Skip to content

PAYMENT SCHEDULE AND FEES

Payment Schedule


Your initial payment is due the first day of the second month after the application is submitted to us.


Payment Dates

Payment Dates
Application received by the last day of
First payment due date
November January 1
December February 1
January March 1
February April 1
March May 1
April June 1
May July 1
June August 1
July September 1
August October 1

Current Program Fees


See the explanation of fees below.


Current Program Fees

Current Program table
Type of Fee
Description
Amount of Fee
ADMINISTRATIVE FEES
Payment Processing* Charge assessed for monthly and
annual payment plans
$3 per payment
(included in contract prices)
Administrative Load Ensure adequacy of annual program administration Included in contract prices
SERVICE FEES
Late Payment - Monthly Payment Plan Payment received after payment grace period $20
Late Payment - Lump Sum, Annual or Down Payment Payment received after payment grace period 1% of outstanding balance
Non-sufficient Funds/Returned Payment Payments returned by financial institution $20
Change Payment Schedule Change in payment schedule $15
Change of Purchaser Change of purchaser of plan $15
Change of Beneficiary Change of beneficiary of plan $15
Change Type of Plan Changing from one plan type to another $15
Document Replacement New coupon book, welcome package, etc. $15
Benefits Transfer to Private or Out-of-state School Processing private or out-of-state school invoice $15 per institution attended
CANCELLATION FEES
Cancellation - Voluntary** Purchaser elects to cancel account The lesser of $100 or 50% of amount paid
Cancellation - Involuntary Plan is cancelled due to delinquency,
incorrect information, etc.
The lesser of $100 or 50% of amount paid
Cancellation - Fraud Plan is cancelled due to deliberate misrepresentation The lesser of $100 or 50% of amount paid
Account Maintenance - Lump Sum Payment Charge assessed for cancellation of lump sum plans 35 cents per month

Need more help finding the right plan? Go to collegeillinois.org/PlansAndPricing to use our Price Calculator
tool and share your cost of college.