711 Student Financial Services

711.1 Documentation for Accounts Receivable:

Accounts receivable represent debts owed to the university for goods or services that the university has sold or provided to its customers. These debts are short term and are normally expected to be paid to the university with no interest charge. Adequate documentation, which includes individual account balances and a control balance for recording payments, must be maintained.

711.2 Internal Control

To promote the accuracy of the department’s and the university’s cash receipting and accounts receivable records and to discourage fraudulent manipulation of the accounting records, the following internal control measures are in affect:

711.3 Billing and Collections

Students Financial Services must ensure that due diligence in collection efforts has been exercised. Due diligence is satisfied when:

711.4 Allowance for Doubtful Accounts

Because some accounts receivable may prove to be uncollectible, Student Financial Services is responsible for determining an appropriate amount as an allowance for those accounts considered to be uncollectible each September 30th.The department should establish an allowance for doubtful accounts (ADA account) to reflect the estimated uncollectible accounts. This allowance will be used to reduce the total amount of accounts receivable on university financial statements.

711.5 Payments

711.5.1 Responsibilities

Students are responsible for their financial obligations to the University. Troy University encourages full payment of all tuition and related fees by the last day of the regular registration period for the current semester or term.

However, when a semester student is unable to pay the entire amount a two payment-plan is available. Students who do not pay their charges in full by the first payment due date published are automatically enrolled in this plan must pay at least 1/2 of tuition and fees and all other charges by the last day of regular registration or at the time of late registration. The payment of tuition, fees, residence hall, and meal plans charges is part of the registration process. Payment or payment agreement is required before each semester’s registration is complete.

The remaining balance of the two payment plan is due around the ninth week of the semester. The specific dates will be identified in registration material and students will be billed for these payments.

For term based schedules, the full payment is due during the fourth week of the term. The specific dates will be identified in registration material and students will be billed for these payments.

711.5.2 Payment Methods

Payment may be made using cash, check money order, Visa, Discover or MasterCard. Other valid forms of payment include sponsoring agency contracts, tuition assistance from various private, federal, and state funds, the Alabama PACT, and faculty/staff tuition assistance.

All payments through the United States Postal Service or any parcel service should be addressed as follows:

    Student Financial Services
    155 Adams Administration Building
    Troy, Alabama 36082

  • Checks should be made payable to: Troy University.

  • Always write student ID number on checks.

  • Credit card payments may be made on line using Trojan Web Express.

  • Check Clearing Policy – when a check is presented to Troy University, the payor authorizes Troy University to either use the information from the check to make a one-time electronic fund transfer from their account or to process the payment as a check transaction.

711.6 Billing

A statement will be emailed to students approximately 15 days prior to the first payment due date for those students who pre-registered for classes before the tuition and fee rates were finalized by the university. Subsequent payment reminders will be sent to students by e-mail. Billing inquiries should be directed to the office of Student Financial Services.

711.6.1 Late Payment

When an outstanding balance exists on a students account after the final payment due date, a late payment fee of $50 will be assessed to the students account.

There are certain services that will be identified to students (e.g. health center charges) that require payment once the service has been rendered.

711.6.2 Returned Check

On a monthly basis, returned checks are reconciled to the amount shown on the university’s financial records, and to the bank where the check was deposited.

Students paying with a check lacking sufficient funds, may be administratively withdrawn from the University. These students remain responsible for any charges (including additional collection costs) assessed by the University.

711.6.3 Delinquent Accounts

In the event of an unpaid balance on a student’s account (including any check returned by a bank), following services will be withheld until the balance is paid:
  • Enrollment for subsequent terms

  • Transcripts

  • Diplomas
If a former student has an unpaid balance, a hold on transcripts and registration will remain in effect until the obligation is paid. Whenever collections are made for amounts previously written off, the write off should be reversed, and the payment receipted. Any holds or encumbrances against the individual will be released.

Upon the unfortunate death of a student during a term or semester the University reserves the right to cancel or reduce any outstanding obligations.

Upon referring an account to an outside collection agency, any cost incurred in collection, including attorney’s fees, may be assessed to the account. Delinquent accounts may be reported to credit bureaus.

711.6.4 Offset of Funds

If a student’s account has an outstanding balance and the University has in its possession any funds payable to the student, the University reserves the right to withhold the funds necessary to clear the student’s outstanding balance and to cover any collection costs incurred.

Funds payable to the student may include payments or credits applied to the student’s account, payroll checks, as well as funds payable from any other source. Once any outstanding balance has been paid, any remaining funds will be paid to the student.

