A Deferred Payment Plan (DPP) is available to students in good financial standing who also have a current term balance of $50 or greater.
Deferred Payment Plan (DPP) Basics
- The DPP requires students to pay an initial 50% of the total term charges (upon payment plan enrollment) plus a $30 service charge, by the term’s due date. A second and third payment installment follow in the next two months after the initial 50% payment.
- Students who pay at least 50% but do not enroll themselves in the DPP will be added to a plan for a $40 fee.
- Students who do not pay 100% of their charges by the due date are required to enroll in the DPP.
- The Office of The Bursar reserves the right to add a student to a DPP if the student has an unpaid balance over $50 as of the statement due date. There is a $40 fee when the Office of the Bursar adds a student to a DPP.
- The installments can fluctuate based on any additional credits or charges during the term.
How to Enroll in a Payment Plan
- Log in to MyUTK
- Under “My Resources”, select “Pay Fees/Account Balances”.
- Select “Payment Plans” and pay your 50% balance down payment to complete your enrollment.
What Does a DPP Look Like?
After the first installment of 50 percent (which is due upon payment plan enrollment, and before the payment deadline), the second installment of 25 percent is due the next month, and the final installment is due the month after the second installment.
There is a $35 late fee if you do not pay the installments on time, even if you do not receive a reminder statement. All unpaid fees and charges must be paid in order to access registration services, receive a transcript, grades, or a diploma.
All existing rules and policies pertaining to returned checks, refunds, withdrawal from school, dropped classes, application of financial aid to unpaid accounts, reinstatement, service charges, and collection costs are applicable to the DPP.
If you are not eligible for the DPP, you must pay 100% of the total term charges by the due date so your schedule isn’t cancelled.
Without Financial Aid
DPP Fee: $30
1st installment, due on the payment due date (50% of balance): $2,813.50 (Leaving a balance of $2,813.50)
2nd installment, due the month after 1st installment (half of remaining balance): $1,406.75
3rd/Final installment, due the month after 2nd installment (remaining balance) : $1,406.75
With Financial Aid
DPP Fee: $30
Financial Aid for the term: $3,250
One half of charges: $5,627/2= $2,813.50**
One half of financial aid- applies to the First payment: $3,250/2=$1,625***
50% due on the payment due date (First payment): $2,813.50-$1,625=$1,188.50 Down payment from student/parent
2nd Installment: $2,813.50**/2=$1,406.75
Financial Aid: $1,625***/2=$812.50
$1,406.75-$812.50=$594.25 due from student/parent
Final Installment of $594.25 due from student/parent