Student Financial Services

212 Blaney Hall
100 College Drive
Allentown PA 18104-6196
Phone: (610) 606-4602
Fax: (610) 606-4653
For Financial Aid and Student Account Inquiries:

Payment Options for Traditional Students

No-interest Payment Plan
The College offers a no-interest payment plan called the EZ Pay Plan which allows students to budget a semester’s balance over a 5-month plan (Fall payments begin in July, and Spring payments begin in December).  Monthly payments are due by the 20th of the month.  Families can self-enroll through the student’s account to pay any portion of the semester amount due through this plan.  There is an enrollment fee of $25 per semester to use this plan. 

Federal Direct Parent PLUS Loan
This is a federal loan made to either parent (or step-parent) of a dependent student.  The borrower may apply to borrow an amount up to the student’s cost of attendance minus financial aid.  The interest rate is currently fixed at 7.9% for the 2009-2010 academic year.  Repayment starts 60 days after the loan is fully disbursed, though deferment is available while the student is enrolled at least half-time.  If a parent is determined not to be creditworthy and is denied for this loan, the student is automatically qualified for additional annual Unsubsidized Stafford Loan funds of $4,000 for freshmen and sophomores or $5,000 for juniors and seniors.  To apply for this loan program, please complete the Federal Direct Parent PLUS Request and return it to Student Financial Services.  Return address and fax information are located on the bottom of the Request form.

Private Educational Loans
These are private consumer education loans in the student's name and should be investigated carefully regarding all terms, including fees, interest rate, adjustments, etc.  Students must have a credit-worthy co-signer to qualify.  The maximum amount that may be borrowed is the schools cost of attendance minus any other financial aid.  For some loan programs, principal and interest may be deferred while the student is enrolled in school at least half-time.  Fees and interest rates for these types of programs vary greatly and depend upon the credit criteria of the borrower (student) and co-signer.  The college has a list of private educational loans available at and will also certify any private loan requested by a borrower.

Code of Conduct for Private Educational Loans

Cedar Crest College recommends students and their families utilize the federal loan programs before considering private educational loans. The College does not endorse or recommend any lender, nor does the College have any financial interest in any specific lending institution. Students and their families have the right to select the private educational loan of their choice. Student Financial Services will certify any loan selected by the student using certification guidelines the private educational loan program requires (i.e. academic progress, enrollment status, etc) along with the certification guidelines for all educational loans. Federal and/or private educational loans may only be certified up to the Cost of Education minus any other financial assistance received (scholarships, grants and/or other loans).

Students will need to submit a Private Education Loan Applicant Self-Certification form when applying for a private educational loan beginning February 14, 2010. The student will need to provide the Cost of Attendance information and estimated financial assistance received for the loan period for which the loan is being borrowed. The loan cannot be approved for disbursement to the College until this form is received by the lender. It is important for students seeking a private educational loan to begin the process in a timely manner, as the approval process can be extensive.

When selecting a private educational loan, be sure to carefully research all aspects of the private loan program before applying (i.e. loan fee, interest rates, repayment options, etc.).



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