Installment Payment Plan
Virginia Commonwealth University's Installment Payment Plan offers a convenient method for planning and budgeting educational costs. The plan allows students to divide the cost of tuition, fees, and room and dining plans into four installment payments throughout the semester. IPP is only available in the fall and spring semesters.
Take note
Installment Payment Plan enrollment for the Spring 2024 Semester is open from December 14, 2023 through February 22, 2024.
About IPP
The cost for IPP is a nonrefundable $25 application fee, which is submitted along with the first payment of the semester. VCU does not assess interest on the installment balance.
Students must enroll in the payment plan within the first four weeks of classes, and students must re-enroll in the payment plan each semester. Both the initial payment and completion of the online application are required for the student to participate in IPP.
Students must make a personal payment within the enrollment period in order to participate. Financial aid, third-party scholarships (including payments from 529 and trust accounts) and/or deposits will reduce the student's overall balance. These payments are not considered installment payments.
IPP is not available for past-due balances, nor may students enroll in IPP after the enrollment period has closed.
Once enrolled, eStatements for the remaining three installments should reflect only the installment payment that is due. If the eStatement requests the full account balance, contact the Student Financial Management Center immediately. If financial aid or third-party awards have not been applied to the student’s account by the initial due date, the first installment may be higher than expected. Questions regarding financial aid disbursements should be directed to the Student Financial Management Center.
Students with current charges of $100 or more are eligible to participate in IPP. All prior semester balances must be paid in full to be eligible. The IPP is only available in the fall and spring semesters.
Students who are receiving financial aid may deduct their aid to determine the net total due. If it is $100 or more, the remaining amount may be paid by installments.
In some cases, a student may receive a financial aid refund, and then subsequent charges for the semester are added to the student’s account. Students who have received a refund are ineligible to participate in IPP unless the refund has been repaid to VCU in full. The student must then pay the initial payment and follow the instructions to enroll in IPP.
Students or authorized payers can enroll in IPP by completing the Installment Payment Plan application, which is available at the bottom of this page during the enrollment period. Initial payment should be made prior to completing the IPP application.
VCU will generate eStatements for the remaining three installments. IPP participants may schedule automatic payments for the remaining installment payments through the billing and payment website using the “web check” payment option only. Payment for charges added to the student account after the account has been enrolled in the IPP becomes due immediately. These charges, which may include meal plans, housing assessments and financial aid adjustments, are not added to the IPP calculations.
2022-23 academic year
|
Payment |
Fall 2023 semester |
Spring 2024 semester |
|
1 |
Aug. 24 |
Jan. 18 |
|
2 |
Oct. 17 |
March 19 |
|
3 |
Nov. 10 |
Apr. 12 |
|
4 |
Dec. 4 |
May 7 |
How to calculate your initial IPP payment
Completing the IPP application will not recalculate the student’s balance. The initial payment amount must be calculated and manually remitted. Students must make a personal payment (check, credit card, and/or cash payment) within the enrollment period to participate. Financial aid, third-party scholarships (including payments from 529 and trust accounts), and/or deposits do not count as an IPP payment.
| Example of how to calculate the initial payment | ||
|---|---|---|
| Tuition and fees | $7,821.00 | |
| Dorm charge | $3,650.50 | Add all current semester charges |
| Meal plan charge | $2,725.00 | |
| Admission deposit | $100.00- | |
| Housing deposit | $250.00- | Subtract deposit, scholarships, third-party and financial aid awards |
| Student loans | $2,722.00- | |
| Total net balance | $11,124.50 | The remaining net semester balance |
| 1/4 the net balance | $2,781.13 | Divide the net balance by four |
| IPP fee | $25.00+ | Add the $25 IPP fee |
| Initial payment amount | $2,806.13 | The amount of the initial IPP payment |
Conditions for enrolling in the Installment Payment Plan
- Enrolled in current semester course(s)
- Current semester charges are $100 or greater
- All prior semester balances are paid in full
- A personal* payment of one-fourth of the semester charges plus the $25 installment payment plan fee (less financial aid and/or scholarships, if applicable) has been paid and is reflected on the student account
- If applicable, any current semester refund has been repaid
*A personal payment must be made within the enrollment period. Financial aid, third-party funds (including payments from 529 and trust accounts), and/or deposits are not considered a personal payment.