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Student Finances

Financial Regulations

UNDERGRADUATE DAY DIVISION

Tuition and Fees

Fall 2016 - Spring 2017 Per Year.

Tuition  ...................................................................................... $33,000
SGA Fee ........................................................................................... $400

Standard Room/Meal Plan*.................................................. $13,500
Copper Beech Apt./Meal Plan*............................................. $13,650

Undergraduate courses and internships taken during the Summer semesters are not covered by Fall and Spring semester tuition. Undergraduate courses taken during the Summer of 2016 will be charged at a rate of $330 per credit. Internships taken during the Summer of 2016 will be charged $100 per credit.

Undergraduate Adult Students (those coded as UGA) will be charged at a rate of $330 per credit, not including textbook costs and lab fees. There is no parking fee for UGA students.

Graduate MBA/MSOL courses excluding course BUS-510 will be charged at a rate of $650 per credit. Graduate course BUS-510 will be charged at a rate of $700 per credit. Graduate MSA courses will be charged at a rate of $700 per credit.

*Resident Students Only. All Residents are required to purchase the Meal Plan. Resident students are required to be full-time students.

Scope of Tuition

Tuition for full-time day students covers a course load ranging from 12 to 19 credit hours per semester. A course load in excess of 19 credit hours requires prior academic approval and will be subject to an overload charge. The overload charge is 1/15 of the full time day semester rate per credit hour (the 2016-2017 overload rate is $1,100 per credit hour).

Part-time day undergraduate students are charged the overload rate per credit hour for day division courses taken. If enrolled in a Graduate and Professional Studies (GPS) course, the applicable GPS rate will apply.

Internships

Costs

Students will be charged the appropriate Nichols College tuition and fees associated with all course enrollments1. These charges will be placed on the student account and paid directly to Nichols College.

Students will need to directly pay for all costs charged by internship placement companies, application deposits, program deposits, and security deposits. Students are also responsible for any costs related to passports, visas, airfare, personal expenses, books and supplies, transportation, independent travel, and entertainment expenses. Students are also fully responsible for housing and/or meals if not included with the program. Students are responsible for any costs for optional programs or trips that may be offered by the program.

1If the internship placement company has a tuition based charge, please contact Student Financial Services. Your account will be reviewed on an individual basis.

Financial Assistance

Student financial aid award packages will be adjusted to the non-resident award level for students who will not be Nichols College residents for the applicable term. Students will be able to utilize all scholarships from Nichols College that are classified as endowed scholarships2,3.

Students may utilize any federal, state, and/or outside scholarships that they are eligible to receive.

2Non-endowed Nichols College scholarships may only be used up to the difference between the Nichols College tuition and the tuition as charged by the program/placement company.

3Endowed Scholarships may be found on the myNichols portal in the Student Financial Services section under Financial Assistance. Please review the Grants and Scholarships tab on the table of ­information.

Study Abroad

Costs

Students will be charged the chosen study abroad program costs for tuition, housing and meal plans. Students who choose to enroll in any courses offered at Nichols College while they are completing the study abroad semester will be charged the appropriate tuition rate for the Nichols College course in addition to the study abroad program cost. In addition, students will be charged the study abroad fee. These charges will be placed on the student account and paid directly to Nichols College.

Students will need to directly pay for application deposits, program deposits, and security deposits.

Students are responsible for any costs related to passports, visas, airfare, personal expenses, books and supplies, transportation, independent travel, and entertainment expenses. Students are also fully responsible for housing and/or meals if not included with the program. Students are responsible for any costs for optional programs or trips that may be offered by the program.

Financial Assistance

Students will be able to utilize all scholarships from Nichols College that are classified as endowed scholarships*.

Students may utilize any federal, state, and/or outside scholarships that they are eligible to receive.

*Endowed Scholarships may be found on the myNichols portal in the Student Financial Services section under Financial Assistance. Please review the Grants and Scholarships tab on the table of ­information.

Deposits and Fees

Audit Fee  Students wishing to audit a course will pay the full course tuition.

Course and Lab Fees  A lab fee will be charged to students who enroll in designated fine arts or laboratory science courses as listed in the official course schedule published at the time of registration.

Graduation Fee  A $150 mandatory fee will be charged to all candidates certified for graduation. The fee will be charged whether or not the candidate attends the commencement ceremony.

Housing Deposit (Returning Students)  A nonrefundable deposit may be required of all resident students.

