Penn Payment Plan
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Enrollment will open for the Spring 2023 Penn Payment Plan within Penn.Pay. on October 21, 2022
SRFS is offering a five-month payment plan and a four-month payment plan for the spring 2023 term.
- The enrollment deadline for the five-month plan is December 14, 2022 and the first payment date is December 15, 2022.
- The enrollment deadline for the four-month plan is January 3, 2023 and the first payment date is January 15, 2023.
- We are unable to accept payment plan enrollments after these deadlines
SRFS encourages students to sign up early with an estimated budget of what they will owe so they do not miss the deadline for their preferred plan. As long as the student registers for a plan by the posted deadlines, they are able to adjust their budget during the semester if charges are added or removed on the student's account.
The payment plans do not automatically adjust if charges are added or removed to the student's account. Students and authorized users are responsible for checking the student's account and adjusting the payment plan as needed. Additionally, the plans do not cancel automatically if charges for the term have been paid completely or the student has received financial aid. Please contact budgetpl@pobox.upenn.edu if you need assistance adjusting or cancelling your payment plan balance.
Penn Payment Plan Overview
The Penn Payment Plan is a voluntary, interest-free installment plan designed for families who prefer to spread all, or a portion of, their educational expenses across four or five payments each semester. Enrollment in a payment plan requires a $45 nonrefundable enrollment fee per plan.
Plans are available for the fall and spring semesters, and students must re-enroll each semester, even if they previously participated in the plan. If a family member intends to set up a payment plan a student's behalf, the student must add them as an Authorized User in Penn.Pay.
Students can enroll (during the enrollment period), or review the status of their current payment plan, and make adjustments to their current payment plan on Penn.Pay.
Five-Payment Plan Dates
| Fall Semester | Spring Semester |
|---|---|
| July 15 | December 15 |
| August 15 | January 15 |
| September 15 | February 15 |
| October 15 | March 15 |
| November 15 | April 15 |
Spring Four-Payment Plan Dates
-
January 15
-
February 15
-
March 15
-
April 15
These due dates are associated with ALL payments and cannot be changed, regardless of payment method.
You will be charged a $45 enrollment fee when you sign up each semester. Our vendor also assesses a 2.85% convenience fee on credit card payments.
Within Penn.Pay, click on the “Payment Plans” tab and select “Enroll in Payment Plan.” You will be prompted to confirm the plan details and the amount you wish to budget. After you input your payment method, you can review your Payment Plan Agreement and finalize your plan.
A plan can be initiated by either the student or by an Authorized User. Authorized Users can make payments on a plan that their student has set up, but a student cannot make a payment on a plan set up by an Authorized User. Banking information is confidential and only the user will be able to see and access this information. Multiple Authorized Users can enroll in the same student's payment plan.
Students and their Authorized Users can make changes to their payment plan within Penn.Pay. You will be responsible for any balance due on your student account after your Payment Plan has been modified or canceled.
Students and Authorized Users cannot cancel their payment plan. Please contact budgetpl@pobox.upenn.edu to request for your payment plan to be canceled.
Yes. When you enroll, you will be required to enter either a checking/savings account or credit card number that will be used to automatically withdraw funds on your installment due dates. The payment method you choose will be used for the all scheduled payments.
If you would like to switch from one checking/savings account to another or switch from a credit card payment to a checking/savings account, you can add a new payment method within Penn.Pay. You can do this under the “Payment Profile” tab. After that, you can select the new payment method under the “Payment Plans” tab.
You are not able to switch from one credit card to another credit card or from a checking/savings account to a credit card.
529 Plan payments should include a note that the funds are being used to pay off your Payment Plan. These payments must be received 5-7 business days prior to the due date to allow processing/posting to the Payment Plan.
Payments via 529 Plan should be sent to:
University of Pennsylvania
Student Accounts/Penn Payment Plan
Room 221 Franklin Building
3451 Walnut Street
Philadelphia, PA 19104-6270
International families are welcome to participate. Penn partners with Flywire (formerly peerTransfer) to streamline the bill payment process for our international students. With Flywire, you are offered excellent foreign exchange rates, allowing you to pay in your home currency (in most cases) and save a significant amount of money compared to traditional banks. You are also able to track where your payment is in the transfer process via a student dashboard and an email confirmation will be sent to you when your payment is received.
If you are using Flywire for your payment method, be sure to include your name, PennID, and a note that the funds are being used to pay off your Payment Plan. Payment must be received 5-7 business days prior to the due date to allow processing and posting to the Payment Plan.
Any international student interested in signing up for the payment plan who will be using our third-party vendors to make payments should email budgetpl@pobox.upenn.edu with the following information: Name, Penn ID, total budget for plan, and if you want to enroll in the 5- or 4-month plan. If you have enrolled in the payment plan on your own without SRFS assistance and you are planning to use our third party vendor to make international payments, please email budgetpl@pobox.upenn.edu to cancel your scheduled payments in the plan as this will create a double payment.
If an international student is using a credit card or U.S. banking to make their payments, they do not need to contact us. You will sign up through Penn.Pay.
