Understanding Your MyMount Tuition Statement

Navigating the financial aspects of college can be complex. This article provides a comprehensive guide to understanding your tuition statement, payment options, and financial aid opportunities at various institutions, drawing upon examples and policies from Mount Mercy University, Mount Saint Mary College, Mount Marty University, Mount Union, and Mount Mary University.

Accessing Your Tuition Statement

Most institutions offer online access to student account statements. For instance, at Mount Saint Mary College, student account statements for each semester are available online at portal.msmc.edu under the Student Accounts tab. Similarly, Mount Mercy students may view statements through myMountMercy. These statements provide a snapshot of your account balance at the time of publication.

A statement only shows the balance at the time the statement is published.

Authorized Users

Many universities allow students to grant access to their tuition information to parents, guardians, or other authorized users.

The student may set up another individual (i.e. a parent or guardian) to make a payment on their account or to view their balance.

At Mount Union, students can assign a PIN for parents/guardians to make tuition payments, without granting access to the entire portal account.

This will give parents/guardian access to make a tuition payment only, not access to your portal account. Just follow the instructions when prompted.

The default setting is that authorized users have access to statements. If an authorized user needs a password reset, the student must perform the reset. The school cannot reset the password. Under “Payers” click on the pencil icon on the authorized user who needs to have the password resent.

Payment Options

Universities offer various payment methods to accommodate different financial situations.

Online Payments

Many institutions use third-party services to process online payments. ACH (eCheck), credit, and debit card payments on your student account are processed by Transact SmartPay, a third party merchant.

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Transact SmartPay charges a service fee of 2.95% (fee increase from 2.85% to 2.95% effective as of 1.6.25) for payments made using a credit or debit card to cover the cost of processing. Service fees are non-refundable.

For example, Mount Saint Mary College uses Transact Payments for online bill payments. Mount Union accepts electronic checks and credit card payments via TouchNet.

Payment Plans

To help manage tuition costs, many universities offer payment plans. Mount Mercy offers a monthly payment plan through CashNet with four installments per semester. The cost to enroll is $75 per semester. Mount Union has partnered with TouchNet to offer a variety of payment plans to assist with managing the cost of tuition and fees. Plans are subject to application deadlines based on your term of enrollment. A bi-weekly Summer Payment Plan is now open for enrollment. You will need to provide your balance amount to the application for your payment amount to be calculated equally between the four (4) bi-weekly payments. The first payment is due May 19, 2025 with the final payment due June 30, 2025.

Mount Saint Mary College offers 3-month, 6-month and 12-month interest-free payment plan options through Nelnet in order to resolve your debt.

Failure to pay the balance due in full and/or enroll in an approved University tuition payment plan by the required due date may result in additional charges being assessed to your student account. The University reserves the right to refuse to admit a student to class until the outlined payment terms have been met. Students with unpaid balances over $250.00 may not register for another term.

Read also: Waterville's Colby College

Checks and Money Orders

Some universities still accept traditional payment methods. Please make checks payable to Mount Saint Mary College or MSMC. Be sure to include the student’s name and ID number in the memo field to ensure correct payment processing.

Cash, checks and money orders will be accepted in our office. Accounting & Finance Office Mount St.

Please make checks out to "Mount St. Mary's University" and send to: Accounting & Finance OfficeMount St.

Late Payment Fees

It’s crucial to adhere to payment deadlines to avoid late fees. There is a $25 late payment fee. You will be terminated from the payment plan if you miss two consecutive payments. The account balance will automatically be due in full at that time, and if not paid, your account will be placed hold.

Financial Responsibility Agreement

All students are typically required to acknowledge their financial obligations to the university. All students are required to electronically sign (e-sign) a Financial Responsibility Agreement (FRA). The Financial Responsibility Agreement is a disclosure agreement between the student and Mount Mercy University that states the student agrees to pay all charges that result from registration and services received from the University. Students will be asked to acknowledge that they understand that their responsible to pay all charges associated with attendance and where applicable, residence costs at the University. Students only need to sign the agreement once as long as continuous enrollment is maintained within the same program of the University. If a student changes programs (i.e.

Financial Responsibility Agreement - Complete the Financial Responsibility Agreement which can be located on the left panel of the Account Balance tab in MyMount.

