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Student Financials
Payment Options
SMU offers a variety of payment options and plans to assist its students while they are in college. These payment options include: cash, check, e-check*, money order, cashier's check, credit card (MasterCard, Discover and American Express), direct wiring of funds, or financial assistance. In addition to the above payment options, SMU also provides several payment plans to aid in college expenses that are administered by the Division of Enrollment Services. A list of institutional, state, and federal sources of financial assistance can be found on the following pages.
*Contact your financial institution to determine whether ACH transactions are allowed.
SMU Monthly Payment Plan
Objective
Pay term charges for tuition, fees, room, and board in five equal monthly installments with no interest charges. Families can arrange budget payments based on all of the term charges not paid by other applicable financial aid, or in part, as they prefer.
Eligibility
Families of all students; demonstration of financial need is not required.
Payments
Estimated charges for the term are divided into five equal monthly payments, which begin in June for fall term and in November for spring term. The SMU Monthly Payment Plan is available through Academic Management Services at 1-800-635-0120.
The Monthly Payment Plan is available on an annual basis for a full academic year's cost. This payment plan is subject to increases in tuition, fees, and, if applicable, room and board charges. There is a nonrefundable application fee of $100 each year an application is filed.
Four-Year Single Payment Plan
Objective
Avoid paying any tuition and fee increases by paying for four years in one lump sum at the rate in effect during the student's first year.
Eligibility
Families of any first-year, full-time student
Payments
Single payment, from family or other available resources, due before the fall term of the student's first year
For information on the Four-Year Single Payment Plan, contact SMU Enrollment Services at 214-768-4635.
Tax Exclusion
Gift Tax Exclusion
Under the Internal Revenue Code, Section 2503(e)(2)(A), a direct transfer of funds to an educational institution, such as SMU, to be applied to cover the present and/or future costs of tuition for a college or university student, does not count as a "gift" for federal gift tax purposes, including the $10,000 per year exclusion. Please contact your personal tax adviser for further information.
