Payment Options
Paying Your Account
Please refer to the financial information detailed in the graduate catalog under "Financial Information" to determine the approximate charges for each semester. In addition to tuition and fees, remember to estimate a reasonable amount for textbooks and class supplies. For this total, deduct scholarships, grants, or loans that have been awarded as part of the financial aid package. (Aid awards are usually based on the academic year and will be credited to your account proportionately, i.e., half of the award or offer for each semester you are enrolled as a full-time student or as indicated in the award announcement.) For information concerning financial aid adjustments, contact the Office of Financial Aid or review the information provided with your offer of financial aid.
After determining the amount of financial aid you will receive, and if financial aid doesnot cover all of the charges for the semester, the balance may be paid by:
1) Sending a check to:
FHU Business Office
158 East Main Street
Henderson, TN 38340
2) Paying by credit card online at www.fhu.edu, or
3) Paying through Tuition Management Systems (TMS).
TMS is an off-campus company the university has contracted with to assist families wanting to spread out payments for school costs. These is an enrollment fee of $65, and no interest is charged during the school year. You may contact TMS at (800) 722-4867 or www.afford.com. Also, the contract with TMS may be increased at any time to cover any additional balance that arises from changes that are made. Any combination of the options mentioned above is acceptable to pay the bill in full.
Bookstore charges and other miscellaneous charges the student incurs will be due upon receiving the monthly statements or viewing the statement online. Any unpaid amount from the previous monthly statement will be subject to a 1% per month (1% per year) service charge. Accounts must remain current to maintain charging privileges. If there are any questions about student's sccount, you may contact the Business Office at (731) 989-6008 or email mcathey@fhu.edu.
Transcripts are not released by the university until all outstanding accounts are paid.
Student Loans
The school year at Freed-Hardeman University begins with the summer term and goes through the spring term. A Free Application for Federal Student Aid (FAFSA) must be completed each year to be eligible for government sponsored student loans and work study. The FAFSA may be obtained from the Office of Financial Aid by calling (800) 630-3481 or by email at finaid@fhu.edu and a copy will be sent to you. The FAFSA may be returned to the Office of Financial Aid for processing or may be completed over the internet at www.fafsa.ed.gov.
Stafford Loans
Under the federally-guaranteed loan program, you may borrow from a bank or other financial institution an amount needed for your MBA program. The university certifies your application, and the federal government through a state agency guarantees repayment. Under current regulations, you may borrow up to $8,500 per academic year in a subsidized loan if you are taking at least a half-load ( minimum of five semester hours) of courses. The Office of Financial Aid will mail applications upon request.
You need not begin repayment of a Stafford Loan until the first day of the sixth month after you complete or discontinue your graduate study. The federal government will pay the interest on the loan while you are in school. The interest rate is variable - not to exceed 8.25%.
Unsubsidized Loans
A full-time MBA student may borrow under the Unsubsidized Stafford Loan program up to $10,000 per academic year. This loan is not based upon need, but must be held within the total cost of education minus any other financial assistance. The amount will vary dependant upon credit hour load. The interest rate is variable annually, not to exceed 8.25%. The interest accrues from the beginning of the loan but can be deferred and capitalized if desired. Repayment begins immediately after a student drops below full-time and can extend up to 10 years.
Loan Disbursements
Loan disbursements for MBA students who have previously withdrawn from FHU in prior semesters will be made with 1/2 of the loan proceeds disbursed from the lender at the beginning of the semester (from 10 days prior to the beginning of the semester to 10 days after the beginning of the semester) and the second half will be disbursed after the 60% point in time of the semester. All necessary loan documents would be required prior to disbursement.
All other students will have their loans disbursed at the beginning of the semester (10 days prior to the beginning of the semester to 10 days after the beginning of the semester) providing that the student has completed all the necessary loan documents.