Payment Plan

 

Payment Plan Walk-through
Download this step by step guide to setting up a payment plan in the Banner Student Self Service portal.
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PaymentPlanPete

 

 

Effective Spring 2020

Students are automatically enrolled in a payment plan to better help manage their payments over the semester they are attending. With the launch of this new benefit, we will no longer charge the setup fee as we have in years past.

Going forward, if you have a balance due after the twentieth of the first month of school (see table below), your balance will be split into equal payments for the remainder of the semester and due on the tenth of the following 3 months. The automatic payment plan does not set up automatic payments; the student is responsible for making the payment monthly. Financial aid added to the account after the payment plan is set up will disburse evenly over the payments remaining and lower your monthly balance due.

Note: If you pay your balance in full before the 20 of the month, nothing is required of you and you will not be put into a plan.

Semester Deadline to Pay or Setup Payment Plan

Due Dates

(The automatic payment plan does not set up automatic payments; the student is responsible for making the payment monthly. )

Spring

January 20

February 10, March 10, and April 10

Summer

May 20

June 10, July 10, and August 10

Fall

September 20

October 10, November 10, and December 10

The payment plan will provide peace of mind knowing that you will not have to manually set up the payment plan and will save money since students no longer have to pay the setup fee nor do they get charged finance charges when on a payment plan and making payments on time. Late charges of 1.5 percent of the full remaining balance will be added to students who do not pay by the fifteenth of each month.

Payment plans will be accessible by students to set up themselves if they want the option to pay biweekly, split over four months vs the three months, or to set up automatic payments. Please visit your O-Key account to see your options. You only have availability to mange this yourself the first month of school so do not delay if you want to utilize this option.

The payment plan will show on your statement as a "Memo Item" and list out the future anticipated payments as credits. This will show your balance as zero anticipating your payment will be made on time, the balance due is the "Current Billed Balance". So, this means just because your "Total Amount Due" shows "$0", you may still have a balance coming due! There is an example below. 

Your anticipated future payments will show as "Installment" on the Description (as seen below). It is done in this manner to allow student to enroll for the next semester as long as they are current on their payment plan. In the past, students could not enroll unless the balance was less than two hundred dollars. If you have missed a payment or you have an outstanding balance due from a previous semester, it will show in your "Past Due" section.

This graphic is an example of an account statement and shows all charges for the student including any previously billed balances, all installment payments for the payment plan as credits, and a balance of zero due as they credits and debits bring the balance to $0.

 

Frequently Asked Questions

If you have any questions or need further assistance, please do not hesitate to contact our office via email at okm-bursar@okstate.edu

 

VERY IMPORTANT- The automatic payment plan does not set up automatic payments; the student is responsible for making the payment monthly.