Laredo College Installment Plan Policy
Purpose
Laredo College offers installment plans to assist students in managing the cost of tuition and mandatory fees by allowing payments to be made over a designated period rather than in one lump sum.
Installment Plan Availability
Installment plans are available Fall and Spring semesters only.
Eligibility
Students with an outstanding balance for the current term may participate in the installment plan, provided they enroll by the published payment deadline and satisfy the required down payment.
Payment Plan Terms (25% Installment Plan)
To enroll in the installment plan, students must:
- Pay 25% of total balance (tuition and mandatory fees) as a down payment at the time of enrollment.
- Pay a non-refundable $25.00 service fee. Students can process one installment plan per semester.
- Pay the remaining balance in three equal installments of 25% each of the original eligible balance.
The payment schedule is as follows:
|
Payment |
Amount Due |
|
Down Payment |
25% of total eligible balance |
|
Service Fee |
$25.00 (non-refundable) |
|
First Installment |
25% of total eligible balance |
|
Second Installment |
25% of total eligible balance |
|
Third Installment |
25% of total eligible balance |
Specific due dates for each installment will be established and posted on the department’s webpage.
Payment Plan Terms (50% Installment Plan)
To enroll in the installment plan, students must:
- Pay 50% of total balance (tuition and mandatory fees) as a down payment at the time of enrollment.
- Pay a non-refundable $25.00 service fee. Students can process one installment plan per semester.
- Pay the remaining balance in two equal installments of 25% each of the original eligible balance.
The payment schedule is as follows:
|
Payment |
Amount Due |
|
Down Payment |
50% of total eligible balance |
|
Service Fee |
$25.00 (non-refundable) |
|
First Installment |
25% of total eligible balance |
|
Second Installment |
25% of total eligible balance |
Specific due dates for each installment will be established and posted on the Bursar’s Office department webpage.
Payment Methods
Payments may be made in person using cash, check, or credit card, or online by credit card through the student payment portal (PASPort). Financial aid, scholarships, and other eligible credits such as third-party sponsorships may be applied to a student's account when available and may reduce the remaining balance owed under the installment plan.
Late or Missed Payments
Failure to make installment payments by the established due dates may result in:
- Assessment of applicable late fees.
- Placement of a registration hold.
- Inability to register for future semesters until the balance is paid in full.
- Past due balances may be referred to an external collection agency.
Financial Aid
Authorized financial aid awards may be applied to down payment amount. Once the award is disbursed to the student account, students remain responsible for any balance not covered by financial aid. Enrollment in the payment plan does not guarantee financial aid eligibility or disbursement.
Refunds and Student Account Adjustments
If a student's account balance changes due to course adds, drops, withdrawals, or adjustments, the payment plan may be recalculated. Any refund will be processed in accordance with the College's refund policy after all outstanding obligations have been satisfied.
Payment Plan Obligations
Enrollment in the installment plan constitutes a financial commitment. Students are responsible for reviewing all payment deadlines and ensuring that the required installment amounts are paid by the established due dates. Payments may be made at any time before each due date. The $25.00 service fee is non-refundable, regardless of whether the payment plan is completed, canceled, or terminated. Students who fail to fulfill the terms of the installment plan remain responsible for the full unpaid balance owed to Laredo College.