Santa Clara University

Leavey School of Business

Financial Information

FINANCIAL RESPONSIBILITY

Students assume responsibility for all costs incurred as a result of enrolling at Santa Clara University. It is the student’s responsibility to be aware of his/her account balance and financial aid information, and to maintain current valid address information at all times to ensure receipt of all University correspondence in a timely manner.

FINANCIAL TERMS AND CONDITIONS

Students are required to accept the financial terms and conditions outlined by the University in order to continue their enrollment at SCU. Students will be prompted to accept the terms and conditions, on an annual basis, upon their login to ecampus. Students will not have access to their Student Center until they have read and agreed to the information contained on the page(s) prompted. By accepting SCU’s financial terms and conditions, students are agreeing to pay for services rendered by the University and to abide by all policies and procedures as published.

TUITION AND FEES

The Board of Trustees, upon the recommendation of the president and the provost, sets the annual academic year tuition rate and the summer session tuition rate for all programs. Students are charged tuition based on the rates approved by the Board of Trustees. Refer to: www.scu.edu/about/tuition.cfm for details. Tuition and fee rate differences found in other publications will not be honored.

MBA/MSIS tuition, per quarter unit (evening and accelerated programs) $915
MBA/MSIS course audit fee, per quarter unit (for alumni only) $533
MSE/MSF tuition, per quarter unit $1,015
Late registration fee $100
Late payment fee (per billing statement) $75
Course drop/swap fee (per course) $50
MBA/MSIS Student Activity Fee (evening and accelerated programs) $50

This fee is payable each quarter of registration regardless of the number of units for which the student is registered.

MANDATORY HEALTH INSURANCE

Annual international student health insurance fee $2,417

International Students on an F-1 visa must either enroll in the University sponsored insurance plan or show proof of their own health insurance plan by completing the on-line waiver form by the deadline date of August 21, 2013. The waiver will be accepted if the student’s insurance is comparable to the University sponsored plan. If the student does not submit an acceptable waiver, they will be automatically enrolled in the University sponsored Aetna PPO insurance plan and their student account will be charged $2,417.00 for the annual insurance policy. For details on completing the waiver or on-line enrollment option go to www.scu.edu/cshc/insurance.cfm.

If you would like to be enrolled in the SCU sponsored Aetna PPO insurance plan, domestic students must initiate the enrollment, and pay for the plan via the on-line enrollment option. Please use the same link as noted above. All students, regardless of insurance, are welcome to use the Cowell Health Center at any time.

OTHER FEES

Non-refundable application fee ($150 for international students) $100
Enrollment Deposit (evening program) $300
Academic transcript fee (per copy) No Charge
Thesis submission fee $30
Returned check fee $25
Refund replacement fee $25
Equivalency examination fee (per examination) $100
Application reconsideration fee $50
Reapplication fee $75
Parking permits (per year) $300
Parking permits after 4:30 p.m. only (per year) $130

Parking permits are required for all users of University parking facilities. Permits can be purchased at Campus Safety Services in the parking garage. Parking per term may be arranged through Campus Safety Services.

BILLING AND PAYMENT PROCEDURES

Student Accounts and Billing
Students assume responsibility for all costs incurred as a result of enrolling at Santa Clara University and agree to abide by applicable University policies and procedures. Students may designate a third party (e.g. spouse) to be an authorized payer for their student account. That individual is authorized by the student to have access to his/her billing statements and to make payments on the student’s behalf. However, it is still the student’s responsibility to make sure all financial obligations are completed by the published deadlines. Once authorization is arranged, the authorized payer will be notified via the e-mail address provided by the student. Authorized payers do not have access to any other student account information via this website.

Students receive monthly bills electronically via a third-party vendor that are accessible through University eCampus. A billing notification will be sent to the student’s University e-mail address and to the e-mail address of any payer authorized by the student. Students also may forward their student account statements electronically to any third party they authorize for remittance. Information on a student’s account cannot be provided to third party payer unless a completed Family Educational Rights and Privacy Act form authorizing its release by the student is on file with the University.

