Student Handbooks

MBA Student Handbook - Financial Policies and Procedures

The following information applies to Early Career MBA, MBA for Career Change, BA/MBA, MBA/JD, and non-degree students enrolled in MBA courses during fall semester 2011, spring semester 2012, or summer semester 2012.


Tuition

Atkinson School tuition for MBA students enrolled in 9 to 18 credits per semester is $15,625 for fall semester 2011 and $15,625 for spring semester 2012.

Tuition for summer semester 2012 is charged on a per credit basis of $1,302 per credit.

Tuition Variations
  • All students enrolled in more than 18 credits of course work for fall or spring semester 2011-12 will be charged an additional tuition rate of $1,302 for each credit above the 18 credit flat rate limit. For example, a student enrolled in 21 credits of course work for fall semester 2011-12 will incur tuition charges of $15,625 plus $3,906 for a total of $19,531 for that semester.
  • Tuition for students enrolled in less than 9 credits for fall or spring semester 2011-12 will be charged on a per credit basis of $1,302 per credit for the 2011-12 academic year.
  • No tuition is charged for the course "GSM 750 - Internships for Management I" (3 credits) when taken during the summer semester by a student who is completing their first three credit internship experience.
  • MBA/JD students pay the Atkinson School tuition rate for their one year of full-time enrollment in the MBA program. MBA/JD students pay the tuition rate of the College of Law for the other three years of the four year program.
  • Atkinson School MBA alumni may take Atkinson School MBA elective courses for a charge of 50% of the course's tuition rate.


Fees

Student Body Fee: MBA students registered for 9 or more credits of course work pay a student body fee of $40 per semester. Students registered for less than 10 credits of course work, pay a Student Body Fee of $30 per semester. These fees are managed by ASA- Atkinson Student Association.

Graduation Fee: Graduating MBA students will be billed a $50 graduation fee on their final semester billing. If the student decides not to participate in the commencement/hooding ceremonies, the amount will be refunded after commencement


Scholarships

Scholarships are awarded to students enrolled full-time in the MBA programs on the basis of merit as measured by GMAT/GRE scores, previous academic performance and experience. Fifty percent of the scholarship award for the academic year is dispersed for fall semester and 50% is dispersed for spring semester. Scholarship awards are not available for summer semester.

Students should contact Associate Dean/Director of Admission, Judy O'Neill, with any questions they have about about scholarships or scholarship awards.


Cancellation of Scholarships

Scholarship recipients who have been placed on conduct probation or found to have committed plagiarism, cheating, or unauthorized possession of academic materials will lose all scholarship assistance awarded by the Atkinson School. The student may make a written appeal to the Associate Dean/Director of Admission, who will take the appeal to the Dean. The Dean's decision is final and binding. See the conduct section of this handbook for definitions of the terms "plagiarism," "cheating," "unauthorized possession of academic materials," and "conduct probation."


Renewal of Scholarships Awarded by the Atkinson School

Atkinson School scholarships and named scholarships awarded to MBA students (Early Career, Career Change, BA/MBA) for the first year of MBA study are reviewed for renewal after spring semester grades are received.

Scholarships are generally automatically renewable at the same dollar amount for the second year of full-time MBA study if the student meets all of the following eligibility requirements:

  • achieves a minimum Atkinson School cumulative grade point average of 3.3 (B+) by the end of the first year of study; and,
  • is in good standing within the academic policies and expectations of conduct of the Atkinson School and Willamette University, and
  • maintains full-time enrollment in the Atkinson School and completes a minimum of 9 Atkinson School credits per semester.

Students who do not meet all of the requirements for renewal of their scholarship may appeal the renewal of their scholarship to Judy O'Neill, Associate Dean and Director of Admission, who will confer with the Dean in making all appeal decisions.

Students will be notified of their scholarship renewal status (including the appeal process) via an email from Judy O'Neill in late May or early June of the first-year of study and after all grades have been submitted for spring semester.

Atkinson scholarships awarded to MBA/JD students are awarded for the one year of full-time enrollment in the Atkinson School and are not renewable.

Students who have questions about eligibility for scholarship renewal should talk with Judy O'Neill, Associate Dean and Director of Admission.


Scholarship Award Maximums

The annual dollar amount of scholarship assistance a qualified MBA student may receive from the Atkinson School cannot exceed the general Atkinson School tuition amount announced for the given acadamic year. In addition, the dollar amount of scholarship assistance for a given semester may not exceed the tuition charged to the individual student recipient for that semester.

