2-Month Payment Plan Available Now
As of January 5th, we offer a 2-month payment plan option for the Spring 2019 term, with payments drawn on February 5th and March 5th. Please read below for details on how to qualify for this plan.
3 Steps for 2-month Payment Plan Eligibility
The 2-month Payment Plan requires 3 steps to enroll: cover at least 1/3 of eligible charges with payment and/or financial aid; contact SFS once 1/3 payment requirement is met and an agent will enable the plan; and enroll in the plan online through UVAPay.
To qualify for the 2-month Payment Plan option, a student must be able to meet at least 1/3 of the total payment plan eligible charges (i.e., tuition, required fees, housing, and dining) using any combination of financial aid, scholarships, or personal payments. Once the 1/3 requirement is confirmed, a Student Financial Services agent can enable the 2-month payment plan offer in UVAPay. The student or authorized user can then enroll in the plan by following the step by step instructions for enrolling in the UVAPay optional semester payment plan.
- Cover at least 1/3 of the total eligible payment plan term charges (i.e., tuition, required fees, housing, and dining) with payment and/or financial aid.
- Contact SFS at email@example.com or (434) 982-6000 once the 1/3 requirement is satisfied. An SFS agent will confirm the requirement has been met and will enable the payment plan offer. Once the 2-month plan is offered, the student or authorized user will receive an email notification to enroll in the plan.
- Enroll in the 2-month plan through UVAPay by following the link in the email or by logging into their UVAPay account.
1/3 Requirement Example
If a student has total term charges of $12,000, the student would need to have total credits of $4,000 on their account to qualify for the 2-month Payment Plan ($12,000 ÷ 3 = $4,000). If the same student accepted their Direct Subsidized Loan of $3,500 ($1750 for the term) and a Direct Unsubsidized Loan of $2,000 ($1,000 for the term), the student would have a total anticipated aid of $2,732 (after loan fees) toward the term charges. This student would need to pay $1,268 more ($4,000 - $2,732 = $1,268) in order to qualify for the 2-month Payment Plan.
Read below for more information on the semester payment plan and how to sign up after May 1st for the Fall 2019 payment plan through UVAPay.
Of course, there is no requirement to use the payment plan; you may pay your balance due in full by your due date instead. Note that there is no payment plan available for the Summer or January Term.
Follow this link for step-by-step instructions for enrolling in the UVAPay optional semester payment plan, or read below for important information about the plan.
Eligibility and Eligible Charges
- All students who are directly charged by the University.
- Authorized users can enroll in a payment plan on behalf of their student.
- Students and authorized users must be willing to allow automatic withdrawals from a personal U.S. checking account or scheduled charges to debit or credit card.
|Charges eligible for and covered by the payment plan|
|Tuition and Required Fees||Tuition, course fees, comprehensive fees, school fees, and activity fees|
|Housing||Costs for living in University housing facilities|
|Dining||Costs for University meal plans|
|Charges not eligible for or covered by the payment plan|
|Other/Referred charges||Charges referred to the student account from another University office. Examples include University Bookstore, Student Health, Library, Parking and Transportation, Emergency Ride Program, Honor Loans, and School of Architecture printing fees|
Payment Plan Ownership
Students or one of the student's authorized users can enroll in a UVAPay semester payment plan.
- If the student enrolls, the student is the owner of the plan and can elect to share email notifications with any (or all) of their authorized users.
- If an authorized user enrolls in a payment plan for their student, the authorized user is the owner of the plan and will automatically receive the payment plan emails (as will as the student).
Notification and Processing Timeline
Students and all of their authorized users receive all payment plan notifications generated from the payment plan. Student notifications go to them at their UVA email address. 15 days prior to an installment payment, all plan owners receive notice of a possible rebalance. 10 days prior to an installment payment, those whose balance will go up or down receive a confirmation of that pending change. 1 day prior to an installment payment, we check again to see if any plans can be balanced down and notify plan owers impacted.
|15 Days Before||Possible Rebalance Notification|
|Notification email letting you know your plan may be rebalanced in five days.|
|10 Days Before||Rebalance Activity (Increase or decrease to match eligible charges and aid changes)|
|If you have eligible charges on your student account, your payment plan balance will adjust to match the eligible charges on your student account (see eligible charges above). If you make a payment or receive aid (including anticipated aid), your payment plan installment amounts will adjust to account for the credits. Remaining installments will be adjusted (equally) to ensure payment in full when the final installment is processed. Log in to UVAPay to review these changes.|
|5 Days Before||Autopay Reminder|
|Reminder email letting you know your autopayment will be processed on the 5th. Make sure you have funds available in your bank account or credit card to cover the upcoming payment and avoid cancellation of your payment plan. Want to change your payment method? Log in to UVAPay to manage your payment method now.|
|1 Day Before||Final Rebalance Activity (Decrease only)|
|If you received additional aid (e.g., scholarships, loans, grants) or submitted recent payments, remaining installments on your payment plan will be rebalanced down (equally).|
|5th of the Month||Installment is Processed|
|Monthly automatic installment is processed automatically from your checking account or debit or credit card. Credit card or debit card transactions will incur a 2.75% service fee for each transaction. You will be notified by email when the payment has been processed.|
Cost to Participate
There is a $45 non-refundable enrollment fee for each term, Fall or Spring, for which you choose to enroll. The enrollment fee is deducted from your bank account or charged to your debit or credit card as soon as you complete the enrollment process. If you are signing up for the Spring term well in advance of when it becomes active, however, your enrollment fee is not charged until 5 days before the plan becomes active in November.
