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Terms of Payment All SCAD fees are payable in accordance with SCAD’s published due dates. The student (or parent/guardian, if assuming responsibility) is responsible for ensuring that payments are made by the scheduled due dates. The student is urged to make any necessary financial arrangements (including outside sources such as federal and/or state financial aid, vocational rehabilitation, benefits provided by an employer outside of SCAD or scholarship programs) well in advance of the dates on which fees are due. A student who is in arrears to any SCAD department may


not receive grade reports, academic transcripts or a diploma. Collection costs are added to all accounts assigned to SCAD’s collection service. Fees not paid by any outside funding sources by the due


dates must be remitted by the student or responsible party by the due dates. Late payment fees may be charged when students do not pay tuition, housing or meal plan balances in full by the published due dates or do not have sufficient authorized financial aid. Failure to meet financial obligations may result in dismissal from SCAD.


Payment Options 1. MySCAD online secure payment with credit or debit card: MasterCard, Visa, Discover, American Express. Payments also are accepted by mail or in person.


2. Cash, check, money order or traveler’s check. 3. PayPal, for students attending SCAD Hong Kong. 4. Wire transfers to SCAD’s bank. Allow five to seven business days for the bank to notify SCAD. Indicate student’s name and student’s SCAD ID number at bank of origin and pay any transfer fees. For bank information and details, go to www.scad.edu/studentaccounts and click on Methods of Payment.


5. My Payment Plan. Automated drafts from a credit card or bank account may be made through MySCAD. There is an enrollment fee for this service and this fee plus the initial installment must be paid upon signup. For more information, go to www.scad.edu/studentaccounts.


6. Sallie Mae Tuition Pay Plan. This interest-free monthly prepayment program allows students to pay certain fees on a monthly basis throughout the year out of their current income or savings. Visit www.tuitionpayenroll.com (also accessible through www.scad.edu/financialaid) or call 800.635.0120 for information.


Disbursement Schedule for Financial Aid Funds Disbursement of financial aid funds is completed following the drop/add period each quarter. Because changes in federal regulations generally go into effect July 1 each year, federal loans are not disbursed until July 1 for summer quarter. The following information is important to the disbursement of financial aid, is in compliance with federal and state regulations and is subject to change. Federal loans are subject to a processing fee charged by


the U.S. Department of Education; the amounts shown on the financial aid notification award are reduced by this fee when credited to the student’s account. Students and parents/ guardians have the right to cancel all or part of their loans, in writing, within two weeks of disbursement notification. More information about educational loans is available at www.scad. edu/financialaid or www.studentloans.gov.


Before disbursement of financial aid funds, eligibility


is reviewed and necessary adjustments are made based on enrollment, class level, and program specific eligibility requirements. To be eligible for financial aid funds, students must be enrolled in a degree program and must be enrolled at least half-time to receive the funds. Program specific requirements include: • SCAD academic and artistic scholarships are prorated by the number of credit hours in which the student is enrolled, require a cumulative grade point average of 3.0, and may be subject to reduction if living off-campus.


• Georgia State Aid: HOPE scholarship is prorated by the number of credit hours in which the student is enrolled, and the student must maintain the same enrollment level through the first three weeks of class. GTEG requires full-time enrollment. LEAP requires at least half-time enrollment


• Federal grants are prorated by enrollment. • Federal loans require at least half-time enrollment. • Alternative loans generally require at least half-time enrollment (exceptions are program specific).


Adjustments made when funds are disbursed, or anytime thereafter, can create a balance due on the student’s account which is immediately payable. Funds are credited to the student account to pay for


educational charges incurred. Parent Plus loans are the last funds to be credited to the student’s account and credit balances that result from Parent Plus loan proceeds are refunded to the parent borrower.


Refunds After all SCAD charges have been paid, any credit in excess of charges may be refunded. Credit balances created by Title IV aid programs are available for refund to students the second week of each quarter and to parents/guardians the third week of each quarter. To claim their refunds, students must have been awarded aid and must meet the enrollment criteria for their aid programs. First-time Stafford borrowers and Grad PLUS loan borrowers must complete entrance loan counseling online at www.studentloans.gov. SCAD does not provide cash advances prior to the drop/add period. Students must plan ahead and have their own funds available to purchase books and supplies, pay rent, etc. As aid continues to be processed, funds are credited to student accounts 10 to 14 business days following receipt of approval from the William D. Ford Direct Loan Program. Students may elect to have their refunds deposited directly into their bank accounts in order to avoid delays in receiving funds. Direct deposit forms are available through the student accounts office and via MySCAD.


Authorization for Disposition of Federal Aid By signing an Authorization for Disposition of Federal Title IV Financial Aid Program Funds form, students or parents/ guardians give SCAD permission to pay other fees in addition to tuition, room and board with their Title IV aid; request that SCAD retain credit on their accounts for budgeting purposes; and indicate in whose name refund checks should be issued. Title IV funds include Pell and SEOG grants and student and parent federal loans. This is a one-time authorization and is valid for subsequent award years. The form and conditions are available on the SCAD website at www.scad.edu/studentaccounts and may be modified in writing through the student accounts office.


student f inancial services


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