• Follow us on Twitter
  • Join our Facebook Group

University Survival

  • Student Success Skills
    • Picking a College
    • Financing Your Education
    • Choosing a Major
    • Preparing for College
    • Managing the Personal Side of the Transition to College
    • Developing Discipline to Do Well
    • Managing the Social Side of College
    • Being an Efficient Learner
    • Taking Tests
    • Ensuring You Receive The Grade You Want
    • Managing Group Projects
    • Becoming a Campus Leader
    • Student Athletes
    • Navigating College Practices
    • Succeeding on Internships and Co-ops
    • Making Critical Decisions
    • Overcoming Challenges for Specific Types of Students
    • Setting Goals
    • Being an International Student In The United States
    • Using Resources
    • Communication Skills for College Graduates
    • Building a Professional Network
    • Using LinkedIn to Develop Your Network
    • Preparing for a Career
    • Understanding Job Protocols
    • Developing Essential Career Skills
    • Becoming a Leader
    • Overcoming Career Challenges
    • Planning for your Financial Future
  • Parent Connections
    • Parent Topics
      • Being a Supportive Parent
      • Making Critical Decisions
      • Financing Your Student’s Education
    • Parent Emails
  • Teacher Resources
  • Resources
  • Community
  • About
You are here: Student Success Skills » Financing Your Education » Understanding Your Payment Options

Student Success Skills

Understanding Your Payment Options

by jack
July 13, 2012

Paying for college can be like buying a new car every year. A college education is the second largest investment most people will make. Obviously paying for college can be difficult for most families. Fortunately there are some payment plans that can help you.

  1. Sallie Mae – With this plan, you make monthly payments interest free. Typically there is a small one-time fee when you enroll in this plan.
  2. 60/40 Payment Plans – with these plans, you pay 60% prior to the start of the start of the semester and 40% at the end of the sixth week of the semester. The 60/40 percentages may vary on some campuses as could the second payment date.
  3. Third Party Billing – With this plan, a third party such as a scholarship, government agency, or organization can pay a student’s tuition in full or in part. The advantages of this plan are that you don’t have to put out any money to get reimbursed.
  4. College Funds – Parents may have set up a college fund for their children. Some of these are called 529 plans because of the tax code provision that allows contributions to receive a tax deduction. Like third-party billing, these plans can pay tuition directly and not require you to put up the money and get reimbursed.

Whatever plan you choose, be careful to pay off the remaining balance when it’s done. Universities will not let you register for classes or even have an official transcript until your bill is paid in full..

← Paying for College
Understanding Financial Aid →

Suggest a Topic

Looking for a topic and can't find it? Why not submit one...

Suggest a Topic

Share This

Rate This Topic

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Testimonials

  • My biggest improvement is that I have been checking my grades, instead of burying my head and trying to ignore the classes I know I am doing bad in.  This semester my grades don't necessarily show improvement at midterms because once again I wasn't prepared for the first round of exams.  That really came back to bite me because in a few classes that was the only grade on the midterms.  But since I have been keeping track, I have been doing everything in my power to make the grades better.  I did all my on-line homework for a few classes so that I would not have to worry about keeping track of when they are due, and I have been keeping a to-do list for studying and things like that..

Sign Up For Student Emails

Enter your email below to get weekly student emails.

  • This field is for validation purposes and should be left unchanged.

Suggest a Topic

Looking for a topic and can't find it? Why not submit one...

Suggest a Topic

Share This

Sign Up For Parent Emails

Enter your email below to get weekly parent emails.

  • This field is for validation purposes and should be left unchanged.

Suggest a Topic

Looking for a topic and can't find it? Why not submit one...

Suggest a Topic
© Copyright - University Survival