The AIPPIC program provides incentive credits to students who make tuition payments on time. Students can choose between making six consecutive monthly payments or two quarterly payments. Those who pay monthly will receive a credit equal to the average monthly payment amount, up to $500, for each six month period. Quarterly payers receive a 15% credit on their two payments, also up to $500. The program benefits students by rewarding responsible payment behavior and reducing tuition costs. In the 2011-2012 year, 126 students received over $57,000 total in credits through the AIPPIC program.

1. AiPPIC PROGRAM
THE ART INSTITUTES PAYMENT PLAN
INCENTIVE CREDIT PROGRAM

2.  The AIPPIC (The Art Institute Payment Plan Incentive
Credit) was implemented in the Fall 2011 quarter
 This program was devised to make a student’s future
educational expenses at the Art Institute more
affordable

3. HOW IT WORKS
 TWO PAYMENT OPTIONS AVAILABLE
 The student can choose to make six consecutive
monthly payments or two quarterly payments.
 Payments must be made on-time

4. MONTHLY PAYMENTS
 For every six monthly on-time payments made while
attending school, the student receives an incentive
credit equal to the average of the six monthly
payments
 Incentive credit not to exceed $500 over each six
month segment
 Any interest accrued during that time period will be
waived

5. QUARTERLY PAYMENTS
 For every two quarterly on-time payments made while
attending school, the student receives an incentive
credit equal to 15% of the student’s two quarterly
payments
 Incentive credit not to exceed $500 over each six
month segment
 Any interest accrued during that time will be waived

6. Examples
 Monthly payments
Example 1: If a student made payments of $1000 per month
for six consecutive months on-time, the school will credit
the account for the average of those six payments, not
exceeding $500 plus any interest accrued during that time
period will also be waived.
Example 2: If a student made 5 payments of $400 and one
payment of $200, the average of those 6 payments would be
$367 so the student would receive a credit of $367 plus any
interest accrued during that time period would also be
waived.

7.  Quarterly Payments
If a student made $1000 payments on their due date
each quarter for two consecutive quarters, the school
will credit the account for 15% of those two quarterly
payments, not exceeding $500, and any interest
accrued during that time period will also be waived.
In this example, the credit would be $300 ($2000 X
15%).

8. BENEFITS
 Making payments on-time reinforces fiscal
responsibility which assists students in the future
 Since the student is in the routine of making payments
on-time, this should aid the student with the overall
repayment of their education loans and in some cases
reduce the need for future education loans
 The student will financially benefit since they receive a
credit towards their tuition, making school more
affordable

9. DETERMINING ELIGIBILITY
 FAO will review each student to determine their
eligibility for the AIPPIC award
 FAO will package eligible students with an AIPPIC
award in the appropriate quarter of study
 FAO will monitor student’s accounts each quarter to
process and credit the AIPPIC award

10. 2011-2012 Fiscal Results
 AIPM - Monthly Payers with Aid
Students (32) = $10, 995.17
 AIMC – Monthly Cash Payers
Students (2) = $1,127.11
 AIPQ - Quarterly Payers with Aid
Students (66) = $32,199.42
 AIQC – Quarterly Cash Payer
Students (26) = $13,000.00

11.  Total Students (126) = $57,321.70
 For the 2011-2012 fiscal year, AIP was able to reward 126
students for making their payments on-time.