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Section 7: Tuition, Billing and Financial Aid

7.1       Tuition Requirement

Full-Time program: MBA candidates must pay Full-Time tuition for four semesters. FlexTime program: MBA candidates must pay FlexTime tuition for 192 units.

Students receive degrees only after meeting all university financial obligations


7.2      Billing and Payment

The Student Accounts Office in the HUB generates student E-Bills on the last day of each month and sends email notifications to approved email addresses when the document is ready for viewing. Account balances may change frequently so all students are encouraged to visit SIO for their most current account balance. Charges incurred during the month are due on the 15th of the following month.  Student accounts are administered by the Student Accounts Office in The HUB. In depth information may be found on The HUB’s website, http://www.cmu.edu/hub/billing/index.html.


7.3      Students with Delinquent Accounts

Students are responsible for paying their student account charges by the stated payment deadline.  Please reference the current Student Financial Obligation Statement at: http://www.cmu.edu/hub/billing/sfo/index.html


7.4      Sponsor Billing & Third-Party Payments

If an outside entity, government or a third party assumes responsibility for all or part of your educational expenses, you may be able to take advantage of the benefits of participation in the sponsored billing process offered by the University. See http://www.cmu.edu/hub/billing/sponsor/index.html for details.


7.5       Summer Tuition (Full-Time Students)

Full-time MBA students may take courses during the summer between their first and second years.  Students are responsible for summer tuition at the non-matriculating student per-unit rate, which is established each year in the spring.

Tuition paid for these courses is subsequently credited to the student’s account for the final semester of the second year in the MBA program. Students are advised to check with the Tepper School Financial Aid Office to discuss future implications for financial aid eligibility.

Students who have not met the MBA requirements for graduation have until the end of the summer (mini 6) to complete them and are charged tuition at the “non-matriculating-time” student rate on a per unit basis.


7.6       Tuition Refund

Full-time students who withdraw by the course drop deadline receive a 100% credit of tuition charges for that enrollment period.  After the course drop deadline, tuition is non-refundable and remains charged at 100%.

*This refund policy does not apply to residents of Maryland participating in programs delivered via distance education. The University’s tuition adjustment policy applies to tuition refunds for Maryland residents in these programs.

Dismissal

Students dismissed at any time for unsatisfactory academic standings or infractions of regulations are not refunded tuition or related fees.


7.7       Tepper School Financial Aid Office

Financial aid for MBA students is administered by the Tepper School Financial Aid Office in GSIA 226. Complete information about financial aid is listed on www.tepper.cmu.edu/gradaid. MBA students may also email tepper-aid@andrew.cmu.edu for more information about financial aid.


7.8       Loans

Eligible students may apply for education loans to pay tuition and allowable education-related costs. An international student must have a credit-worthy cosigner in order to borrow an education loan. See www.tepper.cmu.edu/gradaid or email the Tepper School Financial Aid Office at tepper-aid@andrew.cmu.edu to learn more about loan options. All federal loans and most non-federal loans require students to be enrolled for at least 18 units per semester and meet all other qualifying factors. Borrowers with pending loans must complete the enrollment process before loan funds are credited to student accounts.


7.9       Satisfactory Academic Progress for Financial Aid (SAP)

Financial aid recipients are required to maintain satisfactory academic progress in their course of study for continued eligibility. Students are required to complete 75% of their attempted courses each semester, maintain the minimum cumulative grade point average as required by their program of study, and complete their program of study within a maximum period of 1.5 times the standard program length in order to maintain financial aid eligibility. The complete SAP policy may be found on our website, http://www.tepper.cmu.edu/current-students/current-graduate-students/financial-aid/consumer-information/index.aspx.


7.10  Federal Financial Aid Adjustments for Students Who Withdraw

Irrespective of tuition charges, when students withdraw, federal financial aid is adjusted in the following order on a pro-rated basis as per federal regulations until 60% of the semester is completed.

Federal Direct Unsubsidized Loan

Federal Perkins Loan

Federal Direct Grad Plus Loan

Students who are withdrawing before 60% of the semester is completed are encouraged to visit the Tepper School Financial Aid Office in GSIA 226 to learn what portion of disbursed financial aid is unearned and must be returned to the lender. The financial aid adjustment policy is listed on http://www.tepper.cmu.edu/current-students/current-graduate-students/financial-aid/student-account-billing-and-payment-information/index.aspx
 


7.11  Important Financial Aid Dates

You may find  information on our website about financial aid and tuition due dates, expected refunds dates, and other important dates that may help you with your financial planning. See  http://www.tepper.cmu.edu/current-students/current-graduate-students/financial-aid/important-dates-deadlines/index.aspx.


 

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