Students are obligated to pay the applicable tuition and fees associated with their enrollment status by the published payment deadline. Students enrolling after the initial billing of any quarter may be required to pre-pay for tuition before enrollment is granted. Registered students who do not withdraw formally from the University are responsible for all tuition and fees assessed to their accounts as well as any penalty charges incurred for nonpayment. Nonattendance does not relieve the student of his or her obligation to pay tuition and fees.

More helpful information, including detailed instructions on Santa Clara’s billing and payment procedures, are located at www.scu.edu/bursar.

Billing Dates and Deadlines

Fall 2013 Billing available September 1 payment due September 21
Winter 2014 Billing available December 1 payment due December 21
Spring 2014 Billing available March 1 payment due March 21
Summer 2014 Billing available May 1 payment due May 21

Payment Methods
Santa Clara University offers the following payment methods to students to assist with their financial obligations:

Payment by Electronic Check
A student or authorized payer may make online payments by authorizing a fund transfer directly from his/her personal checking or savings account through a third-party website accessible via the University eCampus system. The payer is able to make electronic check payments online without incurring a transaction fee.

Payment by Mail
Payments for student account charges are accepted by mail using the University’s cash management service lockbox. The payer should download a copy of the student’s billing statement, enclose it with a personal or cashier’s check payable to Santa Clara University, and mail both to the Santa Clara University Bursar’s Office, P.O. Box 742657, Los Angeles, CA 90074-2657.

Payment In Person
Payments for student account charges may be made in person by personal/cashier’s check, money order or cash at the Enrollment Services Center in the Admissions & Enrollment Services Building. The University is not able to accept any electronic form of payment, including debit or credit cards. However, there are computer kiosks located in the Enrollment Services Center for the convenience of students and payers to make electronic payments.

Payment by Wire Transfer
International students may submit payment quickly and securely at www.scu.peertransfer.com.

Students are able to benefit from excellent exchange rates and payment can usually be made from the student’s home currency.

Payment Plans
Students have the option to enroll in a monthly payment plan, through a third-party vendor, for tuition and housing costs to assist with budgeting needs. There is a modest fixed fee to enroll in these plans, but no interest or fees are charged while your plan is active and current.

Please note: This option is not a deferral for students with financial aid. All aid will be applied to the students account and any remaining balance can be placed on a payment plan. More information can be found on the Bursar’s Office webpage.

Delinquent Payments
If all charges on a student’s account have not been cleared by payment, financial aid, or loan disbursement, a late payment fee will be assessed to the student’s account and a hold will be placed on the student’s record. A hold on a student’s record prevents the release of transcripts or diplomas, and access to any registration services, and may limit access to other University services. Students who have unpaid accounts at the University or who defer payment without approval are subject to dismissal from the University. All unpaid balances will accrue 10 percent interest per annum on the balance remaining from the date of default, in accordance with California state law.

Delinquent student accounts may be reported to one or more of the major credit bureaus and may be forwarded to an outside collection agency or an attorney for assistance in recovering the debt owed to the University. The student is responsible for all costs incurred to collect outstanding debt, including but not limited to accrued interest, late fees, court costs, collection fees, and attorney fees. All outstanding bills and costs of collection incurred by the University must be paid in full prior to a student re-enrolling at the University.

Refunds for Credit Balances
Refunds will be granted only for student accounts reflecting a credit balance. A refund will not be granted based on anticipated aid. All financial aid must be disbursed into a student’s account before a refund is processed. It is the student’s responsibility to make sure all necessary documentation is complete and submitted to the Financial Aid Office so that aid can be disbursed properly and in a timely fashion. Payment received by personal check will have a 21-day hold before a refund can be issued; a 5-day hold for electronic check payments. The refund process begins after the late registration period.

Billing Disputes
If a student believes there is an error on his or her billing statement, a written explanation should be forwarded to: Santa Clara University, Bursar’s Office, 500 El Camino Real, Santa Clara, CA 95053-0615. The Bursar’s Office must receive written correspondence within 60 days from the billing statement date on which the error appeared. Communication can be made by telephone, but doing so will not preserve the student’s rights.

