Mount Sinai Phillips School of Nursing

IMPORTANT DISCLAIMER: The information on this webpage is to familiarize students to the changing landscape of federal student programs. The information provided is offered in good faith and represents our understanding of the evolving federal standards. The information provided is not official guidance and should not be regarded as definitive.

Major changes take effect July 1, 2026, and impact the 2026/2027 Academic Year (July 1, 2026 – June 30, 2027) and forward.

Federal Student Loan Changes – Current Borrowers

Current Borrowers: For Loans First Disbursed before July 1, 2026

Undergraduate: Direct Subsidized and Unsubsidized borrowing limits remain unchanged

Parent PLUS Loans: Parents can borrow up to Cost of Attendance (as determined by the school) and can continue under this “legacy/grandfathered” status as long as the student remains in their current program at their current school for up to an additional 3 years or until program completion, whichever is less

Graduate: Direct Unsubsidized borrowing remains unchanged at $20,500.

Graduate PLUS loans: Graduate students can borrow up to the Cost of Attendance (as determined by the school) and continue under this “legacy/grandfathered” status as long as the student remains in their current program at their current school for up to an additional 3 years or until program completion, whichever is less

Federal Student Loan Changes – New Borrowers

New Borrowers: For Loans First Disbursed On/After July 1, 2026

Undergraduate: Direct Subsidized/Unsubsidized borrowing limits remain unchanged

Parent PLUS: New limits — $20,000 per year per dependent student, either parent;  $65,000 lifetime per dependent student (combined across all parents).

Graduate: Grad PLUS eliminated for new borrowers starting July 1, 2026.

Graduate Unsubsidized: Annual limit remains $20,500; new lifetime maximum $100,000 for new borrowers.

Professional programs (e.g., law, medicine): Unsubsidized limit $50,000 annually; $200,000 lifetime.

Part-time enrollment (between 11 and 6 credits): Loan eligibility is prorated based on enrollment status.

Definition of Professional Degrees

The definition of professional degrees has changed under the One Big Beautiful Bill. Under the new rules, programs such as nursing, physician assistant, physical therapy, education, and social work are not classified as professional degrees. Graduate students in these fields are subject to the $20,500 annual unsubsidized loan limit (not the $50,000 professional cap).

Loan Proration

The below amounts assume that the student will be enrolled as a full-time (12 credits) student. Any student registered for less than 12 credits (between 11 and 6 credits) will have their federal student loans prorated based on a calculation determined by the US Department of Education. All calculated amounts are final and are based on the number of enrolled credits.

Undergraduate (Sub/Unsub) Borrower (Dependent vs. independent status determines limit)

• $5,500 – $12,500 annual limit (no change)
• $31,000 – $57,500 aggregate/lifetime limit

Graduate (Unsubsidized) Borrower (Excludes Undergraduate Borrowing)

• $20,500 annual limit
• $100,000 lifetime limit (new borrowers)

Professional Programs (Unsubsidized) Borrower (Applies to Specified Professional Degrees)

• $50,000 annual limit
• $200,000 lifetime limit

Parent PLUS Borrower

• $20,000 limit per year per dependent student, either parent
• $65,000 lifetime limit per dependent student (combined across all parents)

Changes to Student Loan Repayment Plans

Starting July 1, 2026, the federal student loan repayment system will be streamlined: 

• ​Two repayment plans will be available for new federal student loans: 1) a new Standard Repayment Plan (fixed monthly payments over a set term); and 2) a new income-based option called the Repayment Assistance Plan, or RAP, which sets payments based on your total adjusted gross income and offers forgiveness after a longer timeframe (likely up to 30 years) 
• ​Existing income-drive plans like PAYE, ICR, and the SAVE Plan will no longer be availablefor loans issued after this date 
• ​Borrowers who already have loans beforeJuly 1, 2026, can continue with existing plans for a transition period but must choose between current plans or the new RAP by July 1, 2028​ 

This change affects: 

