Funds from an anonymous donor are providing tuition loans for Southern Utah State College students.
While the college has always had a tuition deferment policy, the tuition loan fund is relatively new, said D. Mike Barton, director of admissions and records."We implemented the tuition loan process on a trial basis winter quarter and have been pleased with the results," said Rex Michie, director of financial aid. "It is especially beneficial to students who, for some emergency reason or another, find themselves short of tuition when the quarter begins."
Tuition loans cover only tuition and fees. Short-term loans are available to students for school-related items such as books, supplies and board and room, said Michie.
Deferments and loans are made through the SUSC Financial Aid Office in Administration Building 111, telephone 586-7735.
A deferment, the first and least costly option, requires payment of a $10 application fee and the agreement to pay tuition by the end of the third week of school. If the student can't make that deadline, he or she may apply for the tuition loan.
Tuition loans must be repaid within the quarter and may not exceed the total amount required for tuition and fees. They can only be made to students in good standing at SUSC. Loans are made at 12 percent annual percentage rate and require an additional $15 processing fee. A co-signer is required if the student does not have federal aid to repay the loan.