Tuesday, April 11, 2017

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). Graduate Assistants receive a fee waiver. 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.

If there are any questions about this information, please contact the Terp Payment Plan or send an email to: paymentplan@umd.edu.