Sunday, November 23, 2014
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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.

Have Your Payments Debited Directly From Your Bank Account

With the Terp Payment Plan, you can arrange to have your monthly payments 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 Worksheet (pdf) and Enrollment form (pdf) for the upcoming academic year. 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 first payment, and mail it back to us. It's that simple!

*The enrollment form will be available after tuition and fees have been approved by the Board of Regents (approximately early to mid-June)
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Full Year Plans

10-Pay Plan ($50.00 Enrollment Fee)
Enrollment Period Required Payment
-July 1 to July 15 Fee + 1 Payment
-July 16 to Aug 15 Fee + 2 Payments
8-Pay Plan ($80.00 Enrollment Fee)
Enrollment Period Required Payment
-July 1 to Aug 15 Enrollment Fee Only
-Aug 16 to Sept 15 Fee + 1 Payment
-Sept 16 to Oct 15 Fee + 2 Payments

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
-July 1 to July 15 Fee + 1 Payment
-July 16 to Aug 15 Fee + 2 Payments
4-Pay Plan ($45.00 Enrollment Fee)
Enrollment Period Required Payment
-July 1 to Aug 15 Enrollment Fee Only
-Aug 16 to Sept 15 Fee + 1 Payment
-Sept 16 to Oct 15 Fee + 2 Payments

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
-Nov 1 to Nov 15 Enrollment Fee Only
-Nov 16 to Dec 15 Fee + 1 Payment
-Dec 16 to Jan 15 Fee + 2 Payments
4-Pay Plan ($45.00 Enrollment Fee)
Enrollment Period Required Payment
-Prior to Dec 15 Enrollment Fee Only
-Dec 16 to Jan 15 Fee + 1 Payment
-Jan 16 to Feb 15 Fee + 2 Payments


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