Payment Plan Overview
Reed College offers interest-free payment plans as an alternative to a single upfront payment. The plans are administered by Flywire.
Payment Plan Details
- Available each semester
- Fall plans open May 1
- Spring plans open November 1
- $55 enrollment fee per semester (paid directly to Flywire; not applied to the student account)
- Up to 6 monthly installments, depending on enrollment date
- Payments are automatically deducted on the 15th of each month from the selected bank account
- If requested, the payment date may be moved to as late as the 20th on the month
- You can opt to to pay an installment early as a one-time payment
- Flexible 4-, 5-, or 6-month payment options
24/7 access to view and manage plans in Student Account Center
Payment Plan Schedule
| Payment Plan | Enroll on or Before | Total Installments | First Payment | Last Payment |
|---|---|---|---|---|
| Fall Semester | May 15 | 6 | May 15 | October 15 |
| Fall Semester | July 15 | 5 | July 15 | November 15 |
| Fall Semester | August 15 | 4 | August 15 | November 15 |
| Spring Semester | November 15 | 6 | November 15 | April 15 |
| Spring Semester | December 15 | 5 | December 15 | April 15 |
| Spring Semester | January 15 | 4 | January 15 | April 15 |
How to Enroll in a Payment Plan
To enroll in a payment plan, follow these steps:
- Log in to Student Account Center and select “Payment Plans.”
- Available plans will be displayed.
- Enroll early for the most installment options.
- Fall plans open May 1
- Spring plans open November 1
- Set Your Plan Amount
- The plan balance defaults to your “Balance Due” but you can overwrite this as needed.
- If enrolling before charges are posted, estimate your balance using published tuition and fees.
- You can adjust your plan after billing to reflect actual charges.
- Both the student and all the student’s authorized users will receive a confirmation email and future payment plan notifications.
Payment Plan Ownership
Students and/or authorized users can enroll in a payment plan. Students can add authorized users by completing a Billing Information & Release Form.
- The person who enrolls in the payment plan is the plan owner.
- Only the plan owner can update the payment method though anyone with access can make a payment towards the plan.
- The student and all authorized users receive email notifications regarding the plan.
Payment Schedule & Policies
To ensure your account remains in good standing, please review the following guidelines regarding automated payments and failed transactions.
Successful Payments & Notifications
- You will receive a reminder email 5 days before each scheduled installment.
- Payments are automatically processed on the 15th of each month.
- A confirmation email is sent immediately following every successful payment.
Failed Payments & Late Fees
If a scheduled payment fails (i.e. the ACH payment is returned due to insufficient funds), the following actions will occur:
- You will receive an email notification of the failure.
- The payer will be charged a penalty fee of $30.
- Flywire will reattempt to collect a failed installment payment 5 business days after the failed payment transaction is posted to the student account unless it is the last installment of the plan.
- If the reattempted collection also fails, the failed payment will be added to your next scheduled installment.
Plan Termination & Account Holds
The failure of two scheduled payments will result in:
- The payment plan being terminated.
- The total remaining balance will be due immediately.
- Holds will be placed on the student registration per college policy.