Sample Payment Plan Promissory Note

The Payment Plan is a way to spread your term fees for tuition, insurance, university housing, and other fees over installments. Books, personal expenses, and non-university housing are not included. A non-refundable application fee is assessed each semester for students using the plan and is paid with the first payment which must be paid on or before the due date. This Payment Plan requires 5 percent down for the first payment, followed by three equal payments by the scheduled due dates. Another Payment Plan requires one-third down for the first payment, followed by two equal payments by the scheduled due dates. You will be given the option in subsequent terms to continue on the payment plan if all terms and conditions are met.

The total amount of financial aid that is approved by the Office of Financial Aid is deducted before the number of your payments is determined. The first payment cannot be paid by your financial aid. If the amount of term financial aid received exceeds the amount which is owed on your account, a refund check will be mailed or electronically deposited to you as outlined on the financial aid award letter.