A number of companies help families to better manage boarding school costs by helping them extend payments over time. Tuition payment programs are not loans. Instead, tuition payment programs allow families to break tuition bills into manageable, interest-free installments. Payback periods and terms vary. In most cases families pay either an application fee or an enrollment fee. If you are interested in a tuition payment program, please check with the admission or financial aid office at the schools to which you’re applying to determine if they offer this financing option.
Most payment programs are interest-free and allow students and families to spread educational costs over several months, without interest and without borrowing. Enrollment fees vary and may be waived in some instances. In most cases, the tuition payment plan collects your tuition payments and transfers them electronically to your school. Inquire about costs to you before using a tuition installment plan.
This article was reprinted with permission from The Association of Boarding Schools
© 2004 The Association of Boarding Schools, All Rights Reserved
Reprinted with the permission of the Association of Boarding Schools. © 2004 The Association of Boarding Schools, All Rights Reserved.
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