• ​NEW BORROWERS with loans disbursed on or after July 1, 2026. These borrowers will only have the Standard Repayment Plan and the new RAP to choose from. Parent plus loan borrowers taking new loans after this date will not be eligible for RAP and must use the Standard Plan 
• ​EXISTING BORROWERS These borrowers have loans that were disbursed prior to July 1, 2026. You can stay in or switch between current plans until June 30, 2028. If you have not chosen a plan by that date, you will automatically be placed in RAP or a qualifying plan automatically

Ways to Prepare for Repayment

Being prepared to repay your student loans is an essential step toward building a strong financial future. Understanding your repayment options, estimating your monthly payments, and creating a realistic budget can help you avoid delinquency and unnecessary stress. Taking proactive steps now allows you to stay in control of your finances and make informed decisions that support your long-term goals.  

​EXAMPLES OF WAYS TO PREPARE FOR REPAYMENT: 

1. ​Understand Your Current Plan: Check what plan you’re enrolled in and whether it’s impacted by the changes. Use the Federal Student Aid Loan Simulator at https://studentaid.gov/ to compare payment amounts under different plans. ​ 
2. ​​Estimate Future Payments: Start budgeting for what repayment could look like under the Standard Plan versus RAP. Compare your monthly projected payment against your expected income after graduation. 
3. ​Act Before Deadlines: Make sure to enroll or switch your payment plan prior to June 30, 2028 to preserve your current status prior to automatic transitions.  
4. ​Track Your Income and Finances: Keep accurate records of income and family size as they help determine income-based payments. Consider building an emergency savings buffer so you are prepared when payments begin. 
5. ​Reduce Debt Early (If Possible): Paying more than the monthly minimum while still in school ​or during grace periods can reduce interest costs. Explore employer programs that contribute to student loan repayment. ​
6. Consult Resources: Contact your loan servicer or a financial aid counselor. Visit https://studentaid.gov/ and use federal repayment tools for personalized guidance.  

Students interested in applying for Federal Direct Student Loans should complete the most recently available FAFSA(s). The FAFSA (Free Application for Federal Student Aid) is a free form that helps determine how much federal and state aid you may be eligible for.

To complete the FAFSA, students should:

1. Create, or login, using an FSA ID on the Federal Student Aid website, https://studentaid.gov/.
2. Have your and/or your parent(s) prior, prior year tax returns, W2 forms and other income documents. (For example, if you are completing the 2026/2027 FAFSA, please have your 2024 income information available.)
3. For FAFSA question: STUDENT COLLEGE OR CAREER SCHOOL PLAN, please respond with OTHER UNDERGRADUATE (JUNIOR YEAR OR BEYOND)
4. Our federal school code is: 006438

The School will receive your completed FAFSA within 5-7 business days. Each FAFSA is reviewed to determine if 1) any additional documents are needed prior to finalizing any federal student loans; and 2) a student’s eligibility for federal student loans by reviewing prior student loan history. Once a FAFSA is reviewed and processed, a student will receive an award letter outlining their eligibility for federal student loans. Students will have the option of ACCEPTING or DECLINING all federal student loans offered. Instructions regarding the completion of the entrance counseling and master promissory note are included for all students who ACCEPT their loans. A loan is not finalized until all required documentation, including missing information, as well as the entrance counseling and master promissory note, is received by the school. Students have up until one week prior to the start of each semester to make any changes and/or adjustments to their federal student loans. Students entering the Second Degree Bachelor of Science in Nursing Program are not eligible for the Federal Pell Grant since they are entering the program having already obtained a bachelor's degree. Any student interested in applying for institutional scholarships must complete the FAFSA even if they decline their federal student loans (declining your federal student loans does not reduce or eliminate your chance of obtaining an institutional scholarship).

