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Deferred Payment Policy

Purpose

The purpose of this policy is to outline various payment plans to assist students meet their financial obligations to Columbia College. 

Scope

This policy applies to all students at Columbia College.  

Policy

If full payment is not possible, students may be placed in a deferred payment plan. The arrangement requires payment of a pre-determined installment of the personal payment portion at the time of registration. The student must enroll in a deferred payment plan for the remaining personal pay portion with a maturity date no later than the last day of the session before registering for a subsequent session. Deferred payment plans are valid for only one session/semester and must be requested for each individual session/semester. Missed payment plan installments may result in assessment of late payment fees for each missed payment. In addition, a finance charge may be assessed against the outstanding balance of the student’s account at the end of each eight week session or at the end of the 16 week semester.

  

Students with pending financial aid are required to enroll in a deferred payment plan. The plan will show the entire balance due by a specific date, which will be near the end of the session/semester. However, the plan will become paid off when financial aid is posted to the student account, and no out of pocket payment should be due from the student. If financial aid is cancelled/reduced and no longer will cover 100 percent, then payment would be due from the student by the listed due date.

 

Day Campus Students may be eligible for the four-installment (per semester) plan. This plan allows students to make payments for each semester in four installments. There is a fee charged to defer payments, which can vary by the payment plan(s) available. Fall payment due dates: July 31, August 31, September 30 and October 30. Spring payment due dates: December 28, January 31, February 28, and March 31.

 

 Employer Tuition Assistance

Students who receive employer tuition assistance may have the costs of educational expenses paid by their employer through direct billing or through reimbursement. Students should check with their employers to determine which plan is appropriate for them.

 

1.    Direct Billing: A student whose employer offers direct payment to the College must ensure that the College receives a letter from the employer which authorizes and describes the conditions of such an arrangement. The letter must be on file in the Registration and Financial Services Office.

 

2.    Reimbursement: A student attending under employer reimbursement is required to follow the standard payment policy and then receive reimbursement following guidelines established by his/her employer.

  

Under either form of tuition assistance, students are responsible for any portion of the educational fees not paid by their employers. Students whose employers have contingencies on payments (such as attaining a certain grade) are required to pay as if they did not have employer tuition assistance and will be reimbursed after the employer makes payment.

 

 Military Tuition Assistance

Students receiving military tuition assistance (MTA) are required to present an approved MTA form at the time of registration. Students are personally responsible for any tuition or miscellaneous fees not paid by the military and are required to follow the standard payment policy for their portion of educational fees. Students may not register for a subsequent session if they have a balance due from previous sessions. It is recommended that military students contact the appropriate educational services officer for guidance and assistance in completing MTA paperwork.

 

Veterans Educational Assistance

An individual who is currently serving or has served in our nation’s armed forces may be eligible for educational assistance from the Veterans Administration (VA). Eligible students must complete paperwork required to establish VA eligibility at the time of registration. The VA pays benefits directly to eligible individuals. Students receiving VA benefits are, therefore, personally responsible for payment for all of their educational fees and are required to follow the standard payment policy of the College.

 

Special Education Tuition Reimbursement

Pending state funding, tuition reimbursement for Missouri students may be available from the Missouri Department of Elementary and Secondary Education for paraprofessionals and contracted certified teachers who qualify and take courses in the area of Mild/Moderate Cross Categorical Special Education. Additional information is available from the MAT Graduate Program Coordinator.

 

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