Tuition Adjustments and Refunds

Tuition charges can be affected by changes in enrollment. A student’s final bill will be determined on the last day to add classes for each semester. This is generally 7 days after the beginning of the semester and is referred to as the final bill date. Before the final bill date, students may adjust their class schedules without incurring add/drop fees. Students who drop classes after the final bill date will not be eligible for a tuition refund unless they withdraw from the University. Students who withdraw from the University after the final bill date may be eligible for a refund.

Account Holds and Financial Dismissal

Failure to meet financial obligations can lead to serious consequences. The Student Account Representatives (located in the Business Office) may place a hold on a student account if the account is past due. Students who have outstanding balances at the end of a term, may be issued a notice of financial dismissal.

Understanding Credits and Refunds

Sometimes, a student's account may show a credit balance due to financial aid or overpayment. If the student has more financial aid or other payments than the charges on the account, the student will have a credit on their student account and is eligible to receive a refund for the credit. When looking at a student account, a credit balance will have a “-” in front of the amount.

The Student Account Representatives (located in the Business Office) issue refunds weekly when the office is open. Students must enroll in e-Refund (direct deposit) through CashNet to authorize an ACH deposit. If a student is not enrolled in e-Refund then the student will receive a physical check.

Emergency Financial Aid Grants

In response to the COVID-19 pandemic, many universities distributed emergency financial aid grants to students. Mount St. Mary’s University received funds from the CARES Act, CRRSAA, and ARP to provide supplemental aid to students. These funds were intended to assist with expenses related to the disruption of campus operations, such as food, housing, course materials, technology, health care, and child-care expenses.

CARES Act Funds

Under the Coronavirus Aid, Relief and Economic Security (CARES) Act, Mount St. Mary’s University (the Mount) was allocated $1,678,020. At least 50% of the funds received under Section 18004(a)(1) were to be used as emergency aid for students. Upon submission of the Funding and Certification and Agreement, signed on April 21, 2020, the CARES Act provided the Mount with $839,010 in funds to be distributed to students as Emergency Financial Aid Grants. The funds were provided to assist eligible students who incurred “expenses related to the disruption of campus operations due to coronavirus such as food, housing, course materials, technology, health care and child-care expenses.”

Only students who are or could be eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965, as amended (HEA), may receive emergency financial aid grants. citizenship or eligible noncitizen; a valid Social Security number; registration with Selective Service (if the student is male); and a high school diploma, GED, or completion of high school in an approved homeschool setting.

In order to distribute funds to students with the highest need as quickly as possible, the Mount awarded CARES Act Emergency Financial Aid Grants in two phases. Additionally, the student must have been enrolled in classes that did not take place exclusively online prior to March 13, 2020 and meet other defined criteria.

To prioritize students with the most need, the Mount awarded undergraduate Pell Grant recipients $600. Undergraduate students who did not receive a Pell Grant but had an Expected Family Contribution (EFC) less than $50,000 on their FAFSA were awarded $245. Additionally, eligible students who submitted an Application for Assistance online on or before April 30 were awarded $150 in additional funding.

To be considered for an award for the Phase 2 distribution, eligible students had to have filed a Free Application for Federal Student Aid (FASFA) for 2019-2020 no later than June 30, 2020 and enrolled in classes for the spring and fall 2020 semesters as of August 26, 2020. Additionally, the student must have been enrolled in classes that did not take place exclusively online prior to March 13, 2020 and meet other defined criteria.

To prioritize students with the most need, the Mount awarded undergraduate Pell Grant recipients $780. Undergraduate students who did not receive a Pell Grant but had an Expected Family Contribution (EFC) less than $50,000 on their FAFSA were awarded $275.

All CARES Act Emergency Financial Aid Grant for students has been disbursed as of September 10, 2020. Mount St. Mary’s University used the FAFSA to determine Title IV eligibility.

CRRSAA Funds

Under section 314(a)(1) of the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA), Mount St. Mary’s University (the Mount) was allocated $2,584,181 from HEERF II. At least $839,010 of the funds received under Section 314(a)(1) are to be used as supplemental aid for students.

