Payment Methods
It is expected that all accounts are paid in full or have an approved payment plan in place by January 15, 2012.
Please make sure you check your financial aid award on ACIS to ensure that you have completed all the necessary steps to allow your scholarships, grants and loans to be posted by January 15, 2012. If there are any outstanding requirements, please satisfy those by following the instructions in ACIS immediately. (If you have questions about your financial aid or accepting/completing the requirements, please contact the Financial Aid Office at 517-629-0440).
Late Payment Fee
There will be a $100.00 late fee assessed to all accounts with an outstanding balance that are not set up on either the Albion College Deferred Fee Agreement or the SallieMae Monthly Payment Plan after January 15, 2012.
If the balance remains unpaid on February 1, 2012, a 1.25% per month time charge differential will be assessed on the unpaid balance in addition to the late fee above.
If the balance remains unpaid or an approved payment plan is not set up by February 15, 2012, additional penalties may result including withdrawal from the college.
Albion College offers two tuition payment plans:
1. The College's Deferred Fee Agreement.
For a student to participate in the College's deferred payment plan, one-third of the Net Tuition and Fees due (Tuition and Fees minus financial aid, excluding loans) is payable by January 15, 2012. The remaining balance is deferred over two months with the first payment due on February 15, 2012 and the second payment is due on March 15, 2012. There is a 1.25% per month time charge differential assessed on the unpaid balance.
Failure to meet an installment deadline may automatically cancel the privilege of class attendance and will prevent class registration for the next semester.
2. Sallie Mae Monthly Payment Plan
The SallieMae plan enables you to pay all or part of your Albion College fees in monthly installments without interest charges. The plan may also be used to supplement all other forms of financial aid such as grants, loans and scholarships.
Participation is on an annual or semester basis. The only cost is the $ 55.00 enrollment fee. Please visit the Sallie Mae website for further information and to sign up on-line. www.salliemae.com/site/tuitionpay
The deadline to enroll in the SallieMae payment plan for Spring 2012 is December 24, 2011.
3. Payment for Students on Off Campus Programs
Payment expectations for students on Off Campus Programs are different than when students are on campus.
- Payment in full for the semester is expected before the student leaves for the program or the due date on the bill whichever is sooner. (An exception to this is certain Australia programs that start in mid July - payment for these programs is expected by the due date on the bill).
- Payment plans are not permitted.
- Students must make sure that all federal loan paperwork is completed prior to their departure so that funds can be disbursed on time. Alternative loans and PLUS loans should be initiated far enough in advance so that they disburse on or prior to the due dates.
- Please see the Off Campus Programs Handbook for other information.
Past Due Accounts
Students having any indebtedness to the College will not be permitted to complete enrollment for the next semester's classes.
No diploma, certificate, transcript, semester grade report, letter of honorable dismissal, or letter of recommendation will be granted to students who have an indebtedness to the College.
The college reserves the right to increase or decrease fees and charges. Published notice of any change will be given in advance.
