Alternative Financing Options
Determining the best way to finance your education.
UMass Amherst partners with Tuition Management Systems (TMS) to provide an Interest-Free Monthly Payment financing solution for our families. The Monthly Payment option is one way to address any balances that may remain after you have applied your financial aid award to your educational expenses. If a payment plant suits your needs consider enrolling in this option.
Interest-Free Monthly Payment Option
We recommend the interest-free monthly payment option, administered through the UMass Amherst Bursar’s Office and Tuition Management Systems (TMS), to help budget payment of your educational expenses and limit your debt. Instead of the usual large payment due at the beginning of each semester, you may budget all (or a portion) of tuition, fees, and room-and-board expenses in monthly payments. With this option, you have the freedom to use your money to earn interest or investment income while you pay in small installments over the course of the semester or the year. This is not a loan program; there are no interest or finance charges and no pre-qualification or credit check for this service. However, there is an annual enrollment fee of $45.
Benefits of the interest-free monthly payment option:
- Interest-free monthly payments
- Life insurance to cover payments
- 24-hour access to account information online and via the touchtone InfoLine
- Payment methods include personal checks, money orders, credit cards, Western Union wire or check, and ACH for automated payments from your checking or savings account
- Education Payment Counseling to help keep debt low
- Toll-free, top-rated telephone service during extended personal service hours
For an application and program details visit the TMS Web site or call 1-888-216-4258.