Late Payment Fee  The $250 late payment fee will be assessed once each semester on every account that does not have a Plan-in-Place (PIP) for settling the semester’s financial obligations by the due date.

Definition of “Plan-in-Place”:  Students must have documented sources of payment that will cover the entirety of the semester’s costs. These sources may consist of the following:

  • Financial Aid: All approved financial aid (Note: All loan applications must have been submitted and approved prior to the payment deadline, and all loans must be payable directly to Nichols College)
  • Tuition Management Systems (TMS) payment plan in a “current” status
  • Signed letter clearly stating the amount of an outside scholarship that is payable to Nichols College
  • Prior approved third-party reimbursement
  • Valid health insurance waiver
  • Check, money order, or credit card payment

Parking Fee  A $130 parking fee will be assessed each semester to all day students who are issued a parking decal.

Student Government Association (SGA) Fee  A $200 per semester Student Government Association Fee will be charged all day students to support the program and activities of the Association.

Study Abroad Fee  Students who choose to enroll in any courses offered at Nichols College while they are completing the study abroad semester will be charged the appropriate tuition rate for the Nichols College course in addition to the study abroad program cost. In addition, students will be charged the $500 study abroad fee.

Tuition Deposit (New Students)  A tuition deposit of $250 is required. (See Admission Policies and Procedures/Acceptance and Confirmation Procedure for Day Students for refund regulations, page 14.)

Health and Accident Insurance/Health Insurance Premium

State law requires all students enrolled in nine or more credit hours in a semester to be covered by health and accident insurance. Nichols College offers the Student Accident and Health Insurance Policy through Blue Cross Blue Shield for those students who are not covered by a personal or family policy. The College assumes no liability for sickness or injury incurred by students who fail to have the necessary personal or family health insurance coverage. Students participating in intercollegiate athletics are provided additional coverage for injury by a group rider purchased on behalf of the student by the College. Health insurance is state mandated and is subject to state regulation changes at all times.

The health insurance premium will be added automatically billed to all students meeting the credit requirements each semester. Students who completed a valid health insurance waiver in the fall semester will not be charged the health insurance in the spring semester. The rates change every academic year.

The Health Waiver certifies that a student’s family health insurance policy is comparable to the one offered by the College. This form must be completed and RECEIVED by the College by the stated waiver deadlines. The premium charged is not refundable after the waiver deadline despite the existence of other coverage.

The policy information and rates are posted online.

Payment Schedule

The Fall semester charges are typically due at the beginning of July and the Spring semester charges are typically due the first business day in January. Specific due dates are determined each semester.

Withdrawal Procedures and Policies

Withdrawing from Nichols College can have a significant financial impact. Students are strongly urged to carefully read all of the information listed below.

If students have any questions regarding the policy and the specific impact on their accounts, please contact the Director of Student Accounts or the Assistant Director of Student Accounts.

Day students (full-time, part-time, resident, and commuter) who elect to leave Nichols College for reasons other than graduation MUST officially withdraw from the institution.

Official withdrawal requires the student to meet with staff from one of the following departments to complete the official withdrawal paperwork: Student Financial Services, Student Life, Residence Life, or the Registrar’s Office. The withdrawal form is also available on the myNichols portal.

  • Non-attendance does not relieve a student of his/her financial obligations nor entitle a student to a refund.
  •  The effective date of withdrawals that occur prior to the last day of classes is the date of last academic attendance.
  • Withdrawals that are to be effective during the current term must be completed by the last day of classes.
  • It is the responsibility of the student to read and understand the entire withdrawal and refund policy. Questions regarding the financial impact of the withdrawal should be directed to the Student Financial Services. It is STRONGLY suggested that students visit or speak with Student Financial Services PRIOR to withdrawing from Nichols College.

Students who plan to withdraw from the College after a semester has ended may file a withdrawal to be effective at the end of the semester. The withdrawal between semesters MUST be completed prior to the beginning of the next semester in order to avoid incurring additional financial obligations.

Resident Students Upon withdrawal, a resident student should immediately contact his/her Area Coordinator (AC) with the date and time of his/her departure. Students have 24-hours after withdrawing to remove their belongings, to formally check out of their rooms, to return their residence keys, and to turn in their student ID cards.

  • Any adjustments to the 24-hour policy must be approved in advance by the Director of Residence Life.
  • Personal belongings that are left in the room will be discarded. Fines may be incurred for any damages to college property. Fines may also be incurred for failure to return room keys.
  • Please note that it may take 30-60 days for the final miscellaneous charges to be added to the account.

