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Sallie Mae TuitionPay Payment Plan

Dear Roosevelt University Student,

Roosevelt University is pleased to announce an interest-free and convenient payment program for tuition, fees, housing and other charges.

Starting March 1 (the first day of fall registration), you can sign up for an innovative financing program called “TuitionPay” from Sallie Mae, a private company that assists students and parents with the financial process. TuitionPay will allow you to make up to 10 recurring payments during the academic year, 5 payments during the semester or 3 payments during the summer term without interest charges. Currently under the Roosevelt-administered payment plan, you can make a maximum of 4 payments per semester.

Students from other universities and colleges who have used TuitionPay find it to be a hassle-free alternative to lump sum tuition payments. Benefits to the plan include manageable monthly payments, lower overall education costs, having funds remain longer in interest-bearing accounts and up-to-date on-line statements.

The 10-payment plan is an exciting new option at Roosevelt. After you register for classes, RU will provide tuition information to Sallie Mae, which will use the details to assist you in estimating annual costs, less any financial aid. That way, you can make 10 monthly payments, starting in June.

When you enroll with Sallie Mae, you can choose to make recurring payments by credit card or ACH (electronic transfer from checking account). Sallie Mae enrollments fees are $65 for annual payments or $45 per semester, approximately the same as Roosevelt currently charges.

The course registration process will be similar to that of recent terms.

The only difference will be on the page where you select a method of payment (pay in full, payment plan, financial aid, ROOSTR). When you click on "payment plan," you will be linked immediately to Sallie Mae's website, which will have a special entry page and customized information for Roosevelt students.

In order to have the maximum number of payments available for any option,

you are encouraged to register early and work with Sallie Mae right away to choose a plan and commit to it. When it gets close to the start of a term,

fewer payments are available. For instance, if the payment due date has passed, you must wait for the next month’s due date to make your first payment.

If you have already enrolled for summer school 2009 and have selected

the RU-administered payment plan, you can stay in that program or enroll

in the Sallie Mae plan.

If you register for summer school after March 1, you will work with Sallie Mae

if you choose to enroll in a payment plan.

We believe you will find that TuitionPay delivers a comprehensive payment program at a reasonable cost. If you have questions or would like assistance enrolling in the plan, please call Sallie Mae at (800) 635-0120.

A tuition pay consultant will be happy to help.

Sincerely,

Miroslava Mejia Krug
Senior Vice President for Finance and Administration and Chief Financial Officer

Student Accounts