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Old 10-09-2010 at 09:09 PM   #1
Juve
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Payment
ok so i picked the flex plan 2 where i pay 25% before sept first as you see below i did do that , but then i have to pay 759 monthly until march , i payed 760 as you can see before the end of the month and i got charged interest why is that ??????? :(



2010-07-27 SCHOLARSHIPS - SFA -2000.00
2010-08-25 PAYMENT/ADJUSTMENT -469.34
2010-08-25 PAYMENT/ADJUSTMENT -1000.00
2010-09-29 PAYMENT -760.00
2010-09-30 INTEREST CHARGE 42.10
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Old 10-09-2010 at 09:19 PM   #2
dmzz
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You pay interest on whatever the balance > $0.00 is in your account. Doesn't matter what payment plan you selected, that was basically for mac to trust that they will get their money. They are still going to charge you interest when you owe them. Think of the payment plan as the MINIMUM you need to do. They only offer multiple "minimums" because some are more convenient for people than others. They want to be able to get as much money as they can, so being flexible helps.

Always remember, a University is a business first, friend second.
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Old 10-09-2010 at 09:21 PM   #3
Juve
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FLEX PLAN – 2 TERM (available to Undergrad students in both Term 1 & 2 and Graduate students only (not MBA):
• This plan is for students who want the flexibility of spreading their payments over September to March.
• The per-term $35 Flex Plan Fee will be automatically assessed to your student account at the beginning of each term provided a balance remains.
• A minimum payment of 25% of your Tuition, Residence and Meal Plan fees (including the $35 Flex Plan Fee (as indicated on the Payment Agreement) is required no later than September 1st
• Once the minimum amount is paid, interest is charged monthly on the balance remaining (please see “Interest” below)
• The remaining 75% can be paid anytime between September 2nd and March15th. Balance of tuition, residence and meal plan fees in full are due no later than March 15th.
• Accounts not paid in full by March 15th will be assessed a $35 Late Payment Fee, and be blocked from accessing grades, transcripts or future registration)
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Old 10-09-2010 at 09:23 PM   #4
Juve
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so i will pay 40 dollars per month , dam im gana pay the whole thing then
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Old 10-09-2010 at 09:29 PM   #5
dmzz
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So where's the issue? You clearly stated that interest will be charged on all remaining balances, at the end of every month. That you got charged, should not of come as a surprise.
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Old 10-09-2010 at 09:30 PM   #6
Juve
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i didnt know that until i posted this and read the terms and conditions thanks anyway
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