In order to assist families with managing tuition payments, Archbishop Hannan High School offers them the option to finance their tuition and specific fees (certain fees are excluded from this option) through First Class Tuition Line of Credit offered by First Bank and Trust, the largest local tuition lender in the Gulf South. This revolving line of credit is designed to extend tuition payments over the course of ten months from July through April.
All families participating in this plan are required to submit their monthly payment utilizing Electronic Funds Transfer (EFT). Tuition payments are deducted electronically from a specified savings or checking account. Funds are automatically withdrawn on the same day every month (parents may choose the day), and deposited into the school account. This is a completely secure and convenient process for both the family and the school. An EFT Authorization Form must be completed at the time of application in order to process the application.
- First Bank and Trust will finance the full tuition and approved fees over a 10 month period. The annual percentage rate on the Tuition Line for Archbishop Hannan High School is 9.75%. This rate is fixed for the 2014–2015 school year.
- The Tuition Line is computed using a simple interest calculation. The loan may be paid in full at any time with no prepayment penalty. The line of credit will be advanced on June 1 of each year.
- A monthly statement will be mailed directly to customers by the bank. This statement contains any transactions for the previous cycle month, along with the total payment due.
- Payments are due on or before the first of each month, beginning July 1, 2014. There is a 10 day grace period extended on each payment. A late fee in the amount of $25 will be assessed on all delinquent payments. If the payment becomes past-due, First Bank and Trust will notify the school and proceed to take collection action to obtain payment.
- First Bank and Trust does not charge an Application or Origination Fee on the Tuition Line of credit. There will be a $20 annual fee assessed each year on the advance date. Customers may elect to receive e-statements and obtain a $10 discount off of the annual fee.
- If you have further questions please contact First Bank and Trust Tuition Lending Services at (504) 584-5967 or contact our Business Manager, Mr. Jerry Kennedy at (985) 249-6363.
Click here to apply for the Tuition Line of Credit.