If you want to continue your education but are on a budget, then you might be looking for online colleges with low monthly payments. Fortunately, there are affordable online colleges with payment plans so that finances don’t have to hold you back.
Student aid is an option for many students, of course, but it’s not sufficient for everyone’s tuition needs.
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If you need extra help with school costs, you might consider whether low monthly payments can help you achieve your goals.
Online Colleges with Low Monthly Payments
Forking over an entire semester’s tuition costs at once can be a daunting prospect for many would-be students. Tuition plans provide a workaround for that issue by dividing your total costs into smaller monthly payments.
What Is a College Tuition Payment Plan?
A tuition installment plan allows students to pay their college costs over time. The total tuition bill is broken up into even monthly installments.
A tuition plan can be useful for students whose full costs aren’t covered by grants and scholarships. A payment plan could mean the difference between staying in school and dropping out because you’re short a few thousand dollars at the beginning of the semester.
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A payment plan can also be a financially savvy alternative to student loans since it won’t accrue interest. It would be necessary, though, to keep up with the monthly payments.
How Do Payment Plans for Tuition Work?
Perhaps you’re a few thousand dollars short of the tuition amount you owe for this semester. You simply won’t have enough in your bank account by the due date. Over the next several months, though, you’ll earn enough to cover the amount.
A tuition payment plan could be just what you need. There’s typically an enrollment fee for installment plans. It’s usually $100 or less, but rates vary. The fee may change depending on when you sign up in the semester. A down payment might be required as well.
Once you sign up, your outstanding balance will be divided into equal portions. Typically, it’s one portion for every month of the semester or the school year, depending on whether you’re paying for one term or the entire year. Each month, you’ll submit your payment by the due date to keep your account in good standing.
What Do Tuition Payment Plans Cover?
The coverage options will depend on your specific plan. Often, these plans are limited to tuition and fees. Some payment services will let you lump in other college expenses, too, such as textbook or equipment costs.
While this may not be an issue if you go to school online, many students do need to consider room and board. Dividing up your housing costs may require enrolling in a separate payment plan.
When to Start Checking into Payment Plans
It can be strategic to start thinking about payment plans early in the process of selecting a school. As you learn about the financial aid packages at each college you’re accepted to, you can also look into the payment plan options.
You may want to keep in mind, though, that payment plans are often most helpful for students who are within close reach of affording a particular college. If a school is well beyond your budget—even after factoring in student aid—a payment plan may not be enough to make up the difference.
Pros and Cons of College Tuition Payment Plans
While a college payment plan might help you afford some of the top online degrees, it’s not the right choice for everyone. It’s beneficial to consider both the advantages and disadvantages of college tuition payment plans before choosing to commit.
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Some schools offer several different payment plan options. That may allow you to select the plan that offers the most pros for your situation and the fewest cons.
Types of Tuition Payment Plans
Some colleges offer their own payment programs to help students afford school or spread out their payments. There are also third-party companies that provide such programs.
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You may discover that your college partners with a third-party company to administer its official school payment plans.
Offered through the Online School
If you’re concerned about the cost of college, the financial aid office might suggest that you take advantage of the school’s in-house tuition plan.
- Standard Plans: The basic concept behind a standard payment plan is that it keeps you from having to pay a hefty tuition bill right at the start of the semester. Instead, the payments are evenly spread out over the semester. An enrollment fee is usually required for this type of plan.
- Deferred Plans: At some colleges, “deferred plan” is synonymous with “payment plan.” Other schools run their deferred plans differently. They ask you to pay a significant down payment at the beginning of the semester, pay a second installment partway through, and turn in the remaining portion at the end of the semester. Enrollment fees are common, and there may be interest charged for late payments.
- Tuition Stabilization Plans: Rather than spreading out your payments, this system is designed to prevent price hikes from rocking your budget. You’ll need to be able to pay a significant chunk of money at once in order to take advantage of this system, though. It involves prepaying for 4 to 8 semesters in order to lock in the current tuition rate.
- Direct Bill Plans: Your employer may cover part of your tuition costs. With a direct bill plan, you can have the school’s billing department send the bill directly to the person or organization who will be paying it. The final payment may not be due until partway through the semester.
To learn more about a college’s payment plan options, you can contact the financial aid or business office.
