Monthly Payment Plan Form printable pdf download

STETSON UNIVERSITY

MONTHLY PAYMENT PLAN/TRUTH-IN-LENDING CONTRACT

FOR THE 2015-2016 ACADEMIC YEAR

The Monthly Payment Plan (MPP) is a retail installment contract which allows Stetson University students the opportunity to

finance the estimated total net charges (total semester charges less authorized aid, memo items and scholarships) in 5 monthly

payments for each semester (for a total of 10 monthly payments per year) during the current academic year.

commitment payment of 20% of the estimated balance due for each semester is required for participation in the

payment plan. The remaining 80% is billed in 4 monthly payments per semester, with late penalties, if applicable.

Eligibility

Any active Stetson student is eligible for this plan.

Students with prior year outstanding student account balances are not eligible to participate.

Application Fee

There is non-refundable $100 application fee to participate in the MPP.

Application Deadlines

Applications are not accepted after July 30.

Plan Amount

This amount may not exceed the estimated total net semester charges (total estimated semester charges, less authorized aid,

memo items, and scholarships). Fall and spring amounts may be different. Authorized aid or memo items may not be

financed.

Automatic Debit **OPTIONAL**

Your monthly installment payment may be made through an automatic debit to your checking account (ACH). See reverse for

Authorization Agreement for Pre-authorized Payments (ACH Debits). The first fall auto draft payment will process

September 15; the first spring auto draft payment will process February 15. In the event that the accountholder is not the

student, Stetson University may discuss all information with said accountholder.

Balloon Payment

A balloon payment is any amount above the 20% commitment payment you wish to pay directly to the student's university

account to reduce the amount in the Monthly Payment Plan. (Do not include authorized aid or memo items, such as loans and

scholarships, as a balloon payment.) Balloon payments must be received no later than July 30 in the fall and January 5 in

the spring.

Finance Charge

There is no finance charge associated with the Monthly Payment Plan.

Late Payment Charges

A late charge of 2.5% of your monthly payment is charged on any monthly payment that is late. Late payments are payments

received after the due date. There is no grace period for late fees.

Schedule of Payments

Subsequent payments are due the 15th day of each month until the entire unpaid balance of the MPP contract is paid in full

each semester. A minimum fall 20% commitment payment is due by July 30, followed by 4 monthly payments September

15-December 15; a minimum spring 20% commitment payment is due by January 5, followed by 4 monthly payments

February 15-May 15. If your student is graduating in May, your final payment is due May 6, 2016.

Retail Installment Contract

The student will be required to complete and sign this payment plan application providing for the educational services

involved. The first payment (20% commitment payment) will apply to the student's account upon receipt and secure your

payment plan. The payment plan will automatically be renewed for the following spring semester, unless we receive

written communication from the student to the contrary no later than December 15 of the current academic year.

Stetson University reserves the right to automatically make adjustments based on the charges and credits to the spring portion

of the payment plan.

By initialing, you are indicating your understanding of the Retail Installment Contract ___________

Increases/Decreases in the MPP

Once the payment plan is in place, there will be no changes made during the semester. Additional charges created on the

student account (financial aid adjustments, parking fines, library fines, health service charges, etc.) will be billed separately and

will be due in full upon receipt of such statement. Any adjustment to your financial aid that results in a credit will be applied to

your MPP the following month.

Monthly Payment Plan Form

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