Navigating Student Account Services: A Comprehensive Guide

For students pursuing higher education, understanding student account services is crucial for managing tuition, financial aid, and other related financial aspects. This article provides a detailed overview of student account services, covering key areas such as tuition and fees, payment options, financial aid disbursement, refunds, and important policies.

Student Financial Services Overview

Student Financial Services often encompasses the offices of Financial Aid and Student Accounts. These offices can answer questions about tuition, financial aid, student refunds, book vouchers, Veterans Benefits / GI Bill (R), federal work study and scholarships.

Understanding Tuition and Fees

Calculation and Charges

Student Accounts is responsible for calculating tuition and fees accurately and collecting them promptly. Tuition and fee charges are based on the program and the number of credits a student registers for. Registering for classes obligates the student for payment of applicable tuition, fees, and other charges. Students are expected to register before the term begins, follow the course curriculum outlined in their programs, and pay tuition plus applicable fees each term they are enrolled.

Viewing Your Bill

Individualized tuition bills are not forwarded to students. Once registration is completed, students can view their itemized registration costs online. After submitting the registration, students should proceed online to remit any necessary payment. Financial aid recipients should only pay the balance not covered by their finalized net aid offer.

Tuition Reimbursement

In most cases, tuition reimbursement from employers is not an acceptable financing option. Tuition fees are charged per credit or by the term, and programs may charge program-specific fees. In addition to program fees, there are fees established at the university level.

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Payment Options and Plans

Monthly Installment Payment Plan

Students can request to utilize an interest-free monthly installment payment plan to pay all or a portion of registration costs during a term. Payments are spread over the course of the current term. To utilize this plan, a payment plan authorization form must be submitted to the Student Accounts Department.

Payment Deadlines and Third-Party Payors

It is the policy that all tuition/fee costs be paid in full by the Tuition Payment Deadline for each term. However, if a Third Party Payor has agreed to pay all or a portion of the student’s tuition and fees, payment of the covered tuition/fee costs may be deferred. The amount that is the responsibility of the Third Party and what remains the student responsibility. Third Party reimbursement is accepted only if the payments are made directly to the university in a timely manner.

International Student Payments

For international students, many institutions partner with services like PayMyTuition for international tuition payments. With these services, students can make payments from any bank - in any country - in any currency.

Financial Aid Disbursement and Refunds

Loan Disbursements

All Federal Direct loans are disbursed early in the term, and any institutional grants and scholarships are disbursed after the Add/Drop deadline. Students will receive notification of loans disbursed on their account. Once loans are disbursed, refunds of excess funds are subsequently processed and remitted to the student.

Impact of Registration Changes

Any registration change, such as dropping or adding a course, or withdrawing from the term, can have a financial impact on aid offered and/or refunds issued.

Direct Deposit for Refunds

Many universities offer direct deposit of student refunds for the safest, fastest access for financial aid and other refunds. Students are expected to receive their refund in this format, and it is their responsibility to maintain up-to-date bank account information.

Tax Benefits and Health Insurance

Educational Tax Credits

Students may be able to reduce their tax liability if they can claim educational tax credits, such as the Hope or Lifetime Learning tax credits established by the Taxpayer Relief Act of 1997, thereby further reducing their cost of attendance. Students can often go online and elect to receive their 1098-T Tuition Statement electronically. Note that Student Accounts cannot provide tax advice.

Health Insurance

Universities typically do not provide health insurance for students.

Collection of Past Due Balances

Universities will use all reasonable and customary means to collect past due balances on student accounts. They may withhold diplomas and/or prohibit registration for any student with a past due balance.

Veteran Benefits

Veterans should forward a current Certificate of Eligibility or Statement of Benefits and their DD214 form (obtained online from the US Department of Veterans Affairs at va.gov) to the School Certifying Official at their campus. Department of Veteran Affairs. Department of Veterans Affairs (VA) Post 9/11 G.I. Bill (Ch. 33) or Vocational Rehabilitation and Employment (Ch. 31) benefits, while payment to the institution is pending from the VA.

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Financial Aid Services

Universities offer a full range of financial aid services to help students who need financial assistance in order to pursue their studies. Students receive assistance in the form of grants, scholarships, student loans and part-time employment. Funds are available from federal and state sources, private sponsors, and University resources. Most financial aid offers are based on the applicant’s demonstration of need.

Student and Family Responsibility

One of the fundamental principles of financial aid is that the student and their family have the primary responsibility to pay for the cost of their education, to the extent of their ability. Therefore, students are asked to contribute a portion of their resources to pay the costs of tuition, fees, books, supplies, and living expenses.

Eligibility Requirements

To be eligible for financial aid, students must be enrolled at least half time as a regular student working towards a degree or certificate in an eligible program.

Federal Financial Aid Programs

Universities participate in all Title IV federal financial aid programs: Pell Grants, Supplemental Educational Opportunity Grants (SEOG), Teacher Education Assistance for College and Higher Education Grants (TEACH), Direct Student Loans (both subsidized and unsubsidized), Parent PLUS and Graduate PLUS Loans, and Work-Study. The Free Application for Federal Student Aid (FAFSA) is the application that must be completed annually to be considered for federal aid.