Common Tuition Installment Plan Providers
Colleges and individual students often rely on the services of third-party installment plan providers.
Some payment services work with colleges to establish an official school payment plan. In that case, students may sign up for installment plans through the college’s payment portal. Other payment companies allow students to skip the school’s involvement and register with them directly.
- Higher One: Now known as TuitionPay from Diamond Mind, this platform allows schools to handle payment plans and other financial matters in-house. The service allows students or parents to set up payment plans online without having to involve the school’s financial aid office. Payment options include credit cards, electronic checks, and automatic withdrawals.
- Nelnet Business Solutions: Nelnet partners with colleges to help them manage student payment needs. This includes offering installment plans with options like automatic withdrawal, online monitoring, and strategies for catching up after a late payment.
- University Accounting Service: UAS helps schools set up tuition payment plans. The company prides itself in offering state-of-the-art online technology as well as outstanding customer service. Schools that partner with UAS can choose which service features they’d like to use.
- Tuition Management Systems: TMS partners with Nelnet Campus Commerce to offer payment plans directly to students and their families. Enrollees can also choose to combine a payment plan and a student loan into one monthly payment. An online payment portal simplifies the process of dealing with finances.
Even if your college doesn’t partner with a third-party service, you might be able to ask the financial aid department to recommend one.
How to Choose a College Payment Plan Program
If you have options for which payment plan to choose, you may want to consider various factors like the ones listed below:
- Convenience features. Some programs offer automatic bank withdrawals or recurring charges so you don’t have to worry about missing a payment. Others have online portals or mobile apps so that you can always have your account information at your fingertips.
- Credit card surcharge. You may have to pay an extra 2% or 3% each month if you want to pay with a debit or credit card. Some plans don’t accept credit card payments at all.
- Included costs. Plans typically cover tuition and fees. There are some, though, that will also provide coverage for housing, food, textbooks, or equipment.
- Late penalties. It’s common for plans to impose a late fee if you miss a payment deadline. Plus, you may not be able to enroll for the next semester until you get caught up on your bill.
- Setup fee. The cost to get started with a payment plan could be as low as $30 or as high as $100 or more. Some plans charge more if you wait until the last minute to sign up.
You may not need to spend much time debating which company to use, though. It’s common for colleges to partner with one specific payment company or offer in-house deferment programs.
What’s the Difference Between Student Loans vs. Monthly Payment Plans?
Both student loans and payment plans are options that could help make college more affordable for you. Each approaches online college tuition assistance in a different way, though.
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Loans and payment plans are not mutually exclusive. You may find that a mix of the two is the best fit for you.
How Much Does an Online College Cost?
College courses online often cost between $300 and $700 per credit. Some are more expensive, of course.
Graduate degrees often involve higher per-credit costs than undergraduate degrees. Your online college tuition will be the cost per credit hour multiplied by the number of credit hours that you take. There will probably be additional fees as well.
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State schools often provide discounted rates for residents, and military personnel sometimes receive special discounts as well. Additionally, exploring cheap online colleges can offer more affordable options. Grants, scholarships, and other forms of financial aid can also lower your overall costs.
When Do You Pay College Tuition?
Each school sets its own payment deadline for the semester. You’ll probably need to turn in your money before the term begins or within a few weeks of its start.
Not making your payment in time can jeopardize your future as a student. If you miss the deadline, you may be dropped from your classes. Falling behind on your account may also keep you from registering for the next term. Fortunately, payment plans often give you extra time to cover the cost of your online courses.
Online Colleges with Monthly Payment Plans
Methodology: The following school list is in alphabetical order. To be included, a college or university must be regionally accredited, offer degree programs online or in a hybrid format, and offer a monthly payment plan to students.
