<p>is this a plan where u can borrow money? or just how to pay the tuition? like can you actually use it like a bank and borrow money?</p>
<p>The Terp Payment Plan is technically not a loan.</p>
<p>It allows you to have either 10, 8, 5, or 4 payments throughout the year, as opposed to having 2 lump sum payments.</p>
<p>This allows parents/students that will have the tuition payments each month, but not all at once, a chance to avoid loans that accumulate interest.</p>
<p>It basically saves you anywhere from $150-$250 in interest (this is based on $30,000 in tuition if you're out of state).</p>
<p>soo do alot of students go by this payment plan? and would it be worth it for an instate student?</p>
<p>the terp payment plan basically divides up the total cost of attendance into however many months you want to pay it over. it allows you to pay monthly instead of one huge bulk payment at the beginning of the semester. you dont pay any less or more, you just spread out the payments.</p>