General Financial Information

  1. 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 final (August) summer session must be paid in full at the time of registration. Student accounts must be paid in full by:

    • October 15th - fall quarter
    • January 15th - winter quarter
    • April 15th - spring quarter
    • August 15th - summer sessions

    Housing payments are due on the first day of the month.

    Payments after these dates will be subject to a late payment fee of $5.00 per month. Accounts must be current before registering for the following quarter or summer 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.

    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.

  2. Canadian Rebate Policy

    A rebate of the actual exchange of Canadian to U.S. dollars will be provided to students who are Canadian citizens for paid unsubsidized tuition (for seminary-required courses) for all four academic quarters according to the following policy. An averaged Canadian to U.S. exchange rate will be calculated for the related period. Rebates are NOT applicable for tuition payments made beyond the last date of payment in the quarter as specified above, nor for any other charges of fees applicable to the student, nor for tuition from a previous quarter, nor for courses taken at any other institution, nor for subsidized tuition. The rebate will also include living expenses differential of $250 U.S. dollars per quarter where the student lives in the United States in the tuition rebate calculation as shown in the following calculation example.

    Requirements

    The student must be a Canadian citizen. The student must receive more than ½ of his or her support from Canada and sign documentation to that effect (see financial aid office for required form). The student must incur unsubsidized tuition charges. The entire student account, (as defined in "A" above), must be paid in full. You should call financial services prior to the due date to verify your account balance. Remember that rent is due on the first of every month, and tuition on the 15th of the month after registration. (Administrative Committee Minute #1716, 07/01/99) (Revised 2001, 2002)

    Calculation
    ExampleSampleYour Worksheet
    Add in Unsubsidized Quarter Tuition 1800.00 _______
    Less U.S. Scholarships 500.00 _______
    Add in Living allowance ($250 per policy) 250.00 250.00
      Sub-total: 1550.00  
    Multiply Average Canadian Exchange Rate 0.11 _______
      Total rebate for quarter 170.50  
  3. Payment of Scholarships

    The amounts awarded for scholarships will be credited to the student accounts quarterly, spread evenly over Fall, Winter 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. For this year, the dinner is scheduled for Tuesday, October 25, 2005.

  4. International Student Awards

    The awards and other grant amounts for housing, food and living expenses will be credited to student accounts in equal monthly installments, July through June for each academic award year. Tuition awards will be credited, as 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. Awards for books and supplies will be paid to students evenly over the Fall, Winter and Spring terms.

    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 federal tax filing, will be returned to the student by the government. 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.