[Students] Changes in Installment Plan and Other Fees

[Joan Lawrence]

Dear Students:

 

Beginning November 1, you will be able to make payments to your account for the Spring 2010 Semester. We want to make you aware of two important changes.

 

First, beginning with the Spring Semester, 2010, students who are taking distance learning courses exclusively will also pay an additional $165 if taking six hours or more and $132.50 if taking less than six hours.  In Fall 2005, the Texas A&M University System approved a distance education fee of $120 per course.  

 

Although students passed referenda granting the university the authority to charge $100 per semester for the Student Center Fee and the $65 for the Recreation Center Fee, university officials felt it was important to keep charges to a minimum. The Texas Education Code allows universities to waive certain fees if students have little or no opportunity to benefit from the services funded with these fees-until waiver of the fees begins to impact the debt service on facilities.  

 

So that we could improve access to higher education, we have added many online courses and the impact has been significant. For example, this fall, the university waived in excess of $300,000 that would have gone to pay for the debt service for the student center and recreation center. We have reached a point that we must begin charging these fees to cover our debt service. While other universities have increased tuition costs, Texas A&M University-Commerce has kept its tuition and fees at a minimum and is among the lowest in the state. The bottom line is that even with these additional charges, your total cost is lower than most universities in the state and significantly lower than for-profit distance education providers. 

 

Secondly, we realize that these are difficult economic times. We are proud to announce a change in our installment payment plan. In the past, students must have paid ½ of the total tuition and fees cost by the 20th class day. Effective Spring 2010, students can choose to pay $100 prior to the first class day and ¼ of the remaining account balance by the 20th class day. The remaining balance can then be made in three additional installments. The $17 processing fee for installment plans will remain.  

 

Payment due dates are:

 

·         January 15 or first day of attendance if registering after first class day--$100 + $17 processing fee

·         February 15 (1/4 of account balance) 

·         March 5 (1/4 of remaining balance) 

·         April 1 (1/4 of remaining balance) 

·         April 21 (Final Payment)

 

To take advantage of this payment plan, please go to MyLeo and access the LeoPay link. The plan will be available online by November 1.

 

We would like to remind all students that even if they do not qualify for need- based financial aid that is subsidized by the federal government, most students will qualify for unsubsidized loans. Undergraduate students may be eligible for loans ranging from $3,500 - $12,500 per academic year. Graduate students may be eligible for loans up to a maximum of $20,500 per academic year.

 

The total amount that can be borrowed each semester is based on several factors including, but not limited to, dependency status, grade level, and other aid received. All student loan disbursements will be applied to a student's account after all processing requirements have been met. These loans have a 6.8% fixed interest rate. Students may choose to either pay the interest monthly while enrolled or have the interest capitalized.  Students are not required to make any payments on their student loans until six months after they graduate. If you have any questions regarding the student loan application process, please contact the Office of Financial Aid and Scholarships at (903) 886-5096 or at FAO_WEB at tamu-commerce.edu.

 

A Free Application for Federal Student Aid (FAFSA) must be completed by all undergraduate and graduate students to receive unsubsidized student loans. Our staff is available to assist you with this process and to answer any questions you may have. Please attend one of our information sessions scheduled:

 

·         October 27 from 3:00-4:00 p.m. (SRSC 233B/Innovation)

·         November 10 from 2:00-3:00 p.m. (Welcome Center, Student Access and Success Center) 

·         November 19 from 3:00-4:00 p.m. (SRSC 213C)

 

We feel honored that you have chosen Texas A&M University-Commerce and we are dedicated to serving you.  Please do not hesitate to contact us is we can ever be of any assistance. 

 

 

Mary W. Hendrix, Ph.D.

Vice-President for Student Access & Success

Texas A&M University-Commerce

P.O. Box 3011

Commerce, TX  75429

903.468.8706

"You make a living by what you get, but you make a life by what you give." Winston Churchill

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://mailman.tamuc.edu/pipermail/students/attachments/20091027/bb4c2400/attachment.htm
-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Type: image/png
Size: 8907 bytes
Desc: image003.png
Url : http://mailman.tamuc.edu/pipermail/students/attachments/20091027/bb4c2400/attachment.png