Tuition Management Systems (TMS) of Newport, Rhode Island, offers affordable monthly payment plans. With a monthly payment plan, families can spread out annual college fees over a period of 10 or 12 months. Parents arrange the payment plan directly with TMS. Parents determine the amount they want to budget, which can range from the full cost of education minus any financial aid to any lower amount.
There are no interest or finance charges on these monthly payment plans, although there is an annual $45 enrollment fee. Automatic life insurance on the primary payer, amounting to the outstanding contract balance, is provided at no extra charge. The TMS plan can be renewed each year and the amount can vary from year to year.
Payments for the ten month TMS plan begin July 15; payments for the twelve month plan begin May 15.
TMS may be reached at 800.722.4867 Monday-Friday, 8 a.m.-10 p.m. (Eastern Time) and Saturdays 9 a.m.-3 p.m. or online at http://www.afford.com/hampshire.
Financing Tip: If you are planning to borrow a loan, you should also consider a monthly payment plan to reduce the amount you need to borrow. For example, if you are planning to borrow $10,000 but can afford a $2,000 monthly payment plan ($200 per month for 10 months) you then just need to borrow $8,000 instead of borrowing the full $10,000. The reduced loan amount will reduce your future interest charges and your future monthly loan payments.
If you have any questions about how a budget plan can assist you in paying your bill, please contact our student accounts department at 413.559.6982.