Please
read before proceeding to print an Enrollment Form
Enrollment
Forms:
Coupon
Method of Payment.
Enrollment forms must be received according to
the Payment and Fee Schedule, along with any enrollment
fees and back payments if applicable. You will
then be mailed coupons, which must accompany your
remaining monthly payments.
Automated
Direct Payment Option (ADPO).
Enrollment forms must be received according to
the Payment and Fee Schedule in this brochure.
Deductions from your checking/savings account will
begin in the month of May. If enrolling after April
30th, deductions begin in the month immediately
following enrollment. The amount of the payment
processed will include any enrollment fees and
monthly payments that may have been due at enrollment
in accordance with the Payment and Fee Schedule,
unless submitted by check with your enrollment
form.
Budget Amount
Amounts budgeted are at the discretion
of the student and family. Do not assume that your
student account is paid in full because you are participating
in the Penn Monthly Budget Plan. Any amounts due
the University on the student bill that were not
budgeted as part of the plan are due and payable
when billed by the University. Past due balances
from previous semesters are not eligible for payment
through the Budget Plan.
Budget Plan Payments
The ten month plan begins in May and
ends in February. If you enroll after April 30th, you
are required to submit the fees and amounts identified
in the Payment and Fee Schedule to bring your payments
up to date. Coupon payments are due on the first of
each month. Automated Direct Payments will be deducted
from your checking/savings account on the 5th day of
each month excluding bank holidays and weekends. If
the 5th day falls on a non-business day, the debit
will occur on the next business day.
Disbursement to your Student Account
For
participants whose monthly payments are current,
one half of your total academic budget amount will
be applied to the fall semester and one half to
the spring semester in the form of a temporary
credit. In September (fall term) and January (spring
term), temporary credits are removed and a payment
equal to 1/2 the total academic budget amount is
applied to the student account.
For
non-current participants, payments are applied
under terms and conditions in item number 5.
Delinquent Accounts
If your Penn Monthly Budget
Plan account is not current, the amount applied to
your student account will be the actual payments received.
This may result in a balance due on your student account,
which is payable subject to the terms of the student
bill, and which may be due immediately. Accounts that
are delinquent for two (2) consecutive months are subject
to cancellation. Upon cancellation of an account, the
following conditions apply:
Only
payments received will be credited to the student
bill. Temporary credits and advance payments will
be removed.
Any
balances owed on the student billing account will
be due and payable according to the regular bill
due dates.
Fees and Other Charges
Fees and Other
Charges The enrollment fee is non-refundable. There
is an annual renewal fee for each subsequent year of
participation. Participants not enrolled by May 22nd
are subject to a $50 late enrollment fee. A $15 late
fee may be assessed for each monthly installment payment
that is not received by the tenth of the month in which
it is due. Payments returned from the bank for any
reason in conjunction with the Budget Plan will result
in a $30.00 service charge being added to your Plan
account. 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
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
Plan participants will be
notified when failed payments occur.
Coupon
Payment Method. Participants will be required to
submit a
replacement check.
Automated
Direct Payment Option. Participants will be charged
double payment on the subsequent month's payment.
(Previous month plus current month payment.)
Changes to the payment plan
Budget amount can be made
up to two times during the year at no additional cost.
A $20 fee will be assessed for additional changes.
Contact the Penn Monthly Budget Plan service representatives
in order to make changes to your budget amount. Budget
changes may effect both semesters. A new set of coupons
will be mailed to you to reflect your new monthly payment
amount. Changes cannot be made by adjusting existing
coupons. Participants in the Automated Direct Payment
Option will see the budget change reflected in the
next month's direct charge to their checking/savings
account.
Outside Scholarship checks
that you receive from outside sponsors
May not be used as payment
to your Penn Monthly Budget Plan account. Process your
scholarship check as otherwise instructed, or contact
the Sponsored Scholarship desk at 215-898-1988 if you
need assistance.
Automated Direct Payment
Option
Will remain in effect until
canceled in writing, or the end of the plan year. A
new authorization must be completed to change a payment
account, (change of financial institutions, new account
number etc.). All requests for changes should be submitted
to the Budget Plan at least 2 weeks in advance of the
effective date, to enable the University and the financial
institution reasonable opportunity to act on said notification
