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Bursar’s Office

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Bursar’s Office 2017-03-22T14:32:59+00:00

Billing & Payment

MCNY charges tuition on a per semester basis. Students are liable for full tuition payment by the first day of class. MCNY students receive a tuition rate guarantee* provided that they attend consecutive semesters while enrolled in a degree program. Students who leave for one semester or more (excluding summer semester) and return will be charged the current tuition rate for new students.

Click here to see current rates

* The College reserves the right to adjust the amount of Tuition and Fees whenever necessary.

Students who are advised on the day of or after the first day of class will be charged the late registration fee of $50.00.

MCNY maintains a single account for every student to which all charges and credits will be applied. A Statement of Accounts is presented to student upon registration and published monthly to a student’s Self-Service account.

Payment for tuition and fees are due by the start of each semester or by the due date listed on the billing statement. Financial Aid will release credits for grants, loans, and scholarships after verifying the accuracy of the information upon which the award was based. Typically, half of each award will be credited per semester. Any student who fails to pay the balance on the Statement of Account by the specified due dates will have a “Bursar Hold” placed on their student account and not be allowed to register, receive academic transcripts or diploma. Please allow sufficient time for mailing of your payments.

Payment may be made by Visa, MasterCard, American Express, Discover, check (US funds only), money order, travelers check, cash (in person only), and wire transfer, or through the College’s electronic payment system, CASHNet, described in more detail in the next section.

Please make checks payable to MCNY and include the student’s name and MCNY ID number on the face of the check to ensure accurate posting. Checks for tuition and fees charged to your student account should be mailed to:

Metropolitan College of New York
60 West Street
New York, NY 10006
ATTN: BURSAR

For Wire Transfers:

Payee Name: Metropolitan College of New York
Payee Address: 60 West Street
New York, NY 10006
Account Name: General Fund Account
Bank Name: JPMorgan Chase
Bank Address: 4 Metrotech Center
22nd Floor
Brooklyn, NY 11245
Bank Officer: Rocco Spotta (718) 242-3845
Swift Code CHASUS33
ABA/IBAN 021000021
Account Number: 530503743

Invoices to registered students are sent electronically. An email will be sent to the student’s MCNY email address (@mcny.edu) notifying him/her that the invoice is ready to view through the Self-Service internet portal. By logging into your Self-Service account, you can access MCNY’s secure electronic billing and payment system called CASHNet.

All checks returned from the bank (including e-Check or ACH transfer) will incur a penalty of $40. The College cannot presume that the student has withdrawn from classes because the check has not cleared or has been stopped; payment and penalty remain due. Payment for the amount of the returned check and the $40 returned check fee must be made with cash, certified bank check, or money order. Another personal check will not be accepted.

Students whose tuition and fees are being paid for by a third party (employer, government agency etc.) must provide documentation to the Bursar office from the third party indicating that the institution is paying the student’s tuition and how much they will cover. The student must also fill out a Third Party Billing Agreement Form with the Bursar office.

Students are encouraged to pay the total account balance in full by the first day of class. However, if a student is unable to make the payment, the Bursar’s office requires those students (whose financial aid does not cover their balance) to come in and arrange a payment plan. Payments are to be made over the course of the 4 months in the semester. It is required that students make an initial payment upon setting up their payment plan contract. Please note that we offer weekly, bi-weekly and monthly payment plans.

International students are encouraged to pay their total account balance in full by the first day of class. However, if a student is unable to make the payment, the Bursar’s office requires an initial 40% down payment and a payment plan for the remaining 60%. The balance must be paid within two months from the date of the initial payment. Please note that scholarships are deducted before determining the payment plan balance.

Please note: Payment to the college is the responsibility of the student. Payment is not contingent on receiving grades, receiving passing grades, or completing courses. In the event that a student’s financial aid, loans or third party payment are not realized, the student is responsible for paying any outstanding balance through other means. Failure to receive an invoice in the mail is not sufficient grounds to appeal college policy. It is the responsibility of the student to check their account balance online and remit timely payment.

Per federal policy, Pell eligible students can be granted a refund advancement of up to $300.00 towards the purchase of books and supplies. The amount has been determined based on the cost of attendance at the Metropolitan College of New York. By signing and submitting a Book Advance form, the student understands that:

  • Student must be enrolled for the semester that they request the Book Advance.
  • Student must be Pell eligible and submit all required paperwork to the financial aid office and satisfy all Admissions requirements.
  • Student must be anticipating a Title IV based credit balance (Title IV funds include Pell, Unsubsidized Loan, Subsidized Loan and Federal Supplemental Educational Opportunity Grant/FSEOG).
  • Students, who have a prior year balance but are anticipating a Title IV credit balance, will have up to $200.00 of their credit used within the academic year towards their prior balance first, in accordance with federal regulations. The remaining amount will be used towards their Book Advance refund.
  • Book Advance submissions will not be accepted after 1 month from the first day of classes for the semester of the request.
  • Students will receive a Book Advance refund of no more than $300.00.
  • If the student is approved for the Book Advance refund, the student authorizes the Metropolitan College of New York to advance a partial refund to them prior to the first day of class.
  • Refund files are sent to Bank Mobile every Tuesday by 1:00pm. BankMobile will then issue the refund to the student based on the refund preference they have selected at www.Bankmobilevibe.com Failure to select a refund preference will result in a delay in the issuance of the student’s Book Advance refund.
  • Student refunds will be processed by Higher One and will be issued to the student based on the refund preference they have selected at Bankmobilevibe.com Failure to select a refund preference will result in a delay in the issuance of the student’s Book Advance refund.
  • Student is responsible for full repayment to the Metropolitan College of New York in the event that the student’s financial aid eligibility changes or their awards require re-calculation due to a change in his or her course schedule. He or She will be responsible for any balance incurred due to the Book Advance refund.
  • If the student does not receive financial aid or withdraws prior to receiving his or her financial aid, all outstanding charges including the Book Advance charge, will be their responsibility.

