FINANCES

Student Billing and the Cashier's Office are located on the third floor of the Administration Building. Student Billing answers questions about your bill. The Cashier's Office accepts payment for tuition, fees and parking tickets.

Regular business hours are as follows:
Student Billing: M-F 8:30 am - 4:30 pm
Cashier's Office: M-F 9 am - 4:00 pm

PAYMENT OF EXPENSES

Students are billed by mail following registration. Several payment options are available:

1. Pay on-line with a credit card (Visa, MasterCard and Discover)
2. Make checks and money orders payable to UMBC and mail to: P.O. Box 8700,
    Wilkes-Barre, PA 18773-8700
3. Pay in person at the Cashier's Office during regular business hours
4. Drop payments off in the night depository when the Cashier's Office is closed.
5. Payments must be in an envelope and clearly reference the student's name and     account number.

Please Note:

1. Student’s name and account number/Campus ID must be referenced on all payments.
2. Checks should be made payable to UMBC.
3. UMBC does not accept payments over the telephone.
4. Online payments, mailed payments and night depository payments, generally take 2     business days to post to student accounts.
5. Payments made in person at the Cashier’s Office post immediately.

IMPORTANT BILLING INFORMATION - EBILLS ARE HERE

Paper bills will be discontinued effective Fall 2006. All bills will be sent electronically (ebills). Students are required to sign-up for ebills. Please go to the link below for more information and to sign-up for ebills. http://www.umbc.edu/ebilling.

MONTHLY PAYMENT PLAN

A monthly payment plan is also available for those who prefer to schedule monthly payments to pay for tuition, fees, board and lodging on an interest-free basis. There is a nominal enrollment fee. For more information please contact Advanced Education Services Inc at 1-800-551-2773 weekdays from 8am-6pm EST or go to http://www.aeswebaccess.com//umbc.

APPLICATION OF FINANCIAL ASSISTANCE

In cases where a student has been awarded a loan, grant or scholarship, the award amount will be credited to the student's account. If the financial assistance exceeds the amount owed, a refund check will be generated to provide the remaining balance to the student. Refund checks will be mailed directly to your mailing address. It is the student's responsibility to ensure that their address in the Student Information Database is accurate. Address changes can be requested via MyUMBC.

DISBURSEMENT OF STUDENT LOANS

Disbursements of student loans are typically issued via EFT (electronic funds transfer). EFT disbursements are automatically credited to the student's billing account provided all eligibility requirements are met.

Students are sent an email informing them of EFT credit. Refunds will be sent directly to the student's mailing address. PLUS loan refunds will be sent to parent's address. Students expecting paper loan checks from Stafford or Alternative loans will be notified electronically of the availability of the check. PLUS loan paper checks are mailed to parents for endorsement and must be returned to UMBC promptly to be credited to the student account.

Students accepting Federal Perkins Loans must complete an On-line Entrance Interview and sign a Master Promissory Note in Student Billing prior to the first disbursement of their loans. In addition, students accepting Federal Stafford loans must also complete an on-line Stafford Loan Entrance Counseling Interview as well as sign their Master Promissory Note with their lender before loans can be disbursed.

TUITION WAIVERS AND REMISSION OF FEES

Students eligible for faculty/staff partial tuition waivers and remission of fees must present their request forms no later than the end of the second week of classes to Human Resources. Forms may be obtained from departmental offices or Human Resources. Graduate Assistantship forms must be submitted to the Graduate School Office (AD 211) by the deadline established by the Graduate School.

The University reserves the right to make such change in fees and other charges as may be found necessary although every effort will be made to keep the cost to the student as low as possible.

STUDENT FINANCIAL RESPONSIBILITY

Each student is responsible for the fee information contained in the UMBC Catalog. A synopsis follows:

Tuition should be paid by the due date printed on the bill. A late payment fee will be assessed if the bill is not paid within twenty business days (including holidays) of the due date. Students will not be allowed to register for a new semester until all prior semester debts have been paid. In addition, requests for services, i.e., transcripts and diplomas, will be denied until all debts are paid.

Any account not paid in full will be sent to the Central Collection Unit of the state Department of Budget and Fiscal Planning. CCU has the right to confiscate the state tax refund of any student and to apply the refund to outstanding debts at the University. Accounts transferred to CCU will be reported to the Credit Bureau. Accounts turned over to CCU will be assessed a minimum collection charge of 17% plus attorney and court fees if applicable. The University and Central Collection unit reserves the right to make changes in fees and other charges as may be found necessary. These fees are the responsibility of the student. Once an account is sent to the Collection Unit, all correspondence and payments must be directed to the Central Collection Unit.

