Charges, Costs and Payment Plans
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Can I Use My Financial Assistance Award to pay for my textbooks?
It depends. If yourtotal financial assistance award for the term is larger than your charges, you are entitled to a “Credit Balance” Refund. (See Credit Balance Refunds above.) You can use that money to pay for your text books. But, it is better if you can obtain your text books earlier so you have them for your first day of class. Working during the Summer and saving your wages is a good way to plan ahead. However if you still need help, contact the Student Financial Planning Office in the K Dub Hub for more information about “Text Vouchers” for the Bookstore. Under some very limited circumstances, staff members may be able to help, if you qualify.
What if My Financial Assistance Award is NOT Sufficient to Pay ALL of my charges for tuition, etc?
Below is an example of this:
If you have a remaining balance of charges not covered by your “Financial Assistance Award, the KWU Payment Selection Form is how you and your family informs KWU which of the option you choose to cover the remaining balance. It is included with your Award Letter and a blank copy is available to download from the KWU Financial Aid webpages at http://www.kwu.edu/future-students/tuition-fees/financial-aid/forms.
In short, the following options are available:
v Pay the balance in full prior to the beginning of the term.
Due Dates: Fall Term: August 3 Spring Term: January 4 Summer Term: May 1
v Pay the balance by automatic debit from a checking or savings account. See the Payment Selection form for the dates on which these four (4) equal installments are deducted each term. The First Due Date is 8/1 for the Fall term and January 2, 2014 for the Spring term. Custom arrangements are sometimes available, but the account must be paid in full at the end of the Semester and there is a fee for the Custom Payment Arrangements. See the Fees Section of the current catalog for the ACH Payment Plan and Custom Payment arrangements.
Bank drafts returned for insufficient funds or closed accounts will cause the student account to be assessed a $30.00 fee. Requests for alternative dates for drafting, if approved, will also be assessed a $10.00 fee. Late enrollment in the bank draft program (after the first draft date) will require the amount of missed drafts to be paid by cash, check, or credit card before the bank draft enrollment will be accepted by KWU.
Students who fail to pay any amounts when due are not eligible to re-enroll, or receive grades, transcripts or diplomas until the accounts have been settled or a release has been given by the Business Manager. The University reserves the right to charge a student for damages to University property as a result of carelessness.
Interest on delinquent payments will be assessed at the rate of 1% per month on the unpaid balance. Any and all collection effort expenses will be passed on to the delinquent student. The failure of the University to enforce these provisions at any one time or with respect to any one student shall not constitute a waiver of the right of the University to enforce it at any other time, at all times, or with respect to any other student.
v There are additional financial assistance programs as well:
v PARENT (PLUS) LOAN—Federal Student Aid credit-based loan available to a parent of a dependent undergraduate student. For more information or to apply, the parent should complete “PLUS Loan Request” and “Sign Master Promissory Note” at www.studentloans.gov. If they do not have a FAFSA PIN, they should request one at https://pin.ed.gov/. New FAFSA PINs take three business days to authenticate before a PLUS loan application can be submitted.
ALTERNATIVE EDUCATIONAL PRIVATE LOAN—Non-governmental credit based loans for students, deferred for half time or greater, and a six-month grace period after school before repayment begins. Apply for the entire year; funds are disbursed each semester. A co-signer is strongly recommended in general but required for freshmen or students with no/low credit scores. Interest rate based upon credit. KWU does not endorse any particular lender. but here is a A list of lenders who have historically made loans to our students:
Students must clear all delinquent indebtedness to the college before diplomas, grades or transcripts can be issued.
Students who owe refunds on grants or are in default on a Federal Loan will have a hold placed on their records at the college. No student will be allowed to receive financial assistance until the default has been resolved.