How does the Monthly Payment Plan work?
Generally, the Monthly Payment Plan consists of 5 payments for the fall semester and 6 payments for the spring semester. All charges minus all credits (including anticipated financial aid) are divided by the number of payments as stated above. The number of payments can be different depending on when you enroll in the plan. Each month a billing statement is then sent for the payment due. The payment can vary from month to month depending on the account activity.
The Monthly Payment Plan is available through the Online Student Accounts Center. This is accessed through the WebAdvisor for Students menu. Students may enroll in a 5-month payment plan that will cover their balance due for each semester. The 5-month payment plan for Fall Semester begins August 1 and ends December 1. The 5-month payment plan for Spring Semester begins January 1 and ends May 1. All payments are due by the 1st day of every month. Payment plans will be automatically adjusted for any additional charges or credits to the student’s account. Students enrolled in the monthly payment will be exempt from late fees and service charges as long as 1) payments are made on or before the payment due date, 2) payments are made in the amount of that month’s installment, and 3) payment plan is established prior to the semster due date as shown on the Payment Agreement Form.
The payment plan administered by AMS enables students and their families to make interest-free monthly installments to pay each semester’s tuition and expenses. You determine how much you need to budget for tuition, housing, dining, etc. in ten, eleven or twelve installments. Half of the budgeted amount is credited to your student account in the fall semester (appearing on your July bill), and half is credited in the spring (appearing on your December bill). If you choose to pay for the fall or spring semester only, the whole amount is credited to your student tuition account in that semester. You repay in monthly installments each term amount credited on your fall and spring bill. Your actual monthly payments do not appear on your bill; they are reflected in AMS’s billing statements and records of your account. You are responsible for paying any amounts remaining due on your account after the term credit has been applied, including amounts still due if you underestimated your budget.
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