To officially withdraw from the University, undergraduate students must file a withdrawal application in the Office of the Registrar. Graduate students seeking to withdraw should contact the Graduate School Office (AD 211). The date the signed Withdrawal Application is accepted will be used in computing any refunds. A stop payment of a check, failure to pay your tuition bill, or failure to attend class does not constitute withdrawal from the University, nor will these actions void any charges.

REFUNDS FOR CANCELLATION OF REGISTRATION

Students who cancel their registration prior to the first day of classes will be credited with a 100% refund of tuition. Refund checks will be issued where this results in a credit balance.

REFUNDS FOR WITHDRAWAL FROM CLASSES

Students who withdraw from ALL Fall 2007 classes will be credited with tuition refunds as follows:

Withdrawal Completed During	Percent Refunded
First 2 Weeks of Classes (8/29/07- 9/12/07)	80%
Third Week of Classes (9/13/07-9/19/07)	60%
Fourth Week of Classes (9/20/07-9/26/07)	40%
Fifth Week of Classes (9/27/07-10/3/07)	20%
Sixth Week -Last Day to Withdraw (after 10/4/07)	0%

Note: Not all fees are refundable. Please refer to the Fall 2007 Tution and Fees page for additional information.

TITLE IV FEDERAL FINANCIAL AID STUDENTS

The 1998 Reauthorization of the Higher Education Act requires that the university calculate a Return of Title IV Funds for all students that receive federal aid and withdraw (officially or unofficially) from all their classes on or before the 60% point of the semester. Withdrawal calculations will be performed for students who receive funds from one or more of the following programs:

• Federal Stafford Loans (Subsidized/Unsubsidized)
• Federal PLUS Loans (parent loans)
• Federal Grad Plus Loans (graduate/professional students)
• Federal Perkins Loans
• Federal Pell Grant
• Federal SEOG Grant
• Federal ACG/SMART Grants

Students receiving federal assistance have the responsibility of following the university’s withdrawal procedures as outlined in UMBC’s “Registration Procedures”. Students who wish to rescind their official withdrawal submitted to the Registrar, must do so within one week of the original withdrawal date–written notification must be submitted to the Registrar and the Office of Financial Aid and Scholarships. Students who stop attending all classes without officially withdrawing from the university are subject to a Return of Title IV Funds calculation at the end of the semester based on their last date of attendance as determined by to the Office of Financial Aid and Scholarships.

A Federal Return of Title IV Funds calculation differs from the institution’s refund policy. The federal calculation could result in the student owing money to UMBC, the US Department of Education (USDOE), or both. Students will be notified of any adjustments to their aid eligibility via email to their MyUMBC email address.

Students receiving federal aid are encouraged to contact the Office of Financial Aid and Scholarships before withdrawing to discuss the impact that withdrawal may have on their aid eligibility.


REFUNDS FOR DROPPED CLASSES

Students may drop classes (and remain enrolled in other classes) using MyUMBC through November 7, 2007. No tuition refunds will be processed for classes dropped after September 12, 2007. Classes dropped by undergraduate students after September 26, 2007 will be recorded on the student's transcript with a grade of "W." Classes dropped by graduate students after September 12, 2007 will be recorded on the student's transcript with a grade of "W."

Undergraduate students who have registered for twelve credits or more and who drop to fewer than twelve credits by August 29 , 2007 will be billed on a part time basis for the remaining credits. If the reduction of credits is made during the first two weeks of classes (August 29-September 12, 2007) the student will be billed for the remaining credits plus $10.00 (change registration fee).

Undergraduate students who have registered for fewer than 12 credits and who drop classes by August 29, 2007 will be billed for the remaining credits. If the reduction of credits is made during the first two weeks of classes (August 29-September 12, 2007) the student will be billed for the remaining credits plus $10.00 (change registration fee).

Graduate students who drop classes by August 29 , 2007 will be billed for the remaining credits. If the reduction of credits is made during the first two weeks of classes(August 29-September 12, 2007), the student will be billed for the remaining credits plus $10.00 (change registration fee).

Adding/Dropping credits after the first two weeks of classes (August 29-September 12, 2007): Students will be billed for all classes dropped and added after September 12, 2007 plus $10.00 (change registration fee). There will be no refunds for reduction of credits made after September 12, 2007.

Questions about Billing? Go to www.umbc.edu/bursar or email bursar@umbc.edu.

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