Understanding Your Statement

What to Expect on Your Statement

  • Your statement is for one semester and it includes one-half of your total aid for the year. This will not match the amount on your award letter, since the amount on the award letter includes aid you will receive for the full academic year (Fall and Spring).
  • The amount of your financial aid may change from year to year as a result of the information submitted on your FAFSA.
  • Please allow up to 10 business days for your payment to post on your account if you have made a one-time payment through the TMS Gateway.
  • Incoming students should expect different balances on their Spring and Fall bills. The Fall bill will likely be lower since students already made enrollment and housing deposits. Also, varying course material fees may affect the exact amount listed on a semester’s statement.

Billing Checklist

Is there something missing from your statement? Please review this checklist to ensure you have completed all required steps to secure all expected credits and charges on your statement.

  • Register for your classes. (Tuition charges will not appear until you have registered.)
  • For King’s Housing, submit your housing application fees and complete the housing application and contract.
    • Housing charges will not appear on your statement until you have applied for and been placed in housing.
    • If you are planning on living in student housing for the semester and there are no housing charges, please contact Housing immediately at 212-659-7292 or housing@tkc.edu.
  • If you are applying for Federal Aid, complete your FAFSA at fafsa.ed.gov.
    • Federal Aid (e.g. PELL Grant, Stafford Loan) appears on your statement only after all of the Federal Aid application steps are completed. If one or more of these steps are incomplete the aid will not appear. If you were selected for verification, your aid will not appear until all of the documents have been submitted and the steps for verification have been completed.
  • If you are using your Stafford Loans go to studentloans.gov and
    • Complete the Entrance Counseling
    • Sign your Master Promissory Note (MPN)
  • Accept your Federal Aid in your CAMS Student Portal at students.tkc.edu.
  • If you are using the Direct Parent PLUS Loan, complete your application and sign the MPN at studentloans.gov.
  • Complete your private loan application if you are using one to cover your remaining balance.
    • To compare lenders and terms please visit elmselect.com and type in “The King’s College.”
  • If any of the following apply to you, please provide the appropriate documentation to the Student Financial Services Team at financialservices@tkc.edu.
    • VA Benefits
    • 529 Plans
    • Outside Scholarships
    • New York State TAP and/or ETA
  • If you are using a Payment Plan to pay your balance throughout the school year, enroll with Tuition Management Systems at tkc.afford.com (fees apply).

If you have a question that is not addressed by the billing checklist, view all policies and procedures here.

Definitions of Terms

These are descriptions of some of the terms and types of notations you might see on your statement. To anticipate how much these charges should be, view information on tuition and cost of attendance.

Term – This refers to the Academic term that is being shown on your statement. ‘FA’ refers to fall, ‘SP’ to spring and ‘SU’ to summer. For Example ‘FA-19’ refers to the Fall 2019 Academic semester.

Charges

Traditional Undergrad Tuition – Tuition charges are generated automatically when a student registers for classes. Students registered for 12-18 credits are billed the full-time tuition rate. Students registered for fewer than 12 credits per semester are billed at the per credit rate. Please note that changes to class schedules during the registration period may cause charges to temporarily appear more than once. For questions regarding class registration, contact the Office of the Registrar at 212-659-3612 or registrar@tkc.edu.

Student Activity Fee – The student activity fee is generated when a student registers for classes. All matriculated fall and spring students will be billed a student activity fee each semester. All summer “main campus” students are also charged a student activity fee.

Course Material Fee – Special instructional fees may apply to certain courses. This may be for special materials provided or entrance fees for specific trips included as part of the class. Course material fees may vary from semester to semester.

Room Charges – Room charges are applied to the statement by Student Life through room assignments if the student will be living in student housing for that semester. Room charges appear each semester the student is in housing.

Late Payment Fee – A late payment fee will be calculated and applied to the statement on any outstanding balance each month. The late payment fee is $35 plus 1.5% of the outstanding balance.

Other Fees and Fines – Additional fines and fees may be applied to your statement, such as an ID Replacement Fee, Housing Fine, or Late Registration Fee.

Refund of Student Balance – If there is a credit balance on a student’s account resulting from excess payments, federal aid funds, tuition cancellations, etc., the student may be issued a refund. The date and amount of the refund will appear on the statement under the description “Refund of Student Balance.”

Payments and Other Credits

Tuition & Housing Payment – This description appears when you make a payment by check or cash directly to The King’s College through Student Billing.

TMS/Nelnet Payment Budget – This description appears when you have signed up for a payment plan through Tuition Management Systems/Nelnet (TMS/Nelnet) . The amount listed is the amount left to be paid through the payment plan for the current semester.

Monthly Tuition Payments through TMS/Nelnet – Payments made through the payment plan and received by the College will appear on your statement with this description. Payments are forwarded to the College on the second and fourth Wednesdays of each month. Your payment is posted when the funds are received.

Payment through TMS/Nelnet Gateway – This description appears for one-time payments made through Tuition Management Systems/Nelnet (TMS/Nelnet).

Scholarship Tuition Payments – Third party scholarships are listed under this description and appear on your statement when the payment is received by the College.

Alternative Loans – Alternative Loans will generally appear with descriptions specific to each type of loan, for example: Wells Fargo Collegiate Loan or Sallie Mae Smart Option Student Loan.

Federal Aid – Title IV Loans and Grants will appear with the name of the loan or grant type, for example: Subsidized Stafford Loan, PELL Grant, or Federal Parent Plus Loan.

Pending indicates federal financial aid that has been secured. No further action is required. Funds will be received after the start of classes and will then appear with the specific date received.

Institutional Grants and Scholarships – There are a number of different scholarships and grants awarded by the College. These will appear individually on your account by award name. For example: Presidential Scholarship, Church Matching Scholarship, or The King’s Grant.

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