Billing Information

Important Student Billing Information

Students

Legally your student bill is your responsibility; it is not the responsibility of your parent(s) or guardian(s). While your parent(s) or guardian(s) may be making payments on your behalf, the responsibility to make sure that these obligations are met in a timely manner is yours alone. Any repercussions from failure to fulfil your obligation will directly affect you personally.

TRANSACT e-Bill

Albion College provides a convenient on-line system (TRANSACT) for tracking student account information and making payments for your tuition and fees. You will also receive e-mail notifications via your Albion College e-mail and have access to make online payments via e-check, debit/credit card or 529 saving plans as well. (Albion does not issue paper billing statements.) You may also make payments at the cashier window in the Student Accounting Office in Ferguson Hall Monday through Friday 8:15 a.m.–4:45 p.m.

Legally your individual account is private. If your parent(s) or guardian(s) will be making payments on your behalf, it is your responsibility to add them as an “authorized payer/user” within the TRANSACT e-Bill system. “Authorized payer/users”, when added, will receive e-mail notifications billings and will have the ability to make on-line payments via an e-check, debit/credit card or 529 savings plans. Instructions on setting up an “authoized payer/user” may be found on the TRANSACT e-Bill Authorized Users webpage.

The “authorized payer/user” status will only grant your parent(s) or guardian(s) access to your billing information.

Parent Communications with respect to Billings and Financial Aid

As stated above you, the student, are the primary contact with respect to your College billing and financial aid. You may allow your parent(s) or guardian(s) to speak to College representatives about billing and financial aid issues by adding your parent(s) or guardian(s) as authorized-payer/users in the TRANSACT e-Bill system. This permission is required under the federal FERPA law.

Billing Rules

We will allow you to set your own payment arrangements within the terms listed below:

Fall Semester Due Dates

August 20 Your account must be paid in full or you must be enrolled in a payment plan.

Spring Semester Due Dates

January 15 Your account must be paid in full or you must be enrolled in a payment plan.

Late Payment Fees

You may choose to pay your account in full or in part and/or enroll in a TRANSACT payment plan. Any portion of the account that is unpaid or not enrolled in a payment plan will be subject to late payment fees. The late payment fees are calculated at 1.25% each month non-payment plan charges are outstanding. The late payment fee applies to non-payment plan balances after August 20 (for fall semester), January 15 (for spring semester) and May 15 (for summer semester). This would include any balances as a result of incomplete financial aid including loans. For new semester charges; you will have one billing cycle to pay these charges before a late payment fees is assessed. After the initial billing cycle, all non-payment plan charges will be subject to late payment fees as described above.

Disputed Charges

You will have one billing cycle to resolve disputed charges. Items such as library fines and parking fines must be resolved with the charging department (aka the Library or Campus Safety or any other department that generated the disputed charge). Please contact the Student Accounting Office at (517) 629-0507 if you need assistance in determining who to contact and we will provide you with the correct contact information.

In-Semester Charges and Changes

Changes often occur mid-semester, e.g. students change room assignments, incur miscellaneous charges, incur shuttle charges and/or drop/add classes in the drop/add period. Changes on your bill resulting from these items will be given one billing cycle to be paid in full before time charges are assessed.

Holds

If you have a balance on your account after each semesters drop/add date a hold will be placed on your account. A hold restricts your ability to register for future semesters and receive or forward transcripts.

If you have a balance at the conclusion of the semester you will be finacially withdrawn and will be required to apply for readmission to the College. Withdrawal for failure to fulfil your financial responsibility may result in your needing to provide assurance that future bills will be paid in a timely manner. Readmission may be dependent upon satisfactory payment arrangements for future billings.

Financial Aid

All financial aid requirements should be met prior to August 1 for the August 20 payment due date or January 1 for the January 15 due date. This includes requirements for all internal and external aid as well as student loans. Exceptions would be requested verification of your enrollment by a third party or late admission to the College. The College gives one billing cycle to resolve enrollment verification issues. After that cycle, the College will assess time charges according to the rules described above. Selection for Federal verification for financial aid purposes will not prevent time charges on items pended as a result of the federal verification.

Pending Financial Aid

Please review billing items listed as “memo items” on your bill carefully. The College cannot post Federal funds (aid and /or loans) to your student account until 10 days prior to the start of the semester, items listed on your bill as “memo items” after August 10 and January 5 indicate that some action is necessary by you, the student. “Memo items” do not reduce your balance when assessing time charges so failure to act on these items will result in additional cost to you.

TRANSACT Monthly Payment Plans

The TRANSACT plans enable you to pay your Albion College fees in monthly installments without penalty on the balance within the agreement. Please log into the TRANSACT website for more information, and to sign up under the “Payment Plans” tab.

Fall Semester Payment Plan

6 Month Plan–

Beginning May 15th you can enroll in a User Determined to Imported plan using an ‘estimate’ or ‘projection’ of what your balance will be for the fall. Please use payment plan calculator to help determine your estimated costs.

First couple months are based on estimated cost. After semester charges and available aid is applied to the account, plan will work on real-time student account activity. Installments may increase or decrease.
Plan only covers Fall Semester charges.
Installments due the 15th of each month, first payment is due July 15th.
The late payment/non-payment fee is $10.00.
Late enrollment is possible up until two months prior to the end of the current semester (October 14th). Balance will be distributed among remaining installments.
Enrollment fee is $25 (processed separately), non-refundable.

Spring Semester Payment Plan

6 Month Plan–

Beginning December 15th you can enroll in a User Determined to Imported plan using an ‘estimate’ or ‘projection’ of what your balance will be for the spring. Please use payment plan calculator to help determine your estimated costs.

First couple months are based on estimated cost. After semester charges and available aid is applied to the account, plan will work on real-time student account activity. Installments may increase or decrease.
Plan only covers Fall Semester charges.
Installments due the 15th of each month, first payment is due January 15th.
The late payment/non-payment fee is $10.00.
Late enrollment is possible up until two months prior to the end of the current semester (April 14th). Balance will be distributed among remaining installments.
Enrollment fee is $25 (processed separately), non-refundable.

If you have questions please contact the Albion College Student Accounting at (517) 629-0507 or email [email protected]. You may also contact TRANSACT Support as well.

Payment for Students on Off Campus Programs

Payment requirements for students participating in Off-Campus Programs are different than for on-campus students.

Payment in full for the semester is required 2 weeks before the student leaves for the Off-Campus program or by the due date on the semester bill whichever is sooner. (An exception to this is certain Australia Off-Campus programs that start in mid July; payment for these programs is expected by the due date on the bill).
Prior Semester balances must be paid in full.
Payment Plans are not permitted for any Off-Campus Programs.
Students must make sure that all Federal loan requirements are completed prior to their departure so that loan funds will be disbursed on time. Alternative loans and PLUS loans should be initiated far enough in advance so that they disburse on or prior to the Off-Campus Program due date.
Please see the Off-Campus Programs Handbook for other information.
Billing information can be reviewed on the Off-Campus Program Billing webpage.

Past Due Accounts

Currently enrolled students having greater than a $3,000.00 indebtedness to the college are not permitted to enroll for the next semester’s classes.

The College reserves the right to increase or decrease fees and charges. Published notice of any change will be given in advance.