The Pomona College Monthly Payment Plan
The Pomona College Monthly Payment Plan allows families to make their annual payments to the College in eight installments. Beginning July 2019, there is no longer a service fee to use the monthly payment plan, nor is there an interest charge for participating. The Student Accounts Office outlines the terms of the Plan in the Pomona College Tuition Payment Agreement.
Student and Parent Loans
While students are not expected to borrow educational loans to pay for school related expenses, they can be a useful resource for students and their parents to finance a portion of the family contribution. There are several educational loan options, and we encourage families to evaluate all options before borrowing. We welcome students and parents to discuss their options with our office when considering educational loans.
Federal Student Loan Options
Federal Direct Loan: The Department of Education provides educational loan funding directly to students to assist with educational expenses. Eligible students may access subsidized Federal Direct Student Loans. Interest is not charged while a student is in school at least half-time, during the grace period, or during deferment periods for a subsidized loan. Unsubsidized Federal Direct Students Loans have interest added to the amount borrowed while in school, during the grace period before repayment begins and in periods of deferment. All Direct Student Loan requests are reviewed and a subsidized loan will be provided prior to awarding a student an unsubsidized loan. There is also a one-time fee charged to originate the loan. Find additional information about Federal Direct Student Loans.
Parent Loan Options
Federal Direct PLUS Loan: The Department of Education provides educational loan funding directly to parents of eligible students to assist with school related expenses. The Federal Direct PLUS Loan is an unsubsidized loan. Interest is charged once the loan funding has been fully distributed to the school. There is also a one-time fee charged to originate the loan. Find additional information about Federal Direct PLUS loans.
Private/Alternative Loans for Parents or Students
Pomona College does not have a list of preferred private lenders. FASTChoice lists all of the private loan providers that have made loans to Pomona students in the past five years. Please read Pomona College's policy regarding institutional and personal relationships with student loan providers.