2008-2009 Academic Catalog

Financial Information Financial Information 264 Cedarville University 2008–09 Payment Penalties Students who fail to make acceptable payment arrangements within a reasonable period of time will be denied access to the cafeteria and library until such arrangements are made. Students who do not make payments by the stated due dates will be charged $25. Students with unpaid balances at the end of the semester may be denied, grade reports, transcripts, diploma, or enrollment in the next semester. Students with past due accounts will also be responsible for any fees incurred in the collection of their past due account. Interest Rates An annual interest rate of 13% (1.083% per month) will be charged during the academic year on accounts of current students. An annual interest rate of 15% (1.25% per month) will be charged during the academic year on accounts of students no longer enrolled and on all student accounts during the summer months. Prepayment Incentive Credit Plan (PIC-Plan) This plan enables a student to earn interest on their student account that has a credit balance of $500 or more on the first day of the calendar month. The PIC-Plan account and the student account are one and the same. PIC-Plan interest is taxable and anyone earning $10 or more in interest will receive a 1099-INT form. Please call 937-766-7665 for the maximum deposit amount and the current interest rate. Withdrawals From a Student Account A student may withdraw cash from their student account during the semester, provided they have a credit balance. Cash withdrawals may not exceed $50 per week. No more than two cash withdrawals may be made per week. Withdrawals of amounts greater than $50 are issued by check; requests can be made by contacting the cashier’s office or using CedarInfo by selecting Request a check from your student account under Financial Transactions . Checks are issued within two to three business days of the request. Student Health Insurance Due to increasing complexities in dealing with Health Maintenance Organizations (HMOs) and the many and varied Preferred Provider Plans (PPPs), medical insurance is provided for all students taking six or more credits at no additional cost. Students taking less than six credit hours may purchase the Student Health Insurance Plan. Married students may also purchase the Student Health Insurance Plan for their spouse and dependants. For more details, please contact the student health insurance coordinator at 937-766-7864, visit online at www.cedarville.edu/ums , or e-mail stuhealth@cedarville.edu (fax: 937-766-3646). New Student Reservation Deposit Refund A reservation deposit must be submitted by new students as an indication of the intention to enroll. The amount of the deposit is $250. This money will be credited to the student’s account and used to cover first semester expenses. A student must submit a reservation deposit in order to be registered for courses. The reservation deposit is fully refundable if the request for refund is received in writing before the reservation deposit deadline. No refunds are available after the deposit deadline date. Reservation deposit deadlines are as follows: Term Deadline Fall Semester May 1 Spring Semester Nov. 1 Summer Session I April 15 Summer Session II May 15 Summer Session III June 15 Continuing Student Reservation Deposit Refund Full (100%) refunds will be made to continuing students who notify the University by June 1 of their intent to withdraw. If a continuing student notifies the University between June 2 and July 1 of his/her intention not to return fall semester, $150 of his/her deposit will be refunded. No refunds will be made after July 1. Withdrawal Refunds Tuition and Science Laboratory Fees Students withdrawing from the University before the end of a semester may request a refund from the cashier’s office. Refunds may be requested anytime after the beginning of a semester. The effective date of the withdrawal from the University is the last day of class attendance as determined by the office of the registrar. Processing of refunds will begin the third week of the semester. Tuition and science laboratory fee refunds for withdrawal are granted on this schedule: Refund Fall 2008 Spring 2009 100% thru Aug. 29 thru Jan. 16 75% thru Sept. 5 thru Jan. 23 50% thru Sept. 12 thru Jan. 30 25% thru Sept. 19 thru Feb. 6 No Refund after Sept. 19 after Feb. 6 Course offerings changed or deleted by the University entitle a student to a full refund of tuition and related course fees. Students withdrawing from a course or courses will be granted a full tuition refund to apply toward courses added. If the new total hours are fewer than the original total, the above refund schedule will apply. Board Board charges will be refunded on a prorated weekly basis. Board weeks begin on Sunday and end on Saturday. Board refunds are computed based on the last day of residency. Board contracts are required for all students living in the residence halls. Students may choose from six available meal-plan options. Room Rooms are reserved for each student for an entire semester. No refund of room rent is made except in cases of severe illness or incapacity. Written confirmation of the illness or incapacity must be provided by the director of University Medical Services or a physician. Room rent will then be refunded on a prorated basis. Other Fees No other fees are refundable except for withdrawal within the first calendar week of the semester.