Please
read before proceeding to print an Enrollment Form
Enrollment
Coupon Method of Payment - Enrollment must be
received according to the dates specified in the
Payment and Fee Schedule in this brochure, along
with any enrollment fees and all past due monthly
payments if applicable. You will then be mailed
coupons, which must accompany your remaining monthly
payments. Checks should be made payable to the
Trustees of the University of Pennsylvania. Checks
should be in US dollars and drawn on a bank that
has a US location. Checks drawn in foreign currency
will be returned, and checks drawn on Canadian
banks, even in US dollars, will take twice as long
to process. Do not send post dated checks – these
will be rejected and returned unprocessed to you.
Automated Direct Payment Option
(ADPO) - Enrollment must be received according to
the dates specified in the Payment and Fee Schedule
on page 2. Deductions from your checking/savings
account will begin in the month of March (12 Pay)
or May (10 Pay). If you enroll 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 are due at the time of 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. 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, please
use the previous year’s expense budget plus
5%.
Budget Plan Payments
The twelve (12) month plan begins in March and
ends in February. If you choose this option, you
must enroll prior to April 30th. After April 30th,
the 10 month plan is the only plan option available.
The ten (10) 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.
The difference
between your Student Account Bill and the Penn 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. 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 Penn Monthly Budget Plan payments.
Your budgeted amount is distributed over ten (10)
or twelve (12) payments. Half of the amount is credited
to your student account during the Fall semester;
the remaining amount is credited towards the Spring
semester provided your budget plan payments are current.
Delinquent Accounts
If your Penn
Monthly Budget Plan account is not current, the amount
applied to your student account will be adjusted to
reflect only payments received. This may result in
a balance due on your student account, 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
Participants not enrolled by May 22nd are subject
to an additional $50.00 late enrollment fee.
The enrollment fee is non-refundable.
There is an annual renewal fee 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 $30.00 service charge being added to your Plan
account. 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 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 Budget Amount
Can be made
at any time during the academic year at no additional
cost. Contact the Penn Monthly Budget Plan service
representatives for details. Changes cannot be made
by altering your existing coupons – this will
delay your payment or cause it to be rejected.
Scholarship
Checks
Checks received
from outside sponsors may not be used as payment to
your Penn Monthly Budget Plan account. Process your
scholarship check as instructed at 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
Remains in
effect until canceled in writing, or the end of the
plan year. If you are changing any of the US 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.
