What is the
Monthly Payment Plan?
The Alfred State Monthly Payment Plan (MPP) enables families to spread educational expenses over equal monthly installments to avoid additional borrowing. Enroll online through my.Alfredstate/finances when you pay your semester bill.
4-Month Payment Plan
Nov. 13 thru Jan. 19
This plan allows you to budget semester expenses (tuition, fees, campus housing, and meals) into a down payment plus four (4) additional payments.
Due dates for this plan
Feb. 3 | March 3 | April 3 | May 3
Please note that the $25 application fee and 20% down payment are due at the time of signing, then the remaining balance is to be paid in four (4) equal payments on their due dates.
3-Month Payment Plan
Jan. 20 thru Feb.16
This plan allows you to budget semester expenses (tuition, fees, campus housing, and meals) into a down payment plus three (3) additional payments.
Due dates for this plan
March 3 | April 3 | May 3
Please note that the $25 application fee and 25% down payment are due at the time of signing, then the remaining balance is to be paid in three (3) equal payments on their due dates.
GI Bill® is a registered trademark of the U.S. Department of Veteran Affairs (VA). More information about education benefits offered by the VA is available at the official U.S. government website.
No Interest Charges
Alfred State does not charge interest on our Monthly Payment Plans. The only cost is a $25 non-refundable enrollment fee for each semester to cover administrative expenses.
Using a 529 College Savings Program?
Please visit nysaves.org for information on how to make a withdrawal. Please make the withdrawal request at least 30 days prior to the semester billing due date to allow for processing time.
Enrollment in the Monthly Semester Payment Plan is contingent on approval. If you defaulted on a previous plan or were late with your payments, you may no longer be eligible to use the plan. You will not have the Monthly Semester Payment Plan option on your online bill if you have been determined to be ineligible. You may contact Student Records and Financial Services to appeal this decision.
Determining Your Monthly Payment
Add up your billed expenses for the semester you wish to budget and subtract any known credits you may have (grants, loans, scholarships, etc.) to determine your remaining balance due. Remember there is also a $25 non-refundable application fee due along with the down payment when signing up for the plan.
- If you are signing up for the 4-month semester payment plan, divide this balance by five to determine your down payment and your monthly payments.
- If you are signing up for the 3-month semester payment plan, divide the balance by four to determine your down payment and your monthly payments.
- If you are signing up for the Veteran's semester payment plan, divide the balance by four to determine your monthly payments.
Please refer to the following schedule to help determine when your payment is due.
Payment Plan Due Dates
|Sept. 3||Oct. 3||Sept. 10|
|Oct. 3||Nov. 3||Oct. 10|
|Nov. 3||Dec. 3||Nov. 10|
|Dec. 3||Dec. 10|
|Feb. 3||March 3||Feb. 10|
|March 3||April 3||March 10|
|April 3||May 3||April 10|
|May 3||May 10|
Terms and Conditions
Enrollment in the Alfred State’s Monthly Payment Plan (MPP) is subject to approval based on payment history of previous payment plans. This is accomplished by completing, signing, and returning the appropriate application form(s) to the Student Records and Financial Services Office. A non-refundable application fee of $25 (per semester) and down payment are required when signing up for a Monthly Payment Plan.
If you are applying by mail, you will not be considered enrolled until your completed application forms, non-refundable application fee, and down payment are received. Enrolling in the Monthly Payment Plan after the initial due date will not change the payment due dates. It will shorten the period between the first and second payment.
Adjustments and Cancellation
Only charges billed by Alfred State may be included in the Monthly Payment Plan. Increasing the amount covered by your Monthly Payment Plan requires a request in writing from you the student. An email from your Alfred State email address is acceptable. If you increase your budgeted amount, your monthly payments will be increased. Additional payments will not be added to the plan.
Accounts will be reviewed periodically and adjusted if additional financial aid has been applied to your account. You can also contact the Student Records and Financial Services Office in writing if you have a credit balance and would like the adjustment made immediately. An email from your Alfred State email is acceptable.
You may cancel your Monthly Payment Plan on BannerWeb or request in writing to have your plan reduced or cancelled. If you elect to cancel your plan and you owe a balance, the balance must be paid in full prior to the next installment due date or a late fee will be added.
Monthly Payments and Balance
Monthly payments are due on the 3rd of the month by 4 p.m. If the due date falls on a weekend or holiday, payments are due by 4 p.m. on the next business day. There is no grace period. You are responsible for making the payment each month. Credit Card payments are not automatically made by the Students Records and Financial Services Office unless you complete the authorization on the front of this form.
If mailing the payment, make sure you allow enough time to reach the office on or before the due date. Payments received after the due date will be assessed a late fee. All payments made through the Alfred State’s Monthly Payment Plan will be credited directly to your account.
Please read your email - A payment due reminder will be sent via e-mail each month as well as late notices.
The receipt of additional financial aid in the form of grants, loans, scholarships, etc. will lower your monthly payment. You are still responsible for making your payments until your plan has been adjusted or the balance due is zero. Financial aid cannot be used as a payment towards the Monthly Payment Plan.
Fees and Other Charges
Your application fee is non-refundable. It will also be assessed a $20 service charge for any payment returned for insufficient funds, or which is not collectible for any other reason, and your plan will be cancelled. There will be an additional late charge for any payment not received in full by the due date.
- If payment due is from $0 – $999.99 • A $30 late fee will be charged to your account.
- If payment due is from $1,000 – $1,999.99 • A $40 late fee will be charged to your account.
- If payment due is $2,000 or above • A $50 late fee will be charged to your account.
Failure to Pay
In the event you fail to pay the total amount due each month by the due date, your enrollment in the Alfred State’s Monthly Payment Plan will be terminated. A late payment fee will be added and the remaining account balance plus the late fee will be due in full. Once terminated from the Monthly Payment Plan for any reason, you will not be able to use the plan again.