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Tuition Billing and Financing Your Education at the University of New Haven Presented by Marc Maniatis Director of Student Accounts & Risk Manager 2012-2013.

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Presentation on theme: "Tuition Billing and Financing Your Education at the University of New Haven Presented by Marc Maniatis Director of Student Accounts & Risk Manager 2012-2013."— Presentation transcript:

1 Tuition Billing and Financing Your Education at the University of New Haven Presented by Marc Maniatis Director of Student Accounts & Risk Manager 2012-2013

2 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.

3 Tuition and Fees – Residential Student Per Semester Tuition (12 to 17 credits)$ 15,750.00 General Student Fee 625.00 Standard Double Room 4,250.00 Housing Activity Fee 50.00 Charger Unlimited 2,550.00 TOTAL$ 23,225.00

4 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).

5 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

6 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.

7 Financial Aid Online Beginning August 23 rd 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.

8 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.

9 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

10 Student Loans – Alternative Loans 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.

11 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.

12 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.

13 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.

14 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.

15 Withdrawal Refund Policy Date of WithdrawalRefund Amount Before Classes Begin100% First Week80% Second Week60% Third Week40% Fourth Week20% After Fourth Week0%

16 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 27 th. or (617) 774-1555

17 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) DIAL- UNH ext. 7217 Fax (203) 931-6086 Email address: 300 Boston Post Road, West Haven, CT 06516

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