We understand that many of you might have questions about your finances. I thought it would be helpful to share with you several of our most frequently asked financial questions:
Q: Is there a way to spread out my payments?
A: Yes. We offer convenient and easy payment options to pay your out-of-pocket tuition costs. Payment options and details can be viewed on our Web site by visiting bursar.iit.edu.
Q: How do I enroll in a payment plan, and is there a fee to enroll?
A: Students enrolling in one of IIT's payment plans must complete an online application. A small administrative fee is charged to enroll in the plan. More information and the application are also available on our Web site.
Q: What happens if I am not able to pay my tuition in full by the start of the term and I do not select an IIT payment plan?
A: If you are unable to pay your tuition in full and do not select one of our payment plan options by the end of the add/drop period, you will automatically be enrolled in our budget plan. Details regarding the budget plan can be found by going here.
Q: Will IIT charge me late fees or penalties if tuition payments are not received on time?
A: A 5-day grace period is given to students enrolled in one of IIT's payment plans. A $25.00 late payment penalty fee will be charged each month if a scheduled payment is not received by the 5th business day of the month. Students automatically enrolled in the budget plan will be charged interest of 1% of their outstanding balance on the last business day of each month.
We are here to help with any questions you might have. Don't hesitate to contact the Bursar's Office at email@example.com or 312.567.3785. We look forward to welcoming you on campus next week.