1 What is the CMU Payment Plan?
The CMU Payment Plan is an interest-free installment plan that allows semester charges to be paid over a series of monthly payments. This is not a loan; therefore, there is no interest or credit check required.
2 What are some of the advantages of using the CMU Payment Plan?
The CMU Payment Plan offers easy online enrollment, monthly payments, and flexible payment options.
Your investment in education increases dramatically when you rely on loans or other interest-bearing options. Paying as much as possible from current income and savings is an easy way to minimize that debt - especially if you can spread those payments over several months.
With the CMU Payment Plan, you borrow less and that saves you money on interest. You could even graduate debt free!
3 Who is eligible?
To be eligible for participation in the CMU Payment Plan, a student must meet the following requirements:
- Be an admitted student for the semester in which the CMU Payment Plan will be used.
- The account must not have any overdue unpaid balance. The previous semester's charges must be paid in full before enrolling in the CMU Payment Plan.
- Must not have defaulted on a prior established payment plan.
4 Do I HAVE to enroll in a payment plan?
No, it is not required that you enroll in a payment plan each semester. It was designed for students and parents who with or without financial aid will not have enough to cover their tuition bill on the due date.
For students who have applied for financial aid and their award package covers the total cost of attendance through some combination of scholarships, grants, work study, and student and parent loans, please review the following examples to assist you in determining the necessity for a payment plan:
Students who accept all of the offered aid will have sufficient funds and a payment plan is not necessary.
Students who reject work study and suggested loans may find a payment plan helpful.
Students who reduce the amount of suggested loans and would like to make monthly payments for the balance of educational costs would find the payment plan helpful.
5 Am I eligible if I study abroad?
- Yes, if your study abroad program requires that you pay the costs (tuition, room, board) directly to CMU. Because costs vary, you must contact Student Account Services and University Billing prior to enrolling in the CMU Payment Plan to ensure that your specific costs are calculated in the Plan.
- No, if your study abroad program requires that you pay the costs directly to the foreign institution or study abroad organization.
6 How much does it cost to enroll in the CMU Payment Plan?
There is a $25 nonrefundable enrollment fee assessed each semester when signing up for the CMU Payment Plan. This would be a separate transaction from your first scheduled payment. If your preferred payment method is a debit/credit card, the enrollment fee will be automatically deducted and if the balance is not available the payment plan will not be set up and you would be notified immediately that there is an issue with that card. For the checking/savings payment method, the request for funds is sent to the bank which usually takes at least two business days before the request hits your bank account, if the funds are not available at that time the agreement will be terminated.
7 What payment methods are accepted?
Electronic funds transfer from a checking or savings account or debit/credit card (Visa, MasterCard, Discover and American Express). If a debit/credit card is used, a convenience fee of 2.75% per transaction will be assessed.
8 How will I be notified of my payment information?
Once your agreement is processed by NBS (Nelnet Business Solutions), you will receive a confirmation notification by email of your payment amount and due dates. You WILL NOT receive a bill each month from NBS. Payments will be automatically processed on the date specified in your notification until the total account balance is paid in full. The notification also serves as a reminder that a $25.00 per semester nonrefundable NBS Enrollment Fee will be processed from the account indicated on the agreement. Included in the notification is important information you must have to log on to your MyPaymentPlan online account, a service provided to students (and parents if authorized), which enables you to view the current status of your CMU Payment Plan.
9 How are my payments affected if my student account balance changes (i.e. course drops or adds, bookstore charges, financial aid)?
Your CMU Payment Plan balance will be adjusted as your account balance changes. It is your responsibility to monitor your balance through your MyPaymentPlan online account. Information regarding how to access your MyPaymentPlan account is located in your confirmation notification as stated in Question 9 above. As a courtesy, you will be notified by email if there is a change to your plan that affects your payment amount.
- Increases or decreases made to your account balance approximately 10 business days prior to the 5th of the month will be reflected in your next monthly payment. If your account balance changes less than 10 business days prior to the 5th of the month, your next monthly payment will not be adjusted.
- Subsequent payments will be adjusted accordingly.
10 When will I see my monthly payments applied to my CMU student account?
After your monthly payment has been deducted from your checking or savings account or charged to your credit card, there will be a 2-7 business day delay in posting the payment to your CMU student account. Monthly payment made via credit card will post to your CMU student account within 2 business days. Monthly payments made via eCheck from a checking or savings account will post to your CMU student account within 7 business days.
11 Can I include my first residence hall payment in the CMU Payment Plan?
If you are a student living on campus for the Fall semester you will not be able to include the first residence hall payment as it is due before the enrollment period for the plan opens. For Spring semester, the first residence hall payment is due after the enrollment period for the payment plan opens so that payment can be included.
12 How soon can I enroll in the CMU Payment Plan?
The CMU Payment Plan availability corresponds with registration. The sooner you enroll in the CMU Payment Plan, the more months you have to spread out your payments. Visit our CMU Payment Plan information page for enrollment deadlines.
13 This sounds great, how can I enroll in the CMU Payment Plan?
The enrollment form for the CMU Payment Plan is available only through e-Cashier. Authorized Payers who wish to set up a payment plan for their student currently do not have direct access through QuikPay to set up the payment plan. Future development to grant this access to Authorized Payers is coming soon. At this time, Authorized Payers will need to work with their student to sign up for the CMU Payment Plan using the steps listed below.
