Installment Payment Plan

Installment Payment Plan enrollment for the Fall 2017 Semester begins on July 31, 2017 and ends on September 27, 2017.

Virginia Commonwealth University's Installment Payment Plan offers a convenient method for planning and budgeting educational costs. The plan allows students to divide the cost of tuition, fees, room and board into four installment payments throughout the semester. The IPP is only available in the fall and spring semesters.

The cost for the IPP is a nonrefundable $25 application fee, which is submitted along with the first payment of the semester. Students must enroll in the payment plan within the first four weeks of classes, and students must re-enroll in the payment plan each semester. Both the initial payment and completion of the online application are required in order for the student to participate in the IPP.

Students must make a personal payment within the enrollment period in order to participate. Financial aid, third-party scholarships (including payments from 529 and trust accounts) and/or deposits will reduce the student's overall balance. These payments are not considered as an installment payment.

The IPP is not available for past-due balances, nor may students enroll in the IPP after the enrollment period has closed.

Once enrolled, eStatements for the remaining installments should reflect only the installment payment that is due. If the eStatement requests the full account balance, contact Student Accounting immediately. If financial aid or third-party awards have not been applied to the student’s account by the initial due date, the first installment may be higher than expected. Questions regarding financial aid disbursements should be directed to the Office of Financial Aid.

Budgeting

To estimate installment costs, divide the total bill by four and add $25 to the first installment to cover the nonrefundable application fee. VCU does not assess interest on the outstanding balance.

Eligibility

Students with current charges of $100 or more are eligible to participate in the IPP. All prior semester balances must be paid in full to be eligible.

Students who are receiving financial aid may deduct their aid to determine the net total due. If it is $100 or more, the remaining amount may be paid by installments.

In some cases, a student may receive a financial aid refund, and then subsequent charges for the semester are added to the student’s account. Students who have received a refund are ineligible to participate in the IPP unless the refund has been repaid to VCU in full. The student must then pay the initial payment and follow the instructions to enroll in the IPP.

Enrollment and billing

Students or authorized payers can enroll in the IPP by completing the Installment Payment Plan application, which is available at the bottom of this page during the enrollment period. Initial payment is due upon enrollment.

VCU will generate eStatements for the remaining three installments. IPP participants may schedule automatic payments for the remaining installment payments through the billing and payment website using the “web check” payment option only. Payment for charges added to the student account after the account has been enrolled in the IPP becomes due immediately. These charges, which may include meal plans, housing assessments and financial aid adjustments, are not added to the IPP calculations.

Payment deadlines

2017-18 payment deadlines

Payment

Fall semester

Spring semester

1

Aug. 23

Jan. 11

2

Oct. 23

March 16

3

Nov. 17

April 12

4

Dec. 12

May 7

Conditions of eligibility for enrollment in the Installment Payment Plan

  • Enrolled in current semester course(s)
  • Current semester charges are $100 or greater
  • All prior semester balances are paid in full
  • A personal* payment of one-fourth of the semester charges plus the $25 installment payment plan fee (less financial aid and/or scholarships, if applicable) has been paid and is reflected on the student account
  • If applicable, any current semester refund has been repaid

*A personal payment must be made within the enrollment period. Financial aid; third-party funds (including payments from 529 and trust accounts); and/or deposits are not considered as a personal payment.

Enrollment process

I have met the "Conditions of Eligibility for Enrollment in the Installment Payment Plan" and request to enroll in the payment plan. I also agree to pay the remaining three installments by the payment due dates.

Installment Payment Plan enrollment for the Fall 2017 Semester begins on July 31, 2017 and ends on September 27, 2017.

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