Tuition Payments and Finances
Related checklist items
- June 28 – Billing statement sent
- July 31 – Verification forms
- August 1 – Beloit, Strong, Direct and PLUS loan counseling and Master Promissory Note (MPN) due
- August 9 – Tuition payment/payment plan due
- August 19 – Documents required by the Payroll Office and/or the Financial Aid Office for work eligibility
- August 26 – Tuition insurance plan (optional)
Paying your tuition
Beloit College has partnered with Tuition Management Systems to offer a billing enhancement that will allow families to manage education expenses in a 24/7 online Student Account Center. This online website will allow you to retrieve your e-billing statement, view up-to-the-minute account activity, make payments, and enroll in an optional semester monthly payment plan.
What to Expect: An email will be sent from TMS on behalf of Beloit College from email@example.com to your Beloit College email address to register for access to the Student Account Center (SAC). You should expect to receive this email by mid-June.
After logging into the Student Account Center, you will have access to a web page that will offer the following features:
- Account Summary Data – available 24/7 with real time updates, including financial aid.
- Account Activity – also available 24/7 with real time updates.
- E-Statements – View account statement.
- Payment Plan Options – Payment plans start July 15th for Fall 2019 and December 15th for Spring 2020.
- Pay in Full Options – Make a one-time payment via e-check or credit card.
- Ability to Share Account Access – Select “Manage Account Access” and share access with additional family members or other participants who are critical partners in your college billing process. An email with activation instructions will be sent to the invited participant. Due to Federal student privacy regulations (FERPA), the student must register first before access is granted to other users.
- Tuition Insurance – View tuition reimbursement policy and the offer to protect your tuition investment in the case of withdrawal with tuition insurance. (Purchase of this insurance is optional).
The Bursar’s Office will send your fall semester e-bill to your Student Account Center for your retrieval no later than June 28, 2019. Paper statements will not be mailed. Payment is due by Friday, August 9, 2019.
Please be sure your student name and student ID number appear on checks. To get your ID number, log into the Portal, hover over your name (upper right hand corner), click on “Personal Information” and then click on the “Biographical Information” tab.
Make checks payable to “Beloit College” and mail to:
Beloit College Student Billing
700 College St., Box 33
Beloit, WI 53511
Monthly Payment Plans (TMS)
You will need to register for your Student Account Center at beloit.afford.com to enroll in a payment plan. TMS offers monthly payment plans to allow you to spread your education expenses over smaller monthly installments that are paid over the course of the semester. Though many families take advantage of the optional payment plan, it is not required.
TMS Semester Payment Plan Options ($45.00 enrollment fee per semester)
- Beginning in July – 5 payments due on the 15th of the month
- Beginning in August – 4 payments due on the 15th of the month
- Beginning in September – 3 payments due on the 15th of the month
- Beginning in December – 5 payments due on the 15th of the month
- Beginning in January – 4 payments due on the 15th of the month
- Beginning in February – 3 payments due on the 15th of the month
You may make online payments by logging into your Student Account Center (SAC) or at beloit.afford.com/paynow and selecting “Student Account Payment” from the dropdown.
- Make a one-time payment – eCheck (Transfer from checking or savings account) - No fee
- Make a one-time payment – credit card (Visa, MasterCard, Discover, American Express) - 2.99% convenience fee or $1.00 minimum
Beloit College has partnered with Flywire to provide international students with an easy and secure method to make international payments. As the leading payments processor for educational institutions all over the world, Flywire delivers students’ tuition payments quickly, easily, and securely. To make your payment with Flywire, please visit beloit.flywire.com.
With Flywire you can:
- Track your payments from start to finish
- Make payments in more than 140 currencies, online and from banks worldwide
- Other available payment methods include international credit and debit cards, and other international payment options that vary by country
- Save on bank fees and exchange rates
- Enjoy peace of mind with dedicated multilingual customer support
- Ensure accurate and timely posting of your payment to your student account
If your payment is late, you’ll be charged $175 unless you’ve made prior arrangements with the Bursar’s Office. Late payments may also result in not being able to register for classes or receive transcripts.
If you have questions about your student account, please contact the Bursar’s Office at 608-363-2224 or firstname.lastname@example.org.
