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The University-administered Installment Payment Plan (IPP) offers a convenient method for planning and budgeting educational costs. The plan allows students to divide the cost of tuition, fees, and room and board into four installment payments throughout the semester. The IPP is only available in the fall and spring semesters; it is not available during the summer semester.

Note: The IPP is not available for past due balances; nor may students enroll in the IPP after the enrollment period has closed.

Can I make multiple partial payments on my balance without enrolling in the payment plan?

Students may make partial payments towards their account balances. However, students making partial payments who are not officially enrolled in the Installment Payment Plan (IPP) and who are not current with the IPP will be subject to late fees and registration/transcript holds if their balances are not paid in full by the specified billing payment due date.

To make a partial payment online through the billing site, the student or authorized user should select the "Make a Payment Option." The student should bubble the "current account balance" option and manually enter the amount they wish to pay in the box on the far right-hand side of this option. The student should then continue to follow the steps to complete the payment.

How do I know if I am eligible to set up an IPP?

All students attending the university with current charges of $100 or greater are eligible to participate for the fall and spring semesters; it is not available during the summer semester. All prior semester balances must be paid in full to be eligible.

Students who receive financial aid are also eligible for participation in the IPP. Students who are receiving financial aid may deduct their aid to determine the net total due. If it is $100 or greater, the remaining amount may be paid by installments. In some cases, a student may receive a financial aid refund, and then subsequent charges for the semester are added to the student’s account. If the student has received a refund, he or she is ineligible to participate in the IPP unless the refund has been repaid to the university in full. The student must then pay the initial payment and follow the instructions to enroll in the IPP.

How much does the IPP cost?

There is a $25 non-refundable fee that is paid once each semester with the initial installment payment. Interest is not assessed on the outstanding balance. Installment payments must be paid on or before the installment due dates to avoid late fees and/or registration/transcript holds. Students or authorized users should calculate the initial payment by dividing the student's semester balance into four. A payment of 1/4 the balance plus the $25 fee is required during the enrollment period (the initial payment should be paid FIRST through our payment website prior to completing the IPP application).

When can I sign up for the IPP?

Enrollment for the fall semester typically begins August 1st and enrollment for the spring semester typically begins December 20th. Enrollment is available during the first four weeks of classes in the fall and spring semesters only.

Cancellation: Once enrolled in the IPP for a semester, it cannot be cancelled. The $25 IPP fee is nonrefundable.

For information regarding the deadlines for the most current aid year, visit our website at https://sfs.vcu.edu/billing-and-payments/installment-plan/.

How do I sign up for the IPP?

To participate in the IPP, a payment of one-fourth of the balance due (to be paid FIRST through our payment website prior to completing the IPP application) plus the $25 application fee is required during the enrollment period. In addition, during the enrollment period, students or the authorized user must enroll in the IPP by completing the online “Installment Payment Plan Application” at https://sfs.vcu.edu/billing-and-payments/installment-plan/.

Both the initial payment (paid prior to completing the IPP application) and completion of the online application within the enrollment period are required in order for the student to participate in the IPP. Students and designated authorized users may remit credit card and web check payments online through the Billing and Payment Website. Personal and certified check payments and money orders may be mailed to the address on the eStatement. Cash, personal checks, certified checks, and money order payments may be remitted at the VCU Cashier’s Office (https://sfs.vcu.edu/billing-and-payments/). Students must make a personal payment within the enrollment period in order to participate.

VCU will generate eStatements for the remaining three installments. IPP participants may schedule automatic payments for the remaining installment payments through the billing and payment website using the “web check” payment option only. Payment for charges added to the student account after the account has been enrolled in the IPP becomes due immediately. These charges, which may include meal plans, housing assessments and financial aid adjustments, are not added to the IPP calculations.

Financial aid, third-party scholarships (including payments from 529 and trust accounts), and/or deposits will reduce the student’s overall balance. These payments are not considered as an installment payment. Students receiving additional funds can expect to have these funds applied in full to their account, thereby reducing subsequent installment payment amounts.

Students must re-enroll in the IPP each fall and spring semester. Re-enrollment is not automatic.

How will I know that I am on the IPP?

Once the initial payment (this should be completed FIRST through our payment website prior to completing the IPP application) and the online IPP application are completed, an email confirming enrollment will be sent to the student's VCU email address. The installment transactions will not be visible on the student's account until the IPP enrollment period has ended for the semester (fall/spring).

How can I cancel the IPP?

Once enrolled in the IPP for a semester, it cannot be cancelled. The $25 IPP fee is non-refundable. 

What do the PIPP and DIPP transactions mean on my account?

When an account is enrolled in the Installment Payment Plan (IPP), the balance is "paid" (this is the PIPP credit) and this balance is then divided into the four individual installment payment transactions (the four installment plan DIPP charges) that become due throughout the semester. The PIPP and DIPP transactions net to zero. The PIPP transaction is not a payment made by or on behalf of the student.

Will I be assessed a late fee if I am late making a payment on the IPP?

Students who do not remain current with the Installment Payment Plan (IPP) are subject to registration/transcript holds and a late fee. The hold may only be released once the student becomes current on the IPP. Students who do not maintain their required installment payments are not dropped from the IPP.

(Student Accounting > Installment Payment Plan) 

Last updated: 2021-04-08 10:45 AM 2058-1540037
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