Options for Paying Tuition and Fees
Most colleges and universities expect students to pay their tuition and fees in full prior to the first day of class. Many, however, offer a variety of payment options to assist students when payment by cash or check is not an immediate option.
Some of the payment options that may be available at your college or university are:
Installment plans
These are programs that allow the student to pay off their tuition and fee bill in chunks.
During the Fall and Spring semesters, Texas public colleges and universities are required by law to offer students an option to either (1) pay their tuition and fees in full prior to the beginning of the semester or (2) pay half of the tuition and fees billed prior to the beginning of the semester, one-fourth prior to the start of the sixth class week and the remaining balance before the beginning of the eleventh week of class. Payment plans may also be available for summer sessions, but Texas public colleges and universities are not required to offer such plans for the summer.
Many of the Texas independent (private) colleges and universities will also offer some type of installment plan program, but these institutions are not required to offer such plans. Students receiving financial aid must first use financial aid resources to pay off an installment plan before the balance of the financial aid may be used for other purposes.
Emergency loans
Short term loans offered by the college or university (or an alternative lender) to cover the immediate costs of tuition, fees and (starting in spring 2006) books.
Not all Texas colleges and universities offer emergency loans to cover tuition, fees and books. If emergency loans are offered by your college or university, you may be asked to sign a promissory note (an agreement to repay the loan) and generally the loan must be repaid prior to the end of the semester. Interest and penalty payments may apply.
Credit card payments
The ability to pay your tuition and fees with a major credit card (Visa, MasterCard, American Express, Discover, etc.)
Many Texas colleges and universities accept payment of tuition and fees by credit card. Some will limit such payments to specific credit card types (Visa or MasterCard, etc.) and most will charge an additional fee to cover the cost of the credit card transaction.
The ability to pay your tuition and fees with the financial aid your college or university awarded to you.
If you are eligible for financial aid, many colleges will allow you to apply your aid directly to your tuition and fee bill. Some, however, will require that you make other payment arrangements if your financial aid will not be available at the time payment is due. If you are required to make other payment arrangements, you will be reimbursed by your college or university once your financial aid arrives.
Starting in spring 2006, if you have financial aid disbursements pending but the funds cannot be made available at registration, some institutions will delay the payment due date for tuition and fees. Check with your institution’s business office about this option.
For information on the payment options that may be available to you, contact your college or university.
