Installment Payment Plan

 


 

Installment Payment Plan

The AUM Installment Payment Plan helps students and their families who are not able to pay their account in full by registration cancellation date. The installment payment plan is a convenient method for paying tuition and fees in smaller, affordable payments instead of paying in one lump sum. The plan allows students to pay their bill in 5, 4, or 3 payments depending upon how early they enroll. It is private and secure and can be used in conjunction with traditional student loans and other financial aid.

Basics of the Installment Payment Plan

  • Only a student or an authorized user can enroll in a payment plan (see tutorial on adding an authorized user)
  • $500 minimum in eligible charges to enroll in the payment plan
  • All previous semester balances must be paid in full prior to enrollment in the payment plan
  • Enrollment in the payment plan requires paying a $50 (nonrefundable) set up fee and a down payment at the time of enrollment. The set up fee is per semester. The down payment amount varies per payment plan option. Financial aid nor third party payments cannot be used as the down payment.
  • The remaining balance will be divided into equal installments based on the payment plan option selected.
  • Any financial aid, private loans, scholarships, or third party payment applied to the students' accounts after they enroll in the payment plan, will reduce the payment plan balance

How Estimated Payment Plans Work

Estimated payment plans are available on June 1st for the fall term and November 1st for spring term before billing statements are issued.  Once billing statements are issued, the Office of Student Accounts will convert each estimated payment plan into a recalculating plan based on actual fees.

To enroll in an estimated payment plan, the student is required to enter their estimated charges and credits into the payment plan.  To determine the amounts to enter into the payment plan, the student should use the AUM Cost Estimator to calculate their estimated cost of attendance. (see tutorial on How to Enroll in an Estimated Payment Plan)
 
Estimated payment plan amounts cannot be changed.  Any differences between the student's estimated and actual costs will be factored into the remaining installments once their plan has been converted to a recalculating plan.

Spring 2018 Payment Plan Options

Students attending AUM in January 2018 can start paying toward their spring semester balance as early as November 1, 2017 by enrolling in an estimated payment plan. Estimated payment plans are based off estimated cost of attendance. Actual (Recalculating) payment plans are based off actual fees. All payment plans require paying a $50 non-refundable set up fee and a percentage of the balance as a down payment at enrollment. The down payment is the initial/first installment.  View all of our spring payment plan options below.

Spring Term Plan

Enrollment
Begins

Enrollment
Ends

Required
Down Payment

Next Installment
Due

Final Installment
Due 

 5-Month Plan 
(based on estimated cost) 
November 1, 2017 November 30, 2017 20%  December 10, 2017 March 10, 2018
 4-Month Plan
(based on actual cost)
December 1, 2017 December 31, 2017 25%  January 10, 2018 March 10, 2018
 3-Month Plan
(based on actual cost)
January 1, 2018 January 8, 2018 50%  Febuary 10, 2018 March 10, 2018
  • Late Fee is $25 for each past due installment
  • Return Check Fee is $30

 

How to Enroll in the Payment Plan
1. Log into the MyAUM portal
2. Click on WebPay Bill Payment under the launch pad
3. Click on "Payment Plans" in the gray navigation bar
4. Follow the remainder of the instructions to complete the enrollment process
5. Read all the terms before you finish your transaction
5. For specific instructions on how to enroll in a payment plan, click on the Student Accounts Tutorial page