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Payment plan

If you would like to pay the amount due on your student account in installments, you can enroll in the payment plan. The payment plan is available when all the following are true:

  • It is fall or spring semester (there is no payment plan in summer term)
  • You are a degree-seeking student (non-degree seeking students must pay in full by the first due date)
  • Your amount due is $300 or greater

You can enroll in the payment plan through the My Finances tab on MyU (see step-by-step instructions). A $20 charge per semester will be added to your balance when you enroll. Note: only you can enroll in a payment plan for your account, even if someone else is making the payments.

The payment plan is campus- and semester-specific. That means you will need to enroll in the payment plan each semester you would like to use it. If you are enrolled in courses on more than one University of Minnesota campus and wish to have the payment plan for both bills, you’ll need to enroll in the payment plan separately for each campus.

How installments are calculated

The payment plan covers the first three due dates of each of the fall and spring semesters. The installment amount is a percentage of your term account balance as of each billing date. Generally, the payment plan is three equal installments:

  • The first installment is 33% of the total due on the first billing statement.
  • The second installment is 50% of the total due on the second billing statement.
  • The third installment is 100% percent of the total due on the third billing statement. 

Credits or charges after the billing date

If your total amount due changes after you enroll in the payment plan (due to enrollment changes or bookstore charges, for example), it will affect your installment amount.

If your account is credited after the billing date (e.g., financial aid received, partial payment), that amount will be paid toward the current installment amount and your amount due will be reduced.

If your account is charged after the billing date (e.g., bookstore purchase to your student account), your current installment will remain the same. The new charges will be added to your total amount due and factored into the remaining installments. 

Balances from previous terms

Balances or transactions from previous terms are due in full and are ineligible for the payment plan. This amount will be paid at the same time as your first installment of the payment plan for the current term

How much to pay

The best way to determine how much you need to pay is by going to the My Finances tab on MyU. The balance due must be received by the due date to keep your account current. If you do not pay the full amount due by the due date, you will be charged a late payment fee and a hold will be placed on your record.

 

Important Dates

Billing & Payment

Sun, Dec 15, 2019 Fall payment due in full (for new charges and/or past due balances)
Fri, Dec 27, 2019 Fifth billing statement for fall available (new charges and past-due balances only, due date: 1/9/20)
Thu, Jan 9, 2020 Fall payment due in full (for new charges and/or past due balances)