The Cost of Attendance is a college’s official estimate of the total annual cost to attend for a full-time student. It includes DIRECT COSTS like tuition and fees. It also includes INDIRECT COSTS like books, transportation, and personal expenses. Both are then used to create your Cost of Attendance, which is then used to determine your financial aid eligibility. Total financial aid, including federal loans, private loans, state grants, and both internal and external scholarships cannot exceed the total cost of attendance per semester and for the academic year. The Office of Financial Aid reviews all awards to make sure that a student’s total financial aid does not exceed the cost of attendance. Any student registered for less than 12 credits will have their cost of attendance adjusted by the Office of Financial Aid.

DIRECT COSTS (what you will see on your tuition bill and what you must pay the school)

1. Tuition
2. Fees

INDIRECT COSTS (things you will pay out of pocket for – this may be more or less depending on your personal circumstances)

1. Room and Board – housing and food costs
2. Books and Supplies – textbooks, course materials, and necessary equipment
3. Transportation – travel to and from school
4. Miscellaneous – costs like clothing, entertainment, and personal expenses and care

To find the most current Cost of Attendance, please click on the link: Cost of Attendance 2025-2026

• FEDERAL STUDENT LOANS
  • Direct Subsidized loans are available to undergraduate students with financial need. The Department of Education pays the interest on a Direct Subsidized Loan 1) while you are in school at least half-time (6 or more credits); 2) for six months after you leave school (also known as a grace period); and 3) during any period of deferment (postponement of loan payments)
  • Direct Unsubsidized loans are available to undergraduate student; there is no requirement to demonstrate financial need. Students are responsible for paying the interest on this type of loan during all periods.
  • For more information, including loan eligibility and amounts, please visit the https://studentaid.gov/ website

• NY TAP GRANT
  • Our NY TAP Grant school code is 6445 under 4-year programs
  • This is a NY State Grant that is available to eligible NYS residents, who are enrolled in a full-time, part-time, or non-degree program.
  • Eligible students can receive up to $5,665 to help cover tuition expenses
  • NY HESC determines a student’s eligibility and amounts.
  • Students should complete the NY TAP application at the end of the FAFSA or on the HESC website
  • For more information, including eligibility requirements and application deadlines, please visit the NY HESC website at https://hesc.ny.gov/find-aid/nys-grants-scholarships/tuition-assistance-program-tap

• VETERANS BENEFITS
  • VA education benefits help Veterans, service members, and their qualified family members with needs like paying college tuition, finding the right school or training program, and getting career counseling.
  • Students must provide the Director of Financial Aid a copy of their DD214 as well as a copy of the Certificate of Eligibility. The Director of Financial Aid will then certify the student’s enrollment on the VA website.
  • The School accepts Chapter 33/Post 9/11 GI Bill, Chapter 35/Dependents’ Educational Assistance, and Vocational Rehab benefits
  • The VA will determine eligibility and award amounts

• INSTITUTIONAL SCHOLARSHIPS
  • Institutional scholarships are financial aid awards funded directly by the School. These awards are made available by generous donors and are awarded based on merit and/or financial need.
  • Admitted students will receive a link to the scholarship application via email.
  • All scholarship applications must be submitted prior to the established deadline date.
  • Students must complete a FAFSA in order to be eligible for a scholarship, even if the student does not intend to take out federal student loans
  • Scholarship amounts vary and are based on the availability of funds.
  • Scholarships are not guaranteed

• PRIVATE STUDENT LOANS
  • Private loans are credit-based loans, and a credit and income review will be required to determine your eligibility and ability to repay the loan.
  • Private loan eligibility, terms, including interest rates and fees, vary by lender
  • Fixed interest rate loans means that the interest rates remain the same for the life of the loan
  • Variable interest rate loans means that the interest rates can fluctuate month to month
  • Students must apply directly on the ELM SELECT WEBSITE, https://www.elmselect.com/v4/. Students are instructed to read all terms and conditions of each loan to determine which loan is best for them. PSON does not recommend any particular lender. Students can apply for a semester-only private loan or a combined fall/spring loan about one month prior to their payment deadline. Students should typically apply for the loan upon receipt of their billing statements.  

