Navigating Your Finances at Cornell University: A Comprehensive Guide to the Bursar's Office and CornellCard

Cornell University provides comprehensive resources to assist students and parents in managing their finances. The Bursar's Office plays a central role in billing, payments, and refunds, while the CornellCard offers a convenient way to make on-campus purchases. This guide provides detailed information about Bursar procedures, the CornellCard, payment methods, financial aid, and other essential aspects of managing your student account.

Bursar Procedures

The Office of the Bursar serves as the central billing agent for Cornell University. Each year, students and parents receive detailed information regarding Bursar and CornellCard accounts, current semester tuition, billing due dates, and relevant procedures for managing student accounts.

About Tuition Rates and Fees

Current tuition rates and fees are available on the Tuition Rates and Fees page. It's important to note that Cornell does not calculate tuition charges based on a cost per credit hour basis, except for the Military Tuition Assistance Program, where Cost Per Credit Hour Rates (PDF) are posted for eligible academic programs to meet Department of Defense requirements.

The Bursar E-Bill

Cornell students receive monthly billing statements electronically via Cashnet, referred to as e-bills. These statements consolidate charges for both the bursar account and the CornellCard account. Charges and credits are updated as they arise. The current billing schedule is available on the Billing Due Dates page.

Tuition, housing, and dining charges constitute the majority of expenses billed through the bursar account and are typically billed before each semester. Additional charges that may appear on the e-bill include extramural study or summer session courses, medical care at Cornell Health, physical education course fees, testing fees, campus traffic fines, and library fines. CornellCard transactions are listed separately on the e-bill.

Read also: Immersive Pre-College Experience

Setting Up Other Users/Payers

The Office of the Bursar conducts all business directly with the student. However, students can grant access to their bursar e-bill to parents or other users/payers (excluding sponsors) through Cashnet. It is the student's responsibility to set up these individuals as authorized payers.

Your E-Bill or Current Statement

Students can review current transactions on their bursar account in Cashnet under "Activity Details" before the next billing date.

Finance Charges

Payment must be received by the due date reflected on the e-bill. Unpaid balances are subject to a finance charge of 1.25% per month (15% annually). While the Bursar typically does not cancel finance charges resulting from late payments, exceptions may be made if Cornell caused a delay in delivering funds, such as late processing of payments or financial aid.

Fraternity and Sorority Billing

Charges related to fraternity or sorority activities are billed by Cornell University as a courtesy. However, it's crucial to remember that Cornell does not own, control, or supervise fraternities and sororities, which remain independent legal entities responsible for their own actions and obligations.

About New York State Residency

Residency status is determined by the college admissions office upon admission. Changes in residency status after matriculation are determined by the university bursar. The deadline for fall semester applications is June 1, and for spring semester, it is November 1.

Read also: Cornell University Semester Guide

Student Health Insurance

Cornell University mandates that all full-time registered students have health insurance coverage due to the high cost of medical care. The Student Health Plan (SHP) offers comprehensive coverage at a reasonable cost for most on- or off-campus medical care.

Enrollment and Holds

Students with outstanding debts to the university will not be allowed to enroll in classes, have academic credits certified, or have a degree conferred. All balances due on the bursar and/or CornellCard must be paid in full before a student can enroll for a future term. The university’s policy prohibits using current-semester financial aid to pay prior-semester charges.

Understanding Your E-Bill: Key Information

The July and January bursar e-bills may include:

Charges remaining from the prior month
Current semester charges and credits
Financial aid included in the aid package but not yet disbursed ("pending credits")
Cornell Installment Plan (CIP) credits (if applicable)
CornellCard balance due

"Pending credit" refers to financial aid that has been included in the student's financial aid package but not yet disbursed. These pending credits may be removed during the semester, requiring students to contact the appropriate financial aid office to resolve any pending issues. Work-study awards will not be deducted from your balance.

