Saint Mary's College is offering an interest free method of paying your daughter's tuition and fees in installments. The ACH Plan lets you make the payments automatically in 10 equal monthly installments. The ACH Plan takes maximum advantage of the newest banking technology.
Simply print out and complete the application (Click here) and mail it to Saint Mary's College, Office of Student Accounts along with a non-refundable $20 application fee and a voided check from your checking account. Upon receipt, Saint Mary's College will automatically establish your account and the installment payments will be charged to this account each month beginning on July 15. Please note that the student's social security number will be the Payment Plan account number.
A confirmation of enrollment will be sent to you after receipt of your enrollment application.
Refunds of monies paid, except for the non-refundable enrollment fee, will be handled according to the Saint Mary's College refund policy.
No interest will be charged on accounts that continue to be current under this plan. There IS a $25 charge if the ACH payment is returned due to insufficient funds in your account.
Payments will be deducted from your checking account through an Automated Clearing House (ACH) debit. To participate, please sign the agreement at the bottom of the application and return it with a voided check from the checking account you would like monthly payments withdrawn from. Your application fee and back payments cannot be paid under this option.
Payments will be withdrawn from your checking account on the 15th day of each month (unless this day falls on a weekend or bank holiday in which case the withdrawal will be the next banking day) and will be paid to the College's account at 1st Source Bank. A record of each charge will appear on your regular bank statement and serve as your receipt. If you are using a Money Market account, you must speak with the person at your bank that handles the account to be sure you can use ACH.
This authorization remains in effect until the Payment Plan ends or is canceled by the parent in writing at least five business days before the next withdrawal date. Any remaining balance on the student account will be immediately due and payable.
Monthly payments returned by the bank for insufficient funds will be charged $25 on the next direct debit. Withdrawals refused twice will result in cancellation of the ACH Plan and the balance due on the student account will be immediately due and payable.
NOTE: Interest - If your account is canceled, interest will be charged at the rate of 12% per annum on the unpaid balance of the student's account for the current semester.
