The payment plan is the interest-free, debt-free way to spread tuition payments over a number of months for each academic year. The payment plan is not a loan, so there are no interest payments, only a low annual enrollment fee.
The plan allows you to break down your yearly education expenses into easy-to-manage installments, rather than one lump-sum payment. Itís simple and convenient.
Why Pay Monthly?
Your investment in education increases dramatically when you rely on loans or other interest-bearing options.
Paying as much as possible from current income and savings is an easy way to minimize that debt Ė especially if you can spread those payments over several months.
With the payment plan, you borrow less, and that saves you money on interest. Who knows, you could even graduate debt free!
Benefits to Paying Monthly
- Manageable monthly payments
- Lower overall education costs
- Funds remain in interest-bearing accounts longer
Fast, Easy Payment Options
The payment plan is all about convenience. Thatís why we offer you the option to make your payments online by eCheck or credit card, or by mail with your monthly statement. Or if you prefer the worry-free simplicity of automatic deductions from your checking or savings account, you can sign up for recurring payments with our ACH plan.
Manage Your Account Online
Once youíre enrolled, you can set up your account, which allows you to view your account information and status, and make payments any time Ė day or night.
Fees and Other Charges
An annual enrollment fee of $60.00 is required to participate in the annual plan, $35 for the semester plan and this fee is non-refundable. A fee of $25 will be charged for any insufficient fund transactions. In addition, a fee of $30 will be assessed for late payments.
Failure to Pay
In the event of failure to pay three payments in the case of the annual plan, OR two payments for the semester plan, enrollment in the plan will be terminated. Any remaining balance will be due in full immediately.
Errors in Budgeting
You are responsible for the entire amount of your college expenses regardless of whether you make any errors when calculating your monthly payments.
Important Enrollment Dates
The due date for payments is the 1st of each month.
Calculating Your Budget
When calculating your budget needs, we realize you may not be certain of your exact expenses or deductions for the coming academic year. For this reason, you may estimate your annual budget needs for the purpose of enrolling in the payment plan. You are free to change your budget amount during the course of the plan, upward or downward, when more accurate information becomes available.
Following is a template for determining your monthly payment
|Room & Board:
|Other (Lab fee, books, insurance, etc.):
|State & Federal Grants:
|State & Federal Loans:
|TU Scholarships & Grants:
|Other Credits (Deposits, local scholarships):||$_________|
Total Expenses less Total Credits: $__________
*Divide this amount by the total number of months in the payment plan to determine the monthly payment.
For more information please contact:
Julie Starkweather, Bursar
155 Miami Street
Tiffin, OH 44883
(800) 968 - 6446 ext. 3409