<p>At D's school this is the only way to break tuition into monthly payments. Has anyone used it, and did it seem to make financial sense? They say no interest, but a fee.</p>
<p>I’ve used it for 2 years for my younger son. It costs $60 each year to set up, and you can choose how many payments you want to make, I think between 6 and 10. The payments get automatically withdrawn from my checking account. I like it because it means I don’t have to liquidate some of my son’s investments all at once.</p>
<p>I use a similar one, TMS (Tuition Management Systems) and it makes things so much easier. I can budget the amount with I think 5, 8 or 10 payments and adjust it accordingly.</p>
<p>We were “members” of Tuition Pay OR Tuition Management Services for seven years…it just made it easier in terms of cash flow to pay monthly for a period of the year (we did 10 so we could have two months off), than to pay by the semester.</p>
<p>thanks so much everyone-- it does sound worth it.</p>
<p>We use Sallie Mae and the fee is $100 a year. I think the fee is determined by the school attended. I can’t afford to pay in one lump sum, and have to break it down, so it works for us. Also, it’s all handled online, which is great. I get an email reminder each month before the payment is due. Very helpful.</p>