May 9, 2018 | Andrew Hurst
Southwestern Assemblies of God University (SAGU) is excited to announce a change in its deferred payment plan. With this change, all students are eligible for an extended payment plan of up to 6 months after the initial down payment. The previous deferred payment plan only allowed a 4-month payment schedule.
Chris Baca, Director of Student Billing, said, “We have many students and families who want to start paying early. In working with the Enrollment Office, we felt we could meet a financial need among our incoming and current students by increasing the options for deferring the balance owed to SAGU for any given semester.”
During this fall term, if incoming students were up to date on any current payment plan, or if they made their payments in full, they were eligible to sign up for a payment plan as early as June. If students signed up in June, they were able to make a down payment in June, followed by six equal monthly payments. If they signed up in July, they were able to make a down payment in July, followed by five equal monthly payments. The original payment plan is also still available.
“By allowing students to sign up for payment plans earlier, students and families can reduce their monthly financial obligation by up to 33%,” says Baca. “This should also help students and families with long-term financial planning.”
Changes to deferred payment policies also benefit students in other ways:
Waived Deferred Payment Plan Fee
If students decide to take advantage of the extended payment plan, SAGU will waive the $60 deferred payment plan fee. If students sign up in June or July, they will not be charged the fee normally charged for deferring their bill. The fee will still apply for students who sign up in August or September.
Balance Transfer Policy
Normally, students are not allowed to choose a new payment plan if they owe a balance on a previous payment plan. However, this will change in the future. SAGU will offer extended payment plans for the spring term, starting in December. To help with future payment plans, students who are caught up on a current payment plan will be allowed to sign up for a new payment plan, even if they are not completely paid in full.
Eddie Davis, Vice President for Enrollment, is excited that the extended payment plan will provide more flexibility for students and their families. “SAGU strives to make Christian Higher Education affordable and accessible to all students,” says Davis. “The addition of our extended payment plan will give more students and families the ability to pay for their education as they attend the university.”
Davis explains that the extended payment plan is not the only way SAGU works to keep SAGU affordable. “Combined with over $8.5 million dollars in SAGU scholarships and grants and almost $6 million in federal and state grants, the SAGU extended payment plan is another tool to help students achieve their goal of an accredited degree from a highly-ranked Christian university.”