Summer School Financial Aid Opportunities
Roanoke College offers a variety of courses through-out the summer months. Students may attend classes either during June and/or July months. During these sessions, all classes are charged on an individual basis. Students interested in attending summer school are encouraged to contact The Roanoke College Business Office for the most up-to-date costs related to tuition and room charges.
Institutional grants/scholarship are not available to help cover these charges. Students use 100% of their eligibility for these funds during the regular academic year. We are pleased, however, to offer the following types of aid to assist in summer school attendance:
Before pursuing any of these loan opportunities, students should make sure that they have explored all federal student loan options first. You may contact the Financial Aid Office at (540) 375-2235 or (800) 200-9221 to discuss your eligibility.
Parent Loan for Undergraduate Students (PLUS)
This loan program offers non-need based loans to assist parents of dependent students. For loans disbursed on or after July 1, 201, the interest rate is 7.00%. The maximum FPLUS amount that may be borrowed equals the difference between the cost of attendance and any other financial aid the student is receiving. In no case may the FPLUS loan exceed a student's cost of attendance minus estimated financial assistance. These loans are subject to a credit review. Once the online Promissory note is completed, Roanoke College will certify the student's expenses.
Roanoke College Loan Program
This loan is available to students based on demonstrated financial need on a limited basis. It is awarded at the discretion of the Director of Financial Aid. Interested students should contact the Financial Aid Office before submitting an application for this loan to determine eligibility. The fixed interest rate is 8%. No interest is charged until the student is scheduled to begin repayment six consecutive months after they graduate, leave school, cease to be at least a half-time student as defined by the institution, or cease making satisfactory academic progress. If you qualify, the Roanoke College Financial Aid Office will require you to complete the RC Loan Master Promissory Note and the RC Loan Request Form. The maximum loan amount that a student may borrow in a given year is $5,000.
Alternative Loan Program
Roanoke College offers a wide variety of alternative loans to help fray the costs of attendance. The interest rate and maximum amounts vary depending upon the chosen program. These loans are subject to a credit review conducted by the lender. Many of them also require that the student obtain a credit-worthy co-signer. International students may be eligible to borrow with a US citizen as a co-signer.
Before borrowing ANY private educational loan, students should note the following things:
- You may be eligible for loans or other assistance under Title IV, HEA Programs
- Terms and conditions of Title IV, HEA program loans may be more favorable than the provisions of private education loans