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Student Accounts Payment Options

Covenant College offers three options for payment of student account charges. For any payment option, accounts must be fully paid each semester before a student can register for a subsequent semester, view grades or receive a transcript.

 

Option #1: Payment in full. Fall balance due in full by 4:00 p.m. on 8/31/2021. Spring balance due in full by 4:00 p.m. on 1/31/22. No initial fee or monthly finance charges will be assessed. Additional charges posted during the semester will have to be paid by the end of the month following the charge in order to avoid a finance charge on the additional charges posted.

 

Option #2: Payment plan.  The account balance is paid in four equal payments. The fall deadline to enroll is 8/26/2021, and the spring deadline to enroll is 1/10/22. If you enroll in the fall you will be automatically enrolled in the spring. However, you must re-enroll in the plan during the next academic school year. If you do not enroll in the fall, you will be allowed to enroll in the spring so long as you do so by the deadline detailed above. There is a $45 annual fee charged to enroll in the plan. This fee covers both the fall and spring semesters. However, the full $45 must be paid even if you only enroll in the spring. Further details for enrolling in the payment plan are included in the initial fall and spring bills that are emailed to student accounts in early August and January.

 

Payment Plan Installment Dates:

Fall

  1. 25% of balance due 8/31/2021
  2. 25% of balance due 9/30/2021
  3. 25% of balance due 10/29/2021
  4. 25% of balance due 11/30/2021

Spring

  1. 25% of balance due 1/31/2022
  2. 25% of balance due 2/28/2022
  3. 25% of balance due 3/31/2022
  4. 25% of balance due 4/29/2022

 

Additional charges posted during the semester or changes in the amount of aid received after the first installment has been paid will impact the amount due with each future installment. Therefore, the amount due at each payment due date noted above is your current outstanding account balance divided by the number of installments remaining in the semester. There are a total of four installments due each semester in accordance with the due dates detailed above.

 

No finance charges will be applied as long as each installment during the semester is received by the due dates detailed above. However, if at any point during the semester a deadline is not met, the student's account will be removed from the payment plan and automatically enrolled in payment option #3 described below. The $45 enrollment fee will not be refunded and the student's unpaid balance will be subject to the finance charges described below. Furthermore, you will not be allowed to participate in the payment plan if you have a balance due from prior semesters.

 

Follow this link to sign up for the payment plan.  Log in with the student’s Covenant account to accept the agreement and sign up.

 

Option #3: Open account payments. This will be the default payment plan if Option #1 or Option #2 is not selected before the deadline for each semester. Payments may be made at any time, and in any amount. Monthly finance charges will be applied to any unpaid balance on the last business day of the month at the rate of 1.17% (14.04% APR). There is no initial fee for this option.