Updated July 01, 2022
A school payment plan agreement is a written commitment used by any parent or student to make an arrangement to pay tuition over a specified time period. This agreement is directly between the school or financial institution and the parent or student for any public or private k-12 school, high school, college, or specialty (trade) school.
Payments are usually over the same period of the semester or school year spanning between 3 to 10 months. If there is a missed payment, usually the school will administer a warning that the student will not be able to attend classes if their balance is not up to date.