Payment of Charges

Each semester's charges are to be paid in full no later than registration/payment day. Scholarships, grants, or loans already awarded should be taken into account in determining the amount of money needed to pay the balance of charges. Since many banks and other financial institutions will lend funds for educational purposes, the University of Indianapolis does not have a long-term payment plan. A one-month extension, however, is available and requires a one-half payment on payment day and the balance four weeks later. A plan fee is assessed, as are service charges on the amount owed after financial aid has been subtracted. An alternative to full payment is the long-term payment offered by Sallie Mae Tuition Pay. Information relating to this payment plan is available from the Business Office. MasterCard, Visa, Discover Card, and American Express are acceptable methods of payment.

The student's financial aid usually is divided equally between semesters I and II and will appear as a credit against institutional charges on the student's billing statement. Statements for the two semesters are mailed in July and November respectively. If a student is not enrolled full-time both semesters, a statement for Spring Term is mailed in March.

All new students are required to pay $100 of the Semester I tuition by May 1, and resident students must also pay a $50 housing deposit. Students whose applications are approved after May 1 shall be required to pay the deposits within 15 days after admission. A full refund of tuition and housing deposits is given through May 1. These deposits are 50 percent refundable through June 30. After June 30 these deposits are not refundable and must be used during the first semester for the respective uses intended.

Returning students are required to pay $100 of the Semester I tuition and $50 of the residence hall charges no later than May 15 each year. A full refund of tuition and housing deposits is given through May 15. These deposits are 50 percent refundable through June 30. After June 30, tuition and housing deposits are not refundable and must be used during the first semester for the respective uses intended. Space in residence hall rooms will be held only for those new or returning students who have made the prepayments by the appropriate dates. Students whose deposits are not made by the appropriate dates will be dropped from classes for which they have preregistered.

No tuition deposit is required of new or returning students for the second semester; however, new students are required to submit a $50 housing deposit by December 1 or immediately upon official notification of admission, whichever is later. This deposit is not refundable.