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Other Types of Aid

Campus Employment – Work Study

By securing an on-campus job, students can earn money to help pay their tuition bill or use for other educational purposes. Campus employment is a benefit enjoyed by about 45% of the student body. For information about obtaining campus employment, students should contact studentemployment@randolphcollege.edu or visit the Student Employment page on the Human Resources site.

Virginia Tuition Assistance Grant (VTAG)

Available to Virginia residents who attend accredited private, nonprofit colleges and universities in Virginia (such as Randolph College) for other than religious training or theological education.

Monthly Payment Plan

Randolph College offers a monthly payment plan for families who wish to make monthly payments on a tuition bill. There is no interest, no finance charges, and only a $55 enrollment fee for using this service.

To take full advantage of the 10-month payment option, enrollment must be completed prior to June 1st each year.

Randolph College PLITT Student Loan

The Randolph College PLITT Student Loan is a college loan program that helps students bridge the gap between the Cost of Attendance and the student’s financial aid package. The maximum amount available each year through this loan program is $10,000. The interest rate is 3.5% with a loan repayment term of 96 months (8 years). Repayment begins around 30 days after the loan is disbursed to the student’s account. Both the student borrower and the cosigner will undergo a credit check for this loan.

Applications for the 2023-2024 academic year are available after May 1, 2023.

Federal Parent PLUS Loan

Parents (of dependent students) may qualify to borrow under the federal Parent PLUS Loan program for loan funds to pay the cost of tuition and other education related expenses. The lender for the PLUS Loan is the U.S. Department of Education, and the loan offered a fixed interest rate of 7.54% for the 2022-2023 year with a loan repayment term of 10 years. Parents may borrow up to the Cost of Attendance minus all other financial aid awarded. Deferred repayment is an option. The borrower (parent) will undergo a credit check for this loan.

Applications for the 2023-2024 academic year are available after May 1, 2023.

Alternative (Private) Loans

Alternative student loans are loans in a student’s name for which they may need a qualified cosigner. Randolph College works with a number of lenders who are committed to the student education loan industry. However, if a student chooses to borrow from another lender, Randolph College will certainly accommodate their choice. Interest rates can be fixed or variable, and loan repayment options can vary. Students may borrow up to the Cost of Attendance minus all other financial aid awarded.

Alternative (or private) loans are offered by private lending institutions and are not guaranteed by the federal government and do require a credit check for both the student borrower and the cosigner (if applicable).

These funds can be available to students who may not be eligible for federal loans or who may need additional funding to cover the total cost of attendance.

Students should exhaust federal loan opportunities first. Federal loan program provisions may be more favorable than those of alternative/private loans.

Virginia Alternative State Aid (VASA)

Virginians who are nonimmigrants, undocumented, have Deferred Action for Childhood Arrivals (DACA) status or are otherwise ineligible to file the FAFSA and would like to be considered for state financial aid. The VASA application provides access only to state financial aid. You can view more details on the VASA Application process and requirements here.

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