Tuition Loans

Monthly Tuition Payment Option

First Bank and Trust, the largest local tuition lender in the Gulf South, is pleased to once again offer our parents the First Class Tuition Line of Credit program. This revolving line of credit is designed to specifically meet the financial needs of Archbishop Hannan families who prefer to extend tuition payments throughout the year.

Tuition Loan Program Highlights

  1. 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 2011–2012 school year.
  2. 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.
  3. 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.
  4. Payments are due on or before the first of each month, beginning July 1, 2011. There is a 10 day grace period extended on each payment. A late fee in the amount of $15 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.
  5. 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.
  6. Customers have the option to select an automatic debit payment where monthly payments are automatically deducted from the customer’s checking account. If this option is not selected payment may be made by mail or in person at any First Bank and Trust branch.

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.

Apply Now

Click here to apply for the Tuition Line of Credit.