Due Date Advancement for Loans in Active Repayment

Due Date Advancement for Loans in Active Repayment

If the regular monthly payment amount is paid while your account is in active repayment, your due date will be advanced by one (1) month.  If a partial payment is made, the current amount due will be reduced by the amount already paid. If you pay more than your regular monthly payment, your due date will be advanced based on the number of full monthly payments made unless requested otherwise (see below).

There is no penalty for paying more than the required monthly amount on your account – paying more may reduce your total cost of borrowing and save you money.  If you are not required to make a payment this month, you will not be considered past due if you do not make a payment or pay less than your regular monthly payment amount.  However, we encourage you to continue paying as much as you can even if your current amount due is $0 as interest may continue to accrue on your outstanding principal balance. 

You may instruct Tuition Options to not advance your due date more than one (1) month, as a one-time or recurring special payment instruction.  By selecting this option, your due date will only advance one (1) month, even though you have paid more than the current amount due.  If your account is paid ahead, selecting this option will keep your due date from advancing further.  You may contact Tuition Options if you want your regular monthly payment amount to be due the following month.  See Special Payment Instructions below for more information.

 

Paying More than Your Current Amount Due

When you pay more than your current amount due, your due date will advance by one (1) month each time you satisfy the regular monthly payment amount.

 

Special Payment Instructions

You may provide one-time special payment instructions when:

You are making a payment greater than the current amount due and do not want to advance your due date more than one (1) month. You may submit your request via mail or email.  

Mail: 

Mail one-time or recurring special instructions along with the payment attached to your monthly billing statement or coupon when mailing your payment

Tuition Options

P.O. Box 387

Marlton, NJ 08053

(Please include your account number on your check.)

 

Email: 

Email one-time or recurring special instructions along your first and last name and account # to specialpayment@tuitionoptions.com. Do NOT include any banking or credit card information via email.

© September 30, 2020 Tuition Options, LLC. All rights reserved