New payment plan options announced

Students enrolling at Morehead State University for the 2010 fall semester will see some procedural changes in how tuition and fees are paid. Students will continue to have access to their billing statements and other pertinent information, all from one’s personal MSU account.

Students create a financial obligation to Morehead State when they register for classes. The total semester charges—including tuition, housing, meal plans, books and fees—less financial aid, scholarships or third-party payments, result in the amount for a payment plan.

“We are excited to offer these payment plans to give students options,” said Carol Ford, assistant director for student services in the Office of Accounting and Financial Services. “This should speed up the enrollment process and allow it to move faster and in a more efficient manner. If students cannot pay in full, they will now have the option to sign up on a fixed payment plan and know their University obligation by logging on to their MSU account.”

Following the 2010 summer sessions, MSU will implement two plans for paying fees and eliminate the Statement of Intent. One week prior to the start of classes, all students must make payment in full or enroll in a payment plan to prevent their schedule from being canceled.

Enrollment in the Standard Payment Plan will be available beginning July 1. The enrollment fee is $40 for a net balance of less than $1,000, or $75 for a net balance of $1,000 or more. The financial obligation will be determined by the student’s expenses less financial aid or scholarships awarded. The amount will be divided into three payments which will be due in August, September and October. The enrollment fee and first payment will be due at the time of enrollment.

Students must register prior to the first day of classes to avoid a $75 late registration fee. Students must make payments on time to avoid a late payment charge at the monthly rate of 0.65 percent on outstanding balances and to avoid a hold being placed on their account.

Recipients who are eligible for and awarded financial aid to cover their entire obligation are required to enroll in the Financial Aid Pending Plan one week prior to the start of classes to avoid cancellation of class schedules. There is no enrollment fee.
Any changes in financial aid, tuition, books, meal plan or other charges, will be automatically reflected in the billing statement and result in an increase or decrease in the monthly bill. Students may elect to pay an amount greater than the amount due or the entire balance in full at any time.

Students who have had their schedules dropped will have until the last day to add a class (Aug. 31), to reregister and pay in full or enroll in an online payment plan. One week after the last day to add a class (Sept. 7), there will be final schedule drop for all students who have not enrolled in a payment plan or paid their balance in full.

The enrollment process also will include a change in how refund checks will be disbursed. Checks will not be disbursed until after all financial transactions are complete. Two weeks after the beginning of classes, checks will be direct deposited or mailed to the address the student has on file with the University. Checks will not be available for pick up.

Information on student refunds, including direct deposit, is available on WebAdvisor, located at www.moreheadstate.edu. The University will distribute monthly e-bills with the amount owed and with detail of any changes made to the account.

“We want our students to fully understand the financial obligations created with University enrollment,” Ford said. “we now have available current detailed billing information that each student can access through WebAdvisor. We encourage our students to review that account information at least monthly. Regular review of this information, reporting any discrepancies, and taking action to keep their account in a current status, will help our students develop financial management skills that are valuable throughout life.”

Posted: 4-14-10