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Payment Policy

Illinois Institute of Technology establishes an account for each of its students for the purpose of charging tuition and fees, room and board, and other applicable university charges. You can access your account information directly online by logging into myIIT and looking under the Finances tab. The Illinois Institute of Technology does not meet the definition of a "Financial Institution" as described in 31. U.S. Code 5312; therefore, Illinois Tech cannot accept payment for purposes other than educational expenses determined by The Institute. This policy pertains to overpayments made by the student, the student's family, and/or sponsors. Overpayments/refunds as a result of federal loans and/or scholarships are also exempt from this policy.  Please note: payments received in excess of the amount billed will either be placed on deposit for an upcoming semester, or the payment will be returned to the sender. (In the case of wire transfers, the wire transfer will be reversed to return funds back to the originating account).

Navigation to your account: Finances Tab → Manage My Student Account channel → Manage My Account link

View your charges, due dates for these charges, payments, and credits from financial aid at any time.

Payments of all charges for a term are due on the first day of the term to which the charges apply. If you pay less than the total amount due by the respective due date you will be assessed a monthly late payment fee of 2% on the remaining unpaid portion.

The Student Accounting Office will accept payment only up to the total amount of tuition and fees assessed to your student account. Payments in excess of current charges will not be accepted. All online payments must be processed through Manage My Account via TouchNet and TouchNet PayPath (credit cards) to verify your identify and authenticate your information. 

IIT does reserve the right to cancel registration depending on circumstances for non-payment. If you have a past due balance remaining, in addition to the assessment of late payment fees, you will have a hold placed on your records. This hold will prohibit your from obtaining official transcripts and/or registering for future-term classes until the account balance is paid in full. To be able to register for the next term, you should pay your accounts in full. Click here for more information about registration holds and late payments.

Financial Responsibility

By registering for courses at IIT, you accept financial responsibility for payment in full of your student account plus (if necessary) any additional costs that may be incurred by the university in the collection of these debts. Late payment fees will be applied to past due amounts. Failure to pay a past due debt may result in the debt being listed with the State Comptroller’s Offset Program, being referred to a collection agency, and/or initiation of other authorized legal debt-collection procedures. Under such circumstances, you are responsible for all fees and costs incurred by IIT in the collection of the past due debt, including collection fees and/or attorney’s fees.