Communication should include the student’s name, SCU identification number, the amount in question, and a brief explanation. Payment for the amount in question is not required while the investigation is in progress. An adjustment will be made on the student’s account for any incorrect charges. If the amount in question is found to be valid, payment must be submitted to the Enrollment Services Center immediately upon notification.

TUITION REFUND POLICY

Students who formally withdraw from the University or drop courses are eligible for tuition refunds in accordance with the policies outlined below. No refunds are made for registration fees, student activity fees, or course audit fees.

The effective date used for the determination of any tuition refund is the date on which notification of withdrawal is received by the student’s respective Records Office or the date in which the student drops his or her course online—not the last date of attendance. Students who fail to drop a course, even if they do not attend, or fail to notify the University of their intent to withdraw, regardless of the reason, will be responsible to pay all tuition and fee charges.

Neither informing an individual faculty member, an academic department, nor the Dean’s Office constitutes an official withdrawal from the University. The official date of withdrawal from the University cannot be backdated prior to the date on which the student submits the applicable withdrawal form or the Records Office receives notification.

Fall, Winter, and Spring Quarters
Students who drop courses or withdraw from the University during fall, winter, or spring term will receive a tuition refund in accordance with the following:

  • By the end of the first week of classes – full tuition refund for the term, less any applicable fees
  • By the end of the second week of classes – a 50 percent tuition refund for the term, less any applicable fees
  • By the end of the third week of classes – a 25 percent tuition refund for the term, less any applicable fees
  • After the third week of classes – no tuition refund for the term

Please note: Students may drop courses online until 11:59 p.m. on the Sunday immediately following the beginning of the term and still receive a 100 percent refund. However, this is only valid if a student has no registration holds and does not require assistance from a staff member. All other transactions must be completed by 5 p.m. on the first Friday of the term.

Summer
Students who drop courses or withdraw from the university during the summer session term will receive a tuition refund in accordance with the following:

  • By the end of day of the second class meeting – a full tuition refund, less any applicable fees
  • By the end of day of the third class meeting – a 50 percent tuition refund, less any applicable fees

Saturday/Sunday/Off Cycle Courses
Students enrolled in a weekend course in which the first class meeting is after the first week of the term must provide written notification to their respective Records Office of their intent to withdraw or drop any weekend/off cycle course(s). Failure to comply with this process will result in an irreversible forfeit of tuition.

The following refund schedule applies:

  • Students will receive a full tuition refund, less any applicable fees, if written notification is received by 5 p.m. on the Tuesday immediately following the first class meeting.
  • Students will receive a 50 percent tuition refund, less any applicable fees, if written notification is received by 5 p.m. on the Tuesday immediately following the second class meeting.

After the first week of the quarter, students must provide the Graduate Business Programs Office with a written request to drop a weekend course. To receive tuition refunds from the Bursar’s Office, these course drops must be handled administratively. Students should NOT drop a weekend class themselves through eCampus after the first week of the quarter.

One-Unit Courses
Students enrolled in a one-unit course must provide written notification to their respective Records Office of their intent to withdraw or drop any course(s). Failure to comply with this process will result in an irreversible forfeit of tuition.

The following refund schedule applies:

  • Students will receive a full tuition refund, less any applicable fees, if written notification is received within two business days prior to the first class meeting.
  • Students will receive 50 percent tuition refund, less any applicable fees, after the first class meeting unless the course has only one session, in which case no refund will be granted.

Financial Hardship
Students who withdraw from the University or drop courses due to an illness, injury, or psychological/emotional condition are eligible for a tuition refund in accordance with the schedule above. Tuition insurance may be purchased to cover tuition charges for medically related withdrawals that occur after the first week of the term.

Santa Clara degree students who withdraw from the University or who are administratively withdrawn from the University after the third week of the term due to a qualifying financial hardship may be eligible for an allocation from the student hardship fund for 25 percent of the tuition charges for that term. Qualifying financial hardships include: (1) death, disabling injury, medical emergency, (2) loss of job by an independent student, (3) medical or other emergency involving a dependent of an independent student, and (4) student deployment for active military duty. The vice provost for student life or designee, in consultation with the Financial Aid Office, will determine qualifying financial hardships and any allocation from the student hardship fund. Students must submit a request for an allocation from the student hardship fund by the end of the applicable term.

