Frequently Asked Questions

If you don’t find your answer here, please contact us or telephone 800-920-9777.

About the Program Are interest rates fixed or variable? Unlike many banks and other financial institutions, interest rates are fixed and as low as 5.99 percent. Why do you offer a fixed rate program? Interest rates have reached historic lows over the past few years. Many financial experts believe that rates can only go up. Fixed rates mean predictable monthly payments that won’t rise unexpectedly due to interest rate fluctuations. How is my interest rate determined? Your interest rate is determined by the length of the term and your credit information. Can I finance tuition through a bank? There are personal loans available from most lenders. However, the personal loan rates are usually well above Your Tuition Solution. You can check out current loan terms at bankrate.com, a highly respected financial information web site. My school offers a billing service. How is Your Tuition Solution different? A billing service typically spreads payments over four quarters or 10 months. With Your Tuition Solution, you can make tuition even more affordable by extending payments over as little as 18 months or as many as 72 months. My school accepts credit card payment. Why would I want to choose your payment plan instead? Credit card interest rates are often variable. They are also generally higher, meaning that you will likely pay more in interest. With a payment plan from Your Tuition Solution, you keep your credit card purchasing power available for other purchases. How much will my monthly payments be? You can get an estimate of your monthly payments by using the on-line rate calculator. Is there a down payment? There is no down payment. You simply make your monthly payments. Why are terms limited to 72 months? Your Tuition Solution is designed to offer flexible yet sensible terms. Unlike other programs that may offer terms as long as 10 or 20 years, this plan is designed to keep the terms more in line with the amount of time enrolled in school. Financing tuition over 10 to 20 years can become very expensive due to the extra years of interest charges. How do I know if my school is eligible? You can use Your Tuition Solution to finance your child’s education at virtually any accredited school. If you have questions about your school’s eligibility, call 800-920-9777. How much can I finance? You can finance any qualified educational expenses that are at least $2,000. What can I use the plan to pay for? You may borrow up to the full tuition cost minus any financial aid you receive. You can also include other educational expenses billed by your school, such as room and board, books, activity fees, and computers. Contact a tuition consultant for details. Can I pay part of the tuition and finance the rest? Yes, as long as the portion you are financing is at least $2,000. What if I need to finance tuition bills for my other children? You can finance more than one tuition bill at a time, combining them so you have one convenient monthly payment. Do I need to put my house up for collateral? No, this is an unsecured loan, meaning that no collateral is required. This leaves you the freedom to tap into the equity of your home for other purposes. I had a credit problem a few years back. Can I qualify for this program? There are a variety of plans available for families with challenging credit histories. Credit guidelines are designed to approve as many applications as possible. Call a friendly tuition consultant to discuss your unique situation. About My Application How do I apply? There are two quick and easy ways to apply: on line or by calling 800-920-9777. Is there a fee to apply? There are no application or origination fees. How long does the it take to fill out the application? It only takes about five minutes. The short application includes basic questions such as name, address, household income, and employment information. It’s that simple! When should I apply? The deadline for applications is August 31st for the upcoming school year.  For registered schools, applications are accepted anytime. How long does it take to receive a response to my application? Credit decisions are made within 24 hours or the next business day. If I apply and am accepted, am I committed to your payment plan? Absolutely not. There is no obligation associated with filling out an application. Once approved, you decide whether Your Tuition Solution is right for you. Who is eligible to apply? Parents or guardians of the student are eligible to apply. About My Payment Plan When is my first payment due? It’s due approximately 45 days from receiving your signed loan agreement. What are my payment options? You can pay by check or opt for convenient automatic deductions from your checking or savings account. You will receive a coupon book outlining your payment schedule. Does the money go to me or the school? The payment goes directly to your school. Can I pay back the loan earlier? Absolutely. You have maximum flexibility, because there are no prepayment penalties and you’ll save on interest charges. How can I find out the balance on my loan? Call 800-920-9777 and a customer service representative can answer all your questions. What about next year’s tuition bill? Each year, you have the option to incorporate the new tuition bill into your existing payment plan. You can also extend the terms to keep your monthly payments affordable. What happens if my child leaves school before the end of the tuition period? Please check with your school about their refund policies. Regardless of any refunds you may be entitled to, you are still responsible for your loan obligation. For your convenience, any refunds due from the school are sent directly to Your Tuition Solution and applied to your account to reduce the remaining balance.