Payment Methods

Cornell University offers various payment methods for student accounts:

Read also: Architecture of Donlon Hall

Electronically via Cashnet: This online platform allows secure web-based electronic payments using an electronic interface with your bank.
By Wire: International payments can be transferred online.
Checks or Money Orders: Must be in U.S. dollars, drawn on a U.S. bank, and made payable to Cornell University. Postdated checks and credit cards are not accepted.

For details on checks or electronic transactions returned by your bank for any reason, refer to the Returned Payment Policy page. Note that returned checks will not be redeposited and must be replaced by a certified check or money order. Payments returned via Cashnet are also not redeposited.

The Cornell Installment Plan (CIP)

The Cornell Installment Plan (CIP), administered by Cashnet, provides a monthly tuition payment option. This plan allows students and families to pay each semester's tuition and expenses in monthly installments. Enrollment completed by the deadline will result in the semester credit for CIP appearing on the July and January bursar e-bills.

Financial Aid and Loans

Cornell University provides financial aid and loan options to assist students in funding their education.

Undergraduates

All questions about financial aid should be directed to Financial Aid, 203 Day Hall.

For federal Perkins Loans and Cornell University Loans, first-time borrowers must sign a Master Promissory Note (MPN) before the funds can be disbursed to the bursar account. Students can apply for alternative loans online through their lender of choice. Funds will be credited to the student’s bursar account once the loan is approved and a promissory note has been signed.

Students receiving New York State Tuition Assistance Program (TAP) awards need to file the Free Application for Federal Student Aid (FAFSA). The student and parent will then apply for TAP online. In some cases, HESC processes TAP applications based on FAFSA data alone, without requiring further application data.

Outside scholarship checks from corporations, private parties, or foundations should be sent directly to the Office of Financial Aid and Student Employment (P. O. Box 752, Ithaca NY 14851-0752). Financial Aid staff will deposit these checks and credit them to the student’s bursar account.

If financial aid credits from grants, loans, or scholarships result in an overpayment to the bursar account, a refund may be direct deposited to the student’s bank account.

If your e-bill has "pending credits" (pending financial aid) showing for the fall and spring term, these pending credits may be removed from the e-bill in October (for fall) and April (for spring). After this happens, please contact the undergraduate Office of Financial Aid at (607) 255-5145 to find out why the aid has not been posted to your bursar account.

Graduate Students

Most financial aid disbursements for graduate students appear on the bursar e-bills in July, August, or September (for the fall semester) and January (for the spring semester). If they do not, contact the director of graduate studies for your field.

If your e-bill has "pending credits" (pending financial aid) showing for the fall and spring term, these pending credits may be removed from the e-bill in October (for fall) and April (for spring).

Refunds

The Office of the Bursar conducts all its business directly with the student. Just as monthly charges are listed in the student’s name, so are any awards, grants, scholarships, and student loans that might produce a refund. For questions on how this may impact your financial aid package, please consult with your Financial Aid Office.

When you receive a refund check, look at your e-bill carefully. Be sure that the e-bill reflects all charges for which you are receiving aid, as well as anticipated adjustments in Cornell aid. If, for example, you have not yet been billed for dining and your aid is supposed to pay for dining, your refund check will contain money that should be used to pay for your dining once the charge appears on your e-bill. You cannot subsequently receive additional financial aid to cover that charge.

The Office of the Bursar reserves the right to withhold any refund check when the student has a bursar/CornellCard or Cornell Installment Plan (CIP) balance. Cornell is authorized to offset any credit balances against any debts owed by the student to the university.

Electronic Refunds

The primary method for student refunds/stipends through the Bursar’s office is via direct deposit to the student’s checking or savings account. Students will enter their banking information through the secure Cornell Nelnet system. Note: The student must be the primary holder of the checking or savings account.

Due to federal regulation changes, you may receive a refund but have a prior-term balance that needs to be paid. Please check your Student Center or contact our office to confirm your balance. For answers to frequently asked questions regarding Title IV aid, please visit: Title IV Aid FAQs | Office of the Bursar or contact your Financial Aid Office.

