1. Money Matters:
Understanding Your Bill, Financial Aid, & Developing Financial Literacy
Academic Year
Michael Discolo
Manager of Student Accounts

2. Agenda Costs / Health Insurance
Billing Timeline & Statements / E-Bills
Payment & Financing Options / Payment Plan
Financial Aid / Private Loans / Outside Grants
Clearance Process
Developing Financial Literacy

3. 2017-2018 Tuition Related Costs
Fall (1st Bill) Spring (2nd bill) Total Charges
Tuition $17, $17, $34,950.00
Room/Board* $7, $7, $14,975.00
General Fee $ $ $1,250.00
Student Activity Fee $ $150.00
Orientation Fee $ $275.00
Room Damage Dep $ $100.00
Health Insurance** $2, $2,679.00
$26, $25, $51,700.00
Resident Total Charge $51,700.00
Commuter (Non-Resident) Total Charge $36,625.00
** With Health Insurance, Total Charge $54, (resident)
$37, (commuter)

4. Health Insurance Waiver / Enrollment
Required by the Commonwealth of Massachusetts
$2,679 annual premium for academic year (8/15/17 – 8/14/18)
If already covered, students must complete: HI Waiver Form
To waive or enroll, students must go to:
Students currently enrolled in MassHealth must complete waiver to enroll in BCBS Health Insurance.
Deadline to complete waiver is August 15, 2017

5. Billing Timeline 2017-2018 Statements
Bills mailed to legal address (on file) each semester
Fall 2017 Semester Bill
Mailed July 1, 2017
Due August 1, 2017
Spring 2018 Semester Bill
Mailed Nov 15, 2017
Due December 20, 2017
Students must be financially clear before they can move in, start classes, or begin sports.

6. E-bills / Electronic Payments
Electronic billing statements can be found on the student portal – My Wheelock
Online payments can be made by electronic check or credit/debit card
AMEX payments cannot be used online - must be called in to Student Accounts ( or )
“Authorized Payer”
Setup parent login pin and password

7. Payment and financing options
Personal Check, Money Order, Traveler’s Check (mail to college – return envelope in July billing packet)
Visa, MasterCard, American Express or Discover
Electronic Check / Credit/Debit Card Payment through Wheelock on-line Billing and Payment System (My Wheelock)
Wire Transfer
Monthly Payment Plan through TuitionPay –
College Savings Plan and Payment from 529 / Retirement Plans
Federal Parent Loan for Undergraduate Students (PLUS) Loan
Private Education Loans

8. Tuition pay Tuition Payment Plan
8 – 10 month payment plans over the course of the school year
4 month plans are available as well
Set up through Tuition Pay:
$55 annual fee (8 -10 months)
$35 semester fee (4 months)
Yearly plan must be setup by: August 1, 2017
Plan must include both fall and spring semester balances (double fall balance for estimate)

9. Credit-based Student Loans / Outside Scholarships
Credit Based Loans
May borrow up to full cost of education after financial aid - Cost of Attendance
Please initiate requests NOW so we can ensure processing prior to the bill due date
Decide on amount (plan for both terms) and choose a lender - ELM Select / Parent-Plus
Outside Scholarships
Students must provide written documentation of the scholarship(s) for the pending award to be reflected on the billing statement- Award Letter
Student is responsible for completing the scholarship process and making sure funds are received

10. Financial Aid – Things to do
FAFSA (Free Application for Federal Student Aid)
Confirm completion and that all verification forms have been submitted (completed annually in spring)
Financial Aid Verification Paperwork (if required)
Send in completed verification form, tax transcripts, etc.
Federal Stafford Loan
Complete Entrance Counseling (
Complete Master Promissory Note (
Ensure FSA ID is accurate (
Outside Scholarships
Send agency notice into Financial Aid (award letter from donor)

11. Clearance Process Cleared Non-Cleared
Move into residential hall and attend orientation
Begin attending classes
Participate in athletics and extracurricular activities
Non-Cleared
Receive weekly notifications prior to start of semester
Cannot attend classes or move onto campus
Must meet with Student Accounts to clear bill prior to moving in or beginning classes

12. Developing Financial Literacy
Wheelock is committed to developing student’s financial literacy
Courses and Tools at
click “Financial Literacy” link
Assistance in creating a budget, managing finances, and understanding student loans
Cash Course
Online tool to navigate finances during and after college
Studentloans.gov – loan counseling
Budgeting Tools
Cash Course
On Campus Budgets
Off Campus Budgets
Life After College
Education Tax Benefits
Credit Reporting
Paying Back Student Loans

13. Contact Information
Offices located in Student Service Center
Student Accounts Office (ACW - 1st Floor)
Telephone: (617) or (617)
Fax: (617)
Financial Aid Office (ACW - 1st Floor)
Telephone: (617)