Auburn University has reintroduced a payment plan to students that will allow them to pay tuition in installments, rather than one large chunk.
The COVID-19 pandemic has made education costs a burden on many students. The university announced its payment plan in a Thursday release.
The payment plan has been around for quite a while, but families were unaware of it, said Mike Reynolds, executive director of the university’s Student Financial Services.
“We are seeing the impact that this pandemic is having on families, and we want to help our students by making them aware of this program and its benefits,” he said. “In such a time of uncertainty, this is a great way for students and their families to more easily pay for college through scheduled payments as opposed to a lump sum.”
Students who want to pay their tuition in installments can choose among two, three or four payments, Reynolds said.
For the fall semester, the payments will begin June 5, July 5 or Aug. 5, depending on how many payments the student will be making, he said.
The spring payment plans begin Oct. 5, Nov. 5 or Dec. 5.
“It’s almost like a menu, if (a student) signs up for it,” Reynolds said. “It asks them what field of study, what residence hall they’re going to be living in, and they have all that information about how much it’s going to cost, and then it estimates and then it splits it out for them to pay so they can start paying ahead.”
Reynolds said he does not recommend the plan with two payments. In this payment plan, students are not paying over half their tuition in the first payment. So if they were to miss that first payment for any reason, they would lose all their classes.
This is less likely to happen in the plans with three or four payments, he said.
Reynolds said he’d actually had a lot of families asking to pre-pay and that the university rereleasing the plan makes more students aware.
“Just to sort of reiterate to people that we’re trying to work with them,” he said.
The university has a tuition calculator (auburn.edu/bannerappdev/ tuition) on its website to help a student understand what they may be paying as well.
For instance, a freshman in-state student in the College of Science and Mathematics taking 12 hours can expect to pay about $5,746. This does not include the cost of books, housing, meal plans or other necessities.
A $45 registration fee applies to the plans, the release said.
Students can enroll through auburn.affordcom or call Tuition Management Systems at 800-722-4867.