• Retention rate
• Graduation rate
• Annual fire safety report
• FVT/GE data link to ED website once available.
• Published length of the program in calendar time
• Total enrollment for most recently completed award year
• The total cost of tuition, fees, books, supplies, and equipment that a student would incur for completing within the published length of the program
• The percentage of enrolled students who received a Direct Loan, a private loan, or both for most recently completed award year
• The median loan debt of students who completed or withdrew from the program during the most recently completed award year
• The median earnings of students who completed or withdrew from the program during the most recently completed award year (provided by another federal agency)
• Whether the program is programmatically accredited and the name of the accrediting agency.
• The programs D/E rates
• The programs EP measure

The Department of Education, through CPS, will randomly select FAFSA’s for a process called verification. This process requires that students confirm, or verify, the information they provided on the FAFSA by completing various documents. Students that are selected for verification will be notified via email and will be sent the required verification documents for completion. Students are given two weeks to submit all requested documentation. However, exceptions can be made on a case-by-case basis.

The Office of Financial Aid has the right to ask for additional information if they have reason to believe that the information is incorrect or conflicts with what was reported on the FAFSA. It is the goal of the Office of Financial Aid to have all students' complete verification prior to class start. That is not always the case. However, the Office of Financial Aid will not disburse any aid, including scholarships, parent PLUS loans, and/or private loans until such time that verification is complete. This is to avoid any adjustments to aid and possible return of funds, should verification result in a reduction in a student’s eligibility.  

All verification forms will be emailed to students who are selected for verification and are readily available upon request

• All accepted students will receive a financial aid award letter if the Office of Financial Aid has the most recently completed FAFSA on file.
• Each FAFSA is reviewed for verification and eligibility prior to award letters being emailed.
• All students receive the maximum loan amount they are eligible for; therefore, loan amounts cannot be adjusted. However, students who have questions regarding loan amounts and eligibility are encouraged to reach out to the Office of Financial Aid,
• Students will have two weeks to either ACCEPT or DECLINE all estimated financial aid.
  • If a student ACCEPTS their federal student loans, they must complete the Entrance Counseling for Undergraduate Students on the https://studentaid.gov/entrance-counseling website as well as the Master Promissory Note for Undergraduate Students on the https://studentaid.gov/mpn/

• For the school to receive federal student loan funds, students must:
  • 1) ACCEPT their loans in the student portal;
  • 2) Complete the Entrance Counseling;
  • 3) Complete the Master Promissory Note;
  • 4) Submit all required documents, if needed.
• Students will receive a disbursement notice via email prior to the disbursement date, advising them to make any changes to their loans and to submit all necessary documents. The disbursement notice is sent two weeks prior to the scheduled disbursement date. All students have until 3 days prior to the start of each semester to accept, decline, or make any award adjustments. Once loans are disbursed, students will not be able to make any changes.
• Federal student loans are disbursed on the first day of the semester and as necessary throughout the course of the semester.

** Students whose tuition bills reflect a credit balance (refund) prior to the start of the semester will be able to receive a book voucher for no more than the cost of the actual books for their semester. The School will identify students who are eligible and they will be emailed a Title IV Authorization form that must be completed and submit it prior to the deadline date. These students will then receive a book voucher within the first 7 days of the start of the semester to  assist them in purchasing their textbooks. Students who do not have a credit balance (refund) reflected on their account are not eligible. Students who fail to return the Title IV Authorization form prior to the due date are not eligible.

Satisfactory Academic Progress (SAP) is a requirement for all students receiving federal, state or institutional scholarships while enrolled at Mount Sinai Phillips School of Nursing. Federal financial aid recipients must meet all federal requirements, including maintaining a 2.0 GPA AND completing the program within the maximum timeframe, to remain eligible to receive federal, state, and institutional aid.  While the Federal regulations require a 2.0 GPA, the School has its own GPA requirements that must be met. Please refer to the School Catalog for more information. The School’s GPA requirements have priority over the federal requirements for SAP.