Entitlement vs. Campus-Based Aid

Pell Grants and Federal Direct Subsidized and Unsubsidized Loans are entitlement programs: if the student applies for and meets the eligibility criteria, they will receive the aid. SEOG and Federal Work-Study are called “campus-based aid”. Universities receive an annual allocation of funds in each of these programs and it is divided among campuses and programs based on enrollment. Students are offered campus-based aid according to specific rules, and on a first-come, first-served basis.

State Grant Programs

Campuses in certain states participate in their respective state grant programs. Application processes vary by state, as do amounts and eligibility criteria.

Private Aid Opportunities

Private organizations and companies offer aid opportunities including loans and grants and scholarships. These benefits are designed to assist veterans and their dependents in reaching their educational goals. Universities are approved as institutions for higher learning for veterans and veterans’ dependents entitled to educational assistance.

Disbursement of Aid

All federal and institutional funds are disbursed on a quarterly or semester basis, and are posted directly to the individual’s student account. Notification of disbursement is provided by the Student Accounts office. All other aid sources are typically credited to a student’s account after the Add/Drop period. The institution will not disburse any aid to a student who has not yet registered for classes for that payment period. The responsibility for confirming a student’s registration for classes before disbursement rests in the FAO.

Satisfactory Academic Progress (SAP)

Federal regulations require that universities establish and apply reasonable standards of Satisfactory Academic Progress (SAP) for the purpose of authorizing receipt of financial aid under the programs authorized by Title IV of the Higher Education Act. The University Registrar’s office reviews student records each term to verify that students are maintaining a satisfactory rate of progress toward completion of their degree.

Evaluation Criteria

Students are evaluated on the basis of the completion rate for units for which they are officially registered. In calculating the rate of academic progress, units completed are compared to units attempted on a per term basis, as well as on a cumulative basis (PACE). Units attempted are defined as the total number of units for which a student was officially enrolled on or after the end of the Add/Drop period. Students must meet minimum credit standards to satisfy the Satisfactory Academic Progress policy.

SAP Warning and Appeals

In addition to receiving written notification from the Office of the University Registrar of SAP Warning, students receiving Title IV federal aid will receive a Financial Aid Warning letter from the FAO, with an explanation of the consequences of not meeting the SAP Warning requirements. The student must submit a written appeal petition to the unit head of the student’s academic program within 5 business days of receiving notification of recommendation for withdrawal. The academic unit head or campus appeal committee, if one is established, will review the appeal petition within five business days of receipt and the student, the Registrar, and the Financial Aid office will be notified of the decision.

Maximum Time Frame

Title IV eligibility will also be lost if the student reaches the maximum time frame allowed for completion of their program of study. The Office of the University Registrar will determine if it is possible for a student to meet minimum credit standards within the maximum time allowed to complete the program.

Re-Establishing Eligibility

If a student seeks to re-establish eligibility for financial aid, they may do so by achieving minimum SAP standards, thereby removing them from Probation. If the student wishes to continue attempting to meet the minimum credit standards by attending classes, payment arrangements would need to be made with the Student Accounts office.

Leave of Absence

Students on Leave of Absence, either by choice, failure to register, or as required by an academic department, will not receive financial aid during the leave. If a loan is disbursed before students go on leave, students are responsible for refunding that money to the lender (the federal government).

Return of Title IV Funds

Applicability

Students who receive federal financial aid (in the form of a Pell Grant, Supplemental Educational Opportunity Grant, Teacher Education Assistance for College and Higher Education Grant, Direct Stafford, Parent PLUS, and Grad PLUS) and withdraw from their classes are subject to the Federal Return of Title IV Funds policy.

Federal Regulations

Federal financial aid regulations have defined that a student who withdraws or stops attending prior to completing 60% of a term has not earned 100% of the federal financial aid that was received. After grades are posted for the semester, if a student has received non-passing grades due to insufficient attendance, attendance data is requested from the professor of the course to determine the last date of attendance or last date of academic engagement. If dates are not reported by the professor, 50% midpoint date is used. If it is found that the student stopped attending prior to 60% of the term, the R2T4 process is run based on the determined date to calculate the unearned portion of aid.

Calculation of Return Amount

Return of Title IV Funds are calculated using the federally-defined payment period. For standard credit hour programs, the payment period is the academic term. The percentage of Title IV aid to be returned is equal to the number of calendar days remaining in the term divided by the total number of calendar days in the term. Scheduled breaks of more than four consecutive days are excluded.

University and Student Responsibilities

The university is required to return the amount of unearned aid. The student is required to return the difference between the amount of unearned aid and the amount returned by the university. The student will be billed for the amount the student owes the University resulting from the return of Title IV funds used to cover University charges. If the student (or parent in the case of a Parent PLUS loan) is required to return a portion or all of their loan proceeds, the calculated amount is to be repaid according to the loan’s terms.

Post-Withdrawal Loan Disbursement

The university will offer the student any eligible post-withdrawal loan disbursement within 30 days of the student’s last date of attendance and disburse any loan funds the student accepts within 180 days of the student’s last date of attendance.

