Tuesday, September 1, 2015
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Terp Payment Plan (TPP)



Overview

Avoid Lump-Sum Payments

Are you looking for a convenient alternative to lump-sum tuition payments at the beginning of each semester? By enrolling in the Terp Payment Plan, you can spread your academic year payments out over 8 or 10 monthly payments; or your semester payments over 4 or 5 payments. There's no interest! Just an enrollment fee: $50 for the 10 month plan, $80 for the 8 month plan, and $45 for the 4 or 5 payment plan (Fall or Spring only). You can include most university charges including: tuition, fees, room, meal plans, telecommunications fees, parking permits and orientation charges.

Your Payments Will Be Debited Directly From Your Bank Account

With the Terp Payment Plan, your monthly payments will be debited directly from your checking or savings account. You'll still receive monthly statements detailing the current status of the account, but there will be no checks to write, and no payments to mail. To register for automatic payment withdrawal, request an "Automatic Payment Withdrawal Form" from the bursar's office at: paymentplan@umd.edu. Please include your mailing address and University ID number with your request.

Funding The Gap

The Terp Payment Plan is an ideal way of covering the gap between financial aid and the cost of education without resorting to additional borrowing from alternative sources. Interest-free payments are spread out and made on a monthly basis from current income.

Easy Enrollment

Simply download and print out the TPP Packet 2015-16. Complete the worksheet first to determine the amount you need to budget. Use the amounts from the worksheet to complete the enrollment form. Sign the enrollment form, enclose the total number of applicable payments based upon enrollment date, and mail it back to us. It's that simple!

Full Year Plans

10-Pay Plan ($50.00 Enrollment Fee)
Enrollment Period Required Payment Payment Debited
Thru 6/26 Fee + 0 pmt 7/5
6/27 to 7/15 Fee + 1 pmt 8/5
7/16 to 8/15 Fee + 2 pmts 9/5
After 8/15, the 10-Pay Plan is not available
8-Pay Plan ($80.00 Enrollment Fee)
Enrollment Period Required Payment Payment Debited
8/16 to 8/28 Fee + 0 pmt 9/5
8/29 to 9/15 Fee + 1 pmt 10/5
9/16 to 10/15 Fee + 2 pmts 11/5
10/16 to 11/15 Fee + 3 pmts 12/5
After 11/15, the 8-Pay Plan is not available

Fall Plans

Students who are graduating in December are permitted to enroll in a Fall Plan.

5-Pay Plan ($45.00 Enrollment Fee)
Enrollment Period Required Payment Payment Debited
Thru 6/26 Fee + 0 pmt 7/5
6/27 to 7/15 Fee + 1 pmt 8/5
7/16 to 8/15 Fee + 2 pmts 9/5
After 8/15, the 5-Pay Plan is not available
4-Pay Plan ($45.00 Enrollment Fee)
Enrollment Period Required Payment Payment Debited
8/16 to 8/28 Fee + 0 pmt 9/5
8/29 to 9/15 Fee + 1 pmt 10/5
9/16 to 10/15 Fee + 2 pmts 11/5
10/16 to 11/15 Fee + 3 pmts 12/5
After 11/15, the 4-Pay Plan is not available

Spring Plans

Students who are admitted to begin Spring semester are permitted to enroll in a Spring Plan.

5-Pay Plan ($45.00 Enrollment Fee)
Enrollment Period Required Payment Payment Debited
11/5 to 11/23 Fee + 0 pmt 12/5
12/7 to 12/21 Fee + 1 pmt 1/5
1/6 to 1/15 Fee + 2 pmts 2/5
1/16 to 2/15 Fee + 3 pmts 3/5
2/16 to 3/15 Fee + 4 pmts 4/5
After 3/15, the 4-Pay Plan is not available
4-Pay Plan ($45.00 Enrollment Fee)
Enrollment Period Required Payment Payment Debited
12/7 to 12/21 Fee + 0 pmt 1/5
1/6 to 1/15 Fee + 1 pmt 2/5
1/16 to 2/15 Fee + 2 pmts 3/5
2/16 to 3/15 Fee + 3 pmts 4/5
After 3/15, the 4-Pay Plan is not available


If there are any questions about this information, send an email to: paymentplan@umd.edu.