Payment Options
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In addition to the standard payment by semester, monthly payment options are available through the TuitionPay Plan from Sallie Mae. This is a contract between the bill payer and Sallie Mae, and each account is FDIC insured up to $100,000. Please keep in mind that you can adjust your contract at any time. This may be appropriate when changes to billed charges or financial aid occur after the contract is initiated. There is a small application fee for this interest-free, debt-free way to spread payments over a number of months. TuitionPay offers three payment options for a full academic year at Colby:
Half of the contracted amount will be credited to the student account for each semester. The amount shown on Colby's Student Account Statement reflects the share for that semester's charges and may not agree with what has actually been paid to TuitionPay. A student may contract for one semester over fewer months. (If the student intends to enroll in a program of study which is NOT BILLED by Colby, you cannot enroll in the Plan for that period of study.) If you contract for more than what is owed to Colby, no refund will be issued from the student account until all payments are received by the College. This could take up to 45 days after your last payment is made to TuitionPay. Therefore, if your contracted amount results in an anticipated credit balance on the student account, it is best to reduce your plan with TuitionPay. If there is a balance due on the student account after the semester's portion of the contract has been applied, late fees will be assessed according to the College's usual billing terms. For information, please call TuitionPay at 800-635-0120 go to: http://tuitionpay.salliemae.com To print a paper enrollment form, please click here. |