The Brewer Deferment Plan is for students who do not wish to enroll in the monthly payment plan, but who want to defer a portion of their term charges until later in the term. The maximum amount that can be deferred is 1/3 of tuition, fees, housing and dining charges. Bookstore charges, health insurance premiums, and charges referred from other departments are not eligible for deferment. There is no charge or interest for this plan.
To qualify, a student must be able to meet at least 2/3 of the total term charges (tuition, fees, housing, and dining) using any combination of financial aid, scholarships, or cash payments. For example:
If a student has total term charges of $12,000, the student would need to have credits of $8,000 on their account to qualify for the Brewer Deferment ($12,000 ÷ 3 = $4,000; $4,000 X 2 = $8,000). The same student has accepted a Direct Subsidized Loan of $3,500 for the year ($1,750 for the term in question) and a Direct Unsubsidized Loan of $2,000 ($1,000 for the term in question). This means the student has anticipated aid of $2,732 (after loan fees) toward the term charges. This student would need to pay $5,268 more ($8,000 - $2,732 = $5,268) in order to qualify for the Brewer Deferment.
To avoid incurring late payment penalties, the student must sign up for the deferment by the bill due date, but the Brewer Deferment will be available through the first Friday of the semester. The student must come in person to the Student Financial Services office in Carruthers Hall with their student ID card to sign a promissory note for the remaining balance (up to 1/3 of the total term charges). The deferred amount is due on October 31 for the Fall term or March 31 for the Spring term. If the deferred amount is not paid by its due date, a 1.5% late penalty will be assessed.