Economy may be to blame for late tuition payments
Samantha Gallo
News Writing Student
The economy appears to be taking a bite out of student budgets, leaving many short of funds to pay their tuition.
According to Bursar’s Office records, 3,200 students are behind in paying their monthly tuition charges, out of about 4,000 students using monthly payment plans.
While the number of students taking advantage of monthly payments has remained about the same in comparison to recent years, the number of students not making their minimum monthly payments is up approximately 12 percent from the same time last fall, said Brandi Henson, bursar.
“I have no doubt that the state of the economy is affecting students’ ability to pay,” Henson said.
Many students are finding themselves deep in late charges as they struggle to make their payments on time.
“Living on a budget is hard,” said Luke Davis, business freshman, who has found himself making late tuition payments. “No matter how much you try to keep up with things, getting behind just seems unavoidable.”
Henson said students who don’t pay all of their tuition by the first day of the semester are allowed to make monthly payments while being charged a 2 percent finance charge on the unpaid balance each month.
If the payments aren’t made by the due date, students are charged a $20 late charge and the bursar places a hold on their account, she said.
This hold means students can no longer enroll in or drop any classes and receive grades or official transcripts.
If tuition is not paid by the end of the semester, students will receive a “past due” statement informing them of a final due date. If tuition is not paid by that time, their account will be sent to the collection agency, Henson said.
Despite the bleak economic outlook, there is some hope for struggling students.
Students can still seek federal financial aid by filing the application (known as FAFSA).
Henson said she encourages all students to apply for financial aid, even if they’ve been denied in the past.
“You never know what changes in eligibility may have been made,” she said.
“Even if you think you won’t qualify for federal aid, you should complete the FAFSA anyway.”
For students who don’t qualify for financial aid, Henson said students should get their financial affairs in order.
“You need to budget and do everything you can to stick to it,” she said.
“You should be able to determine what you can afford to pay each month and then determine how many classes you can afford to take.”
