Business Office
Location: Ochre Court
Office: (401) 341-2900
Fax: (401) 341-2984
Email: businessoffice@salve.edu
Payment Policy
Deposits
Billing Schedule
Suggested Financing Methodology
Payment Options
Late Payment Fees
Delinquent Student Accounts
Deposits
Commitment Deposits
Upon commitment to the university, each student is required to send in a deposit. This deposit varies based upon the type of student:
- Resident Student $500
- Commuter Student $300
The first $300 (non-refundable after May 1) of the commitment deposit is split to cover the following:
- $100 the administrative cost of acceptance and matriculation into the university.
- $200 is to cover the cost of the first year experience program inclusive of summer orientation.
The additional $200 paid by a prospective resident student represents a housing reservation deposit. This reservation deposit is held in a separate account and credited back to the student account during the spring semester of the student's sophomore year.
Student Enrollment Reservation Deposit
Each spring, the university requires all returning full time undergraduate students to pay a $300 reservation deposit to secure a place in the upcoming fall semester class. A student enrollment reservation agreement is mailed in March of each year to all students who are presently enrolled on a full time basis. This agreement must be signed by both the student and the parent and returned to the university with a $300 payment by April 1. This payment is considered an advance payment on the upcoming fall semester bill and as such is credited on the initial fall semester bill. The signed agreement is an indication of financial responsibility. Please note that if the student is not returning to the university, the request for the return of the $300 must be made in writing by May 1. All deposits are considered to be earned and non refundable after the May 1 date.
Download the Student Enrollment Reservation Agreement (PDF 1.92mb)
Billing Schedule
The fall semester tuition bill is mailed in late June and is due August 1 to avoid late payment fees. The spring semester tuition bill is mailed in late November and is due December 15 to avoid late payment fees.
Class attendance is permitted only for students who have paid the tuition bill in full by the start of class. A student's tuition account is considered paid in full if the total tuition, room/board (if applicable) and fees are covered by a combination of the following payment options:
- Financial Aid
- Traditional Payment (cash, check, or money order)
- Monthly Payment Option (Tuition Management Systems)
- Parents Loan Options
- Alternation Loan Options
- Credit Card Payments (Tuition Management Systems)
Also see information on Family Discounts and Payment Options for Graduate Students.
The business office will send out a billing statement each month when there are charges due to the university. Please be aware that other charges such as parking fines, lost student ID's, athletic uniform replacements, library charges and housing judicial fines can be included on the monthly statement. All charges after the initial semester statement are due immediately upon receipt.
To help you calculate the amount due, please click on the following sample worksheet link. You can print out this worksheet (PDF 312kb) and use it as a guide to estimate the total due for each semester.
Suggested Financing Methodology
The university suggests the following financing methodology when determining how to pay the amount due for tuition and fees:
- Financial Aid: Exhaust all financial aid eligibility. Apply early to maximize the total amount of financial aid.
- Traditional Payments: Pay the amount due after financial aid using cash, check, money order, or wire transfer by the payment due dates of August 1 and December 15.
- Monthly Payment Options: Spread the amount due to the university over a number of months interest free using Tuition Management Systems.
- Parent Loan Options: Seek out parent loan options via financial aid such as the Parent PLUS Loan or Family Educational Loan.
- Alternative Loan Options: Seek out alternative loan options via the financial aid office.
- Credit Card Option: Pay the balance due by the payment due dates using a credit card. Tuition Management Systems will process all transactions for full-time undergraduate students. Please note these transactions come will be assessed an additional convenience fee of 2% to 3.5% depending on the transaction size.
Also see information on Family Discounts and Payment Options for Graduate Students.
Payment Options
Financial Aid
The university encourages all students to apply for financial aid to exhaust all possibility of financial assistance from the federal government, state government, private outside scholarships and university-based aid. Financial aid must be applied for prior to March 1 in order to qualify for maximum consideration. To apply for financial aid, please click here.
