The Financial Information Bulletin is issued each academic year. It provides the general authority and reference for SMU financial regulations and obligations, as well as detailed information concerning tuition, fees and living expenses.
Prior to enrolling each semester, students are required to review and agree to a statement of Student Rights and Responsibilities that is comprised of three parts: Financial Rights and Responsibilities, Honor Code and Student Code of Conduct, and Appeals and Complaints. The Student Rights and Responsibilities statement for a term will be available approximately one month before enrollment opens for the term. A printable PDF version of the statement may be found at the Student Rights and Responsibilities website.
Students must ensure that payment for the full amount of charges is posted to their account by the payment due date showing on their bill. The due dates are also published on the Bursar website.
Billing notifications are sent to the student’s SMU email address and to the designated authorized payer(s) email address when a bill is generated. The billing notification will provide instructions on how to view the bill online through SMUpay. If notification is not received two weeks prior to the due date, the student and/or designated authorized payer(s) should contact the Office of the University Bursar.
Payments made in person or mailed must be received by the Office of the University Bursar, located on the first floor of the Laura Lee Blanton Student Services Building, no later than 4 p.m. Central Time on the payment due date. Payments made online via electronic check or credit card must be posted no later than 11:59 p.m. Central Time on the payment due date. Students and/or those paying on behalf of students who pay online automatically receive an electronic confirmation of payment; students and/or designated authorized payer(s) paying through other methods can also verify receipt of payment online.
Students enrolling after the payment due date must pay at the time of enrollment. Students whose accounts are not cleared by the payment due date will become delinquent and financial holds placed, preventing from registering for future terms, obtaining official transcripts or receiving a diploma. Also, after the monthly payment due date has passed, a 1.5 percent past due fee will be assessed on the unpaid student and/or miscellaneous account each month until the balance is paid. The enrollment of students whose accounts remain unpaid after the payment due date may be canceled at the discretion of the University. Students are individually responsible for their financial obligations to the University.
All refunds except federal parent PLUS loans, prepayment accounts, the SMU Monthly Payment Plan and international wires will be made payable to the student. A credit card payment will only be refunded to the student if the other refundable credits or loans applied to the account. International wires will be refunded by wire to the originating wire account less a $35 wire-processing fee. The parent PLUS loan borrower can request the refund to be processed to the student by submitting a UG Parent PLUS Loan Refund Release form, located on the Bursar website. If the refund is issued by check, the student may request, in writing, that the refund be sent to another party.
Any outstanding debts to the University that include Title IV funds must have an Authorization to Credit Account (ACA) form and/or an Authorization to Credit Account Parent (ACAP) form on file in order to transfer funds to cover current award year debts. Students need to sign the ACA form electronically; both the federal parent PLUS borrower and the student need to sign the ACAP form electronically.
Any outstanding debts to the University that do not include Title IV funds will be deducted from the credit balance prior to issuing a refund. All other debts should be paid directly by the student.
A student whose University account is overdue or who in any other manner has an unpaid financial obligation to the University may be denied the recording and certification services of the Office of the Registrar, including the issuance of a transcript or diploma, and may be denied readmission until all obligations are fulfilled. The Division of Enrollment Services may stop the registration, or may cancel the completed registration, of a student who has a delinquent account or debt. The University will charge a $50 collection processing fee (identified as “Recovery Select Fee” on the account), in addition to any other past due fees, to the account at the end of the term for unpaid balances. The unpaid account may be sent to a third party, collection company or an attorney, for collection. The student will be responsible for any costs (including but not limited to collection fees) associated with attempting to collect the monies due and owing. If a lawsuit is filed to recover an outstanding balance, student will be responsible for any costs associated with the lawsuit such as court costs or other applicable costs. A collection fee will be assessed and will be due and owing in full at the time of the referral to the third party. The collection fee may be calculated at the maximum amount permitted by applicable law but not to exceed 50 percent of the amount outstanding. The delinquent account may be reported to one or more of the national credit bureaus. Matriculation in the University constitutes an agreement by the student to comply with all University rules, regulations and policies.
