Payment Plans

  • Student Accounts
  • Billing and Payments
  • Payment Plans

St. Olaf College offers two payment options.

Payment Plan Instructions for Students →

Video of student financials and payment options →

PAYMENT PLAN INSTRUCTIONS FOR PARENTS →

payment instructions for parents →

 

Semester Plan

Payment in full is due on or before the start of the term on the specified due date below. Students will be on the semester plan if they do not enroll in the payment plan.
Fall charges are due and payable on August 1, 2022 and spring charges on February 1, 2023.  If payments are late, a finance charge of 0.5% per month will be assessed on the unpaid balance.

Monthly Payment Plan

St. Olaf has partnered with Flywire to provide payment plan options by the semester. Flywire is more user friendly and makes enrolling in the plan easy. Flywire provides a secure way for families to identify how they want to spread their payments over the course of a semester.  To enroll in the plan log into SIS or the Parent Portal.

Payment Plan Eligibility
  • All students who owe more than $300 per term qualify.
  • Authorized Users can enroll in a payment plan on behalf of their student.
  • Students and Authorized Users must be willing to allow automatic withdrawals from a personal U.S. checking account or scheduled charges to debit or credit card.
  • The student account must be in good standing. If the student has past due balances, he or she must contact the Student Accounts Manager to find out about alternative payment arrangements.
Payment Plan Ownership

Students or one of the student’s Authorized Users can enroll in a Payment Plan in SIS or the Parent Portal. If the student enrolls, the student is owner of the plan; if an Authorized User enrolls, that individual is the owner of the plan.  This is important because only the owner of the plan can change the payment method.  Both the student and ALL of the student’s Authorized Users will receive Payment Plan notifications by email.

Notification and Processing Timeline

Students and all of their Authorized Users receive all payment plan notifications generated from the Payment Plan. Student notifications go to them at their St. Olaf email address.

Autopay Reminder-5 days before
Reminder email letting you know your autopayment will be processed on the 5th. Make sure you have enough funds available in your bank account or credit card to cover the upcoming payment.

Installment is Processed-5th of the Month 
Monthly automatic installment is processed by autopay from your checking account or debit or credit card. You will be notified by email when the payment has been processed.

Cost to Participate

There is a $52 non-refundable sign-up fee for the Fall and Spring plans. The sign-up fee is deducted from your bank account or charged to your debit or credit card as soon as you complete the enrollment process in SIS.

Payment Plans and Financial Aid

Scholarships, grants, and loans from all sources will apply to your student account and reduce the balance due. Anticipated Aid also reduces the student account balance temporarily, until the aid is actually disbursed to apply to the student account. That means that financial aid is always taken into account when calculating the amount of the payment plan installments. Your charges less your Anticipated Aid and any aid that has already been disbursed and applied to your student account will equal the overall student account balance that is used to calculate payment plan installments.  Make sure that you review your billing statement to make sure that only the financial aid that you are getting is listed.  If you find something missing please reach out to the Financial Aid Office.

Enrollment Process Overview

To enroll in a payment plan, log into SIS and go to Financials.  Under the billing statements there will be a link to enroll in the payment plan. You will see the payment plan options available to you. The earlier you enroll in a plan, the more installments you can have, so be sure to note the expiration date on each offer. Your installment schedule will update dynamically as you enter your balance under Balance For Plan. Once you decide to activate a plan, you will receive an email from St. Olaf confirming your enrollment. Login to SIS any time to see the status of your plan.

Payments Overview

Paying with eCheck, Credit or Debit Card

You can select “eCheck” as your payment method to avoid paying the non-refundable 2.85% service charge associated with each transaction paid by debit or credit card. If you choose to make your monthly installments by credit or debit card, you will be charged a non-refundable 2.85% convenience fee for each transaction.

Changing your Payment Method

Only the Payment Plan owner has the ability to change the payment method. To do so, the owner should:

  1. Log into SIS or Parent Portal using the the login buttons at the top of the page.
  2. Select the Payment Plan link beside the billing statement
  3. Click on the Manage autopay button, then change or update the payment method for upcoming installments
  4. Any changes or updates to the Payment Method must be completed no later than one calendar day before the date of the scheduled automatic installment.

For example, if a payment is scheduled for October 5 and the Payment Plan owner would like to change the bank account the automatic installment payment will be drawn from, he or she must do so by midnight, Eastern Time, on October 4. Otherwise, the installment payment will be drawn from the old bank account instead of the new one.

Failed Payments

You will receive multiple notifications before any installment is processed to give you an opportunity to make sure sufficient funds are available to process each upcoming installment. Once your payment plan is active, if an installment fails for any reason, the Payment Plan will be automatically terminated. This might occur if a credit card transaction is declined, an eCheck is returned for insufficient funds, or your bank account is closed. You will also be charged a $30 non-refundable fee for each failed payment plan installment. If you wish to enroll in a new plan after this occurs, you may be charged another non-refundable sign-up fee.

Multiple Payment Plans

Students can have multiple payment plans for one semester.  For example, if the student has multiple Authorized Users they can each have a plan.  Please be aware that all notifications will go to the student and all authorized guests.