Policies & Procedures for Payment of Fees to Columbia
Columbia Bible College Education fees can be paid via Cheque, Interac direct payment, or Passport to Education stamps.
Payment Due Date for the Fall 2013 semester is August 16th 2013
For students taking 6 credits or less, all fees are due August 16th 2013. For student with a course load of 7 credits or more there are three payment options available;
1. Standard payment plan - All fees are due August 16 2013
2. Deferred payment plan - The following deferred payment plan represents the minimum amounts, which must be paid:
||Amount to be Paid
|Payment # 1 - August 16th 2013
||50% of total amount owing
|Payment # 2 - October 15th 2013
||50% of balance remaining**
|Payment # 3 - Novemebr 15 2013
** payable by post-dated cheque, Cash or Debit**
3. Student Loan Payment Plan – To set up a Student Loan Payment Plan, you must submit this Agreement Form along with any required documentation by 4:30 pm on August 12, 2013.
If your student loan is approved, submit the Agreement Form along with a copy of the Notice of Assessment you received from your province confirming the amount of your loan. One of the two following scenarios will apply to you:
- The September disbursement of your loan covers the amount you owe to Columbia: your fee payment deadline will be extended to September 10, 2013 – all loan funds must be received by Columbia by this date.
- The September disbursement of your loan does not cover the amount you owe to Columbia: you are responsible to pay any amount not covered by your loan by August 16, 2013. The portion covered by your student loan must be received by Columbia by September 10, 2013.
If your student loan is not yet approved, submit the Agreement Form along with proof that your loan application has been submitted and is pending approval. The following payment schedule will be required of you*:
Aug 16, 2013: 10% payment
Sept 10, 2013: 15% payment
Oct 1, 2013: 25% payment
Oct 15, 2013: 25% payment
Nov 15, 2013: 25% payment
*please note that each percentage is calculated from the original total amount owing.
This payment schedule must be followed until proof of your approved student loan is received by the Financial Aid Office
Please note – If a payment deadline falls on a weekend or statutory holiday, payments