Linfield College Payment Procedure

Linfield College Accounting Office has established an “account clearing” procedure for the student and/or parent to pay the billed charges for each semester the student is enrolled. The procedure includes specific date requirements. Each student is to do one of the following each semester by August 5 for Fall Semester and January 20 for Spring Semester:

1. Pay In Full so that the account balance is zero by August 5 for Fall Semester and January 20 for Spring Semester, or,

2. Pay all Cash Due not covered by the Tuition Management Systems (TMS) payment plan and not covered by accepted Financial Aid by August 5 for Fall Semester and January 20 for Spring Semester, AND, sign an Interim Promissory Note.

The Accounting Office will mail the Fall Semester Statement of Account (SAR) and Interim Promissory Note (IPN) in early July, and for Spring Semester in early January. Typically, the SAR billed charges will include the cost of Tuition, Room, Board, Student Body Fee, and Health Insurance, by the semester. Other costs such as transportation, books and personal expenses remain the responsibility of the student/parent and may not be added to the SAR. Clearing your account and paying each semester's billed charges may be accomplished in various ways, each having specific date and documentation requirements:

• DEFERRED TUITION: The deferred tuition payment plan offered by Linfield is through Tuition Management Services (TMS). TMS payment plan includes the FULL YEAR cost of Tuition, Room, Board, Student Body Fee, and Health Insurance, (excluding the cost of transportation, books and personal expenses), less FULL YEAR net financial aid (excluding Federal Work-Study). You should also include the cost of January Term. The TMS $60 fee and application should be received by TMS no later than August 1 regardless of the first monthly payment date. There is no interest charge if all payments are made as scheduled with TMS. However, if your TMS payment is late, TMS will assess a $25.00 late fee, and, Linfield will assess a late fee of $25.00 per late payment per month, and a 1% per month Service Charge for the remainder of the Tuition Management Systems (TMS) plan. A plan may be established by calling TMS at 1-800-722-4867 and paying the $60 fee by Credit Card. The IPN is required at Linfield by August 5 for Fall Semester and January 20 for Spring Semester.

• CASH PAYMENT: The portion of the semester billed charges not included in the TMS payment plan and not covered by accepted net financial aid is paid directly to Linfield by August 5 for Fall Semester and January 20 for Spring Semester. Check or Money Order may make payment. Linfield College does NOT accept credit cards as an acceptable method of payment for Tuition, Fees, and Room and Board. However, Linfield has contracted with TMS to administer our credit card payment program. If you choose to pay by MasterCard, Discover or American Express plus the accompanying VARIABLE TELEPROCESSING FEE depending on the amount charged, please call the TMS Tuition Direct number 1-800-722-4867. Payment by credit card to TMS Tuition Direct must be paid by August 5 for fall semester, December 20 for January term and January 20 for spring semester.

• INTERIM PROMISSORY NOTE (IPN): The IPN is designed to identify the source of funds, which bring an account balance to zero. The Cash portion, Insurance Waiver if applicable, and the signed IPN are due in the Accounting Office at Linfield College by August 5 for Fall Semester and January 20 for Spring Semester to avoid a $100 Late Clearing Fee. The only exception to the IPN requirement is if you pay the full account balance to zero by August 5 for Fall Semester and January 20 for Spring Semester. The IPN extends the time period for accepted Financial Aid, beyond when the Net Cash portion is due, in order to allow time for accepted Financial Aid to arrive from various sources. Financial Aid is due on the student’s account no later than October 31 for Fall Semester and February 28 for Spring Semester. The IPN is also required if you use the Tuition Management Systems (TMS) monthly payment plan. The IPN is an Accounting Office document and has no relationship to any documentation required by the Financial Aid Office.

• NET FINANCIAL AID: All net accepted financial aid except Federal Work Study needs to be applied to the SAR by October 31 for Fall Semester and February 28for Spring Semester to avoid a $25 Late Payment Fee, and a 1% per month service charge on the SAR unpaid balance. To ensure these dates are met, the student and/or parent should follow the timetable set by the Financial Aid Office. Your account cannot be cleared and your financial aid cannot be applied to your SAR if documentation needed by Financial Aid has not been received. Please call 888-471-2225 if you have questions regarding your financial aid.

The purpose of adhering to the dates indicated above is to finalize payment arrangements before classes begin. After classes begin, students become extremely busy with studies and educational activities leaving very little time to deal with financial matters. Not adhering to these dates will result in financial fines and/or cancellation of enrollment.