No tuition refunds are made because of curtailed services resulting from strikes, acts of God, civil insurrection, riots or threats thereof, or other causes beyond the control of the University.

TUITION INSURANCE PROTECTION

Students may protect themselves from loss of funds paid toward tuition/fees, by purchasing tuition insurance provided by A.W.G. Dewar Inc. This low cost plan is designed to assist those that have an unexpected withdrawal from the University due to medical reasons. Plan enrollment is available annually or by quarter. Enrollment must be complete before the first day of school to be eligible for insurance benefits. For more information visit: www.collegerefund.com.

EDUCATIONAL TAX CREDITS

Students may be eligible for a higher education tax credit designed to help students finance the cost of education. Tax credits are based on the amount of qualified tuition and fees, less grants and other tax-free educational assistance, and the taxpayer’s adjusted gross income. Students enrolled in an eligible degree program may qualify for a Hope Scholarship Credit or Lifetime Learning Tax Credit. Specific information is available from the Internal Revenue Service.

FINANCIAL AID

Financial assistance for Graduate Business Programs students is available. The University Financial Aid Office administers student loan programs and other state or federal grants (except veterans’ assistance) and federal work-study. Contact the Enrollment Services Center at 408-551-1000 or visit the Financial Aid website. Partial scholarships are available for admitted students through the Leavey School of Business.

MBA/MSIS Financial Scholarships and Assistantships
For those students who demonstrate additional financial need and meet academic standards, the Graduate Business School provides limited student aid in the form of scholarships that covers partial tuition. These funds are awarded by the Graduate Business Admissions Office and disbursed by the Financial Aid Office. The two main types of financial aid available to graduate students in the school of business are:

  • Merit-Based Scholarship: Students receive these scholarships based on previous outstanding accomplishments such as community service, professional accomplishments and outstanding scholarship. Decisions are made at the discretion of the Graduate Business Admissions Office.
  • Need-Based Scholarship: Students are selected based on special circumstances such as significant personal hardship or loss of employment that has dramatically increased their financial need.

Financial Scholarships are only available to U.S. citizens and permanent residents of the United States. Students who require an F-1 visa are ineligible for scholarships and federal aid.

Questions regarding visa status and international student status may be directed to Santa Clara University’s International Student Services, 408-551-7090.

Federal Direct Loans
Financial aid is available to MBA/M.S. students who are U.S, citizens or eligible non-citizens. To apply, complete the Free Application for Federal Student Aid (FAFSA) form.

William D. Ford Federal Direct Unsubsidized Loans
The unsubsidized William D. Ford Federal Direct Loan is a federally funded low-interest student loan administered by the United States Department of Education. Under the Federal Direct Loan program, a student may borrow funds for education-related expenses. Loan information:

  • Non need-based
  • Must be enrolled at least half-time
  • 6.8% fixed interest rate*
  • 1.051% origination fee*
  • FAFSA required annually
  • Must complete Entrance Counseling & a Master Promissory Note
  • Must meet satisfactory academic progress standards
  • Repayment begins six months after enrollment drops below half-time

*Subject to federal change

Additional information may be obtained from the Enrollment Services Center located in the Schott Admissions & Enrollment Services Building, 408-551-1000.

William D. Ford Federal Direct Graduate PLUS Loans
Graduate students may need to borrow beyond the unsubsidized William D. Ford Direct Graduate PLUS Loan to pay for their education. The William D. Ford Direct Graduate PLUS Loan program is designed to provide additional federal assistance to students. Federal Direct Graduate PLUS Loans are not based on financial need, but do require credit approval. Loan information:

  • Non need-based with credit approval
  • Must be enrolled at least half-time
  • 7.9% fixed interest rate*
  • 4.204% origination fee*
  • FAFSA required annually
  • Must complete Entrance Counseling & a Master Promissory Note
  • Must meet satisfactory academic progress standards
  • Repayment begins 60 days after final disbursement

*Subject to federal change

Additional information may be obtained from the Enrollment Services Center located in the Schott Admissions & Enrollment Services Building, 408-551-1000.

