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FinAid Tutor: Lesson 5 Bills, Disbursements, & Refunds
Lesson 5: Learning Outcomes <ul><li>By the end of this lesson, you will have a better understanding of: </li></ul><ul><ul>...
Bills <ul><li>Fall and Spring semesters are billed separately </li></ul><ul><li>Bills are usually sent to students about 4...
Payment Options at WVU <ul><li>60/40 Plan :  </li></ul><ul><ul><li>60% of charges are due by the payment date on the invoi...
Financial Aid Disbursements <ul><li>First-time loan borrowers must complete  additional requirements before loans will dis...
Withdrawal Refund Policy <ul><li>Refunds range from 90% to 50%, depending on the date of withdrawal </li></ul><ul><ul><li>...
Financial Aid Repayment Policy <ul><li>A student “earns” financial aid based on the on the length of time actually enrolle...
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Lesson 5: Bills, Disbursements, & Refunds

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Lesson 5: Bills, Disbursements, & Refunds

  1. 1. FinAid Tutor: Lesson 5 Bills, Disbursements, & Refunds
  2. 2. Lesson 5: Learning Outcomes <ul><li>By the end of this lesson, you will have a better understanding of: </li></ul><ul><ul><li>When bills must be paid in full </li></ul></ul><ul><ul><li>Payment options available at WVU </li></ul></ul><ul><ul><li>Disbursement of financial aid </li></ul></ul><ul><ul><li>Withdrawal refund policy at WVU </li></ul></ul><ul><ul><li>Financial aid repayment policy </li></ul></ul>
  3. 3. Bills <ul><li>Fall and Spring semesters are billed separately </li></ul><ul><li>Bills are usually sent to students about 4 weeks before the semester begins </li></ul><ul><li>Financial aid will be credited to your account (except Work-Study) against your charges </li></ul><ul><li>Information on charges and credits can be viewed on your MIX account </li></ul><ul><li>To avoid late charges, balances must be paid in full before classes begin </li></ul><ul><li>Contact the Office of Student Accounts for more information </li></ul>
  4. 4. Payment Options at WVU <ul><li>60/40 Plan : </li></ul><ul><ul><li>60% of charges are due by the payment date on the invoice and the remaining 40% is due by the end of the 6 th week of classes </li></ul></ul><ul><ul><li>Contact Student Accounts for more information </li></ul></ul><ul><li>Academic Management Services : </li></ul><ul><ul><li>An interest-free payment plan in which charges are paid in monthly installments throughout the academic school year ( www.tuitionpay.com ) </li></ul></ul><ul><li>Other : </li></ul><ul><ul><li>WVU accepts cash, checks, & credit cards </li></ul></ul>
  5. 5. Financial Aid Disbursements <ul><li>First-time loan borrowers must complete additional requirements before loans will disburse (see Lesson 2) </li></ul><ul><li>Financial aid is first applied to WVU charges (tuition, fees, room & board) </li></ul><ul><li>Remaining funds will be mailed to the students during the first week of classes </li></ul><ul><li>Contact the Office of Student Accounts for information regarding refund checks </li></ul>
  6. 6. Withdrawal Refund Policy <ul><li>Refunds range from 90% to 50%, depending on the date of withdrawal </li></ul><ul><ul><li>NOTE: After the sixth week of classes there are no refunds offered. </li></ul></ul><ul><li>Refunds may need to reimburse disbursed financial aid according to the Financial Aid Repayment Policy </li></ul><ul><li>No refunds are given after the 6 th week of classes </li></ul><ul><li>Detailed information on the Withdrawal Refund Policy can be found in the WVU Undergraduate Catalog </li></ul>
  7. 7. Financial Aid Repayment Policy <ul><li>A student “earns” financial aid based on the on the length of time actually enrolled </li></ul><ul><li>If more than 60% of the term has passed, all aid is considered “earned,” and no funds have to be repaid </li></ul><ul><li>If the student withdrawals before 60% of the term, the portion of “unearned” financial aid must be repaid </li></ul><ul><li>If a student’s charges exceeds the “earned” financial aid upon withdrawing, the student will be billed for difference </li></ul><ul><li>Detailed information on the Financial Aid Repayment Policy, can be found in the WVU Undergraduate Catalog </li></ul>

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