Payments
Schedule of payments. Statements including tuition, room, board, activities fee, health insurance, phone and network fee, laundry and general fee are mailed in July and December. The payment due date is August 1 for the fall semester and January 1 for the spring semester. Other fees and miscellaneous charges will be billed as incurred through the monthly billing process. Miscellaneous charges are due on the first of the month following the billing statement. Checks should be made payable to Wheaton College, include the student name and identification number, and be mailed as instructed.
To avoid late-payment fees, students should provide the college with an accurate and up-to-date billing address and complete payment by the published deadline. Please allow sufficient time to mail in payment, particularly if you experience difficulty with the postal service in your area. Late-payment fees will be assessed at the rate of $50 per month.
Payment policy. Full payment and/or acceptable documentation that demonstrates the balance will be fully paid must be received prior to the published deadline. Payment must be made in U.S. dollars and checks must be drawn on U.S. banks.
Acceptable documentation includes enrollment in the Interest-Free Monthly Payment Option, a copy of an award letter for an outside scholarship or a copy of a billing authorization or sponsorship letter.
Please note that loans based on the creditworthiness of the borrower may not be deducted without approval from the lender. A copy of an approval notice with disbursement dates will be accepted as documentation for this type of loan.
Late payment. Late payment fees will be assessed at the rate of $50 per month. Students who reside in campus housing may not be permitted to move into their campus residences until their accounts are settled with the Student Financial Services Office.
Wheaton College policy states that any student with a balance greater than $2,000 and 60 days past due may not be permitted to enroll. In addition, college policy requires the withholding of all credits, educational services, issuance of transcripts and certifications of academic records from any person whose financial obligations to the college (including delinquent accounts, deferred balances and liability for damage) are overdue and/or unpaid. If any overdue obligation is referred either to the college collection department or to an outside agency or attorney for collection efforts and/or legal suit, the debt is increased to cover all reasonable costs of collection, including collection agency and attorney fees and court cost. Accounts referred for collection may also be reported to a national credit bureau. By registering for any class in the college, a student accepts and agrees to be bound by the foregoing college policy as applied to any preexisting or future obligation to the college.
Late payments by bank or cashier’s check. The college reserves the right to require that a late payment be made in the form of bank or cashier’s check, payable to Wheaton College. This may be requested in cases where the student is seeking immediate clearance of a past due balance for such purposes as participation in registration, room lottery or release of an official transcript or diploma. A certified or bank check may also be requested if there is an account history of payments returned for insufficient funds.
Interest-Free Monthly Payment Option®. Education expenses can be easier to pay when spread over predictable, interest-free monthly payments. Our Interest-free Monthly Payment Option®, offered in partnership with Tuition Management Systems, Inc.,® is an alternative to large annual or semester payments and helps limit borrowing. The Interest-Free Monthly Payment Option® is available for an enrollment fee of $65, which includes: convenient, interest-free, monthly payments; life insurance coverage for your payment balance; 24-hour, toll-free automated account information through Family InfoLine and personal account service Monday through Saturday.
Families and students may also take advantage of Tuition Management Systems' free education payment counseling service, BorrowSmart®. This service helps families and students make informed choices about combining the Interest-Free Monthly Payment Option® with low-interest educational loans. Using BorrowSmart® helps you determine the loan amount you need, keeping your monthly payments within your budget and helping reduce debt burden after graduation. For more information or to enroll in the Interest-Free Monthly Payment Option®, call 800-722-4867 and speak with an education payment counselor.