Purpose

Freedom College of Excellence (FCoE) recognizes that educational costs represent a significant investment. The Payment Plan Policy is designed to offer students and their families flexible, interest-free alternatives to paying tuition and fees in a single lump sum.

1. Eligibility and Enrollment

All students enrolled in credit-bearing certificate or degree programs are eligible to participate in the FCoE Tuition Payment Plan.

• Minimum Balance: A minimum balance of $1,000 in tuition and fees is required to initiate a plan.
• Enrollment Period: Students must enroll in a payment plan through the Student Portal prior to the term's census date.
• Enrollment Fee: A non-refundable fee of $50 per term is required to activate the plan.

2. Plan Structure

FCoE offers two primary installment options based on the length of the academic term:

3. Payment Responsibility

Participants are responsible for ensuring that payments are received by the Student Accounts Office by the due dates specified in their signed agreement.

• Automatic Payments: Students are encouraged to set up automatic ACH or credit card payments via the portal.
• Adjustment of Plan: Should a student add or drop courses, the remaining installments will be automatically recalculated to reflect the new balance.

4. Delinquency and Default

Failure to meet installment deadlines will result in the following actions:

• Late Fee: A $30 late fee will be assessed for any payment received more than 5 business days past the due date.
• Financial Hold: A hold will be placed on the student’s account, preventing registration for subsequent terms or the release of transcripts.
• Plan Termination: Defaulting on two consecutive payments may result in immediate termination of the plan, with the full remaining balance becoming due immediately.

5. Compliance

FCoE complies with the Truth in Lending Act (Regulation Z) by providing clear disclosure of all fees and terms associated with the payment plan. No interest is charged on the declining balance of the payment plan.