*The College reserves the right to change the date and time in which the refund files is sent to Higher One whenever necessary.

For those students who are not Pell eligible but have a Title IV credit balance available after submitting all required paperwork to the financial aid office and having satisfied all Admissions requirements if they are a new student, can apply for a Book Advance, which can be used through MCNY’s partnership with Akademos, a virtual bookstore, to offer students the option of purchasing books online for below list price. Undergraduates can receive a credit line of up to $300 while graduates can receive up to $500 for book purchases. If you do not use the line of credit, you will not be charged or if you spend less than your line credit, your account will reflect the actual cost. If your total purchase exceeds your credit line, you will have to pay the difference.

Students who have a prior balance are not eligible to receive a Book Advance. Furthermore, all Book Advances expire 1 month from the first day of classes for the semester of the request.

In the event that the student’s financial aid eligibility changes or their awards requires

re-calculation due to a change in his or her course schedule. He or She will be responsible for any balance incurred due to the Book Advance. If the student does not receive financial aid or withdraws prior to receiving his or her financial aid, all outstanding charges including the Book Advance charge will be their responsibility.

A portion of the student’s educational costs may be deductible on Federal and State income tax return via the college generated 1098-T Tuition Statement Tax Form. This can increase the student’s tax refunds. In order for a 1098-T Tuition Statement Tax Form to be generated, students must have a Social Security number or Tax Identification number on file with the Registrar office. Students should consult with an accountant to assure compliance with tax regulations.

Please note: 1098-T Tuition Statement Tax Forms are mailed to the student’s home address on file no later than January 31st of the following year. Furthermore, the Metropolitan College of New York, in conjunction with ECSI, is now offering students online access to their 1098-T Tuition Statement Tax Form. If you would like to access your 1098-T form online you must do the following:

  1. Please click the following link: ecsi.net/taxinfo.html
  2. Once there, you must follow the link that states “Click here to retrieve your login credentials” and enter the requested information. Click “Submit” in order to receive our school code, your account number and password.
  3. Click on the link that says “Login Page” and enter our school code, your account number and password.
  4. Once in your account, select the “Tax Information” link and scroll down the page to select the appropriate year’s 1098-T Form you would like to view. Please note that not all previous year’s 1098-T Forms are available online. Please contact the Bursar’s office if you need a previous year that is not available online.

Refunds

Students, who withdraw, take a leave of absence, or drop a course(s) after the first day of classes are responsible for tuition charges. The tuition refund amount for withdrawing from their semester courses is based on the date the student submits their semester withdrawal form to the Registrar office. The tuition refunds policy is as follows:

Before semester begins 100%
Through the first week of semester 75%
Through the second week of semester 50%
Through the third week of semester 25%
After the third week of semester No Refund

Any adjustment of aid for dropped courses, withdrawals, and leave of absence will be determined by the Bursar’s office. Students who are due a refund for financial aid or loan funds in excess of their college charges will first have refunds posted to their student account. It can take up to two weeks from the date it was posted for the refund to be received by the student. Refunds are distributed to the student by BankMobile based upon the refund preference selected by the student on www.bankmobilevibe.com.

Please note that MCNY disburses aid in the following order: loans, federal grants, state (TAP) grants, and lastly institutional scholarships. Hence, student refunds usually occur towards the end of the semester.

Students may review their student account (financial aid awards and billing statements for instance) on the Self-Service website.

All students are sent a green envelope from BankMobile containing a Personal Code to the address on file with the college. Students are also sent a Personal Code to their MCNY Outlook email. If you do not receive the green envelope, please log into your MCNY Outlook email for your Personal Code. Visit www.bankmobilevibe.com and use the unique set of digits to log in and view your choices and select the refund preference that’s right for you.

If you do not receive a green envelope from BankMobile and you did not receive a email from BankMobile in your MCNY Outlook email. please stop by the Bursar office in order to request a an Instant Personal Code in order to select your refund preference. Students can also contact us at 212-343-1234 ext. 5002 or at boffice@mcny.edu to request an Instant Personal Code.

*Please note that Instant Personal Codes are only sent to the students MCNY Outlook email address.

