For some families, paying for educational costs not covered by a student’s scholarships and grants requires some consultation with the Student Financial Services Office. Here are some financing ideas to get you started:
Your Expected Family Contribution (EFC) is the amount the government estimates (based on your FAFSA) you and your family can contribute to your college educational expenses.
Milligan offers an interest-free payment plan that is an easy, affordable way to pay for the year’s charges (not covered by other aid). See below.
Educational loans can be a useful tool to pay for college, but you are encouraged to borrow only enough to cover your necessary education-related expenses.
- The average Milligan loan debt at graduation last year was $23,500, which is $3,000 below the national average (less than $300/month payment)
- Milligan students pay off their loans much better than most college graduates (default rate is 3% compared to 14% nationally and 9% regionally)
- Educational debt is not the same as commodity debt, which only depreciates in value. Your education will continue to earn you more money over the course of your life, not less.
Payment Plan 1 – Pay in Full Prior to the First Day of Class
With this plan, all outstanding charges for the semester are paid on or before the first day of class. Payments may be made via cash, check, Visa, MasterCard, American Express, or Discover. For your convenience, you may pay online through Self Service, where you can view your account, print and view statements, make a payment online, and view a history of all payments on your account. By using your MC Self Service ID and password, you will have access to your online statement and current activity on your account. Payments and charges will be reflected immediately and you will have 24/7 access to your most recent bill.
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Payment Plan 2 – Tuition Payment Plan
Milligan offers an interest free payment plan that allows you to spread your tuition costs over nine or ten months if you cannot afford to pay tuition in a lump sum or to finance the difference between costs and financial aid. This plan can be used in conjunction with a Federal PLUS Loan and/or Alternative Loan to assist students and families in managing their educational debt. The payment plan enrollment fee for undergraduate students is $75 for the academic year. For MBA and ADCP students, the enrollment fee is $85 for the entire program. You must enroll by the time of registration and first day of classes. Click here for instructions on setting up the payment plan »
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Student Account: Things You Must Know
Course schedules will be purged for students who have not completed ALL financial aid processes AND paid the balance due on their accounts before the end of the drop/add period. Students will not be able to eat in the cafeteria or grill using their meal plans after course schedules are purged. Meals can be purchased with cash from Pioneer during this time. Housing assignments will end at noon on Friday, following the purge date, for those students who have not successfully re-enrolled by that time.
A $100 re-enrollment fee will be assessed to all students whose registrations are purged and who must re-register for classes. All financial issues will have to be addressed satisfactorily before a student will be able to re-register for classes. It will be the student’s responsibility to know the purge dates each semester.
Purge Dates for 2016-17:
- Fall: August 30, 2016
- Spring: January 25, 2017
Before First Day of Class
The following should be completed before the first day of class:
- Pay entire balance due or enroll in the Tuition Payment Plan
- Sign and return award letter
- Complete master promissory note
- Complete on-line entrance interview for first time borrowers
- Return all documents requested for verification, if applicable
- Milligan College Financial Aid Application (does not apply for incoming traditional undergrad students)
- Submit pre-approval for alternative loans
- Submit final high school transcript
- Complete Parent Plus loan application, if applicable
- Communicate to SFS all payments expected from VA or 529 savings plans
This is not an exhaustive list of tasks which might need to be completed. See your SFS counselor about your specific situation.
If all of the required steps are not completed during registration, then students will sign a promissory note for the amount owed to the College and will have 2 weeks to resolve the issues and pay the balance.
Any student with an unpaid balance at the end of the day on the purge date will have their course schedule purged and will no longer be allowed to attend classes. In order to re-enroll, students will have to satisfactorily resolve all financial issues and will be assessed a $100 re-enrollment fee.
Charges shown on the student statement include tuition, fees, room and board. Once you enroll, you are liable for all charges.
Pending Financial Aid
Aid that is listed on the student statement is aid that has been awarded to you but is still in ANTICIPATED/PENDING status. Your financial aid will be posted to your student account upon verification of enrollment status after drop/add period ends and all necessary aid paperwork is completed. Pending aid does not include work study, outside scholarships, VA benefits, or payments from Section 529 savings plans.
Refunds for dropped classes
- Prior to first calendar day of semester: 100%
- During first five calendar days of semester: 90%
- During 6th-14th calendar days of semester: 75%
- During 15th-30th calendar days of semester: 50%
- No refunds after 30th calendar day of semester
The meal plan is prorated.
Your Milligan College email account is used regularly to notify you of important information regarding your financial aid and/or student account.
Complete policies and detailed information regarding financial aid and student accounts can be found in the college Catalog.