2014 Summary of Changes
There are a number of changes taking place in the Bursar’s Office this Fall semester. Here is a summary of those changes along with other important information. More detailed information is available on the Bursar’s website at www.xavier.edu/bursar or by calling the Bursar’s Office M-F from 8:30am-5:00pm at 513-745-3435.
Billing Dates and Due Dates
- eBills are no longer published on the 1st of each month. Instead, eBills are published on the 15th of each month (or the last business day prior to the 15th if it lands on a weekend or holiday). This means that the first eBill for the Fall 2014 semester was published on Tuesday, July 15th.
- The Due Date changed from the 20th of the month to the 1st of each month.
Two Ways to Pay
There are two methods by which you can pay your bursar account balance. You can Pay In Full or you can enroll in the X-Flex Payment Plan. The X-Flex Plan spreads your balance out over 4 monthly payments.
Payment in Full:
- When a monthly eBill is published (around the 15th of each month) review that bill and pay the Total Due on or before the 1st of the next month. For example, when the July 15th eBill was published, the Due Date for the payment in full is August 1st.
- Keep in mind that throughout the semester, miscellaneous charges can occur on a student’s bursar account. It might be a library fine, a parking ticket, etc. Therefore, it’s important to review your eBill each month so you can pay the balance in full each month, if there is a balance due.
X-Flex Payment Plan:
- The X-Flex Payment Plan changed from a 5 payment plan for the Fall and Spring semesters to a 4 payment plan. Payments are due August 1st, September 1st, October 1st, and November 1st for the Fall semester and January 1st, February 1st, March 1st, and April 1st for the Spring semester.
- The X-Flex Payment Plan changed from a 4 payment plan for the Summer semester to a 3 payment plan. Payments are due May 1st, June 1st, and July 1st.
- There is a $50.00 per semester enrollment fee for those students who enroll in the X-Flex Payment Plan because they want to pay their bursar balance over 4 monthly installments or less.
- This means that if a student enrolls in the X-Flex Payment Plan and makes their payments on the 1st of each month, their only cost to be part of the X-Flex Plan is the $50.00 enrollment fee.
Interest and Late Fees
- We no longer assess interest on the last business day of the month at a rate of 1% based on the remaining balance.
As we did in the past, we have a grace period. The Due Date is the 1st of the month and a late fee will be assessed on the 14th of each month if the payment hasn’t been made. The late fee is assessed at the rate of 1% and is based on the amount that is due and unpaid. For example:
- If I have a balance due on my bursar account of $9,200.00
- I am enrolled in the X-Flex Payment Plan
- My monthly installment amount is $2,300.00
- I don’t pay on or before the Due Date, then
- I will be assessed a late fee on the 14th of the month in the amount of $23.00. This is 1% of $2,300.00 which is the amount due and unpaid.
- If I am not on the X-Flex Plan because it’s my intention to pay my balance in full each month, (using the same information from a. and d. above) but I don’t make that payment, then I will be assessed a late fee on the 14th of the month in the amount of $92.00. This is 1% of the amount that is due and unpaid which is $9,200.00.
- Xavier University has partnered with Higher One to manage the refund of all credit balances.
- Watch for a bright GREEN ENVELOPE in the mail. A bright green envelope will be mailed to every registered student at their home address in the latter part of July. Every student is encouraged to follow the instructions enclosed in the envelope and select a refund preference. For students who have previously been enrolled in Xavier’s My eRefund (where your refund is electronically deposited to your bank account), you will have to follow the instructions as well and reenter your banking information during this refund enrollment process with Higher One.
Students will have 3 options to choose from in how they want to receive their credit balance. They can choose:
- OneAccount: This is a checking account through Higher One that is FDIC insured. This account is linked to the My One card which is a MasterCard branded debit card (this is not a credit card) which you will receive in the previously mentioned bright green envelope. The My One card can be used to withdraw cash from the Higher One ATM that is located on the ground floor of Fenwick Place.
- Electronic Funds Transfer (EFT): Use your existing bank account or any new bank account you establish with a bank other than Higher One. An EFT is an electronic transfer of money from one account to another. In this instance, Higher One would transfer the amount of your credit balance to the checking or savings account of your choice. If you currently receive an EFT of your credit balance through Xavier’s My eRefund process or not, you will have to register with Higher One, select EFT as your method of refund preference, and enter your banking information.
- Paper Check: A paper check will be mailed to the student in the amount of the credit balance. If a student does not select a refund preference through Higher One, a paper check will be sent to the student’s address on file.
ATMs: Xavier has several bank ATMs on campus. US Bank, Fifth Third Bank, and Higher One. As always, be sure to educate yourself on any applicable fees associated with using an ATM.
Bank Branch: US Bank has a branch located on campus in the Gallagher Student Center.
Class Cancellation Date
Class cancellation will take place on Monday, September 8th for students who registered for classes on or after July 15th and haven't paid their balance in full or are past due on their payment plan. To avoid having your classes cancelled, be sure to pay your balance in full on or before the Due Date of September 1st or enroll in the X-Flex Payment Plan and make on-time payments as they are outlined in the payment schedule. You can always accelerate your payment plan by paying it off faster with no penalty. More information about class cancellation can be viewed at www.xavier.edu/bursar/holds-cancellations.cfm.