The Business Office is located on the first floor of the Mount Aloysius College Administration Building in Room 124. Office hours are 8:30 a.m. to 5:00 p.m., Monday through Friday. Questions or comments relating to Business Office operations can be submitted via email to email@example.com or you can call 814-886-6368.Financial Arrangements
Students must complete financial arrangements prior to admittance to classes and residence halls. Financial arrangements are completed through the Business Office by taking the balance on the student’s account, deducting financial aid, and paying the balance, if any. An outstanding balance from a previous semester must be paid in full. A payment plan is available.
When financial arrangements are complete, a student’s account has been “cleared” through the Business Office, and the student is officially registered at the college. Classes change from “scheduled” to registered.
The college accepts MasterCard, Visa, Discover, American Express, and Check Card credit transactions.
Semester course and fee balances are to be paid and cleared by the semester due date. The due date appears on the instruction postcard sent to each registered student.
Books may be purchased at the campus bookstore and are in addition to the cost of tuition.
Timely Book Allowance
Beginning with the Fall 2011 semester, Mount Aloysius College offers a book store voucher to all qualifying students who will have a Title IV refund. A Title IV refund occurs when the amount of the Title IV funds a student is eligible for exceeds allowable charges the College has assessed. The College will make the credit balance available to the student in the form of a book store voucher by the seventh day of the semester.
Qualifying students must meet all of the following criteria:
- The student is Pell grant eligible
- The student’s Title IV aid (Pell grant, FSEOG grant, Perkins Loan, Direct Subsidized and Unsubsidized Loan and Direct Parent PLUS Loan (if applicable) exceeds the colleges charges (tuition, fees, room and board)
- The student’s financial aid file must be complete and have no conflicting or missing information. For example, verification (if applicable), Master Promissory Note (MPN), Entrance counseling, etc. must be complete.
The amount provided to the student in a book store voucher will be the lesser of the anticipated credit or the amount the school determines the student will need.
The college will charge a late fee of $50 to a student’s account if the semester billing is unpaid or not cleared by the due date.
From time to time situations occur when a student needs to withdraw from the college. This can occur for a variety of reasons. Prior to withdrawing from Mount Aloysius, ask a Financial Aid Officer how it will alter your financial aid and the business office how it will alter your bill.
When a student officially withdraws from the College before completing the period of enrollment for which they were charged, a loss of financial aid may create a balance due on the student’s account. In certain circumstances the student may be entitled to receive a partial credit of tuition and fees.
The date of withdrawal will be the date that the student notifies the Registrar’s Office of their intent to withdraw. A withdrawal is considered official only after the completed withdrawal form has been processed.
Students will be advised to meet with the Office of Student Success and Advising prior to withdrawing and all withdrawal forms must be completed through the Registrar’s Office. Official withdrawal forms must be retained in the student’s permanent file located in the Registrar’s Office. Non-attendance does not constitute an official withdrawal.
Students who drop below twelve (12) credits after the first week of the semester will not have their tuition re-calculated based on part-time status.
Tuition and Fees may be credited as follows:
Official Withdrawal Occurring Anytime During:
Basic Tuition and/or Board Credited to Account:
|Before or During the 1st Week of School||100%|
|During the 2nd & 3rd Weeks of School||80%|
|During the 4th & 5th Weeks of School||60%|
|During the 6th & 7th Weeks of School||40%|
|8th Week and Beyond of School||0%|
Room and Board will follow the same refund calculation as the tuition and fees.
When a student withdraws, all Unfunded Institutional Grants/Scholarships awarded will be reduced based on the same percentage scale as the tuition and fees refund calculation.
Withdrawing from Modules (8-week sessions)
Students enrolling in modules who will be using financial aid must sign up for all classes they will be taking for all of the sessions. If a student signs up for all sessions, they are expected to attend and complete all sessions. If the students ceases to attend a course for which they were scheduled to attend, and they are not enrolled in any subsequent modules/sessions, the student will be considered a withdrawal and a Return to Title IV Funds calculation will be performed. A week is defined as Monday to Sunday for all online courses.
Students who withdraw from summer courses prior to the first class will receive a 100% refund; prior to the second class, 95% refund; prior to the third class, 90% refund; prior to the fourth class, 50% refund; after the fourth class, no refund. Registration fees for summer courses are refunded only when a course is canceled.
A College Payment Plan is available to assist students in meeting their financial obligations. Payment plans can be set up on the MyMAC Portal Page using the Cashnet link or by calling the Business office at 814-886-6368. A non-refundable fee of $75 is due with the first installment payment. All eligible financial aid, including grants and loans, will be applied prior to calculating the amount due. First installments are due on the initial stated due dates. The College reserves the right to refuse a payment plan to any student who has not met prior payment agreements.
Federal Stafford and Plus Loans
Stafford and Plus loans will be credited to student accounts when received, provided students have completed borrower authorizations and entrance interviews. Federal regulations require that first-time borrowers attend an entrance interview prior to receiving credit for loan proceeds.
Borrowers have the right to cancel their loans. Cancellation requests must be in writing and received by the Financial Aid Office either before the payment period or within 14 days of receiving notification that the loan proceeds were disbursed to the college.
Federal regulations limit PLUS loan amounts to a student’s cost of attendance less other financial aid. Therefore, the college accepts only bank approved and college certified PLUS loan applications.
Learn more with our Net Price Calculator
How should I pay my bill?
Payments can be made online, in office, over the phone with a credit or debit card or via US mail. Estimated financial aid from the financial aid award letter should be deducted from the balance to determine the amount owed, if any. Proceeds from Stafford and PLUS Direct Loans will be 1.5% to 4.5% less than the stated due to fees that are deducted prior to loan disbursement. Watch this video for instruction.
I have already “cleared” my bill to attend class, but my online statement doesn’t show my financial aid. Do I really owe this much money?
You should review your online statement frequently. This statement will show your account activity up to the date of the statement. Financial aid awards will not appear on your statement until eligibility is confirmed.
What if my financial aid changes?
When you “cleared” your account through the Business Office for the current semester, the outstanding balance was based on the estimated financial aid awarded to you at that time. If your aid is reduced due to withdrawals from registered classes or for any other reason, you will be required to pay the difference.
When will I get my refund?
A refund is issued whenever an account shows a credit balance. Typically this does not occur until six to eight weeks into the semester when all financial aid is received.