July 15, 2016 – Fall 2016 payment deadline
December 15, 2016 – Spring 2017 payment deadline
Ways to Pay Your Statement
Families may utilize any combination of the following options to cover the balance due. Please keep in mind that several of these options require students to consider the balance due for the year rather than just the semester:
Option 1 – Pay the balance in full using current family resources. One-time payments may be made via EFT or credit card at tkc.afford.com. Scroll down to ‘Make a Payment’ and select the ‘Make a One-Time Payment’ button on the right side of the screen. If you choose to send a check or money order, please include the student’s full name and student ID number on the front (found at the top of your statement on the right-hand side). Payments must be received by July 15th to avoid late fees. Mail payments to:
The King’s College
Attn: Student Billing
New York, NY 10004
You may also make a payment in person in the Bursar’s Office, located on the 6th floor of 56 Broadway. Bursar’s Office hours are Monday – Friday, 9am to 5pm. If you have any questions regarding your statement or payment in addition to dropping off your payment, please email firstname.lastname@example.org to set up an appointment.
Option 2 – Set up a monthly payment plan through Tuition Management Systems (TMS) at tkc.afford.com or at 800.356.8329 to make interest-free installment payments on the balance due. Many families use a payment plan to break up payments over 9 or 10 months. You can set the amount of the payment plan at whatever you like, just be sure to consider the balance for the entire year, not just the semester. A small enrollment fee is required to participate in the program. Arrangements must be made to enroll in a TMS plan by the payment due date for the respective semester.
Option 3 – Parents may use the Direct Parent PLUS Loan to cover the balance due, as well as indirect expenses, if you choose. Pending credit approval, parents can borrow up to the total cost of attendance. If a parent is denied for this loan, the student may borrow an additional $4,000 in their Unsubsidized Loan. The maximum amount a parent can borrow is based on annual costs and will be split across semesters. You may complete the application at studentloans.gov.
Option 4 – Take out a private loan to cover the balance due. Students taking out private loans will need a cosigner with good credit. Use our loan comparison tool, Elm Select, to compare popular lenders and loan options. Private loans will also be split between the Fall and Spring semesters. You can access Elm Select at http://www.elmselect.com/link/query?schoolid=418.
Option 5 – Pay the balance due using your 529 Plan. A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. Many students across the country use the college savings plan as a way to pay for college and it works out to be a benefit to them. The specific requirements for establishing, enrolling in or withdrawing from a Plan will vary by state; please check with your state or visit www.savingforcollege.com for links to information for all the state Plans. If you are a New York State resident and would like information regarding New York State’s 529 College Savings Program, please visit www.nysaves.org.
Plans and payout rates vary by state. Once The King’s College receives notification from your plan administrator, we work with families to process these benefits and apply them to the student accounts in a timely manner, as well as ensure your 529 plan is billed appropriately. Plan participants are asked to contact their respective Plan to initiate the payment process. Because enrollment verification is required in most cases, Plans which require this information will be provided a copy of the student’s statement.
For questions and answers from the Internal Revenue Service on 529 Plans, please visit the IRS website at http://www.irs.gov/uac/529-Plans:-Questions-and-Answers.
Additional Notes Regarding Payment
Personal checks are accepted as payment of tuition and fees. A charge of $50 is assessed for each check returned unpaid by the bank. The College reserves the right to exclude the use of personal checks and may require payment by certified check or money order if an account is more than 90 days in arrears.
Students in arrears to the College may not obtain academic transcripts nor be permitted to register for additional semesters until all prior balances are paid in full. A late payment fee of $35.00 plus 1.5 percent of the outstanding balance will be charged monthly until past due installments are paid in full. Payments received for registrations for future semesters will be applied to prior outstanding balances first.
Delinquency of outstanding balances, including those from payment plans, or financial aid reductions, are subject to collection by the College or its designated agents. There is no statute of limitations for outstanding financial obligations to the College. Student accounts that are sent to collection agency are subject to additional collection costs.
Any outstanding balances, including tuition, fees and interest remaining at the end of a semester will result in final grades being withheld. All balances must be cleared in order to register for the following semester or to receive a transcript. Graduating students with outstanding balances will not be allowed to participate in commencement exercises. In addition, diplomas will be withheld from graduating students until the balances are cleared.