Procedure No. 601.8
Area: Finance Department

Adopted: 04/23/96
Revisions Approved:

Description: Atlantic Cape Payment Plan


The Atlantic Cape Payment Plan is an interest-free way for students to spread the cost of attending college by making regular installment payments. The plan covers tuition and fees only. Any additional expenses for housing, books or supplies are the responsibility of the student.

1. Full-time students: semester costs are spread over three months; an initial payment equal to 50 percent of tuition and fees due, with two additional monthly installments equal to 25 percent each. Part-time students will follow the same payment schedule as full-time students.
Culinary students: semester costs are spread over five months; tuition and fees are paid in five monthly payments equal to 20 percent each.

The payment schedule by semester and payment methods are published in the course schedule.

2. Students pay a non-refundable payment plan application fee and complete a signed contract that outlines the plan in more detail. The plan is offered interest-free as a service to Atlantic Cape students, so there are no additional charges except late fees.

3. Late payments are assessed a processing fee.

4. Final approval of all deferred payment plan participants will be the responsibility of the Bursar's Office. Appeals will follow normal authority lines within the Dean of Administraiton and Business Services department.

5. Student deferrals will be either with a) Deferred Payment Plan or b) Financial Aid.

6. Any full-time or part-time student in good financial standing with Atlantic Cape is eligible to apply. Students are considered full-time when taking 12 of more credits a semester, or as specified by their program of study.,

7. The plan is not a student loan or grant program and is not based on financial need.

Procedures:

Chargeback Certificates for Non-County Residents No. 601.9
Refund No. 601.10
Renegotiating Perkins Loans No. 601.11
Renegotiated Payment Agreement Supplement 1, No. 601.11

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