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The University of South Alabama Federal Credit Union is offering USA students a way to pay tuition and fees, housing, and required meal plans in four monthly installments* during the semester, subject to credit approval. |
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The USA Federal Credit Union offers a low cost plan for financing 100% of tuition, fees, housing, and meals with equal payments over four months. A book allowance of $500 is also offered. Students should see a Credit Union Representative by August 9, 2010 to secure their schedule. For more information please call (251) 706-0255. Participation for Fall Semester 2010 will end August 27, 2010. |
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Interest is anticipated to be 12% Annual Percentage Rate (APR), although this rate is subject to change. In order to qualify for this tuition loan, a student must join the USA Federal Credit Union by depositing $25 into a share account. This amount will be returned to the student when the student no longer wishes to belong to the Credit Union. |
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To qualify for this plan, a student must meet the Credit Union eligibility requirements. The student could then obtain a special short-term tuition loan, which would be repaid over the next four months. |
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How
to participate: |
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First, register for classes, so that your actual charges will show on your student account. |
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Pick up a statement of charges and a loan application (an application may also be obtained directly from the USA Federal Credit Union). The application may be taken to the USA Federal Credit Union, located at 103 Hillcrest Road. Your driver's license or similar official picture identification will be needed. |
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If you will be living in University housing and want to use this plan for payment of housing and meals, you will need to notify the Housing Office that you intend to use the USA Tuition Payment Plan to cover the balance. |
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DOWNLOAD YOUR LOAN APPLICATION NOW
(PDF format, 20 KB) |
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To download the applications for viewing or printing purposes in .PDF format you need to have Adobe Acrobat Reader®. If you do not have Adobe Acrobat Reader® you can click the graphic below to download a FREE copy. |
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When
obtaining your statement from the Bursar's Office to certify
charges for the USA Federal Credit Union, make sure housing
charges are shown on the statement. |
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You
may want to apply early and request pre-approval on your
loan using estimated tuition charges since your loan will
need to be finalized with the USA Federal Credit Union
before checking into your room. |
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The
length of repayment and number of installments
may vary depending on the date of the loan. |
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Summer
term tuition loans will be repaid in two installments
(see Example 3). Students not attending on-campus regular
credit courses are not eligible to participate, and off-campus
housing cannot be included in eligible charges. |
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