Transcript Tuition Billing and Financing Your Education at the

Tuition Billing and Financing
Your Education at the
University of New Haven
Presented by Marc Maniatis
Director of Student Accounts & Risk Manager
2012-2013
Tuition Bills
• Bills for the Fall 2012 semester were mailed home in
early June to all students who paid enrollment deposits.
• The Fall bills are due by July 6th. As of mid July, all
subsequent tuition bills will be available online.
• The June bills reflect anticipated tuition and fee charges
and a credit for anticipated financial aid as aid cannot be
made official until classes begin.
• Anticipated aid credits will be removed from accounts if
aid files remain incomplete after July 6.
• Federal work study will not appear on bills and should
not be deducted from the balance due.
Tuition and Fees – Residential Student
Per Semester
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Tuition (12 to 17 credits)
General Student Fee
Standard Double Room
Housing Activity Fee
Charger Unlimited
TOTAL
$ 15,750.00
625.00
4,250.00
50.00
2,550.00
$ 23,225.00
Additional Charges and Expenses
• Lab fees, tuition differentials, and tuition overtime
charges are for specific courses and are based on a
student’s enrollment.
• The lab fees range from $30 - $3,000.
• Tuition differentials are $80 per credit and generally
apply to engineering, computer science, and chemistry
courses.
• Books and supplies are not included on the UNH tuition
bill and cannot be charged to the account. These items
must be purchased separately at the UNH bookstore.
• Plan to budget about $500 per semester for books and
supplies (this may be higher or lower based on a
student’s course selection).
ePay
• The paper bill you received in June and the paper bill
you may receive in July are the only paper bills you will
receive from UNH. Future bills will be available online
and notification of these bills will be sent to your UNH
email address.
• Students access ePay through the Matrix system.
• Students can set up authorized users so that others will
have access to the same information and functionality.
• With ePay, payments can be made with a credit card or
with funds from a checking or savings account (ACH).
• Direct deposit of student refunds is available in ePay
ePay
• We no longer prepare and mail paper bills – we use
electronic bills exclusively. The lone exception would be
the first two freshman bills in June and July.
• It is very important that your student sets you up to be an
authorized user on the account. Once this is done, you
will receive emails when bills are available and you will
have access to the account 24 hours a day to review
activity and make payments.
• It is not advisable for parents to log in with their student’s
log in information. Creating your own authorized payer
account allows you to securely store your payment
information.
Financial Aid Online
• Beginning August 23rd all communication will go
to the student at his or her UNH email address.
• Students need to monitor their UNH email
accounts for important information from many
different offices on campus.
Payment Options
• Bills can be paid online through a US based bank
account (ACH) or with Visa, MasterCard, and American
Express. We strongly encourage you to make your
payments online through ePay.
• If you do not pay online, checks should be made payable
to UNH and mailed to the Bursar’s Office.
• If you do not pay online, UNH accepts Visa, MasterCard,
and American Express by phone or in person.
• Cash payments are accepted during business hours in
the Bursar’s Office.
• Wire transfer information is available upon request.
Monthly Payment Plan
• The UNH monthly payment plan is administered by
Tuition Management Systems (TMS).
• The TMS monthly payment plan allows payments to be
made over a 10 month period, interest-free, starting in
July.
• Your monthly payments are remitted to UNH at the end
of the month.
• You can catch up if you do not enroll in July by making a
double payment to cover July and August.
• The enrollment fee of $ 70 includes life insurance for the
person responsible for paying the bill.
• (888) 437-3430 or www.afford.com/newhaven
Student Loans – Alternative Loans
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The student is the borrower and will
most likely be required to apply with a
co-signer.
The rates and terms vary based on
the type of loan and the lender.
An alternative loan can be obtained
for the cost of attendance minus any
other aid.
Deferred repayment options may be
available. Please consult with your
specific lender for more information.
New loan regulations have altered the
way alternative loans will be
processed and will increase
processing time. Please be sure to
apply promptly and allow yourself
enough time to complete the loan
process.
Parent Loans-PLUS Loans
• A PLUS Loan is borrowed by one parent only.
• The parent must pass a credit check – if the parent is
denied the student will automatically receive an
additional $4,000 unsubsidized Direct Student Loan.
• The loan limit is the cost of attendance minus any other
aid.
• The interest rate is 7.9% and the origination fee is 2.5%.
• Repayment begins 60 days after loan is fully disbursed –
minimum of $50/month.
Which Option is Right for You?
• All of these financing tools can
be used together – you do not
have to use one option
exclusively.
• Your personal financial situation
will dictate which plan is best for
you.
• If you are contemplating loans,
consider who will be borrowing.
• Consider TMS to use funds from
your monthly income to limit the
amount you must borrow.
Refunds
• Refund checks are issued to the student unless the
refund is due to an overpayment from the proceeds of a
PLUS Loan. In those cases, excess funds are refunded
to the parent who obtained the PLUS Loan.
• Direct deposit of refunds is now available through ePay.
• Refunds are issued on Fridays. Funds must be received
in the Bursar’s Office by 9:00 AM on Wednesday if a
refund is to be available by the Friday of the same week.
• Every effort is made to refund excess funds as promptly
as possible but we cannot guarantee a refund for a
specific date.
Refunds
• Federal cash management guidelines stipulate that UNH
must refund excess loan funds within 14 days of
crediting a student’s account.
• Refunds will not be available early enough to be used for
books. Books should be purchased prior to the start of
classes.
• A written request is required for UNH to hold excess
funds on the tuition account of a student for any given
year. With this written permission, we can hold funds
from one semester to the next. However, UNH cannot
retain excess funds from one year to the next.
Withdrawal Refund Policy
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Date of Withdrawal
Before Classes Begin
First Week
Second Week
Third Week
Fourth Week
After Fourth Week
Refund Amount
100%
80%
60%
40%
20%
0%
Tuition Insurance
A.W.G Dewar, Inc
• This is an optional insurance policy to cover a withdrawal
due to medical reasons.
• The policy reimburses 75% for a documented medical
withdrawal.
• The premium cost for the year is $ 372 for residential
students and $ 262 for commuter students.
• If you wish to purchase this you must do so prior to the
first day of classes which is August 27th.
• www.collegerefund.com or (617) 774-1555
Bursar’s Office
• Office location: Maxcy Hall Room 109
• Office hours M-F 8:30-4:30 (the office
closes at 1:30 on Fridays in June,
July and August)
• Phone (203) 932-7217 or (800) DIALUNH ext. 7217
• Fax (203) 931-6086
• www.newhaven.edu/bursar
• Email address:
[email protected]
• 300 Boston Post Road, West Haven,
CT 06516