711.7 Financial Aid Refunds

If tuition is paid with financial aid (loans, grants, scholarships), and all financial aid eligibility requirements are met, financial aid will be applied to the student’s bill after drop/add.

If a student is due a financial aid refund, the refund will be processed within 3 business days after financial aid is applied to the student account.

711.7.1 Charging Privileges at the Bookstore (for Financial Aid Recipients Only):

If a student has been awarded financial aid through the Office of Financial Aid and has approved excess funds after all tuition, fees, meals, and housing have been paid, the student may charge required books and approved supplies, not to exceed the amount of excess financial aid, up to $1200.  The book charging program is for students with approved excess financial aid, Chapter 31 VA, Alabama G.I. Dependents’ Scholarship Program, or Alabama Vocational Rehab.  The student’s VA Form 1905 or other TA Form must authorize book charges and list the amount authorized to be approved for book charging.  Please see academic calendar and/or book voucher schedule for book charging dates and deadlines.  It is the student’s responsibility to ensure the correct textbook is purchased and received in a timely manner.

711.7.2 Use of Federal Financial Aid to Pay Prior Year Charges

With the student’s or parent’s written permission, Federal financial aid awarded for the current academic year may be used to pay remaining prior award year charges, if these charges are less than $200, or if the payment of these charges does not, and will not, prevent the student from paying his or her current educational costs.

711.7.3 Student Bank Loans

Student bank loans are disbursed each semester or term. Most bank loans are disbursed electronically. Loan disbursement information is not given over the telephone; inquiry must be made in person at the office of Student Financial Services. Students may reference their promissory note for loan disbursements dates to determine when to expect loan proceeds. All loan applicants are required to participate in an entrance interview at www.studentloans.gov concerning their financial obligation as recipients of loan funds.

711.7.4 Funds Held

Troy University acts as an agent holding miscellaneous scholarship funds from donors to be applied to the accounts of students. Students must make Funds Held transaction requests at the office of Student Financial Services.

711.7.5 Tuition Assistance

Notification of any tuition assistance should be given to the Student Financial Services Office prior to registration. Tuition assistance includes State VA and State Rehabilitation benefits, PACT, Troy University Employee Tuition Assistance, and other third-party assistance. After notification, the total amount due for tuition and fees will reflect any tuition assistance.

711.7.6 Veterans Benefits

Students who are eligible to receive educational assistance must check with Veterans Affairs in the Financial Aid Office. No student will be certified to receive educational benefits from the VA until the student’s schedule is verified with the certifying official at his/her campus home location.

711.9 Changes in Regulations or Expenses

All financial regulations, fees, or charges are subject to change as conditions warrant.

711.10 Official Withdrawal from the University

Definition: Withdrawal from the University is defined as a resignation from all courses for all current semesters, sessions, or terms.

From early registration through late registration- Free Course Schedule Adjustment Period

  • Students who wish to withdraw from all classes prior to the last day of late registration must CANCEL their registration in writing through the designated withdrawal official (DWO). Written cancellation does not require the completion of the withdrawal form or an exit interview. Tuition and refundable fees will be returned.
From end of late registration (Free Course Schedule Adjustment Period) through the last day to withdraw

  • A student who wishes to withdraw from all courses for a current semester/session/term may withdraw with no academic penalty with a non-punitive grade of “W” until the last day to withdraw (posted in the Schedule of Classes and on appropriate web pages). Tuition and fees will be charged during this period.

  • The last day to withdraw from a semester/session/term will be assigned based on approximately 65% completion of the length of the course. The last day to withdraw for semesters will be Friday of the 10th week. The last day to withdraw for sessions/terms will be Friday of the 6th week. The 65% date for special formatted terms and sessions will be posted as appropriate for those particular courses.
Students may access the withdrawal form at www.troy.edu/records. An official withdrawal form must be completed and processed before the student’s withdrawal is considered final. Students may not withdraw after the withdrawal deadline. Any student who fails to withdraw by the deadline will be assigned a grade. Extenuating circumstances must be properly documented. Note: Withdrawal deadlines for Financial Aid may be calculated differently.

Approved: Cabinet, August 3, 2006
OPR: Provost

711.10.1 Procedure for Student Withdrawal from the University

  • Each Alabama location of Troy University will designate a withdrawal official (DWO) to conduct exit interviews with students considering withdrawal and to process Withdrawal Forms according to guidelines. All Global Campus students will process their withdrawal through Global Campus Student Services at University Park in Troy or International Site Coordinator for Global Campus.

  • Graduate students must submit a request for retroactive withdrawal due to extenuating circumstances directly to the Graduate Dean.