  1. Same Business Day Deposit to One Account – Refunds are deposited on to student’s MCNY Red Card the same day that we release the funds to BankMobile. This is the quickest way for students to receive their refund. There are fees associated with the use of the MCNY Red Card. For a list of the fees, please review the Fee Schedule on www.com
  2. Deposits to Another Account – Refunds are issued via a deposit to another bank account. If this option is selected, the student must submit the bank account and routing information for the account to which they would like their refunds transferred. It can take 2-3 business days for the student to receive their refund into their bank account. There is no charge for receiving your refund this way.
  3. BankMobile Paper Check via US Mail – This is a check mailed by BankMobile and not by the Metropolitan College of New York to the student’s home address on file with the college. It can take up to 7 business days for the student to receive their refund. There is no charge for receiving your refund this way.

 

Refund files are sent to BankMobile every Tuesday by 1:00pm. BankMobile will then issue the refund to the student based on the refund preference they have selected at www.bankmobilevibe.com. Failure to select a refund preference will result in a delay in the issuance of the student’s refund.

*The College reserves the right to change the date and time in which the refund files is sent to BankMobile whenever necessary.

Using Title IV Financial Aid Refunds to Pay Prior Year Charges

Due to federal financial aid regulations, the Metropolitan College of New York can only automatically apply a maximum of $200.00 from the current academic year to pay any prior year balances.

Parent PLUS Refunds

If a credit balance is the result of a Parent Plus loan, the credit balance will go to whomever the parent selected to be the recipient of the refund on the loan application. This can be either the student or the Parent. If the refund is to be issued to the parent, it will be sent to the address on

This policy applies to students who complete 60% or less of the enrollment period (i.e., Fall, Spring or Summer session) for which they received Federal Title IV aid. A student who drops a class but still completes one or more classes does not qualify for the Return of Title IV Funds policy. The term “Title IV aid” refers to the following Federal financial aid programs: Unsubsidized Federal Direct Loans, Subsidized Federal Direct Loans, Federal Direct PLUS Loans, Federal Pell Grants, and Federal SEOG (Supplemental Educational Opportunity Grant).

To conform to the policy, Metropolitan College of New York (MCNY) must determine the student’s withdrawal date. The withdrawal date is based on the earlier of the two:

  1. The last date of attendance at an academically-related activity by a student, or
  2. the date the student began the withdrawal process or officially notified MCNY of their intent to withdraw.

The calculation required determines a student’s earned and unearned Title IV aid based on the percentage of the enrollment period completed by the student. The percentage of the period that the student remained enrolled is derived by dividing the number of days the student attended by the number of days in the period. Calendar days (including weekends) are used, but breaks of at least 5 days are excluded from both the numerator and denominator.
Until a student has passed the 60% point of an enrollment period, only a portion of the student’s aid has been earned. A student who remains enrolled beyond the 60% point is considered to have earned all awarded aid for the enrollment period.

Earned aid is not related in any way to institutional charges. In addition, the College’s refund policy and Return of Title IV Funds procedures are independent of one another. A student who withdraws from a course may be required to return unearned aid and still owe the college for the course.

The responsibility to repay unearned Title IV aid is shared by MCNY and the student. For example, the calculation may require MCNY to return a portion of Federal funds to the Federal Title IV programs. In addition, the student may also be required to return funds based on the calculation. A student returns funds to the Federal Direct Loan programs based on the terms and conditions of the promissory note of the loan. A student who receives a Federal Pell Grant may be required to repay 50% of the funds received. The return of Federal aid is in the following order: Unsubsidized Federal Direct Loans, Subsidized Federal Direct Loans, Federal Direct PLUS Loans, Federal Pell Grants, and Federal SEOG (Supplemental Educational Opportunity Grant).

Electronic Services

Sign on to Self-Service and take a look at the electronic services available in the Student Financial Services channel under the Finances tab.

Access Your Financial Aid Information
Student financial aid awards are displayed by aid year, along with a list of documents that have been received and a list of documents still needed to complete your financial aid file. This information is provided in “real-time,” so information is current as of the day and time that it is viewed.

Electronic Invoices
In an effort to offer greater access to invoice and payment information as well as reduce our impact on the environment, MCNY issues electronic invoices. Students will receive a notification to their MCNY (@IQmail.edu) email account when an invoice is ready to be viewed online.

Webcheck/ACH payment
Students can now make payments online using a checking or savings account. No more writing checks!

Designate Authorized Users
Students can designate an authorized user (parent, relative, guardian, employer, etc.) to view their account and make payments on their behalf. If a student designates an authorized user, the user will receive email notifications, such as: new invoices available for viewing, or that a payment for his or her payment plan is due, etc..

Store Payment Methods
Students can store payment methods for faster transactions. Simple access the My Profiles link to store either credit card or checking or savings account information. The stored payment method will become an option for payment each time you make a payment through the system.

1098-T Tuition Statement Tax Form
Students can access their MCNY’s 1098-T Tuition Statement Tax Form(s) online using the following steps:

  1. Click on the following link “Click here to retrieve your login credentials” and enter the requested information. Click “Submit” to receive your password.
  2. Click on the link that say “Login Page” and enter our school code (3H), your account number (your SSN) and password.
  3. Once in your account select “Tax Information” link and scroll down page to select the appropriate year’s 1098-T Form you would like to view.