Payment Options

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SMU offers a variety of payment options and plans to assist its students while they are in college. These payment options include: cash, check, eCheck*, money order, cashier’s check, electronic credit card (American Express, Discover and MasterCard), direct wiring of funds and financial assistance. In addition to the above payment options, SMU also provides several payment plans to aid in college expenses that are administered by the Division of Enrollment Services. A list of institutional, state and federal sources of financial assistance can be found on the following pages: Loans , Guidelines for Need-Based Assistance , Grants , and SMU Satisfactory Progress Policy .

*Contact your financial institution to determine whether ACH transactions are allowed.

SMU MONTHLY PAYMENT PLANS

Objective: Pay term charges for tuition, fees, room and board in monthly installments with no interest charges.

Payment Plan Options: The SMU TuitionPay monthly payment plans are available on an annual or term basis.

Annual Payment Plans include:

12-Month Payment Plan: The 12-Month Payment Plan (6 installments per term) runs July 1 through December 1 for fall and January 1 through June 1 for spring, with a $100 annual nonrefundable enrollment fee and an enrollment deadline of August 10.
10-Month Payment Plan: The 10-Month Payment Plan (5 installments per term) runs August 1 through December 1 for fall and January 1 through May 1 for spring, with a $130 annual nonrefundable enrollment fee and an enrollment deadline of August 10.
8-Month Payment Plan: The 8-Month Payment Plan (4 installments per term) runs August 15 through November 15 for fall and January 15 through April 15 for spring, with a $150 annual nonrefundable enrollment fee and an enrollment deadline of September 30. (Please note that if you enroll after the SMU payment due date you may be assessed a late payment fee and a hold will be placed on your student account.)

Term Payment Plans include:

6-Month Payment Plan: The 6-Month Payment Plan runs July 1 through December 1 for fall and January 1 through June 1 for spring, with a $50 per term nonrefundable enrollment fee and an enrollment deadline of August 10 for fall and January 10 for spring.
5-Month Payment Plan: The 5-Month Payment Plan runs August 1 through December 1 for fall and January 1 through May 1 for spring, with a $65 per term nonrefundable enrollment fee and an enrollment deadline of August 10 for fall and January 1 for spring.
4-Month Payment Plan: The 4-Month Payment Plan runs August 15 through November 15 for fall and January 15 through April 15 for spring, with a $75 per term nonrefundable enrollment fee and an enrollment deadline of September 30 for fall and January 31 for spring. (Please note that if you enroll after the SMU payment due date, you may be assessed with a late payment fee and a hold will be placed on your student account.)
Summer Tuition Payment Plan: The Summer Payment Plan (not available for January, May or August term) consists of three installments: May 15, June 15 and July 15, with a $75 nonrefundable enrollment fee and an enrollment deadline of June 10. (Please note that this plan may overlap with the fall and spring plans, so please plan accordingly should you decide to enroll.)

Enrollment

The SMU Monthly Payment Plans are available through Higher One for fall, spring and summer terms (not available for January, May or August terms). Enrollment must be completed online at tuitionpaymentplan.com/smu.

If you enroll in one of the payment plans after the installment cycle has begun, all past installment payments must be made at the time of enrollment. Other fees may apply. Please be sure to review all applicable fees associated with the payment plans. To speak to a Higher One representative by phone, call 1-877-279-6092.

All monthly payments made to your payment plan must be made directly to Higher One at tuitionpaymentplan.com/smu (select “Manage Your Payment Plan”) or call Higher One at 1-877-279-6092.

Additional Information

Please consider one of these payment plans or make full payment directly to SMU by the payment due date in order to avoid a late payment fee. Charges in excess of financial aid should be resolved by paying in full or by enrolling in a plan by the due date. Please be aware that you will be charged a late payment fee of $50 on balances that are between $250 and $999.99, $150 on balances between $1,000 and $5,000, and 3 percent on balances above $5,000 (up to a maximum of $750 per term). More financial information can be found on the Bursar’s website at smu.edu/bursar. You can meet with a Student Account Adviser in the Blanton Student Services Building or call 214-768-3417 for assistance.

SMU PREPAYMENT PLAN (ONE SINGLE PAYMENT UP FRONT FOR ALL TERMS)

SMU allows a matriculated undergraduate full-time (12–18 credit hours) student to prepay a minimum of two years and up to five years of tuition and general student fees at the current year rate. It covers fall and spring terms only.

The prepayment amount is due on the payment due date for the fall term; or, if the current fall term has already been paid in full by the payment due date, the remaining terms must be fully paid by the last day of October of the current academic year.

Scholarships and grants may not be used to reduce the prepayment amount.

If the student withdraws or is dismissed from SMU, the unused credit in the prepayment account will be refunded to the signatory on the Enrollment form, after the student’s account has been paid in full.

For information on the SMU Prepayment Plan, please inquire by emailing Eartha Walls at ewalls@smu.edu.

TAX EXCLUSION

Gift Tax Exclusion

Under the Internal Revenue Code, Section 2503(e)(2)(A), a direct transfer of funds to an educational institution such as SMU to be applied to cover the present and/or future costs of tuition for a college or university student does not count as a “gift” for federal gift tax purposes, including the $14,000 per year exclusion. Please contact your personal tax adviser for more information.