Billing & Interest Policy
Methodist University’s billing/interest policy is listed in the Academic Catalog. Please refer to the catalog for any questions on this policy. However, the following is always observed:
- It is Methodist University policy that all previous semester charges must be paid before registering for another semester, and that ALL TUITION, FEES, AND CHARGES FOR THE SEMESTER ARE PAYABLE IN ADVANCE. This requires students to fully process all financial aid, loans, and payments before the semester begins, so that they may be credited to their student account prior to registration. Any financial aid, loans, or other unpaid charges not cleared before or at registration are subject to finance charges.
- Transcripts or other statements of work completed will not be released until ALL charges have been cleared.
- Statements are sent to parents and/or students monthly during the semester as required. Summer School Statements are prepared on an individual basis.
- If statements are to be mailed to any address other than the home address, the Office of Student Accounts must be notified in advance.
- Deduction of financial assistance:
- Scholarship and grant money awarded to the student are deducted from the student’s account after the Financial Aid Department has received the signed Financial Aid Award Letter from the student and validated the award to the Office of Student Accounts. Awards are made on an annual basis, but are posted to each student’s account (if fully processed) at the beginning of each semester. Loan money is posted to students’ accounts once the electronic funds transfer is received from the lending institution or if by check form, once the student or parent has endorsed it. The North Carolina Need-Based Scholarship Program, North Carolina Contractual Scholarship and Military Tuition Assistance (MTA) money is not credited to student accounts until these funds are received by the school.
- Financial assistance awarded by agencies or individuals other than Methodist University is credited to the student’s account after a copy of such awards is provided to the Director of Financial Aid, and the award is validated to the Office of Student Accounts.
Contact the Office of Student Accounts if you have questions at 1.800.488.7110 ext. 7018, 7284, or 7619.