A system, method, and computer program product are provided for monitoring and allocating a quota for a user session associated with a service corresponding to a communication service provider (CSP). In operation, at least one user session associated with at least one user is identified for allocation of quota information (e.g. information associated with quota size, timeout, etc.) for use of a service associated with a communication service provider. The allocation of the quota information is based on an available balance for use by the at least one user. Further, at least one consumption report of previous quotas associated with the at least one user session is evaluated to identify intervals with high correlation of used service units for consecutive quotas. Additionally, a dynamic quota to allocate to the at least one user session is determined for at least one time period based on the identified intervals with high correlation of used service units for consecutive quotas. The dynamic quota includes at least one calculated quota for at least one specific future time interval based on actual past service usage by the at least one user session for at least one specific past time interval. Moreover, the dynamic quota is allocated to the at least one user session for use of the service associated with the communication service provider.