Monthly Payment Plan Form


The Monthly Payment Plan (MPP) is a retail installment contract which allows Stetson University students the opportunity to
finance the estimated total net charges (total semester charges less authorized aid, memo items and scholarships) in 5 monthly
payments for each semester (for a total of 10 monthly payments per year) during the current academic year.
commitment payment of 20% of the estimated balance due for each semester is required for participation in the
payment plan. The remaining 80% is billed in 4 monthly payments per semester, with late penalties, if applicable.
Any active Stetson student is eligible for this plan.
Students with prior year outstanding student account balances are not eligible to participate.
Application Fee
There is non-refundable $100 application fee to participate in the MPP.
Application Deadlines
Applications are not accepted after July 30.
Plan Amount
This amount may not exceed the estimated total net semester charges (total estimated semester charges, less authorized aid,
memo items, and scholarships). Fall and spring amounts may be different. Authorized aid or memo items may not be
Automatic Debit **OPTIONAL**
Your monthly installment payment may be made through an automatic debit to your checking account (ACH). See reverse for
Authorization Agreement for Pre-authorized Payments (ACH Debits). The first fall auto draft payment will process
September 15; the first spring auto draft payment will process February 15. In the event that the accountholder is not the
student, Stetson University may discuss all information with said accountholder.
Balloon Payment
A balloon payment is any amount above the 20% commitment payment you wish to pay directly to the student's university
account to reduce the amount in the Monthly Payment Plan. (Do not include authorized aid or memo items, such as loans and
scholarships, as a balloon payment.) Balloon payments must be received no later than July 30 in the fall and January 5 in
the spring.
Finance Charge
There is no finance charge associated with the Monthly Payment Plan.
Late Payment Charges
A late charge of 2.5% of your monthly payment is charged on any monthly payment that is late. Late payments are payments
received after the due date. There is no grace period for late fees.
Schedule of Payments
Subsequent payments are due the 15th day of each month until the entire unpaid balance of the MPP contract is paid in full
each semester. A minimum fall 20% commitment payment is due by July 30, followed by 4 monthly payments September
15-December 15; a minimum spring 20% commitment payment is due by January 5, followed by 4 monthly payments
February 15-May 15. If your student is graduating in May, your final payment is due May 6, 2016.
Retail Installment Contract
The student will be required to complete and sign this payment plan application providing for the educational services
involved. The first payment (20% commitment payment) will apply to the student's account upon receipt and secure your
payment plan. The payment plan will automatically be renewed for the following spring semester, unless we receive
written communication from the student to the contrary no later than December 15 of the current academic year.
Stetson University reserves the right to automatically make adjustments based on the charges and credits to the spring portion
of the payment plan.
By initialing, you are indicating your understanding of the Retail Installment Contract ___________
Increases/Decreases in the MPP
Once the payment plan is in place, there will be no changes made during the semester. Additional charges created on the
student account (financial aid adjustments, parking fines, library fines, health service charges, etc.) will be billed separately and
will be due in full upon receipt of such statement. Any adjustment to your financial aid that results in a credit will be applied to
your MPP the following month.


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