The maximum number of semesters for which a student may receive scholarship assistance from the Atkinson School are as follows:

  • Early Career MBA, MBA for Career Change and BA/MBA students who qualify for Atkinson School scholarship assistance may receive scholarship assistance for a maximum of four (4) semesters.
  • Accelerated students whose program requires 36 credits or less of Willamette MBA course work and who qualify for Atkinson School scholarship assistance may receive scholarship assistance for a maximum of two (2) semesters.
  • Accelerated students whose program requires more than 36 credits of Willamette MBA course work and who qualify for Atkinson School scholarship assistance may receive scholarship assistance for a maximum of three (3) semesters.
  • MBA/JD students who qualify for Atkinson School scholarship assistance may receive scholarship assistance for a maximum of two (2) semesters during the year of full-time enrollment in the Atkinson School. MBA/JD students may receive named scholarship awards for a year of concurrent MBA and JD enrollment if selected as a scholarship recipient.


Financial Aid Suspension and Drug Related Offenses

The Higher Education Opportunity Act (HEOA), enacted in 2008, states that a student who has been convicted of any offense under any Federal or State law involving the possession or sale of a controlled substance shall not be eligible to receive any Federal or State grant, loan, or work study during the period beginning on the date of such conviction and ending after the interval specified in the following table:

Conviction involving possession of a controlled substance removes eligibility for:
First offense ................................... 1 year
Second offense ............................... 2 years
Third offense .................................. Indefinite

Conviction involving the sale of a controlled substance removes eligibility for:
First offense ................................... 2 years
Second offense ............................... Indefinite

A student who has lost eligibility may become eligible before the end of the stated ineligibility period if:
a)   he/she satisfactorily completes a drug rehabilitation program and passes two unannounced drug tests; or
b)   his/her conviction is reversed, set aside, or otherwise rendered null.

Effective July 1, 2010, students who lose eligibility for Federal and State financial aid due to a drug conviction may regain eligibility if they successfully pass two unannounced drug tests conducted by a drug rehabilitation program.

If you have specific questions regarding how the Federal requirements will impact your financial aid following a drug conviction, contact the Office of Financial Aid: finaid@willamette.edu
503-370-6273 or toll free 1-877-744-3736


Health Insurance Requirement

All Willamette Early Career MBA and MBA for Career Change students who are enrolled for six or more credits of course work are required to carry health insurance.  Willamette University automatically places U.S. students on a third party health insurance carrier policy and automatically places international students on a health insurance policy for international students.

Student health insurance for U.S. students is billed annually at the beginning of the year and will appear on your first statement for tuition and fees. Student health insurance for international students is paid at the beginning of fall semester and spring semester.

If you have coverage under another plan, you may be able to waive Willamette’s student insurance plan.  U.S. students with other coverage can go online after July 1, 2011 to waive out of Willamette’s student insurance.  This plan must be waived by September 21, 2011.  To find out more about the student health insurance plan and the waiver process go to:  http://www.willamette.edu/dept/health/insurance/.

International students with other coverage must personally meet with Chris Andresen to show proof of adequate coverage before classes start on August 22nd.  To find out more about the international student health insurance plan and the waiver process go to:  http://www.willamette.edu/dept/oie/intl/handbook/insurance/.

Cost for insurance for 12 months coverage for the 2010-11 academic year are:

  • U.S. Students 24 years of age or younger as of August 15, 2011 = $490
    Note: paid fall semester only; provides 12 months coverage
  • U.S. Students 25 years of age and older as of August 15, 2011 = $737
    Note: paid fall semester only; provides 12 months coverage
  • International Students = estimated as $468 per semester  ($936 for the year)
    Note: $468 paid fall semester and $468 paid spring semester; provides 12 months coverage for a total of $936


Billing Process for Tuition and Fees

While attending Willamette University, you will be billed each semester for tuition, fees and other incurred charges. You will receive your billing electronically through Willamette University’s electronic billing and payment system, known as QuikPAY.  When the billing is posted, you will receive an e-mail notification at your university e-mail address.

The initial bills for fall and spring semester are posted on or around the 15th of the month in July and December, respectively.  Payment for Fall Semester 2011 is due on August 22, 2011.  Payment for Spring Semester 2012 is due on January 16, 2012.  Unpaid tuition balances are subject to a $50 late fee and a 1 percent monthly finance charge.

Additional information regarding the billing process and access to your electronic statement can be found at Willamette’s Billing and Payment FAQ web page at: http://www.willamette.edu/dept/studentaccounts/quikpay.

If you have any questions please call the Office of Student Accounts and Loans at (503) 375-5308 or email student-accounts@willamette.edu.

The following payment options are available:

1) QuickPAY – You can access Willamette’s online payment system and find instructions on how to make electronic payments at www.willamette.edu/dept/studentaccounts/quikpay

2) Mail (or in person) – You can pay by check through the mail or by coming to the cashier’s window at Waller Hall.  Make the check out to “Willamette University” and write your name and student ID number on the check.  Mail the check to: Willamette University; Student Accounts Office; 900 State Street; Salem, Oregon 97301

3) Wire Transfer:  You can wire funds in U.S. dollars from your bank to Willamette University. 
Bank Name/Address:       Wells Fargo Bank
                                     420 Montgomery Street
                                     San Francisco, CA 94104

Routing Number (ABA):    121000248
SWIFT Code:                  WFBIUS6WFFX (for international wires only)
Account Name:                Willamette University

Account Number:              4159599240
Reference Area:               Write your Name and your Willamette ID number

4) Payment Plan – An alternative payment option is Willamette’s monthly payment plan.  This payment plan is administered by Tuition Management Systems (TMS), a third party service provider.  The plan is interest-free and offers students a program through which educational expenses for the year can be spread out over 8, 10 or 12 months.  The only additional cost associated with this plan is an annual enrollment fee of $75.  Please call TMS at 1-800-722-4867 or visit their website at www.afford.com/willamette for more information.

