How Payment Plans are Recalculated
Payment plans are recalculated once a day to reflect any new credits or charges on your account.
If you add or drop classes, the scheduled payments will be adjusted to reflect the change. Also, any credits or payments that are applied to your account will reduce the amount due on the next payment. See the example below.
Student enrolls in a 'Tuition and Fee' 4 month payment plan and pays the intial $35 (non-refundable) enrollment fee.
Tuition charge is $2,000.00.
Student decides to pay $200.00 at the time of payment plan enrollment.
Student also has a $500.00 scholarship.
Total remaining balance would be $1,300.00 (four equal payments of $325).
1st Payment: $325.00 is made on installment date. Balance is $975.00.
Student is awarded another $375.00 scholarship so the new balance is $600.00. Remaining installments adjust accordingly within a 24 hour period.
2nd Payment: $200.00
3rd Payment: $200.00
4th Payment: $200.00