May Mini 2014 Semester– Important Information
Payment Plan Information/Dates
STUDENT DROP REFUNDS
If a student drops a class and has paid their own tuition and fees (cash, check, credit card), depending on the drop date and percentage of refund – those refunds are issued on a weekly basis. Some charges are not refundable so you cannot take an exact percentage of what a student paid and get the amount of the refund.
STUDENT FINANCIAL AID REFUNDS
If a student has any type of aid (grant, scholarship or loan); the aid shows up on the student account as “authorized”. This authorization lets a student know that their aid is complete and available. The student will continue to see an amount due on their student account even though their aid is authorized. The reason for this is that their aid amount can fluctuate based on the number of hours they are enrolled.
On the Census Date (12th class day – for the TC campus, not the 12th day a student attends class) or within several days, the Financial Aid Office runs a process called “disbursement”. This process does not issue refunds to students. This process moves the authorized aid onto a student account as a payment. The payment will pay off any and all charges that it can (and are allowed). If the aid/payment is more than what a student owes (tuition/fee charges, bookstore charges), then that creates a credit balance on a student account. This credit balance is showing that Texarkana College owes the student a refund. The Business Office has 14 calendar days from the date of the Financial Aid disbursement date to issue a student their refund. A student will not get their refund on the disbursement date.
For example, the 16 week Spring 2014 semester that starts on 1/21/14 has a Census date of 2/5/14.
The Financial Aid Disbursement process will most likely take place on or about 2/11/14. If financial aid is disbursed on 2/11/14, the estimated time a student will get their refund is 2/24/14. It all depends on when your financial aid moves from “authorized aid” to “disbursed aid”. That is when the fourteen day count begins.
You must check your myTC student account to make sure your financial aid is complete and does not have any red flags on the Financial Aid Tab.
Based on the number of financial aid refunds we issue (thousands), it can take up to the 14 day timeframe. We do our best to issue them as quickly as possible but we review each student and their refund to make sure it is correct before it is issued. We also do not make exceptions and issue any refunds early or based on student circumstances.
If a student is a first time student and first time borrower, their loan disbursement is delayed for 30 days and that refund would be issued within 14 days of that.
METHOD OF REFUND
Make sure you activate your Higher One Card with your refund preference. Students that have not selected a refund preference can have a delayed refund. Students must contact the Business Office if they have not received their Higher One Card or want to discuss their refund preferences.
All students that do not have an active Higher One Card will be issued a paper check. Paper checks will be done at a later date than the normal Higher One batch for refunds. Effective March 1, 2014 – All paper checks will be mailed to the address on file in our Office of Admissions. Students will not be able to pick up checks after the 3/1/14 date (no exceptions).
The Texarkana College Business Office/Bursar Office is available to all students and the general public for the following:
Hours of Operation:
Texarkana College accepts the following methods of payments:
· WEB PAYMENTS
· IN PERSON PAYMENTS AT THE CAMPUS BUSINESS OFFICE (Cash, Check, Money Order, Visa, MasterCard)
· INSTALLMENT PAYMENT PLAN
· FINANCIAL AID
· THIRD PARTY AGENCIES
Make a Payment:
You can pay your tuition and fees online (myTC) or in person at our campus Business Office. Either way is very simple. For online payments you simply need to go to www.texarkanacollege.edu . You will see a myTC tab at the top of the page (right hand side). Click on the myTC tab and it will bring you to a login screen. There are instructions on the that page on User Names, Passwords and your T-Number(new student id number). Once you are logged in, just click through the following:
Student Tab (top of page)
My Account Section (bottom left)
Semester and amount will be seen along with Account Balance
Click on the semester to see the Description of charges
You will see the Summary of charges on this page. It will not include financial aid information. At the bottom of this page there is a link for Financial Aid Award Information and a link to pay your balance with a Credit Card. You can pay online with a credit card. Your parents can also make the payment. Once you are in the Shopping Cart Section to make your payment you will see a section for Parent PIN. This is where you can go to give parent s access to make payments on your account. If you pay in person, we also accept personal checks, money orders and cash.