Academic progress is measured at the end of each semester and includes all terms of enrollment. Your entire academic record is included in the determination of satisfactory academic progress. Students who are not meeting satisfactory academic progress requirements at the end of each term will be placed on financial aid warning. Students on financial aid warning status will receive federal, state, and institutional aid for 1 semester after not meeting SAP. At the end of that subsequent semester, SAP will be recalculated to determine if a student meets all requirements. If a student fails to meet SAP in that semester, then the student will lose eligibility of all federal, state, and institutional aid. It is the responsibility of the student to make alternative arrangements to finance their education should the student not make satisfactory academic progress. The student may choose to set up a monthly payment plan, or the student may choose to apply for a private loan during this period. Please be advised that not all private loan lenders lend to students who are not making satisfactory academic progress. Students should contact the Office of Financial Aid for full details of this standard.   

Students who have unique circumstances must appeal their situation to the Office of Financial Aid after submitting their FAFSA. Special circumstances on the FAFSA refer to things such as financial hardships and/or family status changes that impact FAFSA reporting elements. If you are uncertain as to whether or not your situation is considered a special circumstance, please email the Office of Financial Aid for guidance.

Students who may want the Office of Financial Aid to review their income for a professional judgment/override to their FAFSA information must email the request to the Office of Financial Aid at finaid@pson.edu. At that time, the request for specific information will be sent to the student. Upon receipt, the Office of Financial Aid will review, oftentimes asking for more clarification or supporting documents, and decide. Not all reviews are approved. As a non-Pell program, many income-based professional judgments will not yield different financial aid results. However, the Office of Financial Aid will review all requests and advise students of the outcome.  

Students who may want a Dependency Override (removal of the need for parent information on the FAFSA) must provide the Office of Financial Aid: 

1. A written request for the override 
2. A hand-signed letter describing the situation 
3. Three letters from outside sources describingthe situation. One letter must be from a professional person (Clergy, Counselor, Teacher, etc.), two letters can be from others including family and friends. All letters must be hand-signed and provide contact information 
4. A hand-signed letter from the parents (if applicable and if possible) 
5. Supporting documentation such as police reports, etc.  

All requests are reviewed by the Director of Financial Aid. If the Dependency Override is approved, the Director of Financial Aid will make the necessary changes to the FAFSA and to the student's financial aid package. Not all requests will be approved.  

Title IV (federal student loans) funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, or is dismissed, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive.  

If a recipient of Title IV grant or loan funds withdraws from a school after beginning attendance, the school must perform an R2T4 calculation to determine the amount of Title IV assistance earned by the student. If the amount disbursed to the student is greater than the amount the student earned, the unearned funds must be returned. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, he or she is eligible to receive a post- withdrawal disbursement of the earned aid that was not received.  

Because a student begins earning Title IV funds on the first day of attendance, even if the student withdraws before a school’s census date, the school must perform an R2T4 calculation using the number of days or the number of scheduled clock hours the student attended class. The school must include in the R2T4 calculation all forms of Title IV aid that were disbursed or that could have been disbursed, even if the student receives a full tuition refund.  

A school is required to determine the earned and unearned portions of Title IV aid as of the date the student ceased attendance based on the amount of time the student spent in attendance. Up through the 60% point in each payment period or period of enrollment, a pro rata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60% point in the payment period or period of enrollment, a student has earned 100% of the Title IV funds the student was scheduled to receive during the period.   

Please be advised that if a student receives federal student loans and takes a leave of absence, they must return within 180 days in order to remain eligible for any disbursed federal student loans. If a student does not return within the 180 days, the school will perform a Return to Title IV calculation (See RETURN TO TITLE IV (Return of Federal Student Loans) above). Students will be responsible for any outstanding tuition balances that result from not returning from a leave of absence.

To learn more, visit our Student Handbook.

This net price calculator is intended to provide an estimate of your potential financial aid package at Mount Sinai Phillips School of Nursing. Note: This estimator does not take the place of applying for financial aid.

Applicants must correctly follow the Nursing School’s financial aid application process and meet the published deadlines to be considered for financial aid. Note that costs and financial aid estimates are subject to change. The results of this estimator are not actual offers of aid and may be substantially different from the official aid offered by Mount Sinai Phillips School of Nursing.

