Financing the M.S. in Business Analytics Program
The purpose of this advisory is to outline the costs associated with Elon’s M.S. in Business Analytics program and to provide you with the available financing options to assist in meeting those costs. If you should desire additional information, please contact Lynette Lorenzetti in Elon’s Office of Financial Aid at firstname.lastname@example.org, (336) 278-7640.
One of the major benefits of the M.S. in Business Analytics is the reasonable cost of tuition. The current total program cost is between $33,792-39,936. The cost for the 2020-2021 academic year will be $1024 per credit hour. 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.
The Student Loan Programs
If you intend to apply for any federal financing, we encourage you to submit your FAFSA at the time you apply for admission.
Federal Stafford Loan
Graduate students may borrow up to $20,500 through the Unsubsidized Stafford Loan program each academic year. The student will be charged interest from the time the loan is disbursed until it is paid in full. If the interest is capitalized (allowed to accumulate), it will be added to the principal amount of the loan and will increase the amount the borrower will have to repay. If the choice is made to pay the interest as it accumulates, the total interest charges paid during repayment will be considerably less.
The total amount a graduate or professional student may borrow from all Stafford Loans (including undergraduate loans) combined is $138,500 (no more than $65,000 of this amount may be in subsidized loans). The graduate borrowing limit includes any Stafford Loans received for undergraduate study.
Under current law, the fixed interest rate charged on Federal Stafford Loans is set each year by the Department of Education at the beginning of July. There are also small origination and guarantee fees associated with each loan. These fees are deducted up front and thus lower the actual amount of each disbursement.
Repayment of Stafford Loans begins six months after graduation or withdrawal from your program of study. This is called the grace period. During the grace period on a Stafford loan, no payment of any principal is due.
Federal PLUS Loan for Graduate Students
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. Under current law, the fixed interest rate charged on Graduate PLUS is set each year by the Department of Education at the beginning of July. There are also small origination and guarantee fees associated with each loan. These fees are deducted up front and thus lower the actual amount of each disbursement. Federal regulations require loan proceeds be disbursed in two equal amounts. Proceeds are applied directly to your tuition account.
When to Apply for Financial Assistance
Students should apply as early as possible, and certainly no later than the end of June each year, to ensure loan proceeds will be available at the commencement of the academic year. You do not need to wait until you have been admitted into the program to begin the financial aid application process. However, students will not be notified of aid eligibility until they are admitted.
Billing and Payment Process
Students will receive a bill from the Bursar’s Office in September that will be due in the fall. Additional bills are sent by semester: December for winter, February for spring, and May for summer.
How to Apply for Student Loans
- Complete and submit to the Office of Financial Aid the 2020-2021 Elon Graduate Financial Aid Application . The application may be submitted by fax or mail only. Emailed applications will not be accepted.
- Complete and submit electronically the 2020-2021 Free Application for Federal Student Aid (FAFSA).
Elon’s Federal Title IV School Code is 002927.
For additional information, please contact Lynette Lorenzetti in Elon’s Office of Financial Aid at email@example.com, (336) 278-7640.