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Installment Payment Plan - Terms

Terms that students will read and accept before completing the Installment Payment Plan.

I, (student’s name), hereby agree to pay the balance deferred as stated in this agreement in 2 installment payments on or before the due date specified for each installment. I understand that INSTALLMENT AMOUNTS MAY CHANGE over time to account for any new charges, payments, or financial aid adjustments. I also agree to pay the payment plan enrollment fee of $50.00 and an additional $40.00 enrollment fee if I include housing charges in my installment plan, for a possible total enrollment fee of $90.00. I understand that a $25.00 late fee will be assessed for each tuition and/or housing installment payment that is late, for a possible total late fee of $100.00. I also understand that failure to meet the terms of this agreement may entitle the University of Memphis to (1) declare the full balance plus late fees immediately due and payable by law, (2) refuse subsequent registration for any classes and/or drop current classes, (3) deny future enrollment in any payment plan, and (4) withhold grades, diplomas, or transcripts from being released until the unpaid balance, as well as all attorney fees, legal expenses, and other collection costs, are paid in full. The 1st Installment in the amount of $______ is due on 10/01/XX (3/01/XX for Spring). The 2nd Installment in the amount of $______ is due on 11/01/XX (4/01/XX for Spring).

This agreement is dated _______________.

Any false information entered hereon constitutes as fraud and subjects the party entering same to felony prosecution under both federal and state laws of the United States. Violators will be prosecuted to the fullest extent of the law.