The Nursing School may not be held liable for any errors, omissions, or damages. The estimated awards provided by this reference tool are based upon the assumption that the student will complete the FAFSA accurately, and all other data entered are true at the time of the estimate.

Note: Any information that you provide on this site is confidential. The Net Price Calculator does not store your responses or ask for personal identifying information of any kind. A variety of calculators are available at https://finaid.org/calculators/

Financial literacy is a critical life skill that empowers students to make informed and confident decisions about their money. From managing everyday expenses to understanding credit, loans, and long-term financial planning, having a strong financial foundation helps students avoid costly mistakes and build a sense of independence. As many students begin to navigate financial responsibilities for the first time—such as paying for college, budgeting, or borrowing student loans—financial literacy becomes essential to their overall success both during and after their academic journey.

By developing financial literacy early, students are better prepared to set realistic goals, manage debt responsibly, and create sustainable habits that support long-term stability. Understanding how to budget, save, and use credit wisely not only reduces financial stress but also opens the door to greater opportunities in the future. Simply put, financial literacy equips students with the tools they need to take control of their financial future rather than react to it.

The PSON Office of Financial Aid supports financial literacy and empowering our students.

Financial Literacy Resources:

• ABLE National Resource Center
• Bank of America Better Money Habits
• The USAA Educational Foundation SMART Savings Worksheet
• The USAA Educational Foundation Build Your Budget Worksheet

• ACCREDITATION
• STAFF AND AVAILABILITY
• RETENTION RATE
• COMPLETION RATES
• GRADUATION RATES
• LICENSURE – STUDENT HANDBOOK PAGE 42
• FERPA
• FINANCIAL AID RIGHTS AND RESPONSIBILITIES
  • Financial aid awards assume that all financial aid applications are correct. Students agree to inform the Office of Financial Aid if any of the assumptions are inaccurate or if any changes occur during the academic year immediately, so that any applicable adjustments may be made. Failure to notify the Office of Financial Aid of such changes in a timely manner can result in delays or returns of funds. This includes notifying the Office of Financial Aid of any additional educational funds received from outside sources so that financial aid awards may be adjusted accordingly. Students understand that their financial aid award will not be disbursed until all document requirements are satisfied.
  • For additional Federal Financial Aid Rights and Responsibilities, please visit the https://studentaid.gov/app/viewCounselingHtml.action?version=10&type=subunsub
• CAMPUS SECURITY / CLERY ACT INFORMATION
  (click on GET DATA FOR ONE SCHOOL and enter MOUNT SINAI PHILLIPS SCHOOL OF NURSING)
• ANNUAL FIRE SAFETY REPORT
• DRUG AND ALCOHOL POLICY
• TITLE IX POLICY
• SCHOOL CATALOG
• VOTER REGISTRATION LINK
• STUDENT HANDBOOK

• FEDERAL STUDENT AID
• MASTER PROMISSORY NOTE FOR UNDERGRADUATE STUDENTS
• ENTRANCE COUNSELING FOR UNDERGRADUATE STUDENTS
• PLUS LOAN APPLICATION (I AM A PARENT OF A STUDENT)
• PLUS LOAN MPN (I AM A PARENT OF A STUDENT)
• EXIT COUNSELING FOR UNDERGRADUATE STUDENTS
• NET PRICE CALCULATOR
• EXTERNAL SCHOLARSHIPS - The Mount Sinai Phillips School of Nursing does not recommend or endorse any particular external scholarship website, company, or opportunity.
• SALLIE MAE
• FAST WEB
• US DEPT. OF LABOR

Tuition bills are emailed to students prior to the beginning of each semester. Unless a payment plan is in place, all appropriate tuition and fees are expected to be paid in full prior to the beginning of each semester. Tuition and all other fees are to be paid at the Office of Financial Services on the main floor. Student invoices are available to view online on the Mount Sinai Phillips School of Nursing Student Portal. The following steps can be taken to access the invoice online:

