IMPORTANT FINANCIAL INFORMATION
Undergraduate students will be required to have a $250 reservation deposit on their deposit account while they are a student at Cedarville University. PharmD students will be required to have an additional $250 deposit when admitted to the program. These deposits will be refunded when students leave the University. No interest will be credited to students as part of the PIC program.
Notification of the University Bill
Students are responsible for and promise to pay Cedarville University, whether they are paying or someone else, the principal, interest charges and any other charges which accrue and are added to their student account while a student at Cedarville University. Invoices are sent to an email of the student’s choosing 20 to 30 days before the start of a semester. Due dates are posted on the Cashiers Office website. This payment obligation is binding whether or not electronic billing information is accessed. A paper bill may be requested for a $3 fee.
Students may pay their University bill using cash, checks, wires, or with a major credit/debit card. Credit/debit card users will be charged a convenience fee. Payment can be made at the Cashiers Office, by US mail, or online through the Self Service Student Finance portal.
If a payment is returned due to non-sufficient funds, students expressly authorize Cedarville University or its agent to add a returned item fee up to the maximum allowable state fee.
It is the student’s responsibility to meet all requirements for expected financial aid to be disbursed to their student account.
Students authorize Cedarville University to retain any credit balances including federal funds on their student accounts and to use these funds to satisfy all educational charges including fines and non-educational fees. Students may at any time during the academic year contact the Cashiers Office to request remittance of any credit balance generated from federal Title IV funds which will then be delivered within 14 days of receipt.
Students may voluntarily charge books and supplies or any other educationally related goods or services to their student account through the Bookstore or any other office on campus. Students expressly authorize the University to add these educationally related charges to their student account and for those charges to be paid with federal Title IV funds.
Withdrawals From a Student Account(Credit Balance)
Students with a credit balance may withdraw funds from their student account. Cash withdrawals totaling $100 may be made each week. No more than two cash withdrawals may be made in a week. Withdrawals greater than $100 will be paid electronically to a designated checking or savings account. Requests can be made online , by telephone, or in person. Payments will be sent within two to four business days. The Cashiers Office does not cash checks.
Students that withdraw from the University prior to the end of a semester are still responsible for paying any remaining balance on their student account. Students leaving with a credit balance may request a refund from the Cashiers Office. The effective date of the withdrawal from the University is determined by the Office of the Registrar. Failure to attend class(es) does not constitute an official drop or withdrawal, and the student must follow the current policies and procedures of Cedarville University. Processing of refunds will occur within 10 business days of withdrawal. Please see the Refund Policy for the tuition refund schedule.
Board/meal plan charges will be refunded on a proportionate weekly basis. A board week begins on Sunday and ends on Saturday. Board refunds are computed based on the last day of residency. Full board contracts are required for all students living in residence halls. Students can choose from seven different meal plans.
Rooms are reserved for an entire semester. Therefore no refund of room charges will be made except in cases of severe illness or incapacity as determined by Student Life.
All other fees are not refundable except for withdrawal within the 100% refund period.
Payment Plan and Penalties
Students that need additional time to pay their student balances may voluntarily participate in a payment plan. The payment plan allows students to spread their balance over three additional monthly payments. Cedarville University retains the right to charge an interest charge on any unpaid balances past the original due date, including students participating in a payment plan. Students that do not participate in a payment plan and do not pay their outstanding charges by the due date, may be denied access to campus resources, such as the dining hall or library. The University will charge a $25 late payment fee for any late payment or missing payment received beyond the due.
A student account with any outstanding amounts 90 days after the due date becomes delinquent. The University may be entitled to exercise one or more of the following remedies without notice or demand (except as required by law):
- The University may declare the principal balance plus interest charges and late fees immediately due and payable in full.
- The University may hire or pay a third party to collect the debt. The University’s third party collector may file an unfavorable report with credit bureaus and charge additional fees. The student authorizes the hiring of the third party collector and agrees to pay all collection fees that the University or its third party collector may incur to collect any unpaid balance on their student account.
- The University may prevent future registrations or withhold their official transcript, diploma or grades until all their financial obligations are met.
Students with Federal Perkins or Nursing loans that fail to repay their obligations timely will be subject to collections as mandated by current Federal government guidelines. Students and graduates may apply for deferment, forbearance, forgiveness, cancellation, or discharge for certain public service jobs and activities.
In accordance with the Family Educational Rights and Privacy Act (FERPA), Cedarville University is committed to the rights of students who are attending, or have attended, Cedarville University. A student’s right to privacy regarding their financial information is covered by FERPA. The student may, at their choosing, release financial information to another individual. See Cashiers office for more details.
Prepayment Incentive Credit Plan (PIC-Plan)
Students with a credit balance of $500 or more on a student account as of the first day of the month will be paid interest under the Prepayment Incentive Credit Plan (PIC-Plan). Interest is credited monthly and is taxable. The University will provide IRS form 1099-INT to any student that earns at least $10 in a calendar year. Interest rates may vary and are established on the first day of the quarter.
Students may not share their user name and password. Students may provide anyone access to their student account by signing them up for parent proxy access.
This Terms and Conditions is the current student account agreement between the student and Cedarville University and supersedes any prior agreement, oral or written. The failure of the University to enforce any Terms or Conditions of this agreement shall not be construed as a waiver of such or any other Terms or Conditions herein contained. If any provision herein is held to be invalid or unenforceable for any reason, the remaining provisions will continue in full force without being impaired or invalidated in any way.
The Cashiers Office is always available to answer any questions regarding this agreement or any activity on a student account.