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Tuition payment plans are short-term (12 months or less) installment plans which split your college bills into equal monthly payments. Many such plans are essentially interest-free, but some have fees or finance charges. In most cases the fees are less than $100. Ask about the costs to you before using a tuition installment plan.

Tuition installment plans can be a reasonable alternative to education loans if you can afford to pay tuition, just not in a lump sum at the start of the semester. Most tuition installment plans allow you to set up an automatic direct debit from your bank account to pay the monthly bills.

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For information about prepaid tuition plans and college savings plans, see the Section 529 Plans section of FinAid. For more information about longer term education loans, see the Student Loans section of FinAid.

Information about tuition payment plans for private K-12 schools is available on the Private Schools web site.

FACTS Tuition Management
FACTS Tuition Management offers tuition management and budgeting services for educational institutions at all levels, from pre-school through post-graduate institutions.

Sallie Mae TuitionPay
Sallie Mae's TuitionPay lets you pay your tuition bill in small, monthly installments at more than 2,500 schools nationwide. The service is interest-free.

Tuition Management Systems
Tuition Management Systems provides tuition payment programs for more than 250,000 students and families annually at more than 1,000 schools, kindergarten through college. Their interest-free monthly payment option allows students and families to spread educational costs over a several months, without interest and without borrowing.