paying for a cdu education

Planning is key to financing your CDU education. To assist our students, CDU offers several options to pay for tuition:

• Scholarships, grants and other free sources
• Payment plans
• Sallie Mae private loans

Talk with CDU's director of admissions or 1.888.254.4238 ext. 700 to learn more about the options available to pay for a CDU education. Current students with questions about tuition payment can contact the finance department or 1.888.254.4238 ext. 702.

Scholarships, grants and other free sources

While CDU does not offer scholarships at this time, students are encouraged to research other sources to help pay for a CDU degree. Many companies have tuition reimbursement programs to help employees and their families earn a college degree. A growing number of Catholic parishes and dioceses offer tuition assistance to adults studying at CDU. To serve current military personnel, families, and veterans, CDU participates in tuition assistance for all U.S. military services. (In most cases, the military reimburses 100% tuition up to a maximum of $250 per credit and $4,500 per year.)

Here are a few suggestions to learn more about possible free sources available to finance a CDU education:

• Check state agencies at www.ed.gov/Programs/bastmp/SHEA.htm
• Talk to the training/human resources department where you work
• Ask the parish director of religious education, parish priest, Catholic school principal and/or diocesan office for tuition assistance information when studying at CDU
• Visit www.todaysmilitary.com for benefits to military personnel
• Visit www.gbill.va.gov for benefits available to spouses of veterans or dependents of veteran

Payment plans

To make tuition payments manageable for students, CDU offers a three-month or four-month payment plan for undergraduate and graduate single course enrollments. At the time of enrollment, students select the option that best meets their budget needs. On or about the 15th day of each month, installments will be charged to a designated credit card/debit card (Master Card, Visa, American Express or Discover) or students may send a check or money order for monthly payments. There is a $30 fee to cover processing a payment plan and a down payment of $250 is required at the time of enrollment for both graduate and undergraduate courses. This option is not available for continuing education courses.

Sallie Mae private loans

While it is wise to borrow only when necessary, a loan from a private lender may be the best answer when searching for ways to finance a CDU education. CDU's status as a Title VI school allows graduate and undergraduate program students to borrow at very competitive interest rates. Sallie Mae online application is quick and easy with many students receiving loans within a few days.

Log on to www.SallieMaeEdTrust.com/signature to learn more about the Signature Student Loan and to start the application process. After completing the online application, Sallie Mae will process your loan, obtain school certification, and distribute loan proceeds to CDU's financial aid office. Applications can also be requested over the phone.

Tax credits for CDU students

The Secretary of Education has determined that The Catholic Distance University is an eligible institution under The Higher Education Act of 1965. This recognition allows students to consider deferment of certain federal student loans and possible tax credits for tuition payments. These tax credits can provide dollar-to-dollar reductions in your final tax liability.

The Lifetime Learning Tax Credit is a tax benefit equal to 20% of a family's tuition expenses, up to $10,000, for post secondary education and training. This includes all courses offered by CDU.

The Hope Tax Credit, worth up to $1,650, is available for first and second year students enrolled at least half-time (as defined by the U.S. Department of Education) in a college program.

Status as a Title VI school also offers some students the option to defer federal education loan payments. A deferment is a period of time during which no payments are required and interest may not accrue. CDU students who are at least half-time (as defined by the U.S. Department of Education) are eligible to apply for deferments. Requests for deferments must be certified by CDU and approved by the lender.

Students are encouraged to visit the IRS web site at www.irs.gov and talk to their accountant to learn more about possible tax credits.