Docstoc
EXCLUSIVE OFFER FOR DOCSTOC USERS
Try the all-new QuickBooks Online for FREE.  No credit card required.

Financial Obligations

Document Sample
Financial Obligations Powered By Docstoc
					Student Billing and Refund Information
The Business Office sends a statement on or about July 6 for the fall term and December 15 for the spring term. Payment of the standard charges (tuition, room and board) is due August 3, 2009 for the fall term and January 15, 2010 for the spring term.

Pre-Registration Statement
The enclosed Pre-Registration Statement is an estimated statement of charges for the 2009 Fall Term. Students registered for more than 5 credits will be charged an overload fee. The fee is $2,100 for a full credit or pro-rated for a partial credit. The charge will be based on the student’s registration on the last day to add a class, which is September 8th for the fall term. The Current Account Balance is the total of your charges. Confirmed Pending Financial Aid is ready to be applied to your current charges - you have completed all necessary paperwork and no other action is required of you. The Balance Due is the amount of your total charges minus your confirmed pending aid. You may deduct any amounts shown as Unconfirmed Financial Aid, Texas Tomorrow Fund, and new or adjusted TuitionPay contracts from your Balance Due. Further action is required of you on the following items: Unconfirmed Financial Aid Unconfirmed Financial Aid is incomplete and will not be applied to your account balance without further action on your part. It is the responsibility of the student to follow-up on the status of loan applications with the lender(s). Please review the notes below regarding your specific loan types. AC Grant Loan, Federal Perkins Loan and Westminster Loan: Student signature is required on loan affidavit each term. Affidavits will be available at Registration Confirmation for returning students. First time borrowers will complete all loan documents at entrance loan counseling (September 1 @ 11:00 am, Hoxie Thompson Auditorium). Federal Stafford Loans and Federal PLUS Loans: Contact information for our preferred lenders may be found on our website at http://www.austincollege.edu/Category.asp?720. Please note that the loan amount reflects a reduction of 4% for the loan origination fee and insurance. Loan fees vary by lender. Aid is approximated based on the maximum allowed fee of 4%. Your fees may be less. CAL Loans and Texas B-On-Time (BOT) Loans: You may check on your loan status at www.hhloans.com or by calling the Texas higher Education Coordinating Board at 800 242-3062. Please note that the loan amount reflects a reduction of the loan origination fee and insurance of 3% on BOT Loans and 5% on CAL Loans. Outside Loans: Contact information for our preferred lenders may be found on our website at http://www.austincollege.edu/Category.asp?720. Please note that the pending aid amount may reflect a reduction of the loan origination fee and insurance. Loan fees vary by lender. Outside Scholarships Outside Scholarships will not show as Confirmed Pending Financial Aid unless Austin College has received the funds. You must notify the Financial Aid Office of any scholarships awarded to you. Outside Scholarships are split and applied one-half to the fall balance due and one-half to the spring balance due. You will not be penalized for outside scholarships that have not arrived; however, it is your responsibility to follow up with the institution awarding the scholarship(s) to ensure that payment is received by the end of the term. You may use Web Hopper (https://hopper.austincollege.edu/hlive/webhopper) to see your statement and check the status of your financial aid. Please direct all questions concerning financial aid paperwork to the Financial Aid Office at 903 813-2900/800-Kangaroo (526-4276) or finaid@austincollege.edu.

Payment Options
You have the following payment options: 1. Pay the entire Balance Due for the Fall Term 2009 on or before August 3, 2009 by check or money order. Austin College does not accept credit card payments, except as disclosed in option 3. 2. Participate in the Austin College Deferred Payment Plan. This plan allows for the Balance Due to be divided into four payments. Please see enclosed form titled Austin College Statement of Financial Obligation for the terms and conditions of this plan. 3. Participate in the TuitionPay Monthly Payment Plan, or TuitionPay Express Credit Card Plan, offered by an outside vendor. Please see enclosed form titled TuitionPay Information Sheet for details.

Credit Balance and Credit Balance Option Form
If your semester statement indicates Credit Balance No Payment Due, you will be entitled to a refund once all pending financial aid is posted to the account. Refunds will not be given until after the first day of class, and financial aid is complete. Please complete and return the enclosed form titled Credit Balance Option Form. Bookstore credit is for those students who expect to have a credit balance once all their financial aid is posted to their accounts. If you will not have bookstore credit, please make sure that you will have means to buy your books. The Financial Aid Office estimates the costs of books to be between $500 and $600 per semester. If the credit balance is a result of your TuitionPay contract, a refund will be given later in the semester when the contract has been fulfilled. You may wish to contact TuitionPay at 1-800-635-0120 and reduce your contract.

Drop Policy (Full-Time Tuition vs. Part-Time Tuition) and Overload Fee Refund
Term charges are prorated if a student drops from full-time to part-time after the last day to add and before the end of the fourth week of classes. A prorated full-time tuition credit as well as a prorated part-time charge will be assessed as in the chart below. If a student is assessed an overload fee on the last day to add, and later drops, a prorated credit of the overload fee will be assessed as in the chart below. No credits will be given after the fourth week of classes. Date of Drop Full-Time Tuition Credit & Part-Time Tuition Charge/Overload Fee Credit During second week of classes 75% During third week of classes 50% During fourth week of classes 25% After fourth week of classes No adjustment to charges

Withdrawals: Charges and Refunds
Students who withdraw from school and fail to notify Austin College before July 15 for the Fall Term and before December 15 for the Spring Term forfeit $100 of the General Deposit. Tuition Refunds after registration: Fall 2009 Prior to 9/1/09 9/1/09 – 9/7/09 9/8/09 – 9/14/09 9/15/09 – 9/21/09 9/22/09 – 9/28/09 9/29/09 and after

Spring 2010 Prior to 2/1/10 2/1/10 – 2/7/10 2/8/10 – 2/14/10 2/15/10 – 2/21/10 2/22/10 – 2/28/10 3/1/10 and after

Refund 100% 80% 75% 50% 25% 0%

Residence Halls: Students who notify Student Life prior to May 15 that they will not be living in the residence halls will have no penalty. After May 15, but before move-in, there will be a $100 charge for breaking a housing contract. After move-in, the charge will be $300, plus prorated weekly charges. Apartments: A student who cancels an apartment lease after acceptance will be charged $300. Board: Refunds for a meal plan will be calculated on a prorated basis less Hopper Dollars.


				
DOCUMENT INFO