Payment plans and Financial Aid
Students who expect to receive financial aid and enroll in a payment plan need to make their payment plan payments when they are due. When financial aid is authorized (ready to pay) or paid to the student account, it will be applied equally to any remaining payments. If financial aid does not pay the payment plan in full, remaining payments due will be adjusted equally. If financial aid creates a credit balance on the student account, a refund will be processed.
Using a debit card for payment plans
Please be aware of the daily limit on your debit card. Adjustments to your scheduled payment plan payments, such as adding a class, could increase your payment to exceed your daily limit. This may result in your payment being rejected by your bank. If your payment is rejected by your bank and you have had the $25 processing charge waived, you will be assessed the $25 payment plan processing charge along with a returned item charge. Contact your bank if you do not know your daily limit.
Using an ATM card for payment plans
Please be aware of the monthly limit of electronic transactions your bank may impose on your ATM card. Scheduling a series of payments within the same month that take you over your monthly limit will result in your payment(s) being rejected by your bank. If your payment is rejected by your bank and you have had the $25 processing charge waived, you will be assessed the $25 processing charge along with returned item(s) charge(s). Contact your bank if you do not know your monthly limit.
How to enroll
Enroll in a payment plan online through eBill
. If you would like to make a down payment in person you may do so and then enroll in a payment plan online. The down payment will be applied correctly as long as you have no outstanding charges on your student account other than eligible charges for the plan.
You can make payments of any size toward your next installment at any time. These payments can be made online, in person, or by mail. You can use the "Make a Payment" link on the "Payments" tab and pay any amount you wish.
Students will be notified by email if an authorized user enrolls in a payment plan on the student’s behalf. Students are also notified if an authorized user makes a payment or schedules a payment on their behalf.
Changing amounts of automatically scheduled payments to
The only way the amounts can be modified is if activity takes place on the student account and a recalculation of the plan is performed.
Changing a scheduled payment method
A student can modify a scheduled payment’s payment method. A new payment method will need to be set up in the user’s Payment Profile if it does not already exist. The student must “edit” the scheduled payment in the Payments tab by clicking the ”edit” link to change the payment method. If you need to change the expiration date, go to “My Account,” “My Profiles,” “Saved Payment Methods,” then click “Edit” next to the payment method that you need to update. Once payments are scheduled, you can modify the payment dates.
Down payments are not required. However if you enroll in a payment plan on an installment date, you will be required to pay that installment at enrollment.
If a scheduled payment is returned or rejected by the bank unpaid (or is disputed in the case of a credit card), the $25 payment plan processing charge will be assessed in addition to any applicable returned item charge. Potentially, students could be charged a total of $50 for a returned scheduled payment plan payment.
Pay off your balance
Pay the remaining balance in full any time without penalty. Use the "Pay Off" link on the Payment Plans tab to pay the plan in full.
Installments reopen if their due dates have not passed and you register for additional courses or incur additional charges, have reversals of authorized (ready to pay) or paid financial aid, or reductions in payments from a business, agency or other organization.
A student’s payment plan may calculate as paid off without making a payment toward the plan for the following reasons:
- Your authorized (ready to pay) or paid financial aid exceeds your payment plan balance.
- Payments from a business, agency or other organization were applied to your account.
- You or another individual made a payment outside of the payment plan in person, by mail or online using eBill.
- The student dropped their courses while enrolled in a plan and did not immediately re-register for subsequent courses. Since the balance of charges is zero, the plan is considered paid off.
You will receive a statement each month indicating the current amount due.
You will also receive this message if your authorized (ready to pay) or paid financial aid or payments from a business, agency or other organization reduces the balance of your eligible payment plan charges below the value of one freshmen credit hour.
Installment amounts change
The payment plan is set up to pay for charges on your student account, such as tuition and housing. Any time you have new charges, have reversals of authorized (ready to pay) or paid financial aid or reductions in payments from a business, agency or other organization on your student account, your remaining plan installment amounts will change equally. Once the charges or refunds are posted to your student account your payment plan will recalculate and you will receive an email notification with your new installment payment amounts. Any time you have other payments, your payment plan installment amounts will go down in the order they are due.
Payment plan processing charge (PPPC)
OU will waive the $25 payment plan processing charge each semester if you schedule your installment payments, at the time of plan enrollment, to be automatically deducted from your checking or savings account, debit card or your credit card.
The following actions will cause the $25 payment plan processing charge to be assessed to your student account:
Un-enroll from my payment plan
- Deleting one or more scheduled payments associated with a payment plan
- Un-enrolling from a payment plan
- Switching from one plan to another in the same semester
Students do not have the option to un-enroll themselves from a payment plan. They will have to contact the Office of Student Financial Services.
Late payment penalties
Late payment penalties will be assessed on missed installment payments once the semester bill due date has passed. A hold will be placed on the student account preventing future registration. Online transcripts, diplomas or other statements of record will be withheld and students will be ineligible to register and/or continue to be registered in future semesters until the obligations have been fulfilled. Once the past due amount is received, the hold will be removed. If an account is not paid in full by the end of the semester, it will be referred to an outside collection agency that will report it to the Credit Bureau.
Calculating the installment payments on a payment plan
The system adds up all the charges for the semester (positive and negative), subtracts authorized (ready to pay) or paid financial aid and payments from a business, agency or other organization and divides the result by the number of installments in the plan selected. This calculation gives the amount of each installment payment. Any other existing payments will be applied to the installments on a sequential basis.
Recalculating installments on a payment plan
Unpaid payment plan installments and scheduled installment payments are recalculated each morning at 6:00 am EST.
(The following formula only applies if students do not have outstanding charges from prior semesters.)
- First, the system adds up all the eligible charges for the semester (positive and negative) and subtracts authorized (ready to pay) or paid financial aid and payments from a business, agency or other organization.
- Subtracts the total charges less authorized (ready to pay) or paid financial aid and payments from a business, agency or other organization already in the plan from 1 above.
- Difference from 2 above is divided by the remaining number of installments (including partially paid) in the plan. This calculation gives the amount to increase/decrease each remaining installment payment.
- The system then adds up all other payments for the semester (positive and negative). Installment payments are paid off in due date order. (Paid installments are applied at the amount of installment when paid).