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Tuition Deferment / Company Tuition Reimbursement Program
How does the Mercyhurst tuition deferment program work?
Mercyhurst College allows you to delay payment of your current term bill up until an agreed upon date following the release of your course grades. This gives most employees enough time to receive their tuition reimbursement from their employers, and then pay their current term bill with the reimbursed funds. Importantly, the employee, not the employer, is ultimately responsible for all financial obligations to the college.
How do I sign up for tuition deferment?
You must complete the Company Reimbursement Form , which allows you to participate in the tuition deferment program for the trimesters that you designate on the form. Before you can register each trimester you will be required to make a $125 pre-payment toward that trimester's bill.
Where can I get the required forms?
The Office of Student Financial Services will fax, mail or e-mail the forms to you upon your request. You can also pick up the forms at the Catherine McAuley Center, located at 34th and Wallace Streets in Erie (next to St. Peter and Paul Byzantine Catholic Church) or Old Main room 115 (Student Financial Services). The Company Reimbursement Form is also available online.
When is the deadline for signing up for this program?
The deadline for submitting the required form to the Office of Student Financial Services is typically two weeks before the start of the first trimester that you attend each academic year (usually the September trimester). The $125 pre-payment is due before you register each trimester.
What if I decide not to take a course in a given trimester?
The Company Reimbursement Form is valid for the trimesters that you designate on the form (usually an entire academic year). If you do not attend one of the trimesters, you will not need to file a new form when you return. You must, however, make the $125 pre-payment before you can register for the next trimester.
Is there a charge for participating in this plan?
This plan is provided as a convenience to students at no charge.
Is the $125 pre-payment considered a fee?
No, the $125 is considered a "down payment" or installment on your tuition charge. This pre-payment is reflected on your term bill.
What if there is a delay in receiving reimbursement from my employer?
You are responsible for securing your grades (which can be accessed on line through Mercyhurst Web Advisor) and for submitting them to your company in a timely manner, i.e. to meet your next payroll cycle. Mercyhurst must receive your payment by the deadline listed on the "Company Reimbursement" form, regardless of whether you have received your company's reimbursement by that date. You should contact the Student Financial Services office as soon as possible if you anticipate a delay in receiving your reimbursement.
What happens if, for whatever reason, I neglect to pay the college by the deadline?
You will be charged a $50 late fee and unless you make other payment arrangements, your account will be forwarded to a collection agency. You will also be withdrawn from any current course(s), and will be prevented from registering for future courses until your account is paid in full.
How can I avoid any potential financial difficulties?
One way to guard against the unexpected (such as the need to withdraw from a course) is to take out a low interest federal student loan before the start of the academic year. You can complete the free federal loan ("FAFSA") application online at www.fasa.ed.gov . You can then use this loan as a "line of credit". You can turn-back any unused balance, or the entire loan, at any time. In addition, any interest that you may pay is tax deductible. The Student Financial Services office can explain this process to you in greater detail.
For more information...
Contact the Office of Student Financial Services at (814) 824-2288.