The following types of financial aid are available to all students given certain conditions:
Grants & Scholarships
This is a type of aid that does not have to be repaid. These amounts serve to reduce tuition and fee charges. Certain conditions must be met to qualify for grants and scholarships such as financial need and academic performance. The following are types of grants or scholarships:
- Academic Scholarship
- Pell Grants
- SEOG Grants
- Work Study Grants (must be earned, not deducted from tuition charges)
- SRU Need Based Grants
- State Grants
- Regina Scholarships
- Endowment Scholarships
- Privately Restricted Scholarships
- Outside Agency Scholarships
Loans
This is a type of aid that must be paid back after graduation. There are various types of loans available students at reasonable interest rates. The following are some of the kinds of loans available through the financial aid office.
- Federal Subsidized Stafford Loan
- Federal Unsubsidized Stafford Loan
- Perkins Loan
- Nursing Student Loan
Traditional Method of Payment
Check or Money Order
By Mail:
Business Office
Salve Regina University
100 Ochre Point Avenue, 2nd Floor
Newport, RI 02840-4149
In Person:
Business Office
Salve Regina University
100 Ochre Point Avenue, Room 203
Newport, RI 02840-4149
Office Hours: Monday - Friday 8:00 am to 5:00 pm
Please note that personal checks returned for insufficient funds are subject to fees: $15 for checks up to $50; $20 for checks over $50 and up to $200; and $25 for checks over $200. If the check is not honored within 10 days, the registration will be cancelled. Once a check is returned for insufficient funds, the university will no longer accept personal checks on the student's behalf. Payment by check will only be allowed via bank certified check.
Cash
Cash payments must be made at the business office Monday - Friday between 8:00 am and 5:00 pm For security reasons, we urge students not to carry large sums of cash.
Electronic Funds Transfer (Your Own Bank)
The wire transfer of funds electronically from a U.S. or international bank to Salve Regina University's bank involve bank fees which are deducted from the funds wired to Salve Regina University. The net amount applied to the student's account will be the amount of the wire transfer minus the bank fees. Please remember to reference the student's name as beneficiary.
Wire Transfers Information:
Bank of America
Westminster St
Providence, RI 02903
ABA # 026009593
Account 093-5511126
Credit to Salve Regina University Tuition Payment.
Electronic Funds Transfer/ACH Payment (Tuition Management Systems)
You may also do a direct ACH (automated clearing house) debit using Tuition Management Systems. This transaction will be processed on a next day basis using your savings or checking account. To process an ACH payment, visit the Tuition Management Systems' website (select pay in full option) or call (800) 356-8329 and speak with an Education Payment Counselor.
Monthly Tuition Payment Option
Salve Regina University understands that education expenses are easier to pay when spread over predictable, interest-free monthly payments. Our Interest-Free Monthly Payment Option Plan, offered in partnership with Tuition Management Systems, is an alternative to large annual or term payments and helps limit borrowing. Tuition Management Systems offer students the following monthly payment options:
12 Month, Annual
10 Month, Annual
8 Month, Annual
5 Month, Semester
5 Month, Semester
4 Month, Semester
May 1
July 1
August 1
July 1
December 1
January 1
$65
$65
$65
$50
$50
$50
The payment of the above mentioned fee allows for convenient, interest-free monthly payments, 24-hour, full interactive access to account information through Tuition Management Systems' website, toll-free automated account information through InfoLine, and personal account service Monday through Saturday.
For more information or to enroll in the Interest-Free Monthly Payment Option Plan visit Tuition Management Systems' website, call (800) 356-8329 and speak with an Education Payment Counselor, or contact the Salve Regina University business office for additional guidance. The above resources listed can help you to determine an annual budget based upon tuition charges and anticipated financial aid. Parent Loan Options
Parent Loans
The Federal Parent Plus Loan and the RI Family Education Loan are two, low interest loans available to parents. Parents may borrow the costs remaining after financial aid is calculated. Interest rates for these loans are to be announced on or near July 1st. Applications are available on the financial aid section of the SRU website. Parents/students may combine the Payment Plan with a PLUS loan to minimize debt.
Click here for more information.
Alternative Loan Options
Private loans are available from many sources for parents and/or students. Student borrowers usually need a credit-worthy cosigner. Terms and interest rates vary greatly, and families can usually find one that best suits their needs. Applications are available on the Financial Aid section of the SRU website.
Click here for more information.
