Payment Plans: Ease Your Financial Burden at Day 1 CPT Universities

As the summer draws to a close and the back-to-school season looms, there's an important question on everyone's mind: Is your wallet ready? If not, don't worry; we have prepared a "financial survival guide" for you. Let's first take a look at the Day 1 CPT schools that offer payment plans.

Schools Offering Payment Plans for Day 1 CPT Students

Let's take a closer look at the payment plans offered by some of the most popular Day 1 CPT schools. While schools like Westcliff University, New England College, Monroe College, Saint Peter's University, McDaniel College, Harrisburg University, and Sofia University provide the option to pay tuition fees monthly, others like Ottawa University, National Louis University, Humphreys University, and CIAM may not offer the same flexibility.

Detailed Payment Plan Information

Westcliff University

• Registration fee: $50 per installment plan per semester.
• Down payment: 40% of total tuition plus a $50 registration fee.
• Learn More: Payment Plan Details

Enrolling at Westcliff University opens doors to financial flexibility, allowing students to navigate their academic journey with ease. From customizable monthly payment plans to early scholarship opportunities, the university prioritizes student success by alleviating financial burdens. So, take charge of your finances, pave the way for your educational aspirations, and embark on a journey of knowledge with confidence!

New England College

• Non-refundable registration fee: $65 per payment plan agreement.
• Returned payment fee: Up to $30.
• Down payment: 25%-50% of total tuition.
• Learn More: Payment Plan Details

NEC offers students the flexibility of monthly payment plans, enhancing their financial freedom. It's important to highlight that NEC upholds rigorous enrollment standards for executive Day 1 CPT programs. Eligibility requires students to hold a US Master's degree or have at least three years of work experience in the US, ensuring that those accepted into the program are well-prepared to excel in their academic and professional endeavors. By maintaining these criteria, NEC upholds a standard of academic excellence, equipping students for the exciting challenges and opportunities that await them.

Monroe College

• Insufficient funds/credit penalty: $30.
• Automatic payment dates: 5th or 20th of each month.
• Registration fee: $30 added to first payment.
• Learn More: Payment Plan Details

Monroe College is conveniently located in northern New York City, just a short 40-minute train ride to the campus. Additionally, for students who already hold their first Master's degree in the US, Monroe offers discounts to alleviate financial burdens. Students have the flexibility to take a semester break after completing three consecutive semesters of studying.

Saint Peter's University

• Registration fee: $35.
• Learn More: Payment Plan Details

Saint Peter's University in Jersey City offers a convenient 20-minute Path train ride from NYC's Journal Square. The monthly payment plan includes on-site sessions per semester and allows Authorized Users to make payments on behalf of students.

McDaniel College

• Interest-free installment plans, with a $75 registration fee per semester.
• Spring 2025 semester payment deadline: January 15.
• Learn More: Payment Plan Details

McDaniel College provides students with the flexibility to divide their semester balance into five convenient monthly installments. Each semester offers the opportunity to create a new payment plan, with the fall semester plan running from July to November and the spring semester plan from December to April. While the payment plan is interest-free, a nominal enrollment fee of $75 per semester is required. Enrollment for the Payment Plan opens in June, ensuring students can plan ahead for their educational expenses.

Harrisburg University

• Registration fee: $50 per semester.
• Learn More: Payment Plan Details

Harrisburg University offers a monthly, interest-free payment plan that allows students or their parents to make four monthly installment payments during the semester. To utilize this service, there is an enrollment fee of $50 per semester. Students can enroll in the payment plan through the Finance page of MyHU.

Sofia University

• Registration fee: $35 per quarter.
• Learn More: Payment Plan Details

At Sofia University (SU), students can manage tuition and fees with a 3-month payment plan each quarter, avoiding interest charges. An administrative fee of $50 per quarter ensures a smooth process. Enrollment is required each term, is overseen by the Student Business Office. Payment installments are due at the start of each quarter, with online monitoring available.

Understanding Sponsor’s Affidavit of Support

Many students are unclear about the meaning and requirements of the Sponsor’s Affidavit of Support. Here, we will share examples from Westcliff University, CIAM, and Harrisburg University.

Information to Collect:

Student's Basic Information:

Includes date of birth, gender, place of birth, nationality, and passport information. Permanent address and contact details are also required.

Sponsor’s Basic Information:

This includes the name, relationship to the student, address, and the amount of sponsorship. Sponsors must provide a bank statement as proof of sufficient funds.

Document Requirements

• Bank Statement: A bank statement must be attached, and all documents must be in English or accompanied by an official English translation.
  • The statement must include the account holder's name, account number (especially the last four digits), and the current date, within 90 days of the I-20 issuance.
  • Funds must be liquid/accessible. Fixed deposits are usually not considered liquid unless explicitly stated otherwise.
• Exchange Rate Use: The current exchange rate at the time of I-20 issuance or the exchange rate listed on the bank statement, whichever is lower.
• Sponsor Requirements: If using sponsor funds, each sponsor must sign the Affidavit of Support. If using a company account, an official letter from the company authorizing the use of funds for the student’s education is required.
• Additional Requirements: If the student has accompanying dependents (spouse or children), additional funds must be shown. For example, CIAM requires $4,000 for a spouse and $3,000 for each child.