2004-2005 Academic Catalog

206 Financial Information Student Costs Financial Information University Financial Operating Policy The University keeps the application fee, tuition, room, board, and other fees as low as possible to be consistent with responsible operation. The revenue from students does not cover the total cost of operation. Individuals and churches who desire to share in the preparation of young people for effective Christian service in all walks of life partially support the University. Some funds are received from interested businesses, industries, and foundations. Student costs as stated are subject to change upon reasonable notification by the University. Student Costs Tuition *Regular tuition per semester credit .......................................... $501 Audit tuition per semester credit ................................................ $251 Fees Application fee ............................................................................. $30 Board per semester Group A Meal Plan ................................................................... 1,163 Group B Meal Plan ................................................................... 1,050 Car registration fee per semester ................................................. 30 Drop/add (course) fee ..................................................................... 5 Late payment fee ........................................................................... 20 Late registration ............................................................................. 50 Lost room key ................................................................................. 50 New student fee Commuting student–Fall Semester ............................................... 75 Commuting student–Spring Semester .......................................... 55 Resident student–Fall Semester ................................................ 105 Resident student–Spring Semester ............................................. 65 Reservation deposit ..................................................................... 250 Room deposit (refundable upon withdrawal) ............................. 100 Room per semester ................................................................... 1,342 Test-out fee per semester credit ................................................. 251 *Senior citizens may enroll in courses for credit or no credit on an available space basis at no tuition charge. Senior citizens are those individuals 62 years of age or older who are considered to be retired according to the Social Security Administra- tion. Summary of Costs Basic Expenses Estimated basic costs for the academic year of 2004-2005 (excluding transportation, personal expenses, books, and laboratory fees): Tuition (based on an average of 32 semester hours) ................... $16,032 Board (21 meals per week) ................................................................ 2,326 Room ................................................................................................... 2,684 Total Estimated Costs................................................................ $21,042 Other Expenses Other yearly expenses may be estimated as follows: Books and supplies ..............................................................................$740 Personal expenses (including clothing, recreation, and personal items) Note: laundry included with room .......................$970 Transportation (based on area of residency) .................................various Financial aid may be available to help with university costs. See the Financial Aid section of this catalog for additional information concerning available funds and application procedures. Financial Registration Policy To enable the University to be responsible in meeting its financial responsibilities, students must make provision for the payment of their bill on the due dates established by the University each semester. A student’s registration for classes indicates a commitment to pay for related charges as stated in the university catalog. The following payment plan schedule was established to help students care for this responsibility: Fall 2004 Spring 2005 First Payment Due: August 16, 2004 January 1, 2005 Second Payment Due: September 1, 2004 February 1, 2005 Third Payment Due: October 1, 2004 March 1, 2005 Fourth Payment Due: November 1, 2004 April 1, 2005 A student is not considered financially registered until at least the first one-fourth payment has been received by the Cashier’s Office. Students who do not make financial arrangements for the first payment due on their university bill will not be permitted to attend the University. Failure to make subsequent payments could result in the loss of cafeteria and library privileges and the withholding of grades and on-line registration. Payment Plans Students may take advantage of one of two payment plans: A. Payment in Full involves paying the full amount due as indicated on the Student Invoice by the first payment due date indicated above. B. Four-Pay Plan makes it possible for students to pay their university bill in four payments spread over three months. An interest charge of 1.083% per month is made on the unpaid balance. Payment envelopes, available on campus, enable students to send checks through intracampus mail and avoid standing in lines. First Payment: At least one-fourth of the amount the student is required to pay is due according to the above payment schedule. This is the amount of the student’s bill remaining after federal loans, financial aid grants, and scholarships are deducted. When this payment is made, the student has completed financial registration. A late payment charge of $20 is assessed if the first payment is not made by the due date. Second Payment: The student is required to pay the second payment within four weeks of financial registration. A late payment charge of $20 is assessed to all accounts that do not meet this criteria. An interest charge of 1.083% per month is made on the unpaid balance. Third Payment: The student is required to pay the third payment within eight weeks of financial registration. A late payment charge of $20 is assessed to all accounts that do not meet this criteria. An interest charge of 1.083% per month is made on the unpaid balance. Fourth (final) Payment: The remaining balance owed by the student is due within three months of financial registration. A late payment charge of $20 is assessed on all student accounts with a balance remaining after this deadline. An interest charge of 1.083% per month is made on the unpaid balance. Please note: The use of the Four-Pay Plan constitutes a debt obligation of the student to the University and is payable in terms as stated. Each parent and each student must consider and understand the full cost and obligation of the commitment beingmade. Notification of the University Bill Students who register early for classes will receive an invoice based on their course schedule 15 to 20 days before the semester begins. A statement of the student account is generated each month that the account has activity. Invoices and account statements are directed to students at their current university residence. Students may request to have statements and invoices sent to their home address; however, they are still addressed to the student. Forms are available in the Cashier’s Office to request that invoices and statements be sent to the home address. Invoices and Statements Online Students may view their student account, payment plan, most recent invoice, and most recent transactions online using the campus network. Students may also assign their parents a password, giving them access