Glossary
Payment plan
An arrangement that lets a family pay a year's tuition in several installments instead of one payment, often through a tuition management service the school uses.
Why it matters
Tuition is charged in U.S. dollars, so a payment plan also spreads exchange-rate risk across the year. Ask whether a plan carries a fee and when each payment is due.
Who decides
The school decides which plans it offers.
Not sure what this means for your child?
A GESP consultant can explain the term in the context of your family's own plan.
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