Monthly Payment Plan Terms and Conditions

The participant will make the required monthly payments by check or money order in U.S. Dollars, by credit card, Direct Debit (ACH), or Electronic Payment to the University of Northern Iowa, c/o ECSI at such times and in such a manner that the full amount of each payment will be received on or before the first day of each month in which it is due. The amount of the monthly payment shall be credited to the participant's account with ECSI. A $30 service fee will be charged for all returned payments by ECSI, in addition to any charges that may be assessed by your bank.

ECSI will disburse the balance in the participant's account to the University of Northern Iowa as required by the school until such time as all funds are disbursed in full, or the account is closed for any reason. The obligation of ECSI to make disbursements to the school shall at all times be limited to the amount in the participant's account.

If any payment due is not received by the close of business on the last day of the month following the month in which it is due, the participant's plan will be terminated.

The participant may terminate the Agreement at any time by written notice to ECSI in which ECSI shall pay the balance in the account to the school unless written instructions to the contrary are received from the school. The Agreement will terminate in any event upon plan termination due to delinquency or upon the making of the final school disbursement.

Bank Draft Option Instructions/Terms and Conditions

To activate - Payments for amounts due the University of Northern Iowa may be deducted from a checking account through an automated clearing house (ACH) debit. To participate, please complete the Automatic Payments section at the bottom of the University of Northern Iowa Monthly Payment Plan Application.

First ACH withdrawal date - You will be notified by ECSI via email when the first debit will occur. The start date is determined by processing time. Applications and fees received by the 25th of the month will be drafted on the 1st day of the following month. Payments will be withdrawn from your checking account on the first business day of each month. A record of each charge will be included in your regular bank statements and will serve as your receipt.

Placing a 'Stop Payment' - You have the right to stop payment by notifying your bank three business days before the checking account is charged.

Canceling the direct debit - This authorization is to remain in effect until the Monthly Payment Plan ends or is canceled by the bank or customer in writing at least five business days before the withdrawal occurs.

Returned payments - Monthly payments returned to ECSI for insufficient funds will be charged a fee of $30. Withdrawals refused for two consecutive months will result in automatic cancellation of the Monthly Payment Plan.

ECSI is not responsible for bank errors. Please keep a copy of this agreement for your records.