Financial Aid

PAYMENT PLANS

There are three options for payment. They are:

Full Pay
Full Pay by Credit – allowed if Financial Aid or prior payments result in a zero balance.
Monthly Installment Plan – payments will be automatically drafted from a checking account or credit card account that you enter on the system. We strongly recommend that students complete Financial Check-In early each semester to take full advantage of all months of payment plan options.

Since all students are required to complete Financial Check-In each semester by the deadline, we encourage you to log into ASIST and check in at: http://www.liberty.edu/index.cfm?PID=13627

INSTALLMENT ADJUSTMENTS

Students should check the Financial Check-In section of ASIST monthly to watch for any needed adjustment to keep payments on track with the balance. Adjustments are needed whenever changes occur with your financial aid or on your Student Account. The account will not be automatically adjusted, the system will always draft the last confirmed amount in accordance with the contract. It is the student’s responsibility to confirm amounts (and updated amounts) through Financial Check-in. Balance or installment plan changes are caused by new loans, other changed financial aid or new miscellaneous charges posted to the student’s account.

CHANGING DRAFT ACCOUNT INFORMATION

The student can change the account information up to five days prior to the draft by going back through Financial Check-In, selecting Check-In Contract and enter new account information. Updated information must be made 5 days prior to the draft date. The student can call our office with updates 5 days prior to draft date. A fee of $25 is charged to have your information updated manually.

PAYMENT RETURNS OR DECLINES

It is the responsibility of student and/or the person financially responsible for the student’s account to make sure that all bank or credit card account information is up to date and that the account has sufficient funds at the time of the withdrawal and is a draftable account without daily limitations. If an account becomes overdue, the student will be contacted by LU email to which he/she must respond.

Some consequences of non-payment, and payment returns or declines

Services and eating privileges shut off
Potential drop of classes (Note: The student is still required to officially withdraw)
Return/Decline fee (Non-negotiable)
Legal & Credit Implications
Prevents students from entering into any future payment plan with two returned drafts.
100% of balance will be required to be paid up front next semester.
Prevents student from making future online payments with two returned drafts.
Cash, Cashiers Check, Money Order, or Credit Card must be paid to Student Accounts Cashier.