Applications for financial assistance should be submitted well in advance of registration in accordance with recommended filing dates set forth by the Division of Enrollment Services, Office of Financial Aid. Applications received after the recommended deadline can expect a delay in application processing time due to the increased volume. This will ultimately delay disbursement of financial aid to the student account. Students and families are expected to clear all billed charged by the published billing due dates regardless of the status of their financial aid application. Any funds that disburse to the student account after the payment due date has passed, will be applied to any outstanding charges first. Remaining financial aid funds will be refunded to the student.
During the registration process, students will be prompted to read and agree to the Student Rights and Responsibilities, which provides information regarding financial rights and obligations, SMU’s Honor Code, the Code of Conduct, and the student appeals and complaints process.
Students who elect to register for courses outside of their school of record will pay the tuition rate of their school of record.
No refunds of tuition or fees will be considered without an official withdrawal. Policies for official withdrawal, including medical and mandatory administrative withdrawal, are found under Withdrawal From the University in the Enrollment and Academic Records section of this catalog.
Medical withdrawals and mandatory administrative withdrawals allow a prorated refund of tuition and fees and must be initiated through the Office of Student Success and Retention for undergraduate students; graduate students go through the academic adviser or academic Dean’s office.
Reduction of tuition and fees, when applicable, is determined by the effective date of the withdrawal and is based on the schedule listed in the Financial Information Bulletin and the SMU Bursar website.
Financial aid implications of withdrawing from the University
Federal regulations require schools to adjust financial aid when a student officially withdraws from the University before completing 60% of the term. Financial aid is reduced to a pro-rated amount based on the amount of time the student was enrolled in classes in that specific term, thus “earning” financial aid proportionate to the amount of time enrolled. The “unearned” portion of aid will be returned to the funding source. Students completing 60% or more of a term are considered to have earned 100% of their financial aid for that term. This federally mandated calculation is completely independent of university’s refund policies for withdrawals and may require a reduction in financial aid even if there is no reduction in tuition charges. The end result could create a substantial student account balance after the withdrawal is processed. For this reason, students are strongly encouraged to contact their financial aid adviser, before initiating a withdrawal, to discuss the financial implications of withdrawing. For additional information on the University’s tuition refund policies, see the SMU Financial Information Bulletin or the University Bursar’s website. Information on the implications of withdrawing on your financial aid can be found on the Office of Financial Aid website. Due to the assessment of student accounts by multiple offices, cancellations and withdrawals can take up to 45 days to be processed.
SMU Monthly Payment Plan
SMU offers several payment plan options to assist students and families. Refer to the Bursar’s website for detailed payment plan information: www.smu.edu/EnrollmentServices/bursar/Payments/PaymentPlanOptions.
Fall and Spring Term payment plans are available in 6-month and 5-month formats. The summer payment plan is three months. Payment plan options are not available for short terms including JanTerm, May Term, and August Term.
SMU Prepayment Plan
The SMU Prepayment Plan (a single payment up front for all terms) allows families to avoid the effects of tuition and fee increases by paying for two, three or four years in one single payment at the current rate of tuition and fees for an undergraduate full-time (12-18 credit hours) student. It covers Fall and Spring terms only. Questions should be addressed to Nohely Chavez at 214-768-4758 or nohelyc@smu.edu.
University grants, scholarships, fellowships and assistantships are awarded by the school or academic department in which the graduate student will enroll. Schools and academic departments offering master’s or Ph.D. degrees award several tuition scholarships and teaching or research assistantships each year. For more information, students should contact the appropriate school or department.
State funded loans and grants, private and federal loans, and employment programs may be available by filing the Free Application for Federal Student Aid. The FAFSA can be completed online at www.studentaid.gov. The SMU Title IV school code number is 003613.
More information is available online at www.smu.edu/enrollmentservices/financialaid.
While University-based grants, scholarships, fellowships and assistantships are not available to students in the Simmons School, the Simmons School does offer tuition scholarships and assistantships; students are encouraged to investigate tuition support opportunities with their program advisers. It is worth noting, as well, that the tuition rates for all of the master’s degree programs in the Simmons School are substantially lower than regular SMU tuition. More information is available at www.smu.edu/bursar.
|