CBU offers two installment payment plans. The 5-month payment plan has an enrollment deadline of December 15 and runs through April. The 4-month payment plan has an enrollment deadline of January 4 and runs through April. There is a $40 service fee per semester to participate in a payment plan. The first installment of the payment plan (down payment of 20% of the account balance) is due at the time of enrollment. Subsequent installments are due on the 1st of each month. The student must enroll in a payment plan even if someone else will be making the monthly payments on their behalf. You must have registered for classes before enrolling in a payment plan, and you must not have an outstanding balance from a previous term.
Interest is charged monthly on payment plan outstanding balances at a rate of 1% per month. A late fee of $20 per month will be assessed for each payment that is past due after the 15th of each month. Payments made with credit cards and debit cards will incur a fee of 2.85% per transaction.
Please note that if a payment is not made in full by the last day to settle, your account will automatically be enrolled in the 4-month payment plan, incurring the $40 service fee.
For additional information about payments and payment plans, click here.
If you have questions or you need further details about your options, please contact the CBU Business Office at (901) 321-3380.
Federal Loan funds are downloaded electronically and posted directly to the student's account. If the posting creates a credit balance on the student's account, the student may leave this amount in his/her account to assist with future balances or he/she may receive a refund of the amount.