Payment Plan Rebalancing
Since you can enroll in a payment plan before the University has posted tuition, fees, housing, and dining charges to the student account for the given semester, you may need to estimate your payment plan budget in the early months. Later, once charges are posted to the student account, the payment plan will switch from the "budget" phase to the "actual" phase, and we will periodically rebalance your payment plan to match the student account balance. So whether you initially budgeted too much or too little, UVAPay will automatically correct your remaining installment amounts to avoid overpayment or underpayment. For example, if the charges on your student account decrease because you dropped some classes, the payment plan balance will also decrease during the monthly rebalancing process. Automatic rebalancing makes sure your student account balance will be paid in full by the end of the payment plan period.
Rebalancing will occur prior to the August, September, and October installments of the Fall plan and prior to the January, February, and March installments of the Spring plan.
Here's how it works:
Before you have actual charges posted to your student account, you will build an budget of your payment plan in UVAPay using the tuition estimator (housed within the enrollment form) or the cost of attendance information, and you will be asked to provide information about other credits you anticipate will apply to your student account. These tools will assist you in estimating the "out-of-pocket costs" you will need to pay over the course of your payment plan period. During this budget phase, monthly installment amounts are based on your estimated balance, divided by the number of installments remaining in the payment plan. Need to make changes to your budgeted amounts? Call or email SFS. Or just wait until after charges post and we automatically adjust your budgeted balance.
Soon after your term charges have posted to your student account, typically by mid-July, we will adjust your payment plan balance to match the student account balance. This process is called rebalancing and it happens every month, about ten days before each installment is processed. Rebalancing knows to subtract the anticipated financial aid displayed on the Account Summary and Account Activity tabs when it calculates your payment planbalance. Don't worry about being caught off guard by a new installment amount, though. We'll keep you informed by email if we are rebalancing your plan up or down in plenty of time for you to ensure you have the funds in your account by the time of the installment payment on the 5th of each month.
Enrollment Process Overview
To enroll in a payment plan, log in to UVAPay and select the Payment Plans tab. You will see the payment plan options available to you. The earlier you enroll in a plan, the more installments you can use, so be sure to note the expiration date on each offer in UVAPay. Your installment schedule will update dynamically as you follow the prompts and enter your information in the budget worksheet. Once you decide to activate a plan, you will receive an email from Student Financial Services confirming your enrollment. Login to UVAPay at any time to see the status of your plan. Follow this link for step-by-step instructions for enrolling in the UVAPay optional semester payment plan.
Paying with eCheck, Credit or Debit Card
We recommend you use "eCheck" as your payment method to avoid paying the non-refundable 2.75% convenience fee associated with each transaction paid by debit or credit card. If you choose to make your monthly installments by credit or debit card, you will be charged a non-refundable 2.75% convenience fee for each transaction. On a monthly installment of $3,000, for example, the convenience fee will be $82.50.
Changing your Payment Method
Only the payment plan owner has the ability to change the payment method. To do so, the owner should:
- Log into UVAPay
- Select the Payment Plans tab
- Click on the Manage Autopay button, then change or update the payment method for upcoming installments
- Any changes or updates to the Payment Method must be completed no later than one calendar day before the date of the scheduled automatic installment.
For example, if a payment is scheduled for October 5 and the payment plan owner would like to change the bank account the automatic installment payment will be drawn from, he or she must do so by midnight, Eastern Time, on October 4. Otherwise, the installment payment will be drawn from the old bank account instead of the new one.
You will receive notification before any installment is processed to give you an opportunity to make sure sufficient funds are available to process each upcoming installment. Once your payment plan is in the Actual Phase, if an installment fails for any reason, the payment plan will be automatically terminated. This might occur if a credit card transaction is declined, an eCheck is returned for insufficient funds, or your bank account is closed. You will also be charged a $50 non-refundable fee for each failed payment plan installment. If you wish to reactivate your plan after termination occurs for this reason, you must contact Student Financial Services directly for assistance.
Multiple Payment Plans
Students can have only one active payment plan at a time during an academic term. Even if a student has more than one authorized user, the student may only have one payment plan for a payment plan period. For example, two authorized users cannot both have a fall term payment plan for the same student in the same semester.