If you have any questions please call the Office of Student Accounts and Loans at (503) 375-5308 or email student-accounts@willamette.edu.


Direct Deposit of Student Account Refunds

Students who are eligible for a student account refund check can sign up for direct deposit through WebAdvisor.  Please note that international students are not eligible to sign up for direct deposit due to international ACH transaction rules.  For more information about direct deposit, the student refund policy, and instructions on how to sign up for direct deposit through WebAdvisor, please visit the following web page: www.willamette.edu/dept/studentaccounts/web_advisor.

If you have any questions please call the Office of Student Accounts and Loans at (503) 375-5308 or email student-accounts@willamette.edu.

Willamette offers a deferred payment program through a third party company known as Tuition Management Systems (TMS). This interest-free payment plan offers students a program through which educational expenses for the year can be spread out over 8, 10 or 12 months. This monthly payment plan option has a $75 application fee for the year. Under this plan you divide your net expenses for the entire year by 8, 10 or 12 to determine your monthly payment. Please call TMS at 1-800-356-8329 or visit their website at https://www.afford.com/%28S%28zllox445ohatcz3ftjw2ha45%29%29/willamette/SchoolLinks.aspx?S_ID=3227&SA_ID=1


Late Fees

If a student fails to complete payment or make arrangements with the Business Office by 4 p.m. of the due date designated, a $50 late fee will be assessed and interest with accrue at 12 percent APR (Annual Percentage Rate). If payment is still not received within 30 days of the semester start date, the student may be disenrolled for nonpayment of fees. If you have any questions regarding this information please call the Office of Student Accounts and Loans at (503) 375-5308 or email student-accounts@willamette.edu.


Willamette University Withdrawal Refund Policy

Students are admitted to Willamette with the understanding that they will remain until the end of the semester unless unforeseen circumstances necessitate their withdrawal or unless they are dismissed or suspended. Students who are suspended or expelled from the University forfeit all refunds of tuition and fees.

MBA students who want to completely withdraw from Willamette University (drop all courses at Willamette University) during a semester should submit the online Complete Withdrawal During a Semester form.

In compliance with the Higher Education Amendments of 1998 (Section 668.22), Willamette University’s refund policy is as follows:

1. A student's withdrawal date is the date the student began the institution's withdrawal process or officially notified the institution of intent to withdraw; or the midpoint of the period for a student who leaves without notifying the institution.

2. Refunds for tuition for full withdrawals will be prorated, per day, based on the academic calendar up to the 60% point in the semester.

If an MBA student drops below full-time (9 credits) but remains enrolled, after the 10th day of the semester (the Add/Drop Period), they will not have their tuition charge adjusted and will be billed as a full-time student for the semester.

3. Withdrawing students are responsible for applicable room and meal plan charges through the date they checked out of their campus housing with Residential Services.

4. Students withdrawing for medical reasons may petition for a Medical Withdrawal. In the case of an approved Medical Withdrawal, the student refund is the same as a student who withdraws from the University. However, the student's transcript will indicate a withdrawal for medical reasons. The Application for Medical Withdrawal may be obtained from the Registrar's Office.

5. Health insurance charges and student body fees will not be refunded to withdrawing students.

6. In the case of a student's death during a term, a full tuition refund will be granted to the student's estate.

Students, who withdraw and have received financial aid, will receive their refund after the required portion of their financial aid is returned to the aiding programs. The required portion of financial aid that is returned to the aiding programs is calculated as follows:

  • Title IV aid and all other aid is earned in a prorated manner on a per day basis based on the academic calendar up to the 60% point in the semester. After the 60% point, no refunds are granted for tuition.
  • Recalculation of financial aid is based on the percent of earned aid using the following federal formula: Percent Earned = Number of days completed up to the withdrawal date divided by total days in the semester
  • Federal financial aid is returned to the federal government based on the percent of unearned aid using the following formula: Aid to be returned = (Percent earned × the amount aid that was eligible to be disbursed) – (aid that was actually disbursed).
  • When financial aid is returned, the student may owe a balance to the University. The student should contact the Loans and Student Accounts Office to make arrangements to pay the balance.

Questions regarding this refund policy should be directed to the Loans and Student Accounts Office located on the first floor of Waller Hall on the Salem campus