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DEPARTMENTS & OFFICES > STUDENT FINANCIAL SERVICES > PAYMENT OPTIONS > REVOLVING DEFERRED CREDIT AGREEMENT
Revolving Deferred Credit Agreement
The Revolving Deferred Tuition Payment Plan permits students to finance two-thirds of their balance due each semester over a two-month period.
To be eligible for the Revolving Deferred Tuition Payment Plan, students must be registered for at least three credits per semester and be in good standing financially.
To enroll in the plan, students must pay one-third of the total balance due on their account and sign an Installment Contract by the tuition due date.
Once the student has signed an Installment Contract, it is valid for future semesters unless revoked by the University. The deferment agreement can be renewed for subsequent semesters simply by mailing in the required one-third down payment and either initialing the back of the invoice or completing a deferment activation card by the tuition due date.
The deferment agreement also may be renewed online by selecting the ePay button in the Deferred Billing Information section of the Financial Status page. Check the Follow Up section after completing the ePay process for further information.
Charges and Fees
There is no application fee for this plan; however, students must enroll prior to the tuition due date in order to avoid a $100 late registration fee.
A finance charge of 15 percent will be assessed on the average daily balance. No interest will be charged to those accounts paid in full by the second installment due date. A $25 fee will be assessed for checks returned for any reason.
A student receives an invoice for the fall semester with charges totaling $10,000 and has been awarded a Pell Grant of $800, a Perkins Loan of $1,000, a PHEAA Grant of $1,650 and a Federal Subsidized Loan for $1,272. This leaves a balance due of $5,278.
To participate in the Revolving Deferred Tuition Payment Plan, the student must sign an Installment Contract and pay one-third down, or $1,760, by the tuition due date. The remaining balance of $3,518 is financed over two monthly installments of $1,759 each plus interest charges.
Billing Rights Statement
Installment Credit Agreement