Navigating Finances at UMBC: An Overview of Student Business Services
Student Business Services (SBS) plays a vital role in the UMBC student experience by managing the financial aspects of enrollment, billing, payments, and refunds. SBS is committed to providing students and their families with clear and confident navigation of these processes. This article provides an in-depth look at UMBC's Student Business Services, covering billing procedures, payment options, financial aid application, and data management practices.
Understanding Your E-Bill
UMBC uses electronic billing (e-bills) as its primary method of communication regarding student accounts. UMBC does not issue paper bills. Account Inquiry is the most current, real-time, information and shows activity between e-bills.
When to Expect Your Bill
Students registering in August can expect to be billed on September 1st. For housing and meal plan charges, posting dates depend on housing assignment dates. However, most students can expect to see tuition, housing, and meal plan charges on the August 1st e-bill.
Financial Aid and Your Bill
One of the most common questions students have is how financial aid interacts with their bill. The good news is that financial aid will automatically apply to your charges, provided you have completed all the necessary requirements to receive it. For full-time students, this begins on August 20th, and for part-time students, on September 18th.
What happens if your financial aid disbursement date is later than your bill's due date? If the pending/anticipated aid shown on the August 1st e-bill is sufficient to cover the total amount due, you will not be charged a late fee.
Read also: Comprehensive Breakdown of UMBC Tuition
Payment Options and Plans
UMBC offers various convenient methods for students to pay their bills. Payments can be made via myUMBC. Select the Billing & Personal Finances Topic and Payments & Billing. Electronic checks (ACH), credit cards and campus card payments are accepted online. For more information, please visit the SBS Payments web page.
Accepted Payment Methods
UMBC accepts VISA, MasterCard, American Express, and Discover. Please note that credit cards are only accepted online. Credit cards are not accepted at the Cashier’s Office. Electronic checks (ACH) are accepted online at no charge. Debits from Savings accounts are also accepted online at no charge.
Monthly Payment Plan
For students who prefer to spread out their payments, UMBC offers a 3-installment payment plan. The plan is typically available through August 19th. Even if you haven't registered for courses yet, you can still sign up for the payment plan. To estimate your tuition and fees, room and board costs please the SBS Tuition Information web page.
Addressing Common Billing Issues
Several scenarios can lead to confusion regarding student bills. Here are some common issues and how to address them:
Refund Repayment
Sometimes, students may owe a refund back to UMBC. This can happen for a number of reasons. Please review your Account Inquiry.
Read also: International Student Visa Issues
Dropping Courses
If you drop a course after the start of the semester, you may still be responsible for charges (in part or in full) depending on when you dropped the course.
Past-Due Holds
If you have a past-due balance, it can prevent you from ordering transcripts. If you want to order a transcript, but there is a past-due hold on your account, you'll need to resolve the balance with SBS first.
Data Management and Privacy
SBS collects and manages data such as tuition and fee charges, student account balances, payment transactions, refund information, and associated communications. Through integrated systems and secure payment platforms, SBS ensures that student financial data is processed efficiently and protected in accordance with university policies and applicable privacy laws, including the Family Educational Rights and Privacy Act (FERPA).
Data Collection
Student Business Services (SBS) collects data through multiple channels that support its operations. Data related to the calculation of tuition and billing are primarily collected automatically from university systems such as registration records, enrollment data, and residency status maintained by the Registrar and other campus offices. Payment and payment plan information are collected through secure online payment portals where students submit payment details directly. Perkins Loan data is collected during loan origination and repayment, including information provided by students and shared by federal loan systems.
Data Usage
Student Business Services (SBS) uses the data it collects to manage the financial aspects of the student experience at UMBC. This includes calculating tuition and fees based on enrollment and residency status, generating billing statements, processing payments and managing payment plans, and issuing refunds. Maryland state law requires that delinquent accounts be sent to Maryland Central Collections after 150 days of delinquency. UMBC provides a number of written notices before any accounts are sent to Central Collections.
Read also: Applying to UMBC
Data Sharing
SBS shares data internally with offices such as Financial Aid and the Registrar to support accurate billing and reconciliation. It is also shared externally with contracted payment processors and financial institutions for secure transaction processing. For example, account information may be shared internally with offices such as Financial Aid and other Enrollment Management offices to ensure accurate assessment and reconciliation of tuition charges. Internally shared to support account management and reconciliation processes. Billing statements are provided directly to students. Shared with contracted third-party payment processors (e.g., Transact and BankMobile) solely for the purpose of processing student payments and managing payment plans. Shared with contracted Perkins Loan servicers for loan management, repayment, and collections activities.
For all student educational data, UMBC’s privacy policy requires that contracts with third parties explicitly prohibit any use of UMBC data for purposes beyond the services procured and that data must be deleted upon contract termination. In addition, UMBC evaluates the cybersecurity and privacy practices of all vendors to ensure that they meet the same standards the university would apply if operating the service internally.
Accessing and Managing Your Data
We are working to provide individuals, once authenticated, with information from our analytics platform. If you would like to review, correct, or request the deletion of your personal data held by UMBC, or opt-out of third party sharing, please fill out our Privacy Request Form and follow the instructions. This form ensures that your request is processed promptly and in accordance with privacy regulations. Our team will review your submission and respond as soon as possible.
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