  • Withdrawal requests are coordinated according to the student’s home location in Datatel, not based on where the student attends classes.

  • Students who wish to withdraw from all their current semester and/or term classes, after the last day to late register, are required to complete a Troy University Withdrawal Form and an exit interview with their home location’s DWO. Students who withdraw from all classes prior to the start of the semester and/or term through the last day to late register must cancel their registration, in writing, through their home location’s designated department, without completion of withdrawal form and interview.

  • During the exit interview, the withdrawal official seeks to gather information on the student’s reason(s) for withdrawal, offers options for retaining the student, and advises the student on financial and/or academic penalties the student may incur as a result of withdrawing. The withdrawal official is responsible for making sure that all information requested on the withdrawal form is complete and legible.

  • International students are required to first meet with an International Programs staff member prior to submitting a withdrawal form. A signature from the International Programs staff member must be provided on the withdrawal form. Once the signature is obtained, the student may proceed with the regular withdrawal process.

  • Upon receipt of a student’s completed Withdrawal Form the withdrawal official will provide withdrawal notification to the appropriate person(s) responsible for the following actions:

    • Grade entry into Datatel, "W"
    • Return of financial aid calculation
    • Posting of changes to student's financial account
    • (Troy campus only) Residence hall check-out and/or meal plan cancellation, if applicable.
    • Immigration status change, if applicable

  • Students who withdraw due to extenuating circumstances may request withdrawal without academic and/or financial penalty by completing the Withdrawal Form in the DWO’s office at their home location. A letter of explanation and appropriate documentation of their circumstances must be submitted with the withdrawal form for consideration as an extreme extenuating circumstance. If the letter and/or documentation are missing, the request will not be considered. The home location withdrawal official provides guidelines for submission of documentation and completes Section IV of the withdrawal form prior to submitting the withdrawal request, with documentation, to the designated senior administrative member of the home location who has the authority to remove or reduce academic penalties, and will note his/her decision in Section IV regarding academic penalty and return the Withdrawal Form and documentation to the withdrawal official’s office. If academic forgiveness is granted, the DWO may recommend financial forgiveness by submitting all the relevant documentation and a cover letter outlining their rationale for the recommendation to the Senior Vice-Chancellor for Finance and Business Affairs for consideration. The documentation of extenuating circumstances is attached to the withdrawal form. The financial forgiveness decision made by the Senior Vice-Chancellor for Finance and Business Affairs is the final and binding decision.

  • In each case, if a student has received any financial assistance, including, but not limited to, Title IV funds, scholarships, military assistance, etc., a Return To Title IV (R2T4) calculation must be completed by the Financial Aid Office, a process that requires the last date of attendance in class by the student to determine what portion of the funds must be returned to the funding agency.

  • In lieu of a student’s completion of the Withdrawal Form and interview on location, a withdrawal may be accepted via faxed statement, signed and scanned document or email. The interview may be completed by phone or email. The original document is retained in the withdrawal official’s office. The faxed statement or scanned document must indicate that the student acknowledges that this action could result in academic and/or financial penalty.

  • The Withdrawal Official is responsible for ordering and maintaining a supply of withdrawal forms for his/her location. The withdrawal form will be available for order through RICOH on the Troy campus.

  • For students who are concurrently enrolled in semester and term courses, the DWO of the student’s home location will be responsible for, and authorized to, withdraw the student from all courses at all locations. The withdrawal official is responsible for posting the refund percentage, if applicable. NOTE: Global Campus has a different refund percentage than the Alabama campuses.

711.10.1.1 - Withdrawal Refunds
  • For Troy University - Alabama Campus Locations
    Official withdrawal will result in 100% refund of charges for tuition, laboratory fees, technology fees and student activity fees through the first week of classes (seven calendar days from the term’s class begin date.) No refund of these charges will occur after the first week of class. For weekend classes, no reduction of charges will occur after the second class meeting.

  • For Troy University - Global Campus
    • 100% refund for any withdrawal during Late Registration
    • 50% refund for withdrawal from the end of Late Registration through the second Friday of the term.
    • 0% refund for any withdrawal after the second Friday of the term.
    • This policy includes distance learning and weekend classes.
    • This policy does not apply to the State of Georgia and Pacific Region due to existing contractual agreements.
Special Notes On Refunds For Withdrawals:
  • Students who withdraw from the University may qualify for a refund if medical reasons can be documented.
  • Applications fees, registration fees, and housing deposits are non-refundable fees.
  • A student called for military service during the school term should consult with Student Financial Services regarding refunds of fees.
  • Room rent is non-refundable.
  • Meal plans may be canceled if a student withdrawals from the university. The refund will be prorated on a weekly basis on the unused portion of the meal plan. The meal plan must be paid for through the date the withdrawal is processed.