Other Credits

Credit balances on your e-bill that are not related to financial aid will result in a refund only if you request one from the Office of the Bursar. Credit balances due to overpayment by check or ACH transactions cannot be refunded for ten business days to assure clearance of funds received. If no refund is requested, the credit balance is automatically applied to the next month’s charges. Therefore, a credit balance on one month’s e-bill may be entirely used up in the following month.

Deposits

Cornell undergraduates make a single deposit to the university: the acceptance deposit. Acceptance deposits will be applied to the student's bursar account during their first semester at Cornell.

CornellCard

The CornellCard offers a convenient way for full-time Cornell students to make purchases at various locations on campus.

Privileges

All full-time Cornell students are encouraged to take advantage of CornellCard's privileges. The CornellCard allows you to make purchases at the Campus Store and other participating units across campus. The CornellCard can help you manage your day-to-day expenses without having to carry alternative payment methods.

The university ID card also functions as the CornellCard. Students can use their CornellCard privileges during any semester for which they are enrolled full-time.

The CornellCard is valid at several locations on campus, including the Campus Store, all Cornell dining facilities, and Temple of Zeus.

CornellCard accounts can incur a debit balance of up to $1500. Students can use their CornellCard privileges during any semester for which they are enrolled full-time.

Limitations

The CornellCard is nontransferable and can be used only at designated units on campus. Any CornellCard or similar device issued by Cornell remains the property of the university and may be revoked without notice and repossessed at any time.

Application

To apply for CornellCard privileges, complete an application online.

Additional Information

Cashnet: Pay your Bursar and CornellCard bills electronically with Cashnet! If you are new to Cashnet, see the Cashnet Login Instructions page. Learn more on the About Cashnet page.
- Student Cashnet Login
- Other User/Payer Login
- You might not be able to access Cashnet without a supported browser. What browsers are supported for accessing Cashnet?
- Students! Adding your parents or other payers to your Cashnet account grants them permission to pay your bills on your behalf and to view and ask detailed questions about your bursar and CornellCard accounts.
- Notes:
  - Payments normally post to the student's account quickly, within minutes. During busy times, however, payments may post the following business day.
  - Payments submitted online after the bill's due date will be considered late.
Please make checks or money orders payable to "Cornell University," and indicate how the payment amount should be applied to each account (Bursar and CornellCard). As a general rule, our office does not accept third-party checks. The Office of the Bursar does not accept credit card payments. We do, however, accept personal checks and money orders.
Cashnet, as an independent third-party servicer, accepts credit card payments for the Full Service Payment Plan (FSPP). Cashnet charges a non-refundable convenience fee of 2.85% of the amount charged for domestic and 4.25% for international credit card payments. Domestic credit card payments between $20.00 and $106.00 will have a convenience fee of $3.00. Cornell does not charge the convenience fee or receive any part of the fee. The fee is paid in full to and retained by Cashnet.
Charges billed on the March 13th e-bill are due by April 7th. Charges billed on the February 13th e-bill are due by March 7th. Your balance, including CornellCard charges, must be paid in full to prevent finance charges and past-due holds.
Flywire offers excellent foreign exchange rates, allowing international students to pay in their home currency (in most cases) and save a significant amount of money.
To enroll in direct deposit for bursar refunds, please log into Nelnet and provide your US banking account details.
To arrange a time to pick up your refund check or to discuss your account virtually, please schedule a Chatter appointment with our office!
This optional plan is designed to protect you from the loss of tuition should you find it necessary to withdraw from the university due to a medical issue.

Your Billing Rights

Understanding your billing rights is crucial for managing your student account effectively. Be sure to familiarize yourself with Cornell University's policies and procedures regarding billing, payments, and refunds.

tags: #Cornell #University #Bursar's #Office #information