Financial Rights and Responsibilities
The following information outlines the policies and procedures related to a student’s financial aid and student account at Elmhurst University. All students are responsible for reviewing, understanding, and abiding by the University’s regulations, procedures, requirements and deadlines as described in official University publications.
Billing and Payments
All charges are due on the 15th of the month prior to the start of each academic term and are the student’s responsibility to pay. Unpaid balances are subject to interest fees. Students with returned payments will be assessed a fee and future payments may require certified funds.
Most students are eligible to enroll in a monthly payment plan In lieu of payment in full at the beginning of a term. The account will be in good standing if the minimum payment is received on or before the 15th of each month. Not all programs may be eligible for payment plans. Unpaid installments are subject to late fees.
Account statements are updated monthly. Current and former students are notified via Elmhurst University email when statements are available for viewing. Failure to view the account statement online does not constitute a valid reason for not paying a bill by the payment deadline.
Business Holds
Students with accounts that are not paid in full at the beginning of the term or are not enrolled in a monthly payment plan will be placed on a business hold. Students with business holds will not be permitted to make registration changes, register for future terms or receive diplomas until the balance is paid.
As a condition of registration in a future term, a student must remain in good financial standing during the current term. Students no longer in good financial standing may be administratively dropped from their future course registration. Payments made with non-certified funds within 30 days of the start of a new semester will be held for 10 business days before a hold can be removed.
Third Party Sponsorship and Reimbursement
Written authorization from the student’s sponsor is required each semester. Students are responsible for any charges not covered by third-party sponsors. Untimely sponsor payments will result in the student being responsible for payment and fees.
Students who are eligible to be reimbursed by an employer at the end of the term will have a six-week extension after the end of each term to pay the balance in full. A letter of confirmation from the employer is required to be eligible and a setup fee will be charged.
Refunds
Refunds will be processed for students with credit balances during each term. Changes that occur to accounts after refunds may result in balances due to Elmhurst University. Students are required to pay any outstanding balances by the payment due date even if they previously received a refund.
Withdrawals
It is the student’s responsibility to cancel registration by dropping all courses before classes begin and submitting a withdrawal form. Failure to pay fees, secure financial aid, or attend class does not constitute an official withdrawal. Enrollment will not be automatically cancelled for failure to pay tuition and fees.
Withdrawal from Elmhurst University after the start of the semester may subject the student to tuition and fee liability in accordance with the University’s refund policy.
Financial Aid
Aid included in a student’s Financial Aid Offer does not represent guaranteed payment but is an estimate of the aid they may receive if they meet all requirements as defined by the respective aid programs. Financial aid will only be credited to account balances after all applicable financial aid processes are completed.
Financial aid is contingent upon continued enrollment and attendance upon which a student’s financial aid eligibility was calculated. If a student drops a class before completion, their financial aid eligibility may change. If after receiving a credit balance refund, a student has their aid reduced, has additional charges, or withdraws from all courses, they will be responsible for paying any resulting balance.
All aid awarded by Elmhurst University will be credited to the student account and applied toward any outstanding balance. Receipt of any award is considered financial assistance according to federal Title IV regulations and may therefore reduce eligibility for other financial aid which may be reversed and returned to the source.
The sum of all tuition-restricted financial aid, including most Elmhurst University aid not designated for housing/meal plan, may not exceed the tuition charges for a given term.
Enrollment Adjustments
Several financial aid awards are impacted by enrollment level based on their respective policies, including the Illinois MAP grant and the Federal Pell Grant.
- The amount of the MAP grant awarded per term is prorated based on the number of credit hours in which a student is enrolled. Students must be enrolled in at least 3.75 credit hours to receive the maximum amount for which they qualify per term. If enrolled for less than 3.75 hours, the grant is reduced proportionally.
- Pell Grants are adjusted based on a student’s “enrollment intensity,” which is the percentage of full-time enrollment at which a student is enrolled, rounded to the nearest whole percent.
Elmhurst University is not responsible for any balance resulting from reduced financial aid awards from a decrease in enrollment level.
Earned and Unearned Aid
A student “earns” Title IV (federal financial aid) funds in direct proportion to the length of time he or she remains enrolled. Unearned Title IV funds must be returned when a student withdraws. Unearned aid is the amount of Title IV aid that exceeds the amount of Title IV aid earned. Title IV aid is adjusted beginning the first day of each term. This policy is subject to the Higher Education Amendments of 1998, Public Law 105-244. Contact the Office of Student Financial Services for details of this policy.
The amount of University funds is adjusted at the same percentage rate as the tuition and fees withdrawal scheduled used by the Office of Student Financial Services. Scholarships received from private sources are returned to those programs per their individual restrictions.
Debt Collection
Elmhurst University will pursue any and all collection efforts and practices, allowable by law. The student is responsible for all additional collection charges associated with the collection of the debt. Once an account has been referred to a collection agency, the additional collections fees cannot be removed from the account and the student must make all payment arrangements with the collection agency.
Bankruptcy
Tuition and other related fees may not be dischargeable in bankruptcy and may survive after the bankruptcy has closed. A student may still owe the debt to the University after the bankruptcy.
IRS Form 1098-T
Social Security numbers (SSN) or taxpayer identification numbers (TIN) are required to be provided to Elmhurst University upon request as required by Internal Revenue Service (IRS) regulations for Form 1098-T reporting purposes. Failure to provide an SSN or TIN to Elmhurst University, may result in being assessed IRS fines as a result of a missing SSN/TIN.