Report: The Late Tuition Payment Epidemic
Nearly half of all students and more than a third of financial supporters are currently late on payments or have been in the past. For the new Tuition Payments Study, PYMNTS surveyed 1,983 consumers to analyze the challenges students and supporters face in paying for college education and the role that payment plans can play in alleviating tuition payments pain.
• 50.5%: Share of supporters who rely on employment income to pay for tuition
• 31.7%: Portion of students who work part-time and say it is “somewhat” or “very” hard to pay for tuition
• 54.2%: Share of students who are currently late on payments and find it “somewhat” or “very” easy to pay for tuition