A&S: Financial Obligations

Payment of Accounts

Charges for the tuition and general fee, as well as fees for room, meal plan, and special fees (i.e. applied music, art, kinesiology fees, etc.) must be paid by each semester due date as established by the Office of the Bursar. Any unpaid balance remaining on a student’s account after the end of the add/drop period may result in cancellation of registration. Payment must be made in U.S. dollars by cash or check made payable to the College of William and Mary. Checks returned by the bank for any reason will constitute nonpayment of fees and may result in cancellation of registration. In the event a past-due account is referred for collection, the student is required to pay all costs associated with the collection and/or litigation. Credit Card payments are not accepted.

Tuition Payment Plans

As a service to students and parents, the College has approved participation in the interest free tuition payment plan offered by Tuition Management Systems (TMS) for the fall and/or spring semesters of the academic year. This plan is an affordable way to spread the tuition, fee, room and board charges over several months (5 months for one term and 10 months for the entire academic year). For more information about this plan, please write, call or logon to www.afford.com/wm:

Tuition Management Systems, Inc.
225 Service Avenue
Second Floor
Warwick, RI 02886-1020
1-800-722-4867

Late Fees and Collection Costs

Payment of all University education expenses is the responsibility of the student. If a student fails to pay an amount owed, state law requires the College to assess an administrative fee and/or late payment penalty. Students whose  payments are received after the due date will be assessed a late payment fee of up to 10% of the outstanding balance (not to exceed $100) as prescribed in 2.2-4805 of the Code of Virginia. Failure to receive a bill does not waive the requirement for payment when due and will not prevent the application of the late fee. Further, all past-due accounts will be submitted to a private collection agency or the Attorney General’s Office for collection as well as credit bureau reporting. The University will recover all collection fees and attorney’s fees from delinquent debtors. In addition to referral to an outside collection agency, registration for the current or future semester(s) may also be cancelled for non-payment. Please visit the Financial Operations webpage for additional information www.wm.edu/offices/financialoperations/sa/ebills/index.php.

Withdrawal Schedule for a Full-time Graduate Student

Full-time students who withdraw from the College are charged a percentage of the tuition and fees based on the school week within which the withdrawal occurs. A school week is defined as the period beginning on Monday and  ending on the succeeding Sunday. The first school week of a semester is defined as that week within which classes begin. Full-time students who withdraw from the College within the first school week of the semester are eligible for a refund of all payments for tuition and fees less the required enrollment deposit for entering students or a $50.00 administrative fee for continuing students.

Students will not be eligible for any refund of tuition and general fees if required to withdraw by the College.

Refund of the room rent will be prorated based on the date the resident officially checks out of the room with required paperwork completed by a Resident Life staff member. Meal plan adjustments will be prorated on an actual usage basis given the last day of usage.

For students paying through a tuition payment plan, all refunds will be determined by comparing the amount eligible for refunding to the total monthly payments made to date. Any outstanding amounts owed the College for tuition, general fees, dormitory fees or meal plan charges after deducting the eligible refund will be due immediately upon withdrawal.

It is College policy to hold the enrolled student liable for charges incurred, therefore in the case of refunding any overpayment, refund checks will be issued in the name of the student.

Return of Title IV

The return of Title IV funds for students with Title IV Federal Aid (Federal PELL, Federal Subsidized and Unsubsidized Stafford, Federal SEOG, Federal Work Study, Federal Perkins, Federal PLUS) who withdraw from school will be calculated in compliance with Federal regulations. A statutory schedule is used to determine the amount of Title IV funds a student has earned as of the date the student withdraws or ceases attendance.

If a student withdraws from college prior to completing 60% of a semester, the Financial Aid Office must recalculate the student’s eligibility for all funds received, including Title IV funds. Recalculation is based on a percent of earned aid using the following Federal Return of Title IV funds formula:

Percent of aid earned = the number of days completed up to the withdrawal date, divided by the total days in the semester. (Any break of five days or more is not counted as part of the days in the semester.)

Funds are returned to the appropriate federal program based on the percent of unearned aid using the following formula:

Aid to be returned = (100% minus the percent earned) multiplied by the amount of aid disbursed toward institutional charges.

Keep in mind that, when funds are returned, the student borrower may owe a balance to the college. If that is the case, the student should contact the Student Accounts/Bursar’s Office to make payment arrangements.

