Preparation and Options

Families with children attending college can be classified in one of three ways.

1. Some families have made saving for college a priority for a number of years prior to enrollment. During the enrollment period, through the use of savings accounts, other liquid assets and investments, and prudent use of current resources, college expenses are quite manageable.
   
   
2. Another group can be characterized as having very few resources - little or no savings and low to modest incomes. These families still have the option of attending private colleges. The Malone Financial Aid Office will prioritize the use of need-based assistance for these families. However, the students and families will likely rely on loans to help meet the costs. Much of this borrowing can be done through low-interest loan programs, with no interest accruing while enrollment is at least half-time. Repayment of these loans begins after graduation and payments are spread over 10 years. With a college degree, students with college debt can look forward to repayment periods with the benefit of increased earning power. Through careful planning during the years after graduation, most debt can be manageable.
   
   
3. The third group is a combination of the first two described. This group represents most families with college-bound children. Within this group both the family and student have saved some prior to college, incomes are average to comfortable, and employment is fairly secure. These families generally use a combination of the following options to pay for college:

• Current savings
• Summer earnings (student)
• Monthly payment plans (to help with cash flow issues)
• An average amount of student loans
• Some need and/or merit based grants/scholarships
• Some "parent loans" to ease the impact of college expenses during the enrollment period

We believe you will enjoy working with our well-trained and knowledgeable staff. Begin your plans now and take a good look at Malone University. We believe you will see the Malone difference!