Application of Refund Policies  After the withdrawal, Nichols College will complete calculations for refunding institutional charges and financial aid and complete a financial audit on the account. These calculations may take up to 30 days to complete.

Students are fully responsible for all costs incurred while still attending Nichols College, including collection costs and legal fees.

Students who are dismissed or suspended from the College and/or from College housing for disciplinary reasons or violation of local, state and/or federal law are not entitled to any pro-rate of tuition, room, board or fees. They will be held responsible for all institutional charges, disciplinary fines, and any other charges that are applied to their account. However, please note that the Financial Aid package will be recalculated according to the guidelines of federal & state financial aid.

Withdrawal Policy and Refund Schedule

Federal & State Financial Aid

The calculation for the return of Federal and State Financial Aid is different from the Nichols College refund policy.

Nichols College is required to return funds to the appropriate federal, state, institutional, local and/or loan agencies upon a student’s withdrawal based on the student’s percentage of attendance. When a student has attended the College for 60% or more of the term, then the student is normally entitled to keep the full financial aid package that was awarded to him/her. If the percentage is less than 60%, then a corresponding percentage of funds must be returned to the appropriate agencies.

The percentage of attendance is calculated by dividing the number of calendar days attended by the student in a term by the total number of days in the term. (Note: Breaks that are 5 days long or longer are not included as part of the total term days.)

        The 60% dates for the 2016-2017 year based on the date of last academic attendance:

        Fall Term: October 28, 2016 (If you attended a class(es) on or after this date then financial aid does not need to be pro-rated.)

        Spring Term: March 27, 2017 (If you attended a class(es) on or after this date then financial aid does not need to be pro-rated.)

The percentage of attendance is used to calculate the percentage of financial aid that the student is allowed to keep and the percentage that must be returned to the appropriate agencies/companies. For example, if a student withdraws and it is determined that the student attended Nichols for 40% of the term, then the student would be allowed to keep 40% of his/her financial aid. The remaining 60% of the financial aid would need to be returned to the appropriate agencies/companies.

For federal financial aid there is a scheduled order of return. In other words, if 60% of the federal aid must be returned, then it will be returned to the appropriate financial aid sources in the following order:

  • Unsubsidized Direct Stafford Loans (other than PLUS loans)
  •  Subsidized Direct Stafford Loans
  • Direct PLUS loans
  • Federal PELL Grants for which a return of funds is required
  • Federal Supplemental Educational Opportunity Grants (FSEOG) for which a return of funds is required
  • Federal TEACH Grants for which a return is required
  • Iraq Afghanistan Service Grant for which a return is required

Disclaimers:

  • If the student is a first-time, first-year undergraduate student who withdraws within the first 30 days of the term, then that student may not be eligible to receive specific financial aid awards.
  • Critical: Students and parents who do not complete all required processes for federal/state financial aid PRIOR TO the withdrawal may not be eligible to receive any federal/state financial aid. This could mean a 100% loss of federal/state financial aid. Processes include but are not limited to: supplying verification documents, completing the Stafford loan entrance counseling online form, signing the Stafford Loan promissory note, and signing the Parent PLUS promissory note.

Miscellaneous Sources of Payment  Miscellaneous sources of payment are considered to be payments that do not fit into the institutional aid, federal aid, or state aid guidelines.

  • Private loans: May be required to be pro-rated based on financial aid eligibility after all of the institutional, state, and federal calculations have been completed.
  • Outside or private scholarships often require that the funds be returned to the sponsor agency if a student does not complete the term. These are handled on a case-by-case basis. Third party payments are handled on a case-by-case basis. Plans like the MEFA UPLAN prepaid tuition program may require unused funds to be returned directly to the UPLAN account.

