Alternative Loans and Payment Plans

An alternative loan is a private loan in the student’s name which, depending on the applicant’s credit worthiness, may require a co-signer. Students may use the loans to pay for the remainder of their college tuition and fees and other living expenses (books, housing, transportation, and personal expenses). If students are applying for loans to finance non-Pace housing, they must provide the Office of Financial Aid with a copy of their lease prior to submitting the loan application.

Payment and interest may be deferred up to 6 months after graduation, or at least as long as the student is enrolled part-time. Interest charges will begin once the funds are dispersed to the university. It is strongly suggested that students try to make the interest payments in order to avoid principal cost increases.
Before you begin the application process, we recommend you obtain a credit report. Even if you already have one, it is always better to get the most up-to-date report possible. The three major credit bureaus providing credit reports are:

It is the student's responsibility to follow up with the lending institution to ensure that they have received all requested documents needed to finalize the loan. Loans must be certified by a counselor at Pace University’s Office of Financial Aid in order to complete the loan process. If you are dissatisfied with your lender, please alert the Office of Financial Aid.

Monthly Payment Plan:  Tuition Pay (formerly Academic Management Services) administers Pace's monthly payment plan for the Fall and Spring semesters (Tution Pay is Not available for Summer Session or Wintersession).  Payment plan options include:

  • 10 month plan for students planning to enroll for the full academic year
  • 5 payment plan available to students planning to enroll for one semester only.

Enrolling in Tuition Pay:

  • Call 1-800-635-0120 or securely enroll online at the Pace Tuition Pay Website 
    Please note:   Enrollment deadlines apply for this program.  Enroll early to take advantage of spreading your payments over the academic year. Your semester registration will be finalized based upon enrollment in Tuition Pay.  You can adjust your Tuition Pay contract at any time.  If it is determined you did not budget sufficient resources to meet your semester charges, you may be required to submit a payment directly to Pace University.
  • Payments submitted to Tuition Pay will not immediately be reflected on your Pace University student account.  Tuition Pay transmits payments to the University on a set schedule, usually once monthly.  Depending upon your enrollment date with Tuition Pay, it may take several weeks for your Tuition Pay payment to reach Pace.  Students enrolling late in a one semester Tuition Pay plan, should indicate their enrollment on the reply copy of their Pace invoice and return to the Pace University Payment Processing Center.  Once your enrollment with Tuition Pay is confirmed, your registration will be finalized.  Please realize, however, student invoices will only reflect actual payments received and applied to your student account; Therefore, you will continue to receive billing invoices from Pace until all of your Tuition Pay payments have been received and posted to your student account.