Tuition insurance program
Beloit College offers an optional tuition insurance program. The Tuition Refund Plan through GradGuard provides coverage for tuition, fees, room, and board if you are required to withdraw from school due to a medical or mental health illness before the semester is complete. The program is designed to supplement Beloit College’s standard refund policy.
This spring, you should have received information, both by mail and in your application portal, about any financial aid you’ve been awarded. Additional communication about your financial aid will come to you via your Beloit College email.
Students who have filed a Free Application for Federal Student Aid (FAFSA) are eligible to borrow a Direct Loan. The Direct Loan program allows students to borrow a fixed amount each year, determined by grade level, up to the maximum aggregate total. The loan(s) may be subsidized or unsubsidized, depending on your eligibility. If you wish to accept a Direct Loan, you must complete the Master Promissory Note (MPN) and Entrance Counseling at studentloans.gov.
Beloit College and Strong Loans
The Financial Aid Office will evaluate a student’s demonstrated need during the financial aid process. A loan will be included in your financial aid package, if you’re eligible. If you wish to utilize the Beloit College Loan or Strong Loan, you must complete the necessary steps to accept the loan with our loan servicer, University Accounting Service at signmyloan.com. You will create an account using your Beloit email address, then you will be presented with the steps necessary to complete the loan acceptance process. You should complete this process during the summer prior to the start of classes.
Direct Parent Loan for Undergraduate Students (PLUS)
The PLUS allows a credit-worthy parent to borrow up to the difference between a student’s total cost of education and any aid that has been offered. If your parent wants to borrow a PLUS, your parent must apply for the loan and complete the MPN at studentloans.gov. Your parent should begin this process during the summer prior to the start of classes.
Federal Work Study, campus employment, and finding jobs
All financial aid awards now include work: either Federal Work Study or campus employment. You are encouraged to find a position within the first three weeks of class. Available positions will be posted online throughout the summer. Most positions pay Wisconsin minimum wage ($7.25/hour). More varied opportunities may exist after your first year.
It is your responsibility to seek and secure work on campus.
The student employment website is the primary source of position listings, though we encourage you to network with departments as soon as you arrive (or even prior to arrival).
Applying your earnings to your tuition balance
You can opt to have your earnings from your on-campus job automatically applied as a payment toward your tuition. We will help you set this up on move-in day when you complete your direct deposit form. If you do not apply your earnings to tuition, or if your student account does not have a balance due, your earnings will be deposited into your bank account each payday to help cover indirect costs like books or travel.
Beloit College processes student payroll twice each month. You will be paid on the 15th of each month for work done in the second half of the previous month and on the 30th/31st of each month for work done in the first half of that month.
To be eligible to work on campus, you must fill out an I-9 form, a W-4 form, and an earnings authorization form. Don’t worry about completing these forms before arriving; the Payroll Office will provide the forms and explain the details on move-in day. You will complete your paperwork after you get your college ID photo taken.
In addition, you must complete any outstanding documents requested by the Financial Aid Office (FAO). All students who wish to work on campus must have the approval of the FAO. Contact the Financial Aid Office directly if you have missing documents and would like to begin working on campus.
Necessary documents for paperwork—bring these with you!
The most common combinations of documents required to complete employment paperwork are listed below. You must bring the original documents; copies don’t count. For a full list of accepted documents, see https://www.uscis.gov/i-9.
- An unexpired U.S. passport or Permanent Resident Card
- A driver’s license or photo ID AND a social security card or birth certificate (original or certified copy)
- Note: If you are under the age of 16, you must bring both your social security card and birth certificate (original or certified copy).
- A voided check or similar bank document with your bank’s name, your name, the bank’s routing number, and your bank account number. These details will provide the information needed for electronic deposit of financial aid refunds and earnings from your campus job.
While you may not have plans to work right away, it is very likely that you will work on campus, participate in a summer research program, or receive funding for an off-campus experience during your time at Beloit College. Why wait? Take care of payroll paperwork on move-in day and you will not have to worry about it later. Plus, your parents can take your important ID documents home with them for safe keeping.
Beloit College will withhold Wisconsin income tax from your wages unless you claim exemption from withholding as an Indiana, Kentucky, or Michigan resident. Illinois residents are subject to Illinois withholding. Your campus earnings are exempt from Social Security and Medicare withholding during the academic year.