Penn State students now have the option of paying tuition expenses in smaller monthly installments through a program known as "Lion-Pay."
The new tuition payment plan, run through the educational payment plan provider Tuition Management Systems (TMS), allows families to pay tuition over a period of months, instead of in one lump sum.
Students enrolled for the summer semester can immediately take advantage of Lion-Pay, said Assistant Director of Admissions David Gildea.
The plan charges an enrollment fee of $28 per semester or $50 per year, according to a press release.
The semester plan allows interest-free tuition payments to be paid over three, four or five months, and the yearlong plan allows tuition to be paid over eight, nine or 10 months.
Financial aid can still be used toward the payments.
Although Penn State offered an installment payment plan before, it was only offered as a three-payments-per-semester plan.
Amelia Kristofik, who works two jobs to help her family pay for her education, said the new tuition payment plan could relieve some of that burden.
"[The new plan] might be easier if I'm making a certain amount each month," Kristofik (freshman-liberal arts) said. "It'll be easier for me to pay now instead of having to pay back all the interest from student loans."
Penn State's tuition is again set to increase next year, but the amount by which it will increase is still in question.
If the Pennsylvania state legislature grants Penn State's request for a 6.8 percent increase in state appropriations, tuition for in-state University Park students could raise by 4.8 percent, the lowest tuition increase since the 2000-01 school year.
If the appropriation request isn't met, then tuition will likely increase more significantly.
Roseann Sieminski, the assistant controller/bursar, served as chairwoman for the committee that recommended adopting TMS.
She said the committee looked at five or six payment plan providers and ultimately chose TMS because it was the only provider managing payment plans for many universities that could handle Penn State's size.
All of the providers charged a fee for their service, she said.
"It was the only company that seemed to be large and focused exclusively on tuition payment plans," she said.
The fact that TMS met those credentials and provides benefits like a call center with extended hours and financial counseling for families made it the best choice, she said.

