Virginia Commonwealth University

Installment Payment Plan

Installment Payment Plan enrollment for the Spring 2014 Semester ended February 14, 2014.

The Installment Payment Plan (IPP) assists students in meeting the cost of their higher education by offering a convenient payment option. The university administered IPP is offered only during the fall and spring semesters. The plan distributes the cost of the tuition, fees, housing, dining, and communications fee charges for a semester into four equal installments.

Eligibility

All students attending the university with current charges of $100 or greater are eligible to participate. All prior semester balances must be paid in full to be eligible.

Students who receive financial aid are also eligible for participation in the IPP. Students who are receiving financial aid may deduct their aid to determine the net total due. If it is $100 or greater, 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. If the student has received a refund, he or she is ineligible to participate in the IPP unless the refund has been repaid to the university in full. The student must then pay the initial payment and follow the instructions to enroll in the IPP.

Cost of Plan

There is a $25 nonrefundable application fee payable with the first installment of each semester. Interest is not assessed on the outstanding balance.

Participation

Enrolled students will be sent an email notification when their bill (account statement) is available in the online Billing and Payment Website. To participate in the IPP, a payment of one-fourth (1/4) of the balance due plus the $25 application fee is required. In addition, during the enrollment period, students or the authorized user must enroll in the IPP by selecting the “Installment Payment Plan Application” below. Both the initial payment and completion of the enrollment is required in order for the student to participate in the IPP.

Students and designated authorized users may remit credit card and web check payments online through the Billing and Payment Website. Personal and certified check payments and money orders may be mailed using the remittance advice included on the bottom portion of the online bill (account statement). Cash, personal checks, certified checks, and money order payments may be remitted at the VCU Cashier's Office.

The university will generate ebills (account statements) for the remaining three installments. Automatic payments for the remaining installment payments may also be scheduled through the Billing and Payment Website using the web check option only. Payment for charges added to the student account (student bill) after the account has been enrolled in the IPP becomes due immediately.  These charges are not added into the IPP calculations.  These charges include, but are not limited to, meal plans, housing assessments, and financial aid adjustments.

Enrollment for the fall semester begins July 30th and enrollment for the spring semester begins December 17th. Enrollment is available during the first four weeks of classes in the fall and spring semesters only. The deadline to enroll in the Fall 2013 Semester IPP is September 25, 2013. The deadline to enroll in the Spring 2014 Semester IPP is February 14, 2014.

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. Students receiving additional funds can expect to have these funds applied in full to their account, thereby reducing subsequent installment payment amounts.

The Installment Payment Plan option must be selected each fall and spring semester regardless of whether the student participated during a previous semester.

2013-14 Payment Deadlines

Fall Semester Spring Semester
1st Payment August 21 January 10
2nd Payment October 22 March 12
3rd Payment November 15 April 7
4th Payment December 11 May 1

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.

Installment Payment Plan enrollment for the Spring 2014 Semester ended February 14, 2014.

Student Accounting

1015 Floyd Ave., 1st Floor
P.O. Box 843036
Richmond, VA 23284-3036

Phone: (804) 828-2228
Fax: (804) 828-5463
E-mail: stuacctg@vcu.edu

Hours: Monday - Friday, 8 a.m. - 5 p.m.


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