MPACT Contract Payments

MPACT Contract Payments. MPACT Contract payments are due in full on the dates specified in the MPACT Contract. Contract payments may be made under the following payment options, chosen by the Purchaser at the time of application into the MPACT Program: A. A lump sum payment due in full on or before the date designated by the State Treasurer. B. Continuous monthly payments beginning on a date specified by the State Treasurer and continuing on a monthly basis until no later than the summer of the Projected Enrollment Year of the Qualified Beneficiary. C. A down payment (partial lump sum) followed by continuous monthly payments beginning on a date specified by the State Treasurer and continuing on a monthly basis until no later than the summer immediately preceding the Projected Enrollment Year of the Qualified Beneficiary. D. A series of annual payments beginning on a date specified by the State Treasurer and continuing on an annual basis.