Institutional Charges and Institutional Financial Aid Chart for the 2016-2017 Academic Year:

Date of Last Academic                              % Tuition, Room,                                  Deposits                                           Financial  Aid
Attendance                                                 Meal Returned 3

Prior To Term                                                100%                                                        All Deposits are forfeited                   All aid cancelled

Class Days: 1-5                                               100% 1,2

Fall Term: 08/29/16 to 9/2/16                                                                                       All Deposits applied to account1        All aid cancelled

Spring Term: 01/17/17 to 01/23/17              $500 processing fee will be applied

Class Days: 6-10                                             75%

Fall Term: 09/06/16 to 09/12/16                                                                                   All Deposits applied to account         Institutional aid: 75% returned

Spring Term: 01/24/17 to 01/30/17              No fees returned                                                                                                 Federal/state aid: per day pro-rate

Class Days: 11-15                                           50%

Fall Term: 09/13/16 to 09/19/16                                                                                   All Deposits applied to account         Institutional aid: 50% returned

Spring Term: 01/31/17 to 02/06/17              No fees returned                                                                                                 Federal/state aid: per day pro-rate

Class Days: 16-20                                           25%

Fall Term: 09/20/16 to 09/26/16                                                                                   All Deposits applied to account         Institutional aid: 25% returned

Spring Term: 02/7/17 to 02/13/17                No fees returned                                                                                                 Federal/state aid: per day pro-rate

Class Days: 21+                                              0%

Fall Term: 09/27/16 and after                                                                                        All Deposits applied to account         Institutional aid: 0% returned

Spring Term: 02/14/17 and after                  No fees returned                                                                                                 Federal/state aid: per day pro-rate                                                                   through the 60% date

1  The $500 withdrawal processing fee will not be applied to the accounts of students who did not check-in and did not attend classes.
However, if the fee is not applied then the deposit will be forfeited.

2  For withdrawals during the first 5 class days, the meal plan amount will be fully refunded with the exception of any monies spent on
Bison Bucks. The total Bison Buck monies spent will be added as a charge to the student account.

3  If the date of notification of the withdrawal is more than 24 hours later than the date of the last academic attendance, then Nichols
College reserves the right to charge room and/or board fees for the additional days at a rate of $50 per day.

All policies are subject to change at any time.

Undergraduate Adult Education Program Withdrawal/Refund Appeal Policy  UGA students who drop a course before the session starts, or during the posted Add/Drop period in that session, will receive a full refund of tuition and the course will not appear on their official transcript. Courses that are dropped after the last day of the Add/Drop period in that session are considered Withdrawals. No refund is issued for a Withdrawal and a “W” will be assigned to the course on their official transcript. In the event of extenuating circumstances, students who drop a course after the Add/Drop period may follow the procedure for requesting a Refund Appeal as stated on the Nichols College website.

Refund Checks Due to Excess Financial Aid

Monies are considered to be applied to the student account as follows (regardless of the date in which the monies are received):

  1. Federal Financial Aid
  2. State Financial Aid
  3. Nichols College Institutional Aid
  4. Miscellaneous Loans
  5. Cash and Checks
  6. Credit Cards

Refunds are applied in the reverse order of the received funds. Example, credit card payments are the first to be refunded (within 90 days) and then cash/check payments. Again this is regardless of the date on which the funds were actually received at Nichols College.

Refunds are normally automatically issued to the student when a credit balance is created. Students may sign a form to prevent the automatic issuance of refund checks; however, refund checks will still be available upon request.

General Policy

The College will continue to make every effort to contain costs from the date they are announced through the current academic year. The Board of Trustees, however, reserve the right to make changes in tuition and fees at any time. Normally, tuition and fees are reviewed annually by the Board of Trustees.

All charges must be paid in full each semester before a student may register for or attend classes. Any deviation must be cleared with Student Financial Services before published due dates. (Dates may vary slightly subject to College calendar.)

Delinquency in payment of College charges may result in the exclusion of the student from classes and further course registration. No official record of the student will be released until all charges are paid.

Statement of Student Financial Responsibility

Students are responsible for all costs and charges incurred and agree to remit payments to the College in a timely manner. The College provides several payment options for satisfying current obligations including a payment plan. Also explained elsewhere are the refund policies for students who withdraw from courses and withdraw from the College. In many instances, when a student withdraws, a financial obligation to the College still exists and must be paid in full before transcripts or other official documents are released.

The College actively pursues all outstanding accounts. We encourage discussion with slower paying accounts to work out alternative financing arrangements including promissory notes.

Inactive outstanding accounts will be referred to collection agencies and may result in legal action. Students are responsible for all collection and legal costs incurred in collection of outstanding balances. Such costs typically run an additional 33% to 40% of the outstanding amount.

Financial Resources

Monthly Payment Plan  Nichols College offers a monthly tuition payment plan through Tuition Management Systems (TMS). Monthly payment plans help to stretch a student’s remaining balance over time.

Veterans  Nichols College is approved for the training of eligible veterans. Contact Student Financial Services or the Registrar for details.