How to pay university fees in USA| North Loop Official Blog
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North Loop
20 Jan 2020

How to pay university fees in USA

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Congratulations! You’ve gotten into your dream college, and are getting ready to attend! But before you go, there’s the slight matter of paying your fees, which can include living costs, health insurance and more. University fees aren’t a small amount, and the majority of universities in the US don’t accept debit or credit cards (find out why here here). So, how do you pay?
Note - due to the high cost of attending universities, you should check if you’re eligible for a loan.

Types of Payment Options

Universities offer a variety of options for you to pay.
ACH/Online Transfer - this is the preferred way for most institutions to accept payment. Log in to your official student account online, and you’ll be able to find a payment option. It will list exactly how much you owe, and you will be able to click on ‘Pay Online’ (or a variant of such an option). You will then be asked to provide your bank account number and bank routing number. The university will then do an ACH pull (read more about ACH here). You will see that amount debited from your bank account.
This method of payment is free, and the fastest option as funds usually reflect in the university’s account within 2 days.
Check - the most traditional way of paying for fees is to mail a check.
What about cash and debit or credit cards?
Most universities in the US don’t accept these payment methods. Some universities may let you pay with a debit or credit card, but will charge you a transaction fee (sometimes going up to 3.5%).
Payment Plans
One popular option to pay fees is through payment plans. Due to the high cost of education, universities offer an interest-free installment plan that lets you pay in 3-4 installments throughout the semester rather in one upfront payment. There is a charge for this (usually $50) but it is a great option for those who don’t want to pay for everything in one payment. Note - you cannot use payment plans with international wire transfers so they must be done through a US bank account (but can use your North Loop account to pay for these plans).

Enjoy unlimited no fee ATM withdrawals with a student account

Paying from Abroad

If you’re paying from overseas, many of these options aren’t available to you. So how does someone who is abroad pay US universities? There are several options:
Use Flywire/Western Union - A common option is to use Flywire or Western Union to transfer your funds to the university. These companies have partnered with many universities to help you send funds. Usually, they are more expensive as they make their money on foreign-exchange markups (read our comparison of North Loop vs Flywire here).
Use a local US Bank Account - Another way to pay fees is through your local US bank account. If you are a parent, you can transfer funds to your child’s bank account, and they can use the bank account details to make online payments through the university’s payment portal. However, nearly all US banks charge an incoming wire fee between $15-$40, so there is an added cost to sending money this way (North Loop charges no incoming wire fees).
A final option is to use North Loop.

Use North Loop to Pay University Fees

North Loop provides a variety of ways for both students and families to pay their university fees.
Online Transfer - since North Loop provides a US bank account, students can transfer funds to their university for free. And because North Loop charges no incoming wire fees, this means you pay nothing to receive and send money to the university! Also, this enables students to enroll in payment plans, thus providing international students with an exclusive way of splitting up their university costs and making it cheaper.
Global Money Transfer - North Loop also lets you pay for fees directly to the university with our Global Money Transfer platform. Anyone, anywhere in the world can send fees to the US through us, and with the best rates possible.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.