Credit Card Option (Full Time Undergraduate Students)
Full time undergraduate student can make a payment on the tuition account using VISA, MasterCard, American Express, or Discover Card, using Tuition Management Services (TMS). The university has partnered with TMS to process your credit card payment. The university no longer directly accepts credits cards due to the prohibitive processing costs involved and has chosen to utilize such funds for academic endeavors.
To process a credit card payment visit the Tuition Management Systems' website or call (800) 356-8329 and speak with an Education Payment Counselor. Please be advised that each transaction carries a convenience fee ranging from 2% -3.5% based upon the dollar amount of the transaction.
Family Discount
A family tuition discount of ten percent is granted to one student when two or more students from the same family are attending Salve Regina University in the same program at the same time (Both students must be enrolled in a full-time undergraduate program simultaneously). The ten percent deduction is applied directly to the student's tuition account each semester for as long as multiple enrollment continues.
Payment Options for Graduate Students
The university offers a number of different payment options to graduate students in an effort to make it easy to pre-register for classes in a timely basis while providing a flexible approach to payment. Listed below are the different payment options:
- The Full Payment Option is available by check or Visa/MasterCard. The total payment for tuition, registration fee, and any lab fees will be due at registration.
- The option to Bill Full Tuition is only available with Visa/MasterCard. A Promissory Note (Download PDF 147kb) and a Credit Card Authorization Form (Download PDF 35kb) are required for this option. The information included in the credit card authorization will be used to pay said charges. The credit card will be charged two weeks prior to the start of classes for the academic period for which this registration is submitted. See schedule of classes for actual dates. The amount due with the registration form ($40) is payment of the registration fee and is not refundable.
- The Deferred Payment Plan is only available with Visa/MasterCard. A Promissory Note (Download PDF 147kb] and a Credit Card Authorization Form (Download PDF 35kb] are required for this option. Choose two or three installments. The information included in the credit card authorization below will be used to pay said charges. The first installment date each semester occurs on/about the first day of the month classes begin. The second and/or third installment will vary based upon the semester. See the schedule of classes for the actual date. The amount due with the registration form (2 pay - $70, 3 pay - $75) is payment of the registration fee and a deferred payment fee, and is not refundable.
- The Tuition Reimbursement Plan is available to students whose employer (or another third party) has authorized payment of all or part of the student's tuition. A Promissory Note (Download PDF 147kb) is required for this option. Students who choose to participate in this plan must complete the document entitled Third Party Tuition Reimbursement Plan (Download PDF 72kb) (include tuition assistance form or employer reimbursement letter of authorization) available in the schedule of classes publication. The amount due with the registration form ($40) is payment of the registration fee and is not refundable.
- Students who expect to receive financial aid for tuition and fees must have all forms completed and submitted at least one month prior to the start of class or face possible late payment charges. An incomplete financial aid award can preclude students from enrolling and attending classes. A Promissory Note (Download PDF 147kb) is required for this option. The amount due with the registration form ($40) is payment of the registration fee and is not refundable.
All underscored documents are listed in the document library and may come in handy at time of registration. The files are in PDF format and can be printed out for your convenience.
Late Payment Fees
If the fall semester payment, due on August 1 is received late, the following charges will be in effect:
- After August 1: $100
- After August 15: $150 Additional
- Fall Semester: $250 Total
If the spring semester payment, due on or before December 16 is received late, the following charges will be in effect:
- After December 15: $100
- After January 5: $150 Additional
- Spring Semester: $250 Total
The business office will consider canceling late fees if the university itself caused a delay in delivering money to the appropriate place. If a student believes he or she is eligible for such a cancellation, the business office should be contacted. A late application for financial aid by a student does not excuse late fees charged by the university.
Students whose bills are sent to a foreign country are responsible for late fees assessed when the billing address causes a late payment.
Delinquent Student Accounts
Students failing to meet their financial obligations, in accordance with established university regulations will have the status of their accounts reported to the Vice President for Academic Affairs for appropriate action. This action may include cancellation of eligibility for enrollment in the current or future semesters. The university also reserves the right to withhold services such as grades, transcripts or participation in graduation exercises.
Further, if the account remains delinquent (no payments) for a six-month period of time, the university will submit the account to a collection agency for further action. The student will be responsible for the collection costs associated with servicing the account. Collection costs will significantly increase the students financial obligation. See Student Financial Responsibility Section.