General Financial Information

A. Billing and Account Information

A student account, assigned by student identification number, shall be established for each student at the initial registration. All billings for tuition, housing, and other campus charges and fees will be charged to this account. Statements of account are available for the student’s information on the seminary website at all times. Please take care to check your account on a regular basis. It is the student’s responsibility to check for errors.

Tuition for the summer sessions must be paid in full at the time of registration. Student accounts must be paid in full by:

  • September 30 – fall semester
  • February 29 – spring semester
  • February 29 or at time of registration, if later – summer sessions

Housing payments are due on September 30 and Feburary 29, or the first day of the month if a financial plan is filed with the Financial Services Office.

Payments after these dates will be subject to a late payment fee of $50.00 per month. Accounts must be current before registering for the following session.

Failure to meet this requirement will also mean loss of apartments in seminary housing.

The financial services office is designated for handling payment transactions. A schedule of hours of availability will be posted. Checks may also be put in the slot for payments (located in the Financial Services Office Door) or left with the receptionist at any time.

NOTE:
Degrees will not be awarded, nor will a transcript be provided until all financial obligations have been met. Also, a student owing the seminary money may not register for courses or march in the graduation ceremony. The seminary will not provide a candidacy recommendation for a student who owes monies to the seminary.

B. Canadian Subsidy Policy
In order to assist Canadian Students studying at the seminary, we have instituted the Canadian Subsidy. This Financial Aid is intended to help offset expenses that are unique to Canadian students. The subsidy is applied to the student account each semester as long as the following criteria are met:

Criteria:
1. The student has certified that 50% or more of the money used to finance his/her education is coming from a Canadian source.
2. The student has provided documentation of his/her classical aid.
3. The students account must be current for that semester.

C. Payment of Scholarships

The amounts awarded for scholarships will be credited to the student accounts each semester, spread evenly over Fall and Spring terms, by the Financial Aid office. This scholarship may represent taxable income to the recipient. The amount of your scholarship is reported to the government on a calendar year basis. In accordance with the existing federal tax treaties with other nations, the financial services department will withhold from the scholarship, and remit to the government, the required federal tax on behalf of the student. This tax will be charged against the student’s account (as defined in “A”).

Recipients of scholarships and awards are expected to contact, in writing, the person or persons who made the award possible. The letter need not be long – just from the heart. Such a letter will be received with appreciation and will deepen the relationship between the seminary and those who have established the award. Recipients of scholarships and awards are also expected to attend the seminary’s annual Scholarship Dinner. At this dinner scholars and benefactors have the opportunity to meet one another.

D. International Student Awards
The awards and other grant amounts for housing, food and living expenses will be credited to student accounts in equal semester installments, July through June for each academic award year. Tuition awards will be credited, similarly, tuition charges are recorded, up to, but not in excess of, the lesser of actual tuition or the amount of the award. If direct payments are involved, i.e., health insurance, the student’s account will be charged.

Student accounts will be charged for income taxes paid on behalf of students to federal, state and local authorities. The Seminary will deposit federal tax money on behalf of the student, therefore, all tax refunds, resulting from tax filing, will be returned to the student by the government. If the deposited amount of tax is below the actual tax, the student is responsible for the amount due. Transportation awards will be credited to student accounts for reimbursement of travel expenses actually incurred, up to, but not more than, the amount of the award.