Understanding Your Bill
Below is an example of an Ithaca College bill. Click on the numbers for additional information regarding that section.
1 - Memo Fin/Aid
This is the same as "Possible Additional Financial Aid". See explanation on #12 below.
2 - New Balance
This is the amount you owe. Notice in this example that the balance is negative, indicating a credit (and no amount due). This is money you may have coming back to you. If you need this money to meet expenses for the start of the semester, you can request an AID ADVANCE of up to $2,000 (if eligible). The "Aid Advance Form" is available in the "Documents" section of the student financial services website or in their office.
3 - Statement Date
This is the date we printed your statement. Statements include all transactions as of that date. Note that statements viewed online in QuickPay are snapshots taken on that same statement date and do not reflect transactions since. To see the most recent information about your financial aid, visit HomerConnect.
4 - Due Date
This is when payment for your entire amount due must be made. If you plan to do a monthly payment plan, your contract needs to be executed before this date. All financial aid issues should be resolved, allowing for sufficient processing time. Bills not paid by the due date are subject to a $200/month late fee. While fall and spring semester bills have a specific due date, bills generated throughout the academic year are due upon receipt.
5 - Previous Billed Balance
This reflects an unpaid prior balance as of the statement date. In the case of this example, it shows an outstanding credit that has been applied to the new balance. You can view past statements in QuickPay for details of previous balances.
6 - Misc. Fines and Charges
A number of campus departments may assess fines and charges that will appear on your statement. These might include traffic fines, health center charges, library fines, residence hall damages, equipment charges, etc. Questions or disputes of these charges should be directed to the issuing department.
7 - Student Health Insurance
All students must have insurance coverage. If you already have coverage that meets the college's requirements, you can waive this charge in HomerConnect in the "Health Services" area under the "Student, Financial Aid, and Residential Life" menu. Waivers must be done every year. For deadlines and additional information about the health insurance requirements contact the Health Center.
8 - Room and Board Charges
New entering students are assumed to be in a double room and on the 14 meal plan. If your housing situation has changed since the bill was generated, you should pay the amount billed until the rate is adjusted. Questions about housing charges and/or changes should be directed to Residential Life.
If you are a student residing on campus, but not in campus apartments, you must be on a meal plan. All new entering students are billed initially for the 14 meal plan. Returning students are billed for the plan they were on the previous semester unless they are now assigned to a residence hall that does not require them to be on a meal plan or are residing off campus. Meal plans can be changed in HomerConnect. To add a plan you must pay in advance. Questions about meal plan options and deadlines for changes should be directed to Dining Services.
9 - Advance Despoit
Advance deposits are paid each spring semester to hold your spot for the following fall. Paying your deposit allows you to participate in online registration and the residence hall lottery. The advance deposit amount is $400. Returning students with financial aid can apply at the Office of Student Financial Services for permission to pay a reduced fee of $40. Advance deposits paid in the spring will appear as a credit on your fall bill. Enrollment confirmation deposits for new students will also appear in this area.
10 - Tuition Plan
Ithaca participates in the Tuitionpay payment plan offered by Sallie Mae. You will determine the amount of your contract and payment term when you enroll in the plan each semester. The entire amount of the contract is applied to your account at the start of each semester. To enroll, visit tuitionpay.salliemae.com.
11 - Authorized Financial Aid
This reflects aid that is all set and ready to be disbursed.
12 - Possible Additional Financial Aid
Also referred to as "memoed aid", possible additional financial aid reflects aid that in some cases require further action on your part. Remember that if you are offered a loan, you must accept the loan offer in HomerConnect. First time borrowers will also need to do an entrance interview and master promissory note (MPN) at https://studentloans.gov. PLUS loan applicants must complete a parent or graduate "PLUS loan request form", which can be downloaded in the "documents" section of the student financial services website.
13 - Financial Aid Documents Needed
These are the documents you still have outstanding that need to be received before your aid can be processed. Many of these forms can be found in the "documents" section of the student financial services website.