711.10.2 Federal Financial Aid Recipient Withdrawals and Refunds:

  • When a student is officially withdrawn from the university, a portion of the Federal Financial Aid grant or loan funds, except for Federal Work-Study earnings, must be returned to the applicable federal program(s).

  • The refund is based on the concept of ‘earned’ and ‘unearned’ federal financial aid and how it relates to the percentage of time the student was enrolled. The percentage of enrollment completed determines the percentage of earned aid. For example, if a student attends 25 days of a 100 day term the percentage of earned aid is 25%; and therefore, 75% of the unearned aid, up to the total of institutional charges, will be returned to the federal financial aid programs. Institutional charges consist of tuition, fees and campus housing.

  • In some circumstances, a student may need to repay a portion of the unearned aid. The student will be notified if they owe a federal repayment.

  • If a student withdraws after completing 60% of the term, then it is assumed that the student has earned 100% of their federal aid award and no funds will be returned to the federal programs.

  • For an example of the proposed Return of Title IV Funds Worksheet, please see the Financial Aid Office located in the Administration Building.

711.10.3 Return of Overpayment

Title IV financial aid recipients who withdraw from all classes, or who are administratively withdrawn from all classes may be required to return a portion of the financial aid they received. Calculations are completed to determine the percent of financial aid earned and unearned for the given term.

Title IV financial aid recipients who receive an overpayment resulting from changes in enrollment, cost of attendance, general eligibility, and additional financial aid award(s) will be required to return funds in the amount necessary to eliminate the overpayment.

The student will be notified if a return of Title IV funds is due. Failure to return Title IV funds will result in the loss of eligibility for financial aid.

711.10.4 Order of Return of Title IV Funds

Title IV funds required to be returned by the student will not be distributed to a Federal Direct Loan Program and no returns shall be distributed to the Federal Work Study Program. All other returns will be distributed to the student financial assistance programs in the order below:
  • Federal Direct Unsubsidized Stafford Loan

  • Federal Direct Stafford Loan

  • Federal Perkins Loan

  • Federal Direct PLUS Loan

  • Federal PELL Grant Program

  • Federal SEOG Program

  • Other Title IV Program

  • Other Federal and State Program

  • Institutional or Agency Programs
If a credit balance exists after all adjustments and distributions have been made, the refund will be sent using the student's selected refund option through BankMobile.

711.10.5 Withdrawal Summary

It is the student’s responsibility to withdraw officially from the university in accordance with university regulations.

A student is responsible for clearing any outstanding balance on his or her account before leaving the campus.

Students suspended from school for disciplinary reasons are not eligible for refunds.

In the event of death or involuntary call to active military duty, no charges will be assessed, refund of full tuition and fees will be granted.

711.11 Dropping a Class

“Drop” refers to the dropping of part but not the entire course schedule in a semester or term.

Within the first week of classes of a semester a student may drop courses from his/her schedule. Tuition associated with the dropped class is 100% refundable only in the first week of classes. If a class is dropped after the first week of classes there is no refund.

711.12 Bankruptcy

If Student Financial Services receives notification from a bankruptcy court that a student has filed for bankruptcy, the University follows all required state and federal regulations, including all claims allowed under the law.

711.13 Check Cashing

Check cashing privileges are extended to faculty and staff at the Troy Campus with proper identification. The check writer may cash a check not to exceed $100.00 and is limited to one check per week. In the case the check fails to clear the bank upon presentation, the University reserves the right to charge the amount to the check writer’s next paycheck.

711.14 Petty Cash

Employees may be reimbursed for qualified miscellaneous departmental expenditures not to exceed $100.00. Employees must present original receipts and the correct general ledger expenditure number for petty cash reimbursement.

711.15 E-Commerce System

Troy University’s E-Commerce system allows students to use the latest technology to complete business transactions with the University. Using the Trojan Web Express program, E-Commerce offers the following on-line features to students:

711.16 E-Mail Policy

All University official communications with the student will be provided through the Trojan E-mail address that is assigned to the student. All official information, (including but not limited to, student billing, faculty-student communications, registration changes, financial aid information and the like), sent to this e-mail address will constitute official notice. The University accepts no responsibility, for any forwarding of e-mail that the student may choose from their official Trojan E-mail account. The University is only responsible for ensuring the e-mail gets to the student’s e-mail account maintained by the University. All students are responsible for monitoring their Trojan E-mail account frequently. Students can access their e-mail by visiting www.troy.edu and selecting the Trojan E-Mail link.