| University Name | Online Degrees Offered |
| Academy of Art University | Associate’s, Bachelor’s, Master’s, and Certificate |
| American College of Education | Bachelor’s, Master’s, Doctoral and Certificate |
| Arkansas State University | Bachelor’s, Master’s, Doctoral, Ed Specialist, and Certificate |
| Athens State University | Bachelor’s, Master’s, and Certificate |
| Bellevue College | Associate’s, Bachelor’s and Certificate |
| Boise State University | Bachelor’s, Master’s, Doctoral, and Certificate |
| California Southern University | Bachelor’s, Master’s, Doctoral and Certificate |
| California State University – Northridge | Bachelor’s, Master’s and Certificate |
| Central Michigan University | Bachelor’s, Master’s, Doctoral and Certificate |
| Chadron State College | Bachelor’s, Master’s and Certificate |
| Clarion University of Pennsylvania | Associate’s, Bachelor’s, Master’s and Certificate |
| Clayton State University | Bachelor’s, Master’s, and Certificate |
| Clemson University | Bachelor’s, Master’s, Doctoral and Certificate |
| Colorado Christian University | Associate’s, Bachelor’s, Master’s, Doctorate and Certificate |
| Colorado State University | Bachelor’s, Master’s and Certificate |
| Concordia University – Irvine | Bachelor’s, Master’s, Doctoral, and Certificate |
| Cornerstone University | Associate’s, Bachelor’s, Master’s, Doctoral, and Certificate |
| Dallas Baptist University | Associate’s, Bachelor’s, Master’s and Certificate |
| Delta State University | Master’s, Doctoral, and Education Specialist |
| Doane University | Bachelor’s, Master’s and Certificate |
| Eastern Florida State College | Associate’s, Bachelor’s and Certificate |
| Edinboro University | Master’s, Doctoral and Certificate |
| Endicott College | Associate’s, Bachelor’s, Master’s, and Certificate |
| Ferris State University | Bachelor’s, Master’s, and Certificate |
| Fisher College | Associate’s, Bachelor’s, Master’s and Certificate |
| Florida Institute of Technology | Associate’s, Bachelor’s, Master’s, Doctoral and Certificate |
| Florida State College at Jacksonville | Associate’s, Bachelor’s, and Certificate |
| Fitchburg State University | Bachelor’s, Master’s, Doctoral and Certificate |
| Fort Hays State University | Associate’s, Bachelor’s, Master’s, Ed Specialist, and Doctoral |
| Franklin University | Associate’s, Bachelor’s, Master’s, and Doctoral |
| Fresno Pacific University | Bachelor’s, Master’s and Certificate |
| Georgia Southern University | Bachelor’s, Master’s, Doctoral, and Certificate |
| Governors State University | Bachelor’s, Master’s, Doctoral and Certificate |
| Great Basin College | Associate’s, Bachelor’s and Certificate |
| Huntington University | Associate’s, Bachelor’s and Certificate |
| Jacksonville State University | Bachelor’s, Master’s, Doctoral, Ed Specialist, and Certificate |
| Kansas State University | Associate’s, Bachelor’s, Master’s, Doctoral, and Certificate |
| King University | Associate’s, Bachelor’s and Master’s |
| Lesley University | Bachelor’s, Master’s and Certificate |
| Liberty University | Associate’s, Bachelor’s, Master’s, Doctoral, and Certificate |
| Lindenwood University | Bachelor’s, Master’s, and Certificate |
| Medaille College | Associate’s, Bachelor’s, Master’s, Doctoral and Certificate |
| Marshall University | Bachelor’s, Master’s, Doctoral, and Certificate |
| Metropolitan State University | Bachelor’s, Master’s and Certificate |
| Middle Georgia State University | Associate’s, Bachelor’s, Master’s and Certificate |
| Minot State University | Bachelor’s, Master’s and Certificate |
| Missouri Valley College | Bachelor’s, Master’s and Certificate |
| Moody Bible Institute | Associate’s, Bachelor’s, Master’s and Certificate |
| National Louis University | Bachelor’s, Master’s, Doctoral and Certificate |
| National University | Bachelor’s, Master’s, Doctoral, and Certificate |
| Nicholls State University | Associate’s, Bachelor’s, Master’s and Certificate |
| North Carolina Central University | Bachelor’s, Master’s and Certificate |
| Northern Arizona University | Bachelor’s, Master’s, Doctoral and Certificate |
| Nova Southeastern University | Bachelor’s, Master’s, Doctoral, Ed Specialist, and Certificate |
| Oakland University | Bachelor’s, Master’s, Doctoral, and Certificate |
