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Payment Plan FAQ's

What are the advantages of using the W&M Tuition Payment Plan?

An easy, convenient and more affordable way to pay your student’s tuition, room and board (top)

What is the cost to use the plan?

There is a $50.00 enrollment fee per semester that is charged to the student account at the time of enrollment (top)

Can I use the plan if I also have financial aid?

Yes, the payment plan is calculated on the balance owed after all other payments and/or financial aid credits are deducted from the eStatement total (top)

What if I have a 529 plan from a state other than Virginia and the benefit amount is not showing on my student account for payment plan calculation?

If your 529 plan benefit amount  is not received by the College prior to your first monthly payment due date, the monthly payment amount may be larger initially.  Your payment plan will adjust automatically for the future installment amounts once we receive the 529  benefit and apply the payment to your student account.(top)

Can I use the plan during the summer terms?

No, the TPP is only available during the Fall or Spring semester.  The Summer terms are short in length which does not allow sufficient time for installment payments. (top)

How many installment payments are there for each semester and when are they due?
  • The total plan amount is split equally in 4 payments due on the 1st of each month. Additional payments may be made at any time (weekly, bi-monthly, etc.) during the semester and will automatically adjust your installment amounts for the remaining installment payments. 
  • Fall semester payments are due August 1st through November 1st
  • Spring semester payments are due January 1st through April 1st (top)
When do I enroll in the payment plan?
  • The Fall semester plan will be available on the first eStatement date in mid-July
  • The Spring semester plan will be available on the first eStatement date in mid-December (top)
Can I enroll earlier than the published dates?

No, the payment plan offered through Touchnet requires that the student’s charges appear on their account for the proper payment plan calculation.  Tuition, room and board charges are expected to be available for W&M students mid-July for the Fall term and mid-December for the Spring term (top)

Can I make a payment on my account prior to the payment plan enrollment date?

Yes, payments may be made to your student account using any of our payment methods.  Any payment to your account prior to your eStatement date or enrollment in your plan will reduce the amount owed for the semester.  (top)

How do additional charges or payments on my student account affect my monthly payment installment amounts?

The payment plan recalculates based on any changes to the student’s account.  Any charges or payments made to your W&M student account will automatically adjust your remaining payment plan installments.  Monthly installment amounts will NOT adjust 7 days or less prior to a payment due date for new charges to your account. Your new payment amount will take effect on the following month's payment. Email notifications will be sent to the student and authorized user with the new installment payment amount and the effective date of the new payment.  (top)

How far in advance of the payment date will the email notification be sent with the new installment amount?

The payment plan installment amount will recalculate each day as changes occur to the student's account.  An email notification is sent the next morning with the new payment amount and the effective date.  You will also receive a reminder email that your monthly installment is due 3 days prior to the installment due date.   (top)

How do I enroll in the monthly payment plan?
  • Students may enroll in eServices via the Banner/myWM portal using the ‘Payment Plan’ option on the selection bar at the top of the screen
  • Parents must be set up as an authorized user by their student in eServices to access the monthly payment plan
  • Authorized users will receive an email with procedures for entering eServices and may enroll in the plan once the student has provided user access (top)
My parents want to split the cost of my student account eBill statement, can they each set up a payment plan?

No, the payment plan software provided by Touchnet only allows one plan per student.  The student may set up the payment plan and each parent may make payments through eServices (they must be an authorized user in eServices) or mail a check to the W&M Student Accounts Office.  As an alternate solution, perhaps one of your parents could use the payment plan to pay the entire Fall semester eBill and the other parents could use the payment plan to pay your Spring semester eBill.  (top) 

During the enrollment process, I am getting an error message when I try to save my payment method that this information already exists.  What does this mean?

This indicates that you had previously saved your banking information in eServices during a previous payment session.  Rather than enter this information again, you may select your saved payment method from the drop down menu of payment options. (top)