TSU DEFERRED PAYMENT PLAN

Students may defer up to 50% of their current balance for room, board, tuition and fees for the fall and spring semesters. The total balance due must be at least $600 after all discounts, financial aid, and other credits have been applied to the student's account.  At the time of enrollment in the plan, 50% of the current balance, a $50.00 administrative fee, and any prior balance must be paid in full.  Contact the Bursar's Office at (615) 963-5472 for additional information.  The TSU Deferred Payment Plan is not available for the summer term.

FORMULA: Following is the formula for calculating the amount a student can defer over three installments:

* The TSU Deferred Payment Plan is primarily recommended when the amount to be deferred does not include room and board charges since this plan has a lower administrative fee than the Combined Deferment Plan and the student would be ineligible for participation in the Room and Board Deferment Plan.

**Any previous balance must be paid in its entirety and cannot be deferred. That balance should not be related to prior participation in any deferred payment plan.

ELIGIBILITY: A student must be in good financial standing with the University and must be prepared to make a minimum down-payments equal to 50% of his/her current balance plus any previous balance and a $50.00 service fee. A student who fails to make timely payments in a term may be denied participation in any deferred payment plan in subsequent enrollment periods.

TERMS: The amount deferred is payable in three monthly installments due September 25, October 25 and November 25 for the Fall Term and February 25, March 25 and April 25 for the Spring Term. Tennessee State University is not obligated to send reminder notices before payments are due. All existing rules and policies pertaining to returned checks, refunds, withdrawals, dropped classes and collection costs are applicable to the TSU Deferred Payment Plan.

SERVICE CHARGES AND FINES: A $50.00 service fee is assessed each term to defray administrative costs. This fee is due with the initial payment on or before the registration payment deadline listed in the published Class Schedule. An additional late payment charge of $25.00 will be assessed on September 26, October 26, November 26, for the Fall Term and February 26, March 26, and April 26, for the Spring Term for each installment not paid on or before the due date.  If the due date falls on a weekend, payments not received by Friday are deemed late. Tennessee State University will withhold all services from the student, including grades, diplomas, transcripts and future registration until all fees have been paid in full. Failure to pay an installment when due may render this contract null and void and require immediate and full payment of all remaining charges. As stated above, a student who fails to make timely payments in a term may be denied participation in any deferred payment plan in subsequent enrollment periods.

ACKNOWLEDGMENT: By signing this document, I acknowledge that I have read this policy, understand its provisions and agree to pay Tennessee State University the three monthly installments noted below.

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NOTE: THE DOWN-PAYMENT AMOUNT MUST ACCOMPANY THE APPLICATION.  Both the down-payment and the application should be forwarded to the Bursar's Office.