Private Alternative Loans
Private alternative educational loans are available from private lenders for students whose cost of attendance has not been met with other financial aid. The Free Application for Federal Student Aid (FAFSA) is not required to apply for a private alternative educational loan. Private alternative educational loan programs differ from the William D. Ford Federal Direct Loans in several important ways:

  • Annual and total loan limits are higher
  • Interest rates are normally variable rates that change on a quarterly basis
  • Loans and interest rates are based on credit approval and approval is not guaranteed
  • Loans are not federally guaranteed; therefore, do not have the same deferments, forbearance, cancellation and consolidation benefits

The terms and conditions for private alternative educational loans very greatly. Students are advised to compare loan programs before choosing a lender. Interest rates, fees and other provisions of these programs are subject to change by the lender. . Additional information may be obtained from the Enrollment Services Center located in the Schott Admissions & Enrollment Services Building, 408-551-1000.

Deadlines
The University Financial Aid Office has established deadlines for the programs it administers. All students requesting financial aid from the University should contact the Enrollment Services Center at the earliest possible date, and request specific deadline information and appropriate application materials. All financial aid deadlines are posted on the financial aid website at www.scu.edu/financialaid. The Enrollment Services Center and the Financial Aid Office communicates with students through SCU email addresses only.

Applications for scholarships administered by the Leavey School of Business have the following deadlines:

  • Fall quarter June 1
  • Winter quarter October 1
  • Spring quarter January 1

Veterans and Veterans’ Dependents Assistance
Santa Clara University is certified by the Department of Veterans Affairs as qualified to enroll students under applicable federal legislation and regulations, including Chapter 35 (child of a deceased or 100 percent disabled veteran, widow of any person who died in the service or died of a service-connected disability, or wife of a veteran with a 100 percent service-connected disability), Chapter 31 (rehabilitation), Chapter 30/1606 (active duty Montgomery G.I. Bill), Chapter 33 (post 9/11 GI Bill). Individuals interested in attending under any of the veterans’ assistance programs should contact the Veterans Administration and the University Office of the Registrar at 408-554-7831.

FINANCIAL AID CANCELLATION AND FUND RETURN

Students who withdraw from the University and who have received federal financial aid are subject to the federal regulations applicable to the return of Title IV funds. These regulations assume that a student “earns” his or her financial aid based on the period of time he or she remains enrolled during a term. A student is obligated to return all unearned federal financial aid funds governed under Title IV other than those earned under the college work-study program.

Unearned financial aid is the amount of disbursed Title IV funds that exceeds the amount of Title IV aid earned in accordance with the federal guidelines. During the first 60 percent of the term, a student “earns” Title IV funds in direct proportion to the length of time he or she remains enrolled. That is, the percentage of time during the term that the student remains enrolled is the percentage of disbursable aid for that period that the student has earned. A student who withdraws after the 60 percent point of the enrollment term earns all Title IV aid disbursed for the period. The amount of tuition and other charges owed by the student plays no role in determining the amount of Title IV funds to which a withdrawn student is entitled.

All funds must be returned to federal programs before funds are returned to state or University financial aid programs or to the student. The return of funds allocation will be made in the following order for students who have received Federal Title IV assistance:

  • Unsubsidized William D. Ford Federal Direct Loan
  • William D. Ford Federal Direct Graduate PLUS Loan
  • Federal Perkins Loan
  • Other federal and state financial aid, private grants and scholarships
  • University grants and scholarships

VERIFICATION OF INFORMATION

The United States Department of Education requires all institutions disbursing federal financial aid funds to verify the accuracy of the information students submit as a basis for aid awards. Santa Clara University complies with this requirement by participating in the Federal Quality Assurance Program. Each year, a percentage of students receiving federal financial aid funds are randomly selected for verification of the information on which awards were based. Students selected for verification may be required to submit additional documents and verify information, such as household size and number of family members enrolled in college. The University reserves the right to request similar information for verification purposes for any student awarded aid. Information collected may result in changes to a financial aid award and, in some cases, the repayment of funds already received. Failure to comply with the request for this information will result in the cancellation of financial aid funds.

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