Payment Policy

Cogswell College offers a payment plan option
for each semester.

Payment plans are administered by the Business Office and Financial Aid Departments. Payments will be divided into equal installments with each payment due on the 1st of each month. Payments not received by the due date are considered late. Please see below for specific financial penalties assessed.


Guidelines
 

  • Payment plans are established for each term. The total account balance (or out of pocket charges) are divided into 4 equal/monthly payments due on the first day of each month.
  • Payment plans are generally created by the Financial Aid advisor during the students financial review process (packaging) but can also be initiated at any time by either the Business Office or Financial Aid Departments.
  • A $50 deferral fee will be assessed and added to the amount due on the first installment payment.
  • All Payment Plans are based on our best estimate of future balances.  Any change in the total plan amount (student account balance) caused by adding/dropping classes (or any other reason) will be adjusted on the last payment or will become due and payable at the end of the term. Refunds will be issued if an overpayment (credit balance) exists.
  • If the student receives financial aid, any remaining unmet costs (tuition + fees - expected financial aid) remaining after aid has been applied to your account will become the basis for the total amount owed. No financial aid will be applied until all aid has been finalized and all requirements have been met.
  • Payment plans are established before the start of the term for current semester charges only. Prior debt must be paid before establishing a new plan.
  • Failure to make payment in full may result in a financial hold being placed on your student account, which will prevent you from registering for the next semester and accessing other student services until the account is current.
  • A $20 late penalty will be assessed for each payment that is past due.
  • At 90 days past due, your account will be considered delinquent and may be forwarded to our collection agency.
  • Payments can be made via check, credit card or cash. Credit card payments are processed by Paypal and can be made by the student via web portal in the “my ledger” tab or by establishing an individual Paypal account and sending the payments to paypal@cogswell.edu referencing the students first + last nam