The TuitionFlex℠ Program

Budget Before You Borrow

The world of loan financing has changed. Private loan costs continue to increase while lenders with solid finance solutions have become sparse. As student and family's financial gaps grow larger and options become fewer, financial aid professionals are relied upon more than ever to offer answers and solutions. The TuitionFlex Program offered by Education Loan Source can help by working with your institution's demands to create a customized tuition payment program.

The TuitionFlex Program

The TuitionFlex Program is designed to help students and families manage their tuition costs not covered by student loans and other financial resources, while assisting schools with their enrollment management concerns. Within the TuitionFlex Program, there are four products: TuitionEase™, TuitionExtend™, TuitionExtendPLUS™ and Tuition Line of Credit™. All options offer a 100% online application process, e-signature capabilities, and a school portal for a school administrator to manage certifications and application status.

  • TuitionEase℠

    TuitionEase is a low cost, interest-free payment plan with terms up to 12 months. The applicant is able to pay tuition and fees in equal monthly installments over a short-term period not to exceed 12 months. TuitionEase does not require a credit check or a co-signer. The applicant only pays a non-refundable application fee to the Program Administrator and there are no administrative fees charged to the school for this plan.

  • TuitionExtend℠

    TuitionExtend is an installment payment plan for terms greater than 12 months up to 120 months. The school has the option of requiring a co-signer and the interest rate if it so chooses. The borrower only pays a non-refundable application fee to the Program Administrator. The school pays a one-time set up fee and a minimal monthly administrative fee to the Program Administrator. An interest rate as low as 5% can usually cover the administrative fee. TuitionExtend can support a lower payment while the student is in school and upon graduation is fully amortized over the balance of the term.

  • TuitionExtendPLUS℠

    Currently in pilot, TEP allows students and obligors all of the flexibility with the TuitionExtend product, while allowing schools the opportunity to sell qualified paper at a discounted rate. For more information and to be considered as a participant in the TEP program, please contact your ELS Sales Representative or fill out our contact form.

  • Tuition Line of Credit℠

    Available in Spring of 2010, ELS will be launching the TLOC product to complement its TuitionFlex Program. TLOC will consist of a credit line available to obligors where they will be pre-approved for a full-tuition credit line amount and then have the ability to access that credit line at their discretion.

Eligibility

To be eligible for the TuitionFlex Program, the applicant must be a US or Canadian resident and be currently or previously enrolled in the participating school. Please note that this program is typically available to any school including but not limited to non-Title IV schools, K-12 schools, for-profit schools, trade schools, traditional not-for-profit schools, offshore medical schools, graduate schools and allied health professions schools.

Compliance

The TuitionFlex Program provides compliance solutions for schools dealing with regulations in connection with the Higher Education Opportunity Act (HEOA) which amended the Higher Education Act in August of 2008. ELS has undertaken the necessary steps to design the TuitionFlex Program to comply with all relevant laws and regulations. ELS monitors the regulatory environment to implement proposed changes as required.

Contact

For more information about TuitionFlex and to get your school enrolled today, contact us at (888) 335-6261 or fill out contact form