The purpose of this advisory is to outline the costs associated with Elon's MBA program and to provide you with the available financing options to assist in meeting those costs. If, after reading this advisory, you should desire additional information, please contact contact Lynette Lorenzetti in Elon's Office of Financial Planning at lorenzet@elon.edu, 336-278-7640 or 800-334-8448 ext. 2.
One of the major benefits of the Elon MBA is the reasonable cost of tuition. The current total program cost is around $30,000, with each credit hour being $767. Many companies, recognizing that advanced education is an excellent investment, will pay all or part of an employee's expenses. In addition, Elon offers a deferred payment plan and student loans.
If you intend to apply for any federal financing, we encourage you to submit your FAFSA at the time you apply for admission.
There are two types of Stafford Loans: subsidized and unsubsidized. Your award notification will tell you whether you may be eligible for one or both.
Graduate students may borrow up to $20,500 annually. Repayment of principal begins six months after graduation, or when the student is no longer enrolled at least half-time.
The fixed interest rate is set at 6.8 percent for subsidized and unsubsidized Stafford Loans. Lenders may withhold up to 1 percent in fees from the previous amounts listed. Federal regulations require loan proceeds be disbursed in two equal amounts. Proceeds are applied directly to your tuition account.
For more information, visit www.elon.edu/finaidborrow. . First-time borrowers are required to complete student loan entrance counseling and a Master Promissory Note, which are available at www.studentloans.gov.
This loan is based on credit worthiness. The application and disbursement process is similar to that described for Stafford Loans. Principal can be deferred while you are enrolled, however interest will accrue. Repayment begins immediately after graduation or when you are no longer enrolled.
Borrowers may borrow up to the cost of education less any other financial aid awarded. The fixed interest rate is set at 7.9 percent. Lenders may withhold up to 4 percent in fees from your requested loan amount. Federal regulations require loan proceeds be disbursed in two equal amounts. Proceeds are applied directly to your tuition account.
For more information, visit www.elon.edu/finaidborrow. First-time borrowers are required to complete student loan entrance counseling and a Master Promissory Note, which are available at www.studentloans.gov.
1. Complete and submit to the Office of Financial Planning the 2011 - 2012 Elon Financial Aid Application for MBA students.
2. Complete and submit the 2011 - 2012 Free Application for Federal Student Aid (FAFSA). The FAFSA should be filed electronically online at www.fafsa.gov.
Elon’s Federal Title IV School Code is 002927.
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