Paying Your Tuition Bill
RECEIVING YOUR FINANCIAL AID AND PAYING YOUR BILLS
Student Financial Services creates a “student account” for each student. This account is used both for charges (tuition, housing, meal plans, etc.) and for payments and financial aid awards. The student account is available for you to review at any time on the Student Information System (SIS) at http://www.yale.edu/sis. During the summer, Yale sends incoming students a NetID along with instructions on how to activate the NetID and how to access your student account on the Student Information System.
Financial Aid awards, loans and grants, are disbursed to a student’s account on the first day of each semester. The full loan amounts are disbursed 50% in the fall term and 50% in the spring term. Please note: the fall semester covers five months (September through January) and spring semester covers four months (February through May). Please plan accordingly.
You can view and pay your term bills and monthly bills using the SIS eBill-ePay system- select the Student Accounts tab at the top and then eBill-ePay. Any awarded aid will appear as "anticipated aid" until it actually disburses on the first day of the term. You are responsible for making payment of any charges beyond those covered by your aid award or if you intend to decline aid. If you prefer to pay by check, the remittance advice (payment stub) is required and can be printed from the Main Menu within the eBill-ePay system. The complete mailing instructions are on the remittance advice and is required to be submitted with each check payment to assure accurate, efficient and timely posting to your student account. All bills must be paid in U.S. currency. Checks should be payable in U.S. dollars drawn on a U.S. bank. All other checks will be returned to the sender without being processed. Fall 2014 term bills are due by August 1, 2014 and Spring 2015 term bills are due by December 1, 2014. Failure to pay any portion of the bill by the due dates will result in late fees.
USING YOUR FINANCIAL AID TO RECEIVE A REFUND
Funds in your account are first applied to any core Yale institutional charges, for example, your term bill. If there is a credit on your account due to excess funds over the amount of your core charges (for example, if you took out loans to cover living expenses), you are entitled to a “refund.”
|Tuition and fee bill per semester:||$ 29,025(debit)|
|YLS Grant per semester:||$ 12,500(credit)|
|Student Loans per semester:||$ 21,000(credit)|
|Credit available to you as a refund:||$4,475|
You can request refunds of credit balances on the SIS system by selecting the Student Accounts tab at the top and then Refund Request from Student Account. Credit balances in your Yale Account will be available as refunds on the first day of each semester. Since it may take a few days for the refund to be processed, be sure to bring sufficient funds to cover your expenses during Orientation and the first week of the semester. If you wish to have your refund directly deposited into your personal bank account, select the Student Accounts tab at the top and then select Direct Deposit Authorization. If you change bank accounts, please update your new account information here as well.
THE YALE PAYMENT PLAN
The Yale Payment Plan (YPP) is administered by the University’s Office of Student Financial Services and enables students and families to pay all or a portion of the term bill in ten monthly installments beginning at the end of May preceding the academic year. The only fee associated with YPP is an enrollment fee of $100.
If you are participating in the Yale Payment Plan, your Yale student account will be credited with one-half the annual contract amount each semester. If your YPP account becomes delinquent (not paid by the payment plan due date), the unpaid contract balance may be charged to your regular Yale student account, and be subject to applicable late payment fees.
The enrollment form can be found online in the Yale Payment Plan section of the Student Accounts Web site: www.yale.edu/sfas/financial/accounts.html. For additional information, please contact Student Financial Services at (203) 432-2700 and select “Press 1” from the Main Menu.
Yale Tuition Insurance (YTI) is designed to protect you by alleviating the loss of funds you paid for tuition, room and board should you find it necessary to withdraw from school during the term for medical reasons. This plan complements Yale’s published refund policy, assuring you of a significant tuition refund any time during the term.
Eligibility: YTI is available to all Yale students.
Cost: The cost is based on the total amount of tuition and other insured expenses. Call A.W.G. Dewar, Inc. at (617) 774-1555 for an application form which contains the specific cost for your school.
For coverage and exclusions: See www.yale.edu/sfas/financial/tuition_ins.html for full details.
Application and deadlines: Call A.W.G. Dewar, Inc. at (617) 774-1555 for an application form which contains the specific cost for your school. Complete and return the application to the address indicated on the application. The application and payment for YTI must be mailed so that it is postmarked prior to the opening date of classes.