Financial Information

Expenses 2015-2016 Academic Year

Note: All requests for adjustments to the above meal plans (refer to The Student Handbook) must be made to the dean of residence life or his or her designee. These requests must be submitted in writing no later than the second week of classes.

Special Fees 2015-2016 Academic Year*

* Tuition, room and board, and special fees are subject to change each academic year.

All fees are payable in full and in advance at the Office of the Bursar on or before August 15 for the fall semester and on or before December 15 for the spring semester. If a student account is not paid by August 15 for the fall semester and December 15 for the spring semester, the account may be assessed a $100 late fine and placed on financial hold.

For all personal checks over $500 received within 10 days of registration, the account will remain on financial hold for 7 days pending clearance of funds by the bank. Holds will be removed immediately with payment of a certified or bank check, money order, or wire transfer only. Financial holds suspend the right of a student to register; make a housing deposit; receive a degree, grade reports, transcript, or letter of recommendation. In view of the continuing rise in the cost of living and the cost of College services, students are advised that the College may find it necessary to increase charges whenever such action is deemed necessary.

Checks should be made payable to: “Providence College.”

Deposits

Providence College Monthly Payment Plan

As an alternative to payment in full at the beginning of each semester, Providence College offers an optional payment program for those who wish to pay monthly.

Under this program, families may budget their educational expenses in 10, 9, or 8 equal installments (beginning June 1 and ending March 1), eliminating one large payment prior to each semester. Tuition, room, board, and fees for the upcoming academic year may be budgeted under this plan.

An $85 application fee includes automatic life insurance coverage and monthly billing statements. There are no interest charges.

Information and application forms for this program are mailed to all students in May. For more information, please contact the Office of the Bursar by phone at 401.865.2284, by e-mail at bursar@providence.edu, or write to Providence College, Office of the Bursar, 1 Cunningham Square, Providence, RI 02918.

Each student is required to choose one or the other payment option prior to the start of each academic year. No other arrangements are allowed.

Collection

In the event a student is in arrears as to any monies due and owing to the College at anytime during matriculation, graduation, withdrawal, or upon dismissal, the College reserves the right to collect these funds in a manner which may result in additional collection/legal fees and costs.

Withdrawals and Refunds

A student who, for any reason whatsoever, withdraws from the College during the semester, must immediately notify in writing the Office of the Dean of Undergraduate and Graduate Studies and state the reason for withdrawal. Refunds of tuition, room, board, and fees will be made according to the following schedule. In all cases, the official withdrawal date is the date the written notification is received by the Office of the Dean of Undergraduate and Graduate Studies, and this date affects all financial calculations in determining refunds, if any.

Exceptions to this refund schedule may be given in cases of deployment of students who are active duty personnel in the United States Armed Forces, National Guard, or Reserve.

Written withdrawal notification received by the Dean in the:

Return of Title IV Funds

Providence College is required by federal and state regulations to make known the following information to financial aid recipients: Upon withdrawing from the College during the first 60 percent of the enrollment period, a student earns Title IV funds in direct proportion to the length of time he or she remains enrolled. That is, the percentage of time during the period that the student remains enrolled is the percentage of disbursable aid for that period that the student earned. Again, written withdrawal notification serves as the date of a withdrawal. In cases where a student unofficially withdraws from the College (defined as having earned NO grades during that semester), the student will be subject to a similar refund calculation based on the last day of academic-related activity or back to the 50 percent point of the semester. A student who remains enrolled beyond the 60 percent point earns all aid for the period.

Example of Return of Title IV Funds Calculation:
A student officially withdraws from the College in the fourth week or on the 22nd day of the semester. The semester is defined as 15 weeks x 7 days per week or 105 days. The student’s total financial aid package is:

Formula:

Step One:

22 days - 105 days in enrollment period = 21% of enrollment period completed. Percentage of aid earned = 21%.

Step Two:

$7,059 total aid x 21% = $1,482 total aid earned.

Step Three:

$7,059 total aid - $1,482 total aid earned = $5,577 total aid unearned.

Step Four:

$5,577 unearned aid to be returned to Title IV funds.

Refund Distribution

Prescribed by law and regulation

1. Unsubsidized loans
2. Subsidized loans
3. Federal Perkins Loans
4. PLUS Loans
5. Federal Pell Grants
6. Federal SEOG

Banking Facility

Two automatic teller machines (ATMs) are located on the ground floor of the Slavin Center for the convenience of the students.

PC Card and PC Cash Account

The PC Card is the College’s identification card and much more. The PC Card is also a meal card, a library card, an access card to residence halls and the Concannon Fitness Center, a means for tracking attendance, and a safe and convenient way to make purchases on campus.

The PC Cash Account is a debit account used to make purchases at locations on and off campus including the PC Bookstore, the Friar Buyer, McPhail’s, and vending and copy machines. For more information, contact: 401.865.CARD (2273) or visit www.providence.edu/pccard for links to the PC Card page.