Mason: Tuition and Other Expenses

The College reserves the right to make changes in its charges for any and all Programs at anytime, after approval by The Board of Visitors.

The Student Accounts Department (also known as the Bursar’s Office) provides current information on tuition rates, general student fees, payment due dates and other relevant information to assist students with their financial planning on their website at http://www.wm.edu/offices/financialoperations/sa/index.php.

Executive MBA students are billed separately and independently from the College’s Bursar’s Office.

Payment of Accounts

The Office of the Bursar is responsible for the collection and deposit of all College funds, management of student accounts, disbursement of financial aid and loans, account collections, and cashiering. Student payments of tuition, fees, meal plans, housing, telephone charges, miscellaneous late fines and fees are all collected in this office, located on the first floor of Blow Memorial Hall, with the exception of the Executive MBA Program that is billed separately and independently from the Office of the Bursar.

Charges for tuition and general fees, as well as fees for room and board, must be paid in full by the due date as established by the Bursar’s Office. Payment may be made by cash, personal check, money order or cashier’s check. Students should mail payments directly to the Bursars Office mailing address located on the eBill and include the student’s ID number with the payment. Checks should be made payable to The College of William & Mary. Payments may also be made in person at the Cashier’s window, located on the first floor of Blow Memorial Hall. The Bursar’s office also offers students the option of paying by credit card or electronic check through our payment plan provider, Tuition Management Systems (TMS); however, TMS does charge a convenience fee for these options. Additional information concerning payment options, etc. can be found on our website http://www.wm.edu/financialoperations/sa/sa.php.

The College of William & Mary in partnership with Tuition Management Systems (TMS) offers the option of an installment payment plan for the fall and spring semester. This option is available for payment of any charges that appear on the student account. For additional information please visit the TMS website at http://www.afford.com.

A student will not be permitted to complete registration if there is any unpaid balance or holds on the individual’s account in the Bursar’s Office. Checks returned by the bank for any reason will constitute non-payment of fees and may result in subsequent cancellation of registration.

The College of William & Mary’s method of billing is by eBill. Bills will only be available online and viewable through self service at myWM. Paper billing statements will not be mailed. When the bill for the semester is ready, the Bursar’s Office will send an email to the student’s W&M email account with instructions on how to open and view the bill. An email also will be generated to any eBill notification email address (third party address) that the student has provided to the College. The third party (usually the party that pays the bill) will not be able to view the billing statement, so it is up to the student to get the billing information to the appropriate person(s). If a student would like additional information concerning a bill he or she should visit the student accounts website at http://www.wm.edu/financialoperations/sa/ebillfaq.php

A late fee of up to 10% of the outstanding account balance may be assessed if payment is not received by the published due date. Late payment may also result in cancellation of a student’s registration and/or withholding of student grades, transcripts, and diplomas.

Executive MBA Payment of Accounts

Executive MBA students are billed separately and independently from the College’s Bursar’s Office. The EMBA policy concerning late payments may be a 5% late fee for all accounts more than 10 days past due and a restrictive hold may be placed on a student account preventing registration for the next semester for any accounts that remain past due at the time of registration. If a student has a particular concern or problem preventing payment in a timely manner, he or she should contact the Program Director.

Late Payment Policy

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.

Withdrawal Schedule and Refunds

Full-time Students who withdraw from the College

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. After the first week of the semester, the amount of the tuition and fees charged /refunded will be determined based on the following schedule:

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.

Flex Students who withdraw from the College

Flex MBA students who withdraw 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 and general fees if required to withdraw by the College.

Flex Students who withdraw from a course

Flex students wishing to add or drop a course may do so in Banner Self Service through a 10-Calendar-Day Add/Drop period. The add/drop period begins on the first day of classes for the Fall and Spring semesters. After the 10-day add/drop period, an extended drop period for Flex students runs through the end of the third week of class. Flex students may drop courses in the extended drop period by contacting the Graduate Registrar. Courses dropped through the end of the extended drop period are not displayed on the student’s transcript. The withdrawal period for Flex MBA students begins after the end of the third week of class. A Flex student who withdraws from a course after the third week of class but remains registered for other academic work will not be eligible for a refund.

Withdrawal from a course during Summer Sessions

For withdrawal refund information for summer session(s), students should contact Student Accounts at bursar@wm.edu or 757-221-1220.

EMBA Refund Policy

Please refer to the EMBA Program section of this catalog for the EMBA refund policy.

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 Title IV federal funds. In addition, the same refund guidelines control all other aid funds, with the exception of private or alternative loans. 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 Funds Calculation

EXAMPLE 1: Virginia resident who lives on campus

 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 & 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

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 FA grant will be reduced using the same formula; $9076 X 55.2 % = $5009.95 earned and $4066.05 unearned.

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