The Semester Payment Plan allows tuition, fees and on-campus room and board to be paid at the beginning of each semester. For more information, contact the Student Accounts Office. Key Alternative Loans are made available to undergraduate students attending accredited four-year institutions. The loan, plus all types of financial aid, cannot exceed the cost of attendance. Payments of principle and interest begin 6 months after the borrower graduates or is no longer enrolled on at least half-time, but no later than 5 years from the date of the first loan .
Interest capitalizes once, prior to repayment.
Repayment period is either 10 or 15 years, depending on the amount of the loan. There is no penalty for prepayment. The Federal PLUS program is designed to provide long-term competitive rate financing for parents. Federal PLUS loans may not exceed the student's cost of attendance less any financial aid a student is eligible for per year. The maximum interest rate for the variable PLUS loan is 9 percent.