It is the responsibility of each student to be aware of and to meet the catalog requirements for graduation and to adhere to all other deadlines, rules, and regulations published in this catalog, the Student Handbook, and the Linfield College Policy Handbook.” (Catalog) This policy includes meeting the requirements of the Accounting Office in the account clearing process and payment procedure. Information and staff help is available on student accounts from the Cashier Monday through Friday 09:00 AM to 3:30 PM and from the Staff Accountant in Melrose 105 from 08:00 AM to 5:00 PM. Individual Statement of Account information is also available to every student on the Linfield Web Advisor at http://webadvisor.linfield.edu/WebAdvisor/WebAdvisor then “log in” tab. If the student is relying on their parent or benefactor to comply with the requirements, it is the student’s responsibility to provide the necessary information to the parent or benefactor to ensure compliance.

Interim Promissory Note Instructions

The Interim Promissory Note (IPN) is designed to identify the source of funds, which bring an account balance to zero. If your cash payment brings your account balance to zero, the IPN is not required. However, when billing charges will not be paid in full by cash by August 5 for Fall Semester and January 20 for Spring Semester, the IPN is required. This will occur if there is Financial Aid or if you choose to use the Tuition Management Systems (TMS) monthly payment plan. The IPN is prepared once for Fall Semester and once again for Spring Semester by the Accounting Office based on information at the time of printing.

The "Principal sum of $________” in the first paragraph of the IPN is the balance owing for either fall or spring semester. This will typically include Tuition, Room, Board, Student Body Fee and Health Insurance for one semester, plus any carryover from a prior semester.

• Line A Semester charges plus any carryover from a prior semester:Please include any carryover balance from a previous semester. You must be billed at FULL TIME TUITION and taking at least 12 credit hours to be eligible for your full Financial Aid Award. If billed for less than full-time, please contact the Financial Aid Office to see if your award is correct as a part-time student.

• Line B Financial Aid Award Letter (FAAL): The "Net Accepted Financial Aid" is provided by the Office of Financial Aid and based on the student being enrolled full time. Do not including Federal Work-Study if any. Please deduct any Bank Fee associated with specific loans i.e. Stafford, PLUS and Alaska Student Loans. If you choose to refuse part of the financial aid listed on the FAAL, please notify the Financial Aid Office. Since you have accepted the financial aid, it is your responsibility to provide the Financial Aid Office with all the required documentation necessary to ensure that this financial aid will be applied to your Statement of Account by October 31 for Fall Semester and February 28 for Spring Semester.

• Line C Net Cash Due: “Net Cash Due” is the difference between lines A and B, and is to be paid directly to Linfield College by August 5 for Fall Semester and January 20 for Spring Semester. Financial aid is based on a full-time student. Please refer to Line A above if you register for less than 12 credit hours.

“Adjustments to Net Cash Due”, line C, may be made in section D where applicable as follows:

• D1) Insurance Waiver: Provide Insurance Waiver (or waive on line at http://webadvisor.linfield.edu/WebAdvisor/WebAdvisor) once each school year to reverse the insurance fee charged. All students registered for the first time during a school year are charged the health insurance fee. If waived in the fall, students are not billed for health insurance in the spring. Students who did not waive the health insurance in the fall will be billed for health insurance in the spring. The Insurance Waiver form must be received by the clearing date or the insurance fee cannot be waived.

• D2) Federal Work Study: You may prefer to pay Federal Work-Study in advance so the student may keep the monthly work study check for personal expenses. However, students may apply their Federal Work Study checks monthly to their Statement of Account balance to reduce Net Cash Due but will be Service Charged 1% per month on the unpaid account balance. Record the semester amount of Federal Work-Study to apply towards Net Cash Due.

• D3) Additional Net Financial Aid: Record one half of any additional net financial aid NOT listed on the FAAL and notify the Financial Aid Office of the additional aid.

• D4) Tuition Management Systems (TMS) Payment Plan: Record the TMS Semester payment plan or one half of the Annual TMS Monthly Payment Plan.

• D5) Other Adjustments: This section covers any adjustment not previously itemized. i.e. converting Tuition from part time to full time; adjusting room changes or meal plans; buying a Parking Permit; or adding additional insurance coverage. Itemize each adjustment individually in the space available with the total on line 5.

• Line E: “Total of Items D1 through D5” as an adjustment to line C.

• Line F: “Revised Net Cash Due”. Subtract line E from line C. This must be paid directly to Linfield College by August 5for Fall Semester and January 20 for Spring Semester.

Your signature on the IPN each semester is your promise that the SAR will reach a zero balance by paying the “Revised Net Cash Due byAugust 5 for Fall Semester and January 20 for Spring Semester. Your signature also ensures the Net Financial Aid will be applied to the SAR by October 31 for Fall Semester and February 28 for Spring Semester. The two exceptions to these dates are amounts deferred for Federal Work-Study shown on line D2 and the TMS Payment Plan shown on line D4. Any balance remaining after these dates is subject to a monthly service charge of 1% per school policy, various late fees, and denial of student services.