logistics of paying for college, how much & when?

<p>Does anyone know the basic logistics of paying for college? Meaning: do we get 1 giant bill for everything or do we get multiple bills throughout the year? If so, when do we get the biggest bills?</p>

<p>At the schools with which I am familiar, you get two bills a year, each for half of the total. For example, the fall tuition, room and board might be due August 1, and the spring would be due December 1. They usually offer payment plans as well, where you can pay 1/10 of the amount each month over 10 months. There is usually a small fee associated with this second option (under $100 or so). If financial aid is involved, I’m out of my league.</p>

<p>My D’s college splits tuition by the two semesters although there is a service option to break it into monthly payments. </p>

<p>QLM</p>

<p>I think it depends on the school, too. </p>

<p>For some reason, at the small mostly-commuter school where S took some classes he needed for grad school he was contemplating, the bursar’s office sent out final tuition bills about a month before the end of the class. It always amazed me when we’d get the bill about 10 weeks into the semester. Good for the students, but it didn’t seem like very sound cash-flow management for the university.</p>

<p>My son’s on the quarter system. Tuition is due each quarter, room & board/meal plan deposit due the year before in the spring (full payment due in August). All payments due are sent through the students portal. There is also a payment plan where you can spread out room/board/meal into monthly payments. For those receiving financial aid, they have a slightly different payment schedule to allow for receipt of financial aid. </p>

<p>At the schools I am familiar with, you will get a bill in June or July after Freshman year (and each year thereafter) with any incidental charges- lost room key, library fines, etc. and until that bill has been paid, your August bill for tuition will not be generated. So your kid won’t be able to register for next semesters classes until the incidentals have been taken care of (i.e. no carryover).</p>

<p>At my D’s school, we pay for the fall semester in early August and the spring semester in December. There are options for payment plans so that payments can be spread throughout the year for a small cost, and I think the payments for that start in June. </p>

<p>

</p>

<p>I’m guessing the thought is that enrollments would decline if they didn’t allow that, because people wouldn’t have the money upfront in the beginning of the semester and wouldn’t go. </p>

<p>Most schools will bill by the semester or term. If on a trimester basis, then, that would be how the school would bill Schools do have different rules as to when the bills have to be paid. My son’s current university has about a half semester leeway as to when the bill has to be paid. You can’t register for the following term’s classes and could lose a seat if you don’t secure certain classes that fill up fast if you don’t pay by that date, and late fees start accruing. Payment plans are usually available at most schools at prices that are less than those late fees. The way financial aid and school loans are disbursed are by the beginning of or within a couple of weeks after a term begins (schools will know that schedule and not penalize for funds on the way), but anyone having excess funds and expecting some distribution should be aware that it does not happen for a couple of weeks at least, in most cases, and some schools won’t dispense such funds until the drop date. So that first term often means you gotta pay some of transportation, books, supplies, deposit charges out of pocket because you are not likely to get access to those funds until after the semester has started.</p>

<p>My D’s school also sends bills monthly for misc. items charged to her student account. Some amounts but I believe that she can’t register for fall or spring classes unless it’s paid.</p>