The Central Michigan University Board of Trustees approved a 4.6 percent tuition increase in July. In average terms, this means a student going to CMU for 30 credit hours this year (and not covered under the

CMU Promise, which fixed tuition for as many as five years for new students from 2005-08) will spend approximately $450 more to come to CMU.

Whether it is something with a big price tag, such as a PS3, or something as small as a few meals, $450 can go to many things.

Dean of Students Bruce Roscoe said families are trying to make ends meet, so the $450 means a lot to them.

“I think students and families have a tough time,” he said. “I think it takes real planning on the part of families and on the part of individuals to afford higher education today.”

Roscoe said he believes students will look for more work during the school year. He said he already saw more students contacting him, asking him about jobs in the area or on campus.

Roscoe said he is not sure the $450 increase will be a reason for many students to not come to CMU, but he said if other things happen in the future, many students might feel they are in financial jeopardy.

The plan offers automatic payment dates, which bills the student on the fifth of every month and offers account adjustment to student accounts any time changes occur to the account, such as bookstore refunds, dropping or adding a course or financial aid payments.

With the system, amounts charged to the account will be updated on a regular basis.

While enrollment for the fall semester ended July 31, students who wish to use it for spring can sign up Oct. 1 through Dec. 31.

Is it for you?

The plan, however, is not recommended for everyone, especially students on financial aid, said Diane Fleming, associate director of the Office of Scholarships and Financial Aid.

She said the plan is not beneficial for students utilizing financial aid that covers the full cost of tuition.

Enrollment instructions can be found in the “Finances” tab of the Central Michigan Student Portal.

If students have more questions about the new payment plan, contact the Student Account Services and University Billing at 774-3618.

National City Bank

National City Bank, which has three locations in Mount Pleasant, provides students with a lot of options, said Consumer Banker Edmund Price.

“If they work for the college, we have the Work Perks Package,” he said.

In that package, students are eligible for free savings, free checks, free non-national city ATMs and a lot of extra sides, including assistance with loans.

Students also have the opportunity to receive free checking and free savings.

Chemical Bank

Chemical Bank, which has two locations around town, offers an array of deposit and investment products, said Marketing Director John Hatfield.

Students have the options of free checking, the MI Savings Account that requires no minimum balance and a preferred rewards debit and MasterCard.

“You use it just like cash. It reduces the need to carry around cash, and when you sign for any transaction, you get points,” he said.

Chemical Bank also has a robust electronic banking system, he said, and students can use the Web site to check their account balance and pay bills.

Users are notified with an e-mail when they have a new bill, he said.

“We also have two offices in Mount Pleasant and we’re able to serve students and are also on campus from time to time,” he said.

Fifth Third Bank

“We have several products that are specifically geared toward college student,” said Jennifer Ranville, spokesperson for Fifth Third Bank, 1114 N. Mission St.

It offers options with minimum balance requirements, online banking, free checks, five free non-Fifth Third ATM transactions and one free incoming wire transfer for parents to send students money, she said.

Students who open an account before Sept. 30 are automatically entered in a scholarship sweepstakes, which offers a grand prize of $10,000 and 10 $1,000 scholarships.

Fifth Third also is promoting its viral campaign “Don’t Be That Guy,” meant to help students make good decisions.

Ranville said Fifth Third Bank also has a Goal Setter Savings Account.

“If you are trying to save up for something specific, you get special incentives for reaching your goal such as get higher interest rates,” she said.

Isabella Bank

At Isabella Bank, which has five locations in Mount Pleasant, students are eligible for free checking and savings accounts.

“We do have Anywhere Checking, you can do banking from pretty much anywhere,” said Community Relations Director Mary Olivieri.

Isabella Bank’s online banking offers bill pay, touch-tone banking by phone and e-statements so students do not have to have statements mailed to parents, she said.

The bank has more than 20 ATMs in the mid-Michigan area, including Meijer, 1015 E. Pickard St.; Central Michigan Community Hospital, 1221 South Dr.; and Kroger, 4080 E. Bluegrass Road, and five offices in Mount Pleasant.

“If students have questions, we will certainly take the time to answer them,” Olivieri said.

Isabella County Credit Union

The Isabella County Credit Union, which has two locations in Mount Pleasant, was established as a student-centered credit union, said Heather Harris, vice president of community development and marketing.

“No question is ever too silly,” she said. “We try our best to help students manager their money.”

Once students establish a membership savings account, they have access to other products, as long as they are eligible. Members do not have to pay fees on most products and are eligible for free loan applications.

Students have access to free checking, free ATM usage, two Mount Pleasant locations and online account access, she said.

“You can get to (your account) from any computer. It’s a breeze to use,” Harris said.

The online account includes options to check account balances, transfer funds and pay bills.

Harris said many people use the online account access and, once a member, people do not even have to come in.

“Everything stays within our community. We reinvest in our community,” she said. “We try to give back in any way we can.”

Central Michigan Community Credit Union

Vice President of Operations Beth Brown said Central Michigan Community Credit Union, 4976 E. Broadway St., offers debit cards, Visa cards, loans and free checking.

“We do have a program when they open account, we have a free gift,” she said.

CMCCU offers online banking, she said, which includes free bill pay, audio response to make transfers and check balances.