EXPLANATION OF COSTS
UNDERSTANDING YOUR BILL: Following is an explanation of the terms that appear on your statement.
PREVIOUS BALANCE
At the top of your statement you will find a previous balance listed. This may be zero, meaning you have no charges or credits from the previous semester; a positive number showing the amount you still owe from the previous semester; or a negative number, meaning an overpayment from the previous semester. Charges and credits will be added to and subtracted from this amount.
CHARGES
The following will appear as charges on your account:
TUITION Classes are charged per credit hour. If you have 9 credit hours or more, you are charged full time tuition of $9350 for the semester. If you have over 18 credit hours, you will be charged and additional $100 per credit hour over the initial 18 credit hours.
COURSE FEES Special instructional fees may apply to certain courses.
ROOM Charges for on-campus housing. Basic rooms, private rooms or apartments are available on a first come, first served basis. Please contact student services at (828) 669-8012 ext 3631 to arrange housing, or to change housing. If the housing listed on your statement is not correct, be sure to get it corrected with student services and then inform the student accounts office in order to be charged correctly.
Only seniors, students over 21 or students living with their parents locally may live off campus. Be advised, living off campus will affect your financial aid award. Please check with the Financial Aid office for more information.
DINING HALL All resident students must have the meal plan. This provides 17 meals per week at the cafeteria (each meal is “all you can eat”) plus $100 on a Cavalier Card for meals at the Cavalier Grill.
Commuters may purchase a 20 meal plan for $95.75
STUDENT HEALTH SERVICES FEE All full time students are charged $380 a year to fund the Student Health Services Clinic. Each student will also receive a health insurance policy for the year from United Health Care at no additional charge. Details about the coverage of this policy are available at www.uhcsr.com.
PARKING FEE For those students who wish to park on campus, a sticker may be purchased for $100. This allows parking for both the Montreat campus and the Black Mountain campus. Parking without a sticker will result in parking fines being assessed.
OTHER FEES AND FINES Other fees may apply. For a list of Charges for Montreat College for the 08-09 year, go to the 'Forms' link to the left. Parking fines will be charged for parking without a registration sticker or for parking in unauthorized spaces.
CREDITS
Credits will appear on your statement as follows:
PAYMENTS Payments will be listed on your statement by the date entered into our system. Please allow 3 business days for a payment to show on your account from date of receipt. Payments may be made by cash in our office, check or credit card. If you have a payment plan with CFI or AMS, the payment will appear on your statement after we have received the funds from the payment plan provider. CFI sends checks weekly, AMS sends us one check a month. Outside scholarships and third party payments will also show as payments when they are received. If you deposit your work study checks, they will also show as a credit when they are received.
LOANS Loans will appear as credits on your account when they are received by our office.
SCHOLARSHIPS AND GRANTS Scholarships and grants will appear as credits on your account when they are received by our office
ANTICIPATED CREDITS
As a courtesy, loans, scholarships and grants that the financial aid office is expecting that you are going to receive will be listed as anticipated credits on your account. This anticipated amount is then subtracted from your charges so you are only obliged to pay the difference that is due by the payment deadline. PLEASE NOTE that if for any reason you are not eligible or do not receive these expected funds, you will be responsible to pay the
total amount due. If your anticipated financial aid results in an overpayment on your account, please be advised you will not be able to get a refund of those funds until we have actually received them. If you are borrowing extra money, plan ahead knowing you will not be able to access the extra money until all the loans and scholarships actually come in and there is really a credit balance.
ANTICIPATED SCHOLARSHIPS AND LOANS Stafford loans, Perkins loans, NC Grant monies, Pell Grants, SEOG, ACG and SMART Grants, and Montreat Scholarships should all appear as anticipated aid. If these are listed on your award letter, but not on your statement, please contact our office. Work Study will not appear on your bill as anticipated credit, even if it is listed on your financial aid award letter.
If you are expecting outside scholarships, grants or loans that are not listed above, and that do not appear on your statement, please inform the finance office using the payment election form, which is available on the ‘forms’ page (link to the left). You may deduct the amount of the award from your payment if you include this completed form and the documentation of the expected award. If for any reason, the funds are not received, you will be responsible to pay the additional amounts.
Once the anticipated funds are received, your statement will no longer list them as ‘Anticipated Credits’, but instead they will appear as ‘Credits’. If the credits result in an overpayment, you will be able to request these funds with a credit request form (available on the forms page (linked on the left)
PAYMENT DUE
This is the amount that you will need to pay our office by the due date. You may elect to arrange a monthly payment plan for this amount with CFI instead, but this should be set up by the payment due date. You may also apply for additional loans for this amount, but the loans should be arranged and approved by the payment due date. Please see the Payment Options page linked on the left for more information on paying your bill.
And God is able to make all grace abound toward you; that ye, always having all sufficiency in all things, may abound to every good work:
2 Corinthians 9:8
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