Tuition Installment plan
To help meet your educational expenses, Lake-Sumter State College is please to provide the Tuition Installment Plan (TIP) for all students requiring assistance with managing their Educational Expenses. Since the cost of higher education has increased in recent years, the TIP program will allow students to pay for tuition and fees over a period of time rather than one lump sum payment during the first few weeks of the registration process. Lake-Sumter State College has contracted with Nelnet Business Solutions to administer this program. This company will be responsible for the payment plan enrollment, as well as receiving the monthly payments.
In order to sign up for the Tuition Installment Plan, you must have a Checking, Savings, or a Credit Card Account. Nelnet will automatically deduct the monthly payments from the account information provided during enrollment. In addition, a one time non-refundable enrollment fee will be deducted from the account within 14 days after establishing the plan. To sign up for TIP, follow these easy steps:
- Sign into your LOIS account.
- Click on the “Financial Aid” tab.
- Click on the “Registration” link and “View Fees and Pay Online”
- Click on “TIPS E-Cashier.”
- It will display your account balance for the current term. At the bottom of this screen click on the E-Cashier logo. The next screen will start the application process for the payment plan and walk you through the necessary steps.
Be sure to have the following information:
- LOIS user name and PIN.
- The name, address, and e-mail of the person responsible for making the payment.
- If paying by automatic bank payments, you will need the bank name, telephone number, account number, and the bank routing number. Most of this information is located on your check.
- If payment by credit card or debit card, you will need the credit card number and expiration date.
This is not a loan program, so there is no credit check or interest charged and all registered students are eligible. After enrollment into the plan you will be given a payment schedule. All of your payments are automatic and will be charged to a credit card or debited to your bank account as follows. Payments are on the 20th of each month. If the 20th falls on a weekend or banking holiday, the payment will be on the following business day.
Along with the enrollment fee, a down payment amount will also be deducted from the bank or credit card account that was provided during enrollment. The down payment will be processed immediately upon establishing the plan. The down payment will be between 30 and 50 % of the tuition balance. If the down payment is not processed successfully as a result of Non-Sufficient Funds (NSF), the plan will be cancelled immediately and you will owe the full tuition balance to Lake-Sumter State College.
Tuition Installment Plan Payments
Tuition Installment Plan charges will be processed on the 20th of each month. You do not have to make any payments directly to Lake-Sumter State College or Nelnet. The payments will be deducted from the account automatically. If the payment is returned as a result of NSF, Nelnet will re-attempt to collect the payment on the 5th of the following month. If the payments continue to be rejected from the account, Nelnet will make 3 payment attempts. If the third payment attempt is not successful, the Tuition Installment Plan will be terminated. In addition, a $25 fee will be charged for each missed payment and all fees will be due payable directly to Lake-Sumter State College. Once your plan is terminated, if payment in full is not made to LSSC by the established payment deadlines, you may be dropped from all of your classes.
Once enrolled in the TIP program, adjustments will be made in the event courses are dropped or added. The adjustments will either increase or decrease the TIP balance and monthly payments. These adjustments will be made automatically. Therefore, no action required by the student. Changes must be made at least 5 days prior to the 20th of each month in order to adjust the amount deducted from your account automatically.
Financial Aid Students
For established TIP programs, adjustments will not be made to the plan. Nelnet will continue with monthly deductions per your payment schedule until your account is paid in full. Financial Aid awards will be refunded to students in the form of a debit card from HigherOne. If you have questions regarding your Financial Aid award, please call the Financial Aid office at (352) 365-3567.
TIP Payment Schedule