| Old Dominion University | Bachelor’s, Master’s, Doctoral and Certificate |
| Peninsula College | Associate’s, Bachelor’s and Certificate |
| Pennsylvania State University | Bachelor’s, Master’s, Doctoral and Certificate |
| Point Park University | Bachelor’s, Master’s, Doctoral and Certificate |
| Portland State University | Bachelor’s, Master’s, Doctoral, and Certificate |
| Post University | Associate’s, Bachelor’s, Master’s, Doctoral, and Certificate |
| Prescott College | Bachelor’s, Master’s, Doctoral, and Certificate |
| Sam Houston State University | Bachelor’s, Master’s, Doctoral, and Certificate |
| South Texas College | Associate’s, Bachelor’s, and Certificate |
| Southern Arkansas University | Bachelor’s, Master’s and Certificate |
| St. Petersburg College | Associate’s, Bachelor’s, and Certificate |
| Texas A&M University | Bachelor’s, Master’s and Doctoral |
| Thomas Edison State University | Associate’s, Bachelor’s, Master’s, Doctoral and Certificate |
| Trident University | Bachelor’s, Master’s and Doctoral |
| University at Buffalo | Bachelor’s, Master’s, Doctoral, and Certificate |
| University of Akron | Bachelor’s, Master’s and Certificate |
| University of Arkansas – Little Rock | Bachelor’s, Master’s, Doctoral, and Certificate |
| University of Illinois – Springfield | Bachelor’s, Master’s and Certificate |
| University of Kansas | Bachelor’s, Master’s, Doctoral and Certificate |
| University of Louisiana – Lafayette | Bachelor’s, Master’s, Doctoral, and Certificate |
| University of Louisville | Bachelor’s, Master’s and Certificate |
| University of Massachusetts – Boston | Associate’s, Bachelor’s, Master’s, Doctoral, Ed Specialist, and Certificate |
| University of Massachusetts – Lowell | Associate’s, Bachelor’s, Master’s, Doctoral, Ed Specialist, and Certificate |
| University of Michigan – Flint | Bachelor’s, Master’s, Doctoral and Certificate |
| University of Minnesota | Bachelor’s, Master’s, Doctoral and Certificate |
| University of Nevada – Las Vegas | Bachelor’s, Master’s and Doctoral |
| University of Nevada – Reno | Master’s, Doctoral, and Certificate |
| University of North Carolina – Greensboro | Bachelor’s, Master’s and Certificate |
| University of North Dakota | Bachelor’s, Master’s, Doctoral, and Certificate |
| University of Phoenix | Associate’s, Bachelor’s, Master’s, Doctoral, and Certificate |
| University of Southern Mississippi | Bachelor’s, Master’s, Doctoral and Certificate |
| University of Tennessee – Martin | Bachelor’s, Master’s, and Certificate |
| University of Texas – Permian Basin | Bachelor’s, Master’s, and Certificate |
| University of the Cumberlands | Bachelor’s, Master’s, Doctoral, Ed Specialist, and Certificate |
| University of West Florida | Master’s, Doctoral, and Education Specialist |
| University of Wisconsin – Milwaukee | Associate’s, Bachelor’s, Master’s, Doctoral and Certificate’s |
| University of Wyoming | Bachelor’s, Master’s, Doctoral, and Certificate |
| Utah State University | Bachelor’s, Master’s and Certificate |
| Virginia Commonwealth University | Bachelor’s, Master’s, Doctorate and Certificate |
| Walden University | Bachelor’s, Master’s, Doctoral and Certificate |
| Webster University | Bachelor’s, Master’s and Certificate |
| West Virginia University at Parkersburg | Associate’s, Bachelor’s and Certificate |
| Western Governors University | Bachelor’s, Master’s and Certificate |
| Western Michigan University | Bachelor’s, Master’s and Certificate |
| Wright State University | Bachelor’s, Master’s and Doctoral |
Getting Your Degree Online
College costs money, but there are affordable programs out there, including free college after 50 programs designed for older students. Determining how online classes work for you and then looking for low-cost online schools may be the first step on your educational journey toward a college degree.
The option for online classes may be another asset that helps make college a reality for you. With online study, you have the chance to earn a quality education in a format that meets your needs. Online college can be especially convenient for working adults.
You can start exploring accredited online schools with low tuition today. Once you find the affordable college that’s right for you, a monthly installment plan may help you make the payments.