Example of Return of Funds Calculation

Example 1: Virginia resident who lives on campus (amounts used are for informational purposes only)

The student withdraws on 10/20, which is day 57 out of 116 in the semester (57/116 = 49.1% of Title IV funds earned by the student). Title IV funds = $3387 ($1500 Pell + $1887 Sub Stafford). $3387 X 49.1% = $1663.02 of earned Title IV funds. The remainder of funds unearned $3387- $1663.02 = $1723.98 will be returned to Federal programs. The state grant will be reduced using the same formula; $3086 X 41.1% = $1268.35 earned and $1817.65 unearned.

William and Mary must return $1723.98 to the Subsidized Stafford Loan and $1817.65 of the state grant.

Example 2: Out of state student not living on campus (amounts used are for informational purposes only)

The student withdraws on 10/27 which is day 64 out of 116 in the semester (64/116 = 55.2% of Title IV funds earned by the student). Title IV funds = $ 3,417 ($807 Sub Stafford + $1860 UnSub Stafford +$750 Perkins Loan). $3,417 X 55.2% = $1886.18 of earned Title IV funds. The remainder of funds unearned $ 3,417 - $1886.18 = $1530.82 will be returned to Federal programs. The Financial Aid (FA) grant will be reduced using the same formula; $9076 X 55.2 % = $5009.95 earned and $4066.05 unearned.

William and Mary must return $1531 to the Unsubsidized Stafford Loan and $4066.05 of the FA grant.

Part-time Students Who Withdraw from the College

Part-time students who withdraw completely from the College within the first school week of the semester are eligible for a full refund of tuition and fees less a $50.00 administrative fee. After the first week, the amount of the tuition and fees to be charged will follow the full-time withdrawal schedule.

Students will not be eligible for any refund of tuition if required to withdraw from the College.

Part-time Students Who Withdraw from a Course

A part-time student who withdraws from a course after the add/drop period and remains registered for other academic work will not be eligible for a refund.

All charges by the College are considered to be fully earned upon completion of registration by the student.

Outside Scholarship Recipients Receiving Credit

Students who have been awarded financial aid are required to pay the difference between the charges due and the amount of the award by the published due date each semester. The Office of the Bursar/Student Accounts must receive written notification of any outside scholarship from the organization before the credit can be given towards tuition and fees. A student whose scholarships exceed total charges may apply for a refund beginning the first day of classes.

Unpaid Accounts

If there are any outstanding debts to the College, services such as issuance of transcripts and diplomas or participation in registration or pre-registration will be withheld.

Eligibility for In-state Status

To be eligible for in-state tuition, a student must meet the statutory test for domicile as set forth in Section 23-7.4 of the Code of Virginia. Domicile is a technical legal concept; a student’s status is determined objectively through the impartial application of established rules. In general, to establish domicile, students must be able to prove permanent residency in Virginia for at least one continuous year immediately preceding the first official day of classes, and the intention to remain in Virginia indefinitely after graduation. Residence in Virginia for the primary purpose of attending college does not warrant eligibility for in-state tuition. Applicants seeking in-state status must complete and submit the ‘Application for Virginia In-State Tuition Privileges’ to the Office of the University Registrar no later than the first day of classes. The application is evaluated and the student is notified in writing if the request for in-state tuition is denied. Special rules apply to non-US citizens; contact the Registrar’s Office for details or visit www.wm.edu/registrar. A matriculating student whose domicile has changed may request reclassification from out-of-state to in-state status. Students seeking reclassification must complete and submit the ‘Application for Virginia In-State Tuition Privileges’ to the Office of the University Registrar at least two months prior to the first day of classes of the term for which they seek in-state classification. The Office of the University Registrar evaluates the application and notifies the student if the request for in-state tuition is denied. Any student may submit in writing an appeal to the decision made, however, a change in classification will only be made when justified by clear and convincing evidence. All questions about eligibility for domiciliary status should be addressed to the Office of the University Registrar, (757)221-2815.

In determining domicile the school will consider the following factors:

• Citizenship status
• Residence during the year prior to the first official day of classes
• State to which income taxes are filed or paid
• Driver’s license
• Motor vehicle registration
• Voter registration
• Employment
• Property ownership
• Sources of financial support
• Social or economic ties with Virginia

For additional information on tuition, billing, payments, etc., please visit the following website: www.wm.edu/offices/financialoperations/sa/index.php