Students can access e-Cashier using the following instructions:
- Login to CentralLink at https://centrallink.cmich.edu.
- Select the "My Account" link at the right of the page.
- Select the "Payment Plan Enrollment" link in the Finances section.
- Read FAQ document.
- Click "Proceed to Budget Worksheet" link.
14 What information do I need when I enroll in the CMU Payment Plan?
Please have the following information ready when you enroll in the CMU Payment Plan:
- Student's email address.
- Your semester cost of attendance and Financial Aid Status Information.
- The name, mailing address, and email address of the person responsible for making payments.
- Bank name, account number, and routing number of the person responsible for payments or debit/credit card information.
15 How do I authorize a responsible party on my payment plan?
Designating responsible parties for your payment plan agreement only allows those individuals to receive information about the specific agreement. Student account financial information can only be disclosed when an individual is named as an authorized payer under the guidelines established by the Family Educational Rights and Privacy Act (FERPA). This can be accomplished two ways:
1. In CentralLink, you may now set up an Authorization to Release Information Passcode. Follow the directions below and give the passcode to anyone you'd like to call and get details about your student account financial information.
· Log in to CentralLink at https://centrallink.cmich.edu
· Click the "My Account" link in the upper right portion of the page
· Click on "Setting/Changing Authorization to Release Information Passcode"
2. Create an account for anyone you would like to authorize up on Quikpay as an Authorized Payer. You set them up with a user name and password which gets sent to their email with a link where they can log into your student account to view information regarding your billing statements and charges. Below is a link to a tutorial on how to set this up.
QuikPAY Tutorial for Authorized Payers (requires Adobe Reader)
16 What happens if I don't have the funds available when my payment is attempted?
If your bank account balance is insufficient to cover your payment and it is returned unpaid, you will be notified of a reattempt date. NBS will deduct a $30 returned payment fee from your bank account or credit card five days after each time a payment is returned. After the third unsuccessful attempt, CMU reserves the right to terminate the payment plan agreement and charge any associated penalties (i.e. $100 non-payment of tuition fee, $30 monthly late fees). In addition, if the payment plan has accumulated a minimum of 3 unsuccessfully attempted returned payment fees (totaling $90) there will be a block placed by NBS from being able to set up a payment plan for any future terms until the unsuccessfully attempted fees are paid. The amount of fees that the payer would be asked to pay to remove the payment plan block will not exceed the $180.
17 What should I do if I change my bank account?
If your bank account information changes, it is your responsibility to contact Nelnet Business Solutions at (800) 609-8056 at least 2 business days prior to your next scheduled payment to update your bank account information. Failure to do so may result in a payment being returned. Please remember, your bank account will be assessed a $30 returned payment fee each time a payment is returned.
18 What if I have sufficient financial aid funds to cover my semester charges?
If you have sufficient financial aid funds to cover your semester charges in full, it is not necessary for you to take advantage of this option. Please review your financial aid award* to determine if a payment plan is needed as the $25 enrollment fee is non-refundable if your aid pays your account balance in full. Please contact the Office of Scholarships and Financial Aid at (888) 392-0007 or by email at email@example.com with questions about your financial aid eligibility. Global Campus students may email firstname.lastname@example.org.
Delays in financial aid disbursements due to filing the FAFSA late, missing documentation, or missing loan activation steps (i.e. entrance loan counseling, signing promissory note), will incur late fees on your student account if not paid by the specified due dates.
*Your financial aid award can be viewed in CentralLink by clicking on the Financial Aid Status link.
If your charges will be more than your financial aid award, you may set up a payment plan for the difference. A budget worksheet is available in CentralLink to assist you in determining your monthly payment amount.
Please note all estimated financial aid is included in the "total amount you are eligible to receive" field in the financial aid section of the payment plan worksheet. Included in the estimated aid are Federal and Michigan Work Study, General Student Assistant (GSA), Student Work Expectation, and Veterans Affairs (VA). However, as these awards are earned through employment and paid directly to the student, these funds will not reduce the amount owed to CMU. In order to calculate the correct amount owed to CMU, please subtract any employment award amount in the "Other awards and/or adjustments" section on the payment plan worksheet.
19 I have applied for financial aid but it has not been awarded yet and tuition is due. What do I do?
If your aid has not yet been awarded, you may enroll in the CMU Payment Plan to cover your total balance due. Any financial aid payments made to your student account after you enroll in the CMU Payment Plan may result in an adjustment to your CMU Payment Plan budget and monthly payment. Refunds of overpayments (if applicable) will be issued by the university in accordance with our refund policy via the CMU Money Card or by direct deposit. If your aid is enough to cover your charges, you will not be refunded the $25 enrollment fee.
20 How often do I need to enroll in the CMU Payment Plan?
You will need to complete a new payment plan application online through CentralLink at https://centrallink.cmich.edu each semester that you choose to enroll.
21 What is the payment schedule?
The payment schedule for the semester currently open for enrollment is located on the Student Accounts Services and University website under the "CMU Payment Plan" tab.
22 Where do I go if I have additional questions about the CMU Payment Plan?
Refer to the "Frequently Asked Questions" or "How e-Cashier Works" links located on the toolbar of e-Cashier. You may also contact NBS at (800) 609-8056 or the CMU Student Account Services and University Billing office at (888) 610-4991.