Some students choose not to take out student loans, but cannot pay for the cost of their tuition all at once. For these students, Erikson offers a payment plan. Students who are reimbursed by their employer at the end of a term or whose student loan does not fully cover the cost of tuition also use payment plans.

By setting up a payment plan, you can spread the cost of their tuition over a term. A set amount is due the 15th day of each month. Worksheets for calculating monthly costs can be obtained in the student billing coordinator’s office. There is a $15 cost per term for this service. Your account balance must be fully paid by the end of a term for you to register for subsequent terms.

Payment plans are a popular alternative to student loans. However, before declining the loan option, it is very important that students assess their financial ability to make a monthly payment. Late payments are subject to fees and finance charges.

For more information on payment plans or to obtain an estimate, please e-mail the student billing coordinator  or call (312) 893-7122.