Hey Vols! My name is Patrick with One Stop Student Services. And in this video we are going
to be talking about payment plans. UT offers a deferred payment plan. And in this video,
we are going to discuss the deferred payment plan. And then I'm going to show you how to
enroll in the deferred payment plan on your MyUTK. So in this example, this just talks about how the
deferred payment plan works. If you enroll in a deferred payment plan, prior to payment due date
for the term that you're in, it will allow you to spread out your payment across three installments.
For example, under the Fall 2021 example, it will show you your tuition fees room and board,
it will take off any financial aid that applies to your account. And then your first installment will
be 50% of your remaining balance and that will be due on payment due date. And then 30 days later,
your second installment will be due at a quarter of your remaining balance. And then finally 30
days after that, your third installment will be due at the remaining quarter of your balance.
So the deferred payment plan is great if you need to have a little more time to spread out
your payments, if you're waiting on loans to come through scholarship checks. So that
is an option that UT offers for you. The Spring 2022 is a similar example. And you would need to
enroll in a deferred payment plan for each term that you want to use the deferred payment plan.
So let's look at Smokey's account. And we are going to show you how to enroll in a deferred
payment plan. You're going to log into your My UTK as usual, scroll down to your view pay fees
under your My Financial information. And then that's going to take you to your payment portal.
Your authorized users can also see this when they log in as an authorized user,
you're going to go up to payment plans, click the tab at the top that says payment plans.
And then you're going to see that you have the option to enroll now in a payment plan.
Click that it's going to have you choose the term that you're going to enroll in. So for Smokey,
we are just going to choose Summer 2022. That's the current term that we're in
and go ahead and hit Select. And that will move us forward to show us that there is a
$30 setup fee for enrolling in the plan. It is showing that there are three installments and
if you miss any of those installments, there's a $35 late fee. So then we'll continue and this
will break down your installments now. Smokey was a little tardy to the party, and he missed
payment due date. So at this point, he only will have two installments for his deferred payment
plan. Typically there will be three because you do need to enroll in the deferred payment plan
before payment due date. But this slide will show you the breakdown of costs of each installment.
And then you can also set up automatic payments if you have a payment method and don't want to think
about it. But if you want to come back each time and installment is due, you can click No I don't
want to enroll in automatic payments. So then this will show you the terms and conditions of
the payment plan. There is no interest charged on this. The $30 enrollment fee is charged upfront
on your first payment. But you'll just agree to the terms and conditions here and hit continue.
And then that will show you your enrolled payment plan. You'll see that orange bar
across the top it says you have successfully enrolled in Summer 22 deferred payment plan.
This landing page you can come back to to view the history of your payment plans. You can also
view your upcoming installments. You can see when they're due and how much is due. And then
if we click that little action button, by your installments, it's going to give you
the option to pay that installment or to pre-schedule payment for that installment.
And then you would hit pay next installment if that is what you're needing to do. And then you
would choose your payment option whether you're gonna pay with credit card or electronic checking
account, hit continue and that will process your installment payment. As always, if you have any
questions about the deferred payment plan or any questions about making payments in general, you
can always give us a call at 865-974-1111 Email us at one stop@utk.edu Or if you want to research
more information, you can visit the website at onestop.utk.edu Thanks for watching and Go Vols!