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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 2014-15 Academic Year

Tuition $42,220
Fees $ 280
Room $4,320
Meals (full meal plan-required the first year) $3,150
Total Direct Costs
$49,970


 
Health Insurance-Domestic (estimate)* $2,254
Books and Supplies (estimate) $1,000
Personal Expenses (estimate) $1,300
Total Indirect Costs
$4,554


* all international students must purchase the College's health insurance plan at an estimated cost of $1,248 for the full year

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 2014                June 13, 2014                     August 8, 2014
Spring 2015            November 24, 2014             January 2, 2015

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 $150.00 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 the Accounting Office.  Based on the first letter of the student’s last name, please direct your inquiry to one of the following:

A-G                                     H-O                                 P-Z

Sharon Denu                       Carol Belke                      Sharon Denu
(608)363-2207                    (608)363-2224                (608)363-2207
denus@beloit.edu             belkec@beloit.edu          denus@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.

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.