Payments Using Payment Plan:
An installment payment plan is available at the campus Business Office. When initiating the payment plan the student will be required to pay 25 percent of eligible tuition, fees and housing (if applicable). There is a $30 setup fee which is due upon initiating the payment plan. The payment plan will have three additional 25 percent payments on specified dates for each term. The College assesses a fee of $25 for each late payment. Once a student initiates the plan and pays the fee of $30 – the additional payments can be made online to your student account. Payment Plans must be paid in full before the end of the semester and before another installment plan can be initiated. Receiving refunds for withdrawal from one or all courses does not relieve the student of making all payments under the payment plan when due and payable. A student must initiate their own payment plan – another person (parent, spouse, etc.) cannot complete the required form.
Payments Using Financial Aid:
If you have financial aid and you have received notification from our Financial Aid office that your award has been processed, you should be able to view these awards online. Once your awards have been finalized, Financial Aid will process this onto your Student Account. You will not have to come on campus to take paperwork from one office to another as you did in the past. This process in now online and your financial aid will post to your account as a payment against your tuition/fee charges.
You should go online to review your account to make sure your charges and financial aid have posted properly. If there is an issue you can notify the proper office regarding your question. If your financial aid award is more than your charges, you will receive your refund onto our new Higher One Card. (See Refund Section)
Payments using Exemptions and Waivers:
State law requires that students who receive exemption and/or waivers to tuition and fee charges make due progress toward the completion or a degree or certificate in order to continue receiving benefits. At Texarkana College, students receiving exemptions and/or waivers to tuition and fee charges must maintain all requirements listed in the Financial Aid Standards of Academic Progress (FA SAP). These requirements can be found at: http://www.texarkanacollege.edu/admfinaid/finaid/satisfactory-academic-progress/
Payments Using Third Party Referrals:
If you have a Third Party paying for your tuition (for example, Texas Rehab, WIA, or others), we must have the paperwork (referral) from the agency in order to post that to your account. It is your responsibility to make sure the agency has provided this document to the Texarkana College Business Office by the deadline of your payment. Once the Business Office has your referral, it will be posted to your Student Account as a payment against your tuition/fee charges – depending on what your Third Party agrees to pay.
You should go online to review your Student Account to make sure your charges and Third Party payments have posted properly. If there is an issue you can notify the Business Office regarding your question or your Third Party if needed.
Refunds and the myTC Card:
To be eligible for a refund, you must officially withdraw from Texarkana College by our published deadlines. Certain costs such as registration fees, parking and insurance are not refundable. A class day is defined as any day on which classes are held at the college – normally Monday through Friday. There is a chart that provides the refund deadlines and last day to drop for those parts of term (class lengths) existing at the time of schedule printing. Consult the Office of Admissions for deadlines not listed.
Applying for financial aid? You’ll need the myTC Card. Not receiving financial Aid? Yes … even you will need to have this card. The Texarkana College myTC Card will be issued to students when they have completed their registration process. The first batch should go out to students before classes start. The cards are automatically issued by TC and mailed by Higher One to students. All students will receive the card, whether they are scheduled to receive financial aid or not. This is not a credit card. This debit MasterCard ensures fast delivery of funds through electronic means, ending the process of issuing paper financial aid and refund checks.
Students need to make sure their address and personal information is correct on their student account (verify with our Office of Admissions). It is important that you activate your myTC Card immediately upon arrival, via the Web site listed on the back of the card, and keep it throughout your entire duration with the College for future financial aid/refund uses. For more information, please visit www.myTCcard.com.
Interest Earned on Title IV Funds
Title IV funds drawn down from the G5 system are automatically deposited into a separate interest-bearing bank account that is reconciled on a monthly basis. The interest earned on these funds will also be reconciled on a monthly basis and any interest earned in excess of $250 will be returned to the Department through the G5 system by June 30th of the current award year.
Contact Us: 903-832-5565
Student Accounts Receivable: ext.3331
For Faculty and Staff
Banner Budget Query
There are four elements that make up our chart of accounts. These four elements are Fund, Organization, Account, and Program. The Fund Code shows ownership of cash or fund balance. The Organization Code represents a department or other budgetary unit (who is spending the money). The Account Code is a line item within the financial structure to show what item or service is being purchased. The Program Code is used to classify expenditures by function (this is used for state reporting purposes).
Contact Ricky Boyette at ext.3274
Person of contact (ext.3234 or 3243)
Karen Cowan, Business Office Manager ext.3268