Impact on Outside and Institutional Aid

Outside aid will be reduced by the unearned percentage, but not to create a balance owing on the student’s account. Institutional aid will be reduced by the unearned percentage multiplied by the aid program’s percentage of aid as compared to total aid, but not to create a debt balance.

1098-T Tuition Statement

What is a 1098-T?

The IRS Form 1098-T Tuition Statement is used to assist the taxpayer in determining eligibility for certain education tax credits. These benefits may allow taxpayers to reduce their federal income tax based upon qualified tuition and fees paid, assuming the taxpayer meets all requirements in the Taxpayer Relief Act of 1997 (TRA97). There is no IRS requirement to claim an education tax credit, and taxpayers are not required to attach the 1098-T form to their return. For detailed information regarding these credits please consult IRS Publication 970 Tax Benefits for Education.

What is reported on the 1098-T?

Your 1098-T reports Qualified Tuition and Related Expenses (QTRE) paid to Samuel Merritt University in Box 1. Generally, this amount includes amounts paid during the tax year for tuition and related expenses that are required for enrollment at Samuel Merritt University.

Understanding the Boxes

Box 1: This box contains the amount paid for Qualified Tuition and Related Expenses (QTRE) during the previous calendar year. Payments include scholarships and grants, except for scholarships and grants for room and board, loans, AmeriCorps payments, and personal payments. Refunds received from any of these types of payments have been excluded from the total. Employer-based tuition discounts and staff tuition waivers are not considered scholarships or grants; instead, the amount of the discount or waiver is used to reduce the amount billed for the calendar year. The amount paid cannot exceed the QTRE amount billed for the calendar year. The amount billed was calculated separately and does not appear on the 1098-T. If the amount paid exceeded the amount billed, the amount billed is reported in Box 1.
Box 4: Reports adjustments made to qualified tuition and related expenses reported on a prior year Form 1098-T in Box 1. The amount reported in Box 4 represents a reduction in tuition billed during a prior calendar year. The amount reported in Box 4 for adjustments to qualified tuition and related expenses may reduce any allowable education credit you may claim for the prior year.
Box 5: All scholarships and grants received in the calendar year. This includes university scholarships and grants, outside scholarships, state and federal grants, scholarships and grants, vocational rehab payments, and VA benefit payments.
Box 6: Adjustments to scholarships or grants from a prior year (net of credits and charges.)
Box 7: Payments received in the calendar year that are intended for a term beginning January-March of the next calendar year.
Box 8: Indicates if the student was at least a half-time student during at least one semester during the calendar year. The academic terms for the calendar year include Spring, Summer, and Fall.
Box 9: Indicates graduate student status.

Form Discrepancies

If the totals on your 1098-T don’t look correct, keep in mind that the form reports Qualified Tuition and Related Expenses (QTRE) amounts paid in Box 1 for the calendar/tax year. Amounts paid are reported on your 1098-T form based on the date the payment is posted to the system, regardless of the date or term the charge is posted.

Additional Considerations

Course Management

Course Overload: Undergraduate students in good academic standing may request to enroll in more than 17.5 units in any semester with the registrar’s approval.
Course Repetition: If a student repeats a course for any reason, the student will be charged the tuition and fees in effect at the time the course is repeated.
Part-time Study: Some programs are sequential in nature; therefore students must receive clearance from the department chair to be classified as part-time.

Drops and Withdrawals

A drop is when a student drops a course but remains enrolled in other courses during the same term. A withdrawal is when a student drops all courses in an academic term, even if they are enrolled in a previous or future term. Specific dates are outlined on each program’s academic calendar.

Tuition Adjustments for Drops and Withdrawals

If a student drops a course or courses during the add/drop period, their tuition will be adjusted. The add/drop period is typically the first two weeks of each term. If a student withdraws from the academic term, a different calculation is used to determine if/how the tuition will be adjusted.

Payment Information

Tuition and fees are due before the first day of each semester to be considered paid on time. Students who have been approved for financial aid and do not see their “Anticipated Aid” should consult the Campus Service Center. If your financial aid funds cover 100% of tuition, no payment plan is needed.

Payment Plans

Payment plan options give students the opportunity to pay in monthly installments by evenly splitting up tuition balance for the duration of the semester. If the length of the semester is four months, the payment plan can be set up for a maximum of four months; the last payment must be paid by the last day of the semester. A new payment plan must be set up each semester, as payment plans do not carry forward. The student is responsible for making sure payments are made on time. A late fee is assessed if payment is received more than five days past the due date.

Consequences of Non-Payment

Students with poor payment history (returned checks, nonpayment of payment plans) are required to pay in full at the time of registration for all charges posted to their account. If a student is enrolled in a payment plan and misses two consecutive monthly payments, the university reserves the right to cancel the payment plan and place the student on a Business Office Hold. Diplomas will not be issued to current or former students with a past due tuition balance and/or past due balances on Federal Perkins, Federal Nursing, and/or Federal HPSL loans. Delinquent accounts may be assigned to collection agencies and reported to the credit bureaus, with the student responsible for all costs involved with the collection.

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