Hi everyone,
We have made a BS decision, which I will announce shortly on the decisions thread after I get through the enrollment forms.
The tuition is due on July 15. Is that normal to pay the full year in July, prior to the school year? I think I’ve heard of tuition plans, and 60/40 etc. What is most common?
Thanks!
PS I tried to search this topic but didn’t find much b/c was hard to determine keywords.
I think that is pretty normal. I think most schools make you sign a contract and give a deposit within 30 days of acceptance. Or something along those lines. Then you pay for the year sometime mid -summer. Pretty sure PEA is same.
and hurray!
We are going the 10 payments route - and I was very surprised they start less than a month after the deposit. I didn’t expect more than the deposit until like July. I can’t remember what the other payment options were.
At my kid’s school you could do the full shebang in the summer or do the 10 payments plan which started sooner. The 10 payments plan was interest free (can vary from school to school - I do think some might charge interest?) but there was a small fee for signing up ($50 or so) and if you did choose payments, you are required to do mandatory tuition insurance. Tuition insurance isn’t a bad idea anyway. The cost of tuition insurance does vary from school to school as well.
In college, you pay by semester but BS is more rigid and it is a full year commitment.
For MX there are a couple different plans (four payment, ten payment, full payment) … we chose the two payment plan in which 50% of tuition is due on July 1st and the other half on December 1st…
And for the 4 payment and 10 payment plans, like @doschicos said, there is a fee/interest …
There are also payment plans. I think it’s 10.
I believe that if you did anything other than pay for the full year, you had to buy tuition insurance as well. Writing that check was always a "deep breath " moment!
We had three options. If you didn’t pay the full amount by June 15, you could elect two payments or 12. The split payments would require an additional 1% of your part of the tuition (after FA) for Insurance. We opted for the 12 payments, but they start May 1. Luckily, you can charge them to a card, so I’m using my airlines card to rack up miles for when I go see DS 
Our school has three options. Everyone is required to pay the 10% deposit. After that you can pay in full, do a split 50/40 (you already did 10% with deposit) due July 1 and Nov 1, or you can do 10 payment option. 10 payment option does require insurance and you do pay a small amount of interest.
We also had three options similar to the above plans. Anything other than pay in full requires tuition insurance. Paying in full also allows you a 1% discount. We got creative to pay in full for the first year. Then, we created our own “payment plan” by saving 1/12 each month so we could continue paying in full in order to skip tuition insurance and get the discount.
PEA does not require tuition insurance if you sign up for 10 payment option. Payments begin in May and end in February. Deposit is in April. So one glorious month - March- with zero payment due.
After deposit deerfield is split into two payments. Maybe one due in August and about November.
Y’all just reminded me I needed to get the payment plan set up… #-o