Tuition payment plan administered by Sallie Mae
Need help paying for school? Look no further. If your school offers one of the many tuition payment plan options administered by Sallie Mae, then managing your tuition bill just got easier.
A tuition payment plan is an interest-free option that breaks down the large lump-sum payments due at the beginning of each semester into easy-to-manage installments. You still owe the same amount of tuition, but you now have more time to pay and your payments are smaller and more manageable.
You can use a plan on its own, or combined with financial aid and student loans, to help minimize the amount you need to borrow — saving you money on interest payments!
How does a tuition payment plan work?
Let's say you owe $10,000 in tuition, and your school offers a 10-month payment plan. Dividing the total bill by the number of months you have to pay gives you 10 monthly installments of $1,000 each. If you can’t afford to pay that much each month, don’t worry. You can use a payment plan in conjunction with financial aid and student loans for a complete payment solution.