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Costs, Billing, and Payment Plans

Costs

College costs are typically broken down into two categories - direct costs and indirect costs.

Direct costs are those for which students will be billed directly by the Accounting Office. These include tuition, fees, room and board. The Beloit College health insurance plan is also a direct cost for those students who are required (i.e. - international students), or choose, to purchase the plan.

Indirect costs refer to those expenses that students incur by attending college, but which are not billed directly to their account. Indirect costs include travel, books, supplies and other miscellaneous personal expenses which can vary considerably from individual to individual.

When calculating the cost of attendance and determining a family's financial need, the College takes into consideration both direct costs and and an estimate of indirect costs.

Costs for the 2015-16 Academic Year

Tuition $44,590
Student Activity Fee $ 280
Room $4,490
Meals (full meal plan-required the first year) $3,400

Health/Wellness Fees

Total Direct Costs

$180

$52,940



 
Health Insurance-domestic students (estimate)* $1,502
Books and Supplies (estimate) $1,000
Personal Expenses (estimate) $1,300
Total Indirect Costs
$3,802


* all international students must purchase the College's health insurance plan; domestic students may opt out with proof of comparable coverage

Billing

Direct costs of tuition, fees, room and board are billed by semester. The Accounting Office will send billing statements home at least one month prior to the beginning of each semester to provide adequate time for families to make payment arrangements.  With written permission from the student and custodial parent, the College will provide duplicate billing statements to non-custodial parents, trusts, or other interested third-parties.

Semester              Billing Date                      Payment Due Date

Fall 2015                June 26, 2015                     August 14, 2015
Spring 2016            November 20, 2015             January 4, 2016

The statement will include charges for tuition, fees, room, and board; as well as credits for any financial aid, including grants, scholarships, student loans, and/or parent(s) loans.  Please note, there will be a $160.00 late payment fee for accounts paid after the due date.

If you have questions about the account statement or wish to discuss payment arrangements, please direct your inquiries to Sharon or Jenny in the Accounting Office.

Sharon Denu                      
(608)363-2207                   
denus@beloit.edu            

Jenny Eggen
(608)363-2239
eggenj@beloit.edu 

Payment Plans

For students and parents wishing to pay on a monthly basis, the College endorses the use of Tuition Management Systems (T.M.S.) as our third-party payment plan option.  If you wish to make monthly payments you can do so through the T.M.S. website, or by phone at (888)572-8985. The payment plan runs up to twelve months, from May through April.

Additionally, the College now offers “one time” payment options through T.M.S.  The “one-time” pay-in-full option allows you to make your education payment using a credit card (MasterCard, Visa, Discover or American Express) or automatic bank account deduction.  Please be aware that a convenience fee between 2% and 3.5% of the amount charged will be added to each credit card transaction, while a $5.00 flat fee will be added to each automatic bank account deduction payment.   If you would like to make an online payment for your balance due, simply go to the T.M.S. website, www.afford.com/beloit, and click on the “pay-in-full” link to complete the transaction.