The Department of Education automatically awarded the supplemental funds to eligible institutions that previously received a section 18004 (a)(1) Student Aid Portion or Institutional Portion award under the CARES Act. Mount St. Mary’s University determined eligibility as students who are eligible under Section 484 in Title IV of the Higher Education Act of 1965, as amended (HEA), may receive emergency financial aid grants. citizenship or eligible noncitizen; a valid Social Security number; registration with Selective Service (if the student is male); and a high school diploma, GED, or completion of high school in an approved homeschool setting.

To be considered for the supplemental aid, eligible undergraduate students had to have filed a Free Application for Federal Student Aid (FASFA) which has been processed as of February 26, 2021 and enrolled in a minimum of six credit hours for the Spring 2021 semester, by February 12, 2021.

To prioritize students with the most need, the Mount awarded undergraduate students who were eligible to receive Pell Grant funds $875. Eligible undergraduate students who did not receive a Pell Grant but had an expected family contribution (EFC) less than $50,000 on their FAFSA were awarded $500. Eligible adult accelerated undergraduate students who were eligible to receive Pell Grant funds were awarded $750.

A total of 1,308 eligible undergraduate students have been awarded HEERF II supplemental student aid totaling $839,500. These funds were distributed between April 22, 2021, and April 27, 2021, via check unless the student has consented to apply those funds to their outstanding account balance.

All HEERF II supplemental student aid has been disbursed as of April 27, 2021.

ARP Funds

ARP funds are in addition to funds authorized by the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA), Public Law 116-260 and the Coronavirus Aid, Recovery, and Economic Security (CARES) Act, Public Law 116-136. Under section 2003(a)(1) of the ARP, Mount St. Mary’s University (the Mount) was allocated $4,565,078. At least $2,286,966 of the funds are to be used as supplemental aid for students.

The Department of Education automatically awarded the emergency supplemental funds to eligible institutions that previously received a section 18004 (a)(1) Student Aid Portion or Institutional Portion award under the CARES Act. Under Section 2003 (a)(1) of the ARP, the funds are to be provided to assist eligible students “for any component of their cost of attendance or for emergency costs that arise due to coronavirus, such as tuition, food, housing, health care (including mental health care) or childcare.

All students who are or were enrolled in an institution of higher education during the COVID-19 national emergency are eligible for emergency financial aid grants from the HEERF.

A total of 315 eligible undergraduate students have been awarded $100 of the HEERF III phase I supplemental student aid, totaling $31,500. A total of 2,538 eligible students have been awarded HEERF III phase II supplemental student aid, totaling $1,703,050. Additional criteria were defined to allocate the award amounts, prioritizing students with the most need based on the filed 2021-22 Free Application for Federal Student Aid (FASFA) as of November 1, 2021.

A total of 25 eligible students have been awarded HEERF III phase III Professional Judgement supplemental student aid, totaling $31,000. A total of 472 eligible students have been awarded HEERF III phase IV supplemental student aid, totaling $521,418.40.

Tax Implications of Emergency Grants

Emergency financial aid grants made by a federal agency, State, Indian tribe, higher education institution or scholarship-granting organization (including a tribal organization) to a student because of an event related to the COVID-19 national emergency are not included in the student's gross income.

Additional Resources

MyMountMary: This is your personalized portal to manage everything at Mount Mary University.
- Finances: Access everything related to your college finances under this tab. Under “My Account Info,” access the Transact Payments system to pay deposits, tuition and account balances.
- Academics: This tab includes information related to your academic degree program and progress. Under “Course Search,” find courses to sign up for. Under “Course History,” see courses you have already completed.

The Bursar Office houses all information relating to the billing and collection of tuition, fees, and an other university-based charges. We utilize a third-party agency, Nelnet, for semester invoicing and payment options. Any past due student debt to the university may also utilize a third-party agency. Days listed include weekends. Nelnet Payment Plans not available during Summer Semester.

Delinquent accounts may be referred to collection agencies chosen by Mount Marty University and notification provided to credit bureau agencies.

Mount Marty University has the right to assess, and the student will be responsible for paying, monthly interest charges, late charges, reasonable collection costs, attorney fees, and any other costs associated with or which accrue due to the delinquent status of a student account.

Title IV funds (Stafford Loan, Plus Loan, Nursing Loan, Pell, etc) that are received will be first applied towards tuition, fees, and room and board. If I should have any Title IV funds left over, I authorize Mount Marty University to apply the additional funds to any non-institutional costs (books, finance charges, etc) that I may have on my account.

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