Frequently Asked Questions About Quarterly Billing
You probably have many questions about the transition to quarterly billing. Below is a list of the most common questions, and the corresponding answers, that Drexel Central has received.
Additionally, you can review important information about this change on the Tips for Quarterly Billing page.
With quarterly billing, you will be billed on a quarter-by-quarter basis. Under the old annual billing method, the entire tuition and fees for the academic year was due up front in September. With quarterly billing, you will receive a new eBill for each quarter you enroll for that quarter's charges only.
This change was made based on feedback from students and parents, and from the desire of the university to make the administrative process easier and more streamlined for students.
Depending on your program and grade level, your quarterly charges may be different with this change. However, it is important to note that your overall costs will not significantly increase beyond the normal small increase to tuition and fees as approved each year by the Board of Trustees.
Some students may have a transition period in which their quarterly tuition charges are adjusted to ensure that by the time they complete their program, they have not paid more or less than other students.
There will not be any impact on 2013-2014 billing. The change becomes effective for the 2014-2015 academic year.
The goal of changing to quarterly billing is to simplify the process for students and their families, while ensuring that there is no significant increase to overall costs. Since under the annual billing method, there was a difference in tuition costs between the 4 year and 5 year programs, students have so far paid different amounts of tuition and fees to the university.
Transition periods are necessary to ensure that based upon what you have already paid and how much time you have left to complete your program, you do not pay more upon the completion of your program. By making adjustments to tuition amounts for certain quarters, transition periods ensure billing equality for all students.
Tuition and general university fees will be assessed on quarters you are registered only for classes. For quarters you are registered for Co-op, you will only be charged general university fees.
Estimated tuition and fee rates for each quarter of your program are available on the Drexel Central website at Transition to Quarterly Billing. The information currently listed is based on the 2014-2015 tuition and fee rates.
While on Co-op, you are still eligible to use campus facilities, such as the recreation center, library, health center and counseling services, and participate in student government and activities. General university fees cover these costs, so the fees you accrue during Co-op quarters will ensure you are able to use these resources at your discretion.
The specific due date for payments each quarter will be available on the Drexel Central website in the summer. Typically, you have 20 days from the date of your eBill to pay your balance.
Yes, there will be payment plans available for all undergraduate full-time students with this change. More details of the plans will be available in the summer of 2014.
Since you will no longer be charged for tuition on quarters of Co-op, certain financial aid will only be applied to quarters you are registered for classes. These include scholarships and grants from Drexel and the PHEAA Grant. Federal financial aid and private education loans will still be applied evenly across your quarters of enrollment for the year, regardless of whether you are registered for classes or co-op.
For students who have a transition period, institutional aid may be adjusted in proportion to any tuition adjustments made to your account.
Financial aid refunds will continue to be processed on a quarterly basis based upon having more financial aid than charges for a quarter.
The most significant change to refunds will be for students who are registered for Co-op during Fall and Winter quarters. These students will have a significantly reduced quarterly bill for their first two quarters of the year and may receive large financial aid refunds as a result. These funds should be saved as necessary for the Spring and Summer quarters in which their bills will increase as a result of tuition and university fees being charged to their account.
You will be eligible to receive Federal financial aid - Pell and SEOG Grants, Perkins, Subsidized, Unsubsidized and Parent PLUS Direct Loans - and private education loans during these quarters of Co-op. If any of these funds result in an overage on your account, you will be eligible to receive those funds as a refund.