We will provide your first eBilling statement in early July for the fall semester. Payment is due in early August, so it is not too early to begin planning—in some detail—how you will fund your college education. Electronic invoices will be sent monthly to the student’s Rensselaer email address. Students may designate others to access their bill.
Academic year expenses for 2018-2019 include tuition, room and board, fees, miscellaneous expenses, and laptop.
Room and board charges are reflected in your choice of meal plan and room assignment. These figures may be more or less than the average figure given. There will be a health insurance fee for students who do not have insurance coverage equivalent to that of Rensselaer. However, this fee may be waived if you have equivalent health insurance—this waiver MUST be done online (see Health Center Requirements).
As part of our commitment to make education more affordable, Rensselaer offers a Tuition Payment Plan. This plan:
- Allows you to meet all or part of the academic year’s expenses in ten, nine, or eight equal payments. This extra time to pay may limit borrowing and conserve savings.
- Is available to you interest-free, with only a small enrollment fee paid once each academic year. This nonrefundable fee covers all costs for the secure handling of your payments. To encourage timely payments, a late fee may be assessed.
- Is completely flexible. Simply estimate your monthly payment and enroll. If your expenses or financial aid change, you may adjust your payment amount. You may withdraw from the plan at any time (with complete payment of tuition).
- Is convenient. Automated account information is available 24 hours a day via a website, and consultants are available from 8 a.m. to 9 p.m. weekdays.
Enrolling is Easy!
- First, complete the Payment Planner, then enroll online. You will receive billing and monthly payment information in accordance with your monthly payment schedule.
There are a variety of loan programs available that are designed specifically to provide students with alternative financing.
The principal and interest may be deferred while you are enrolled. The interest on the loan is capitalized annually and the repayment period is up to 20 years, depending upon the amount borrowed and the type of loan you are seeking. You may obtain additional information and/or applications by contacting the lenders directly.
Federal Parent Loan (PLUS)
Your parent(s) may be eligible to borrow up to the cost of attending Rensselaer (minus other financial aid accepted). The PLUS repayment begins 60 days after the funds are disbursed.
Alternative Student Loan
This is a private loan separate from any federal loans the student may already be borrowing. We encourage students to consider Federal Loans before utilizing alternative loans.
The annual loan maximum would be the total Cost of Attendance minus the offered financial aid. It is up to you to apply for the loan and work with the loan company to be approved. Please note that the student may need a cosigner.
Once the loan has been fully approved, the loan company will contact Rensselaer and we will certify the loan for up to as much as you are eligible to receive (Cost of Attendance minus financial aid being received). Once this process is complete, the loan company will send the funds to Rensselaer and they will be posted to your account.
More information regarding how to apply for PLUS and Alternative Loans is available on the Financial Aid Website.
If you will be applying for either of these loan-types, we strongly recommend beginning the process after May 1, 2018. The financial aid staff will begin certifying these loans over the summer.