| Enrollment Terms |
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Enrollments
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Coupon Method of Payment – Enrollment must be received according to the dates specified in the Payment and Fee Schedule, along with any enrollment fees and all past due monthly payments. You will then be mailed coupons, which must accompany your remaining monthly payments. All payments are due on the first day of the month. Checks must be made payable to the Trustees of the University of Pennsylvania. Checks must be in U.S. dollars and must be drawn on a bank that has a U.S. location. Checks drawn in foreign currency will be returned. Checks drawn on Canadian banks, even in U.S. dollars, will take twice as long to process and will not appear on your Student Account right away. We do not accept post-dated checks – these will be rejected and “returned” unprocessed to you.
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Automated Direct Payment Option (ADPO) - Enrollment must be received according to the dates specified in the Payment and Fee Schedule. All deductions are made on the fifth day of the month. If you enroll by April 30, deductions from your checking/savings account will begin in May. If you enroll after April 30, deductions will begin in June. In accordance with the authorizations you provide on the ADPO Enrollment Form or provide in your online enrollment, we will deduct an amount equal to any enrollment fees and monthly payments that are due at the time of enrollment, as set forth in the Payment and Fee Schedule, unless those payments are submitted by check. Thereafter, we will deduct any remaining monthly payments as they come due.
- Budget Amount
- Amounts that are budgeted for payment are decided upon at the discretion of the student and family. You may budget all or part of your financial obligation to the University. If the new academic year’s tuition and fee amounts are not yet available, or if you are an aided student and have not received your award, we recommend that you use the previous year’s expense budget plus 5%.
- The difference between your Student Account Bill and the Monthly Budget Plan
- Your Student Account is the final residence of all transactions - tuition, payments, financial aid, dining, housing, etc. The Student Account is the source from which the statement of account bill is generated each month visible via Penn.Pay.
- Your yearly budgeted amount is distributed over ten (10) payments. Half of the budgeted amount is temporarily credited to your Student Account for the Fall semester; the remaining half of the amount is temporarily credited towards the Spring semester provided your Budget Plan payments are current.
- If you have more charges on your Student Account bill than you budgeted in the Budget Plan, you must pay your Student Account bill in addition to your Budget Plan payments.
- Participation in the Budget Plan does not take the place of the Student Account. The Budget Plan is only a payment method towards your Student Account balance.
- Delinquent Accounts
If your Budget Plan account is not current, the amount applied to your Student Account will be adjusted to reflect only payments received. This could result in a balance due on your Student Account payable subject to the terms of the Student Account bill which may be due immediately. Budget Plan enrollments that are delinquent for two (2) consecutive months are subject to cancellation by the University. Upon cancellation of Budget Plan enrollment by the University, the following conditions apply:
- You may request a refund of all payments you have made. All such refunds will be in the name of the student.
- You can request that the payments you have made be applied to the Student Account bill. Remember that only the payments received will be credited to the Student Account bill; temporary credits will be removed.
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Any balance on the Student Account bill will be payable according to the regular bill due dates.
- Fees and Other Charges
- Participants not enrolled by May 22 are subject to a late enrollment fee of $50 in addition to the regular enrollment fee of $75.
- The enrollment fee and any additional late enrollment fee are non-refundable.
- A separate enrollment fee is required for each year of participation – enrollments do not automatically renew or roll over each academic year.
- Payments returned from the bank for any reason in conjunction with the Budget Plan will result in a $30 returned item fee being assessed. This is applicable for both auto debit and check/coupon payment methods.
- The University of Pennsylvania is not liable for any returned debits due to incorrect bank account information supplied by you. The University is not liable for any charges that your bank imposes on your payment account as a result of your account being in an overdraft position, or below daily or monthly minimum required balance, or any other charges, as a result of your Budget Plan payment being deducted from your checking/savings account.
- Reprocessing of Payments
- Coupon Payment Method participants will be required to submit a replacement check in the amount of the failed payment plus the $30 returned item fee
- Automated Direct Payment Option participants will be assessed a $30 returned item fee on the Student Account bill. The unsuccessful payment(s) can either be debited in the next month’s processing or may be remitted by check to SRFS.
- Changes to the budget amount-Changes to the budget amount can be made at any time during the academic year at no additional cost. Contact the SRFS service representatives for details regarding rebudgets. Changes cannot be made by altering your existing coupons – this will delay your payment or cause it to be rejected and, as a result, your Budget Plan account may become delinquent
- Scholarship checks - Checks received from outside sponsors may not be used as payment towards your Budget Plan account. Process your scholarship check as instructed at http://www.sfs.upenn.edu/paying/outside-scholarships.htm , or contact the Sponsored Scholarship Office at 215-898-1988 if you need assistance.
- Automated Direct Payment Option - The Automated Direct Payment Option remains in effect until canceled in writing, or until end of the plan year. If you are changing any of the U.S. financial institution information for your automatic debit, this also must be provided to us in writing. All requests for changes should be submitted to the Budget Plan at least two (2) weeks in advance of the effective date, to enable the University and the financial institution reasonable opportunity to act on said notification.
- Termination of Budget Plan – Participation in the Budget Plan is entirely voluntary. At any time prior to the date that your final payment is due, you may terminate your Budget Plan, without any explanation, and either receive a full refund of the payments received, or have the payments received applied to the Student Account bill. However, if you do so, there may be an additional balance on your Student Account which may be due immediately.
- Overpayments - If you make your Budget Plan payments, and your Budget Plan payments exceed the amount due on the Student Account bill, the excess can be refunded to the student by request.
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