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 email the student billing coordinator or call (312) 893-7122.