1. Click Financials tab
2. Click Billing Detail Summary link

Students can submit payments using the following methods:

1. Credit Card - Visit the Billing Detail Summary, under the Financials tab, on your Mount Sinai Phillips School of Nursing Student Portal. Modify payment amount, if necessary. Click on Submit Payment.
2. Check or Money Order made payable to Mount Sinai Phillips School of Nursing and mail to:
   Mount Sinai Phillips School of Nursing
   148 East 126th Street
   New York, New York 10035

Mount Sinai Phillips School of Nursing does not accept cash as a form of payment. Any fees associated with returned checks will be applied to the relevant student account. A late fee of $100.00 is charged to and an administrative hold is placed on the student account for bills not paid on or before the due date of the bill.

The recommended option to pay for any direct expenses (tuition, fees, etc.), is to utilize the Mount Sinai Phillips School of Nursing Student Portal.

1. Full payment: This is the regular and preferred payment option with all tuition and fees paid prior to the start of the program.
2. Deferred Payment Plan: Deferred payment arrangements must be made with the Bursar’s Office one week prior to the start of classes. A one-time fee of $25 is charged to set up a deferred payment plan. A $50 late fee is charged for EACH installment paid after the due date.
3. A minimum payment of at least one third of tuition and fees is required on or before the start of classes. The tuition balance will be deferred if a payment plan has been established.

All financial aid paperwork, including loan applications, must be approved before the start of each semester. If financial aid does not cover the tuition charges in full, the student may combine above options to complete the payment obligation.

Cancellation of Classes for Non-Payment

In accordance with state law, payment for tuition and fees is due prior to the start of the term. Students registering in the billing period must pay tuition and fees or defer their bill by signing a Deferred Payment Agreement with the Bursar’s Office on the Main Floor. Accounts not paid, or not deferred by the due date, may result in cancellation of registration and may impact a student’s progression with the program. Past due prior term balances cannot be deferred or paid with financial aid for future terms.

Students whose schedules are canceled may find it difficult or impossible to re-register for the same courses because their seats may have been taken by students on wait lists. Students who register after the billing period and students who have been cancelled, who were originally registered during the early registration process, must pay estimated tuition and fees or provide proof that they are financial aid recipients prior to being able to access registration.

Refunds Checks

Financial Aid Refunds: Refunds of credit balances caused by financial aid exceeding student account charges will be refunded to the student by check. When the refund check is ready at the Office, an email notification will be sent to the student to pick up any refunds at the Bursar’s Office. Refund checks cannot be disbursed until the first day of classes for the semester. Once the semester has begun, refund checks are usually available for students to pick up at the Office of Financial Services within approximately 10 to 14 business days after the aid is placed on the student account.

Parent Plus Loans: Refunds of credit balances caused by Parent PLUS Loans exceeding student account charges will be refunded to the parent by check mailed to the address provided by the parent. If the student wishes to pick-up the Parent PLUS Loan refund check, the borrower must notify the Bursar’s Office in writing.

Non-Financial Aid Refunds: If a student account has a credit balance for reasons other than financial aid, the refund will not be generated until after the Add/Drop period for the semester. This includes overpayments where personal payments combined with financial aid exceed the balance, credit balances due to dropped classes, and other overpayments.

In most cases, credit balances are refunded directly to the student. However, some exceptions apply, for example when the credit is due to a potential over-award of financial aid, the credit may be held until the Scholarship Committee has reviewed the account. If financial aid is determined to exceed the federal definition of need, the over-award will be refunded to the appropriate financial aid fund. In the case of posting errors, the Office of Financial Services will reverse the error.

Tuition Liability Schedule for Fall, Spring, and Summer Semesters:

• Week 1 and/or prior - 100 percent refund (no charge)
• Week 2 - refund tuition only, no fees (charge all fees only)
• Week 3 - 70 percent refund (charge 30 percent)
• Week 4 - 50 percent refund (charge 50 percent)
• Week 5- 0 (full charge)