New CSU payment plan allows students to pay their bill in elective monthly installments

Yixuan Xie

As the registration for fall semester approaches, new classes and new rooms, as well as new bills, inevitably come to mind.

The Office of Financial Aid at Colorado State University announced CSU payment plan, letting students pay their bill for the 2018-2019 academic year in monthly installments rather than in one lump sum.

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The elected amount will be automatically deducted each month from the designated domestic checking or savings account, according to the Office of Financial Aid. Students and authorized FAMweb users may begin paying their bill for the fall 2018 term as early as this March.

“We believe it can serve as a viable option for students and families to more easily cover the gap between what financial aid, work and other resources does not cover on their bill,” Tom Biedscheid, the director of Office of Financial Aid, wrote in an email to the Collegian. “Any opportunity to more easily cover the cost of students’ education is a benefit.”

For each fall or spring term, a maximum of six payments is allowed. The summer 2018 term is not included in the plan.

For the fall 2018 term, the first payment has already been withdrawn on March. 5. The following five payments are scheduled to be withdrawn approximately on April. 4, May, 3, June 5, July 5 and Aug. 3. Plan enrollment is required and the corresponding enrollment deadline will be 11:59 p.m. on March. 31, April 30, May 31, June 30 and July 31. 

The first payment for the spring 2019 term will be withdrawn on Sept. 5. 

To enroll in the CSU payment plan, students and authorized FAMweb users must login to their RAMweb or FAMweb account. A one-time and nonrefundable fee of $25 will be deducted for each term to enroll.

Biedscheid wrote the Office of Financial Aid is intentional in building in as much flexibility as possible. Students can have as many people paying on their plan as possible. They just have to give each person access via FAMweb.

“The idea here is that if the student has parents, grandparents, other relatives, etc. that might want to help out, they can easily set up their own plan,” Biedscheid wrote.

Flexibility was also the focus for the number of payments and amount of each payment, Biedscheid wrote. Payment plan users can determine how many payments to make over the course of the semester and elect to pay any amount each month. If the month has not passed, they can go back and change amounts at any time.

The payment plan can be used to pay tuition, university fees and residence hall room and board charges billed to CSU student accounts. However, rent for university apartments is not included since they are billed monthly.

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Biedscheid wrote since the payment plan launched without much publicity, they have not seen a lot of activity yet.

“We also just started awarding financial aid for next year and we are marketing the payment plan through that process,” Biedscheid wrote.

Melanie Reeves, a sophomore psychology major, said she would definitely use the new payment plan.

“I think this is really cool,” Reeves said. “It won’t be like a giant (chunk) out of there and people would be able to pay it easier.” 

Ciara O’Donovan, an undeclared freshman, said launching the payment plan is a really good idea.

“I heard that a lot of people, for the fall semester, have to wait until December to get enough money from working to pay the entire bill,” O’Donovan said. “I think it is really good to be able to choose the amount you pay each month and go with your own paces without having to worry about this big bill due at a certain time.”