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Student Billing FAQs: Frequently Asked Questions

Who do I call for questions about my account?
Student Financial Services can assist you with questions about your student account balance. They can be reached Monday through Friday 8:00 a.m.-5:00 p.m. in Moench (A102).

Local: 812-877-8296
In Indiana: 800-552-0725 ext. 8296
Outside Indiana: 800-248-7448 ext. 8296
Or contact Student Financial Services via e-mail


When can I expect to receive an invoice?
A student invoice will be mailed to both the student's campus mailbox and the student's permanent address approximately thirty days prior to the start of the quarter. These invoices will include all applicable charges and anticipated financial aid.


Will I receive statements on my account?
A student statement will be mailed to both the student's campus mailbox and the student's permanent address approximately ten days after the start of the quarter. Subsequent statements will be issued semi-monthly only on those accounts that have had activity since the last statement.


When is my payment due?

2009 - 2010 2010 - 2011
   Quarter: Due Date:    Quarter: Due Date:
Fall 10 : Aug. 28, 2009 Fall 11 : Aug. 27, 2010
Winter 10 : Nov. 20, 2009 Winter 11 : Nov. 19 2010
Spring 10 : Feb.26, 2010 Spring 11 : Feb. 25, 2011

All payments must be RECEIVED IN STUDENT FINANCIAL SERVICES
(MOENCH, A102) BY 5:00 P.M. ON THE DUE DATE!

There will be a $25.00 LATE FEE assessed on any outstanding balance remaining after the due date. Interest at one and one-half percent per month (18%APR) will be added to all accounts 60 days past due.


How can I make my payment?
Payments can be made in the Student Financial Services Office, (Moench, A102) between the hours of 8:00 a.m. & 5:00 p.m. Monday through Friday. Credit card payments can be made by call 812-877-8296.

On-line payments (credit card and e-checks) can now be made by utilizing the student's banner web account

Mailing address:
  Rose-Hulman Institute of Technology
  Campus Mail 21
  5500 Wabash Ave.
  Terre Haute, IN 47803
Or contact Student Financial Services via e-mail


Interest-Free Monthly Payment Option - Tuition Management Systems
If you would like to pay your education expenses monthly, use the Interest-Free Monthly Payment Option offered by our partner, Tuition Management Systems.  The payment option is available for a small enrollment fee and includes personal account service, automated account information 24 hours a day, access to your account through their web site, www.afford.com or contact them at 1-800-722-4867 with questions and discover the many ways they can help you afford education.


I'm using the Tuition Management System, why do I continue to receive statements?
The student will receive the semi-monthly statements to reflect the activity on their account. As long as a student continues to make regular payments to TMS, the student can disregard the amount due on their statement. At the end of the Spring quarter, if the student has overpaid the TMS program, a refund check will be issued. If the student has underbudgeted and still owes a balance on their account, a letter will be sent indicating the amount owed.


What do I need to know about my Financial Aid credits?
All financial aid awards, including scholarships and grants, are show as anticipated credits against the charges on your student invoice. These anticipated credits will become actual credits to your account approximately ten days prior to the first day of classes. These credits will be reflected on your first quarterly statement provided that all requirements for verification have been completed and that all promissory notes have been signed and returned to the Financial Aid office. Outside scholarships will be credited to the student's account only after the funds have been received by the Institute from the outside entity.


Where do I return the Promissory Note for the Federal Loan programs?
The promissory note(s) for all Federal Perkins Loans, Ford Federal Direct Stafford Loans, and Federal Direct PLUS Loans must be returned to the Financial Aid office before the actual credit can be given. Please note that the Federal Direct Stafford Loans have a 3% origination fee and PLUS Loans have a 4% origination fee that will be deducted from the amount borrowed. Therefore, the anticipated credits and actual credits will be 97% and 96% of the total amount borrowed, respectively.


How/when will my financial aid awards appear on my account?
Financial aid awards will be credited to the student's account and subtracted from institutional charges. One third of each award (the quarterly amount listed on the financial aid award letter) will be applied to the billed charges each quarter. If financial aid assistance exceeds billed charges, a refund check will be issued to be used for any non-billed expenses as they occur each quarter.

Exceptions:

  • Federal Work-Study Funds/Work-Opportunity Funds are paid to the student via payroll. They are never credited to the student's account.
  • A signed promissory note must have been received by the Financial Aid office in order for the loan proceeds to be applied as actual credits to the student account.
  • Outside awards will be credited quarterly unless our office receives written authorization from the donor specifying alternative disbursement instructions. The Financial Aid office must receive these funds before credit can be given.
  • The entire Hoosier Scholar Award will be credited to the Fall quarter billing.

When can I expect my refund?
If the financial aid credits exceed your quarterly charges, a refund of the excess proceeds will be processed and sent to the student after the tenth business day of the academic quarter. A refund of the excess PLUS loan proceeds will be made to the parent borrower unless permission is given to release these funds to the student.


Do I need the student insurance?
All registered students are required to show proof of health insurance. Beginning with the Fall quarter of each academic year, the student insurance premium will be added to the invoice. This premium can be waived by completing the insurance waiver form at https://banner.rose-hulman.edu/parwaiv-cgi/display.pl

This waiver must be completed at the beginning of each academic year. Students participating in the COOP or Studies Abroad programs must also show proof of insurance.


What if I have questions about my Laptop Computer?
Questions regarding the laptop computer can be directed to Erik Johnson, Laptop Implementation Coordinator 812-877-8933.


How will my Laptop Computer be billed?
The entire cost of the laptop will be placed on the Fall quarter invoice with the associated payment. If you should have questions regarding the laptop computer financing, please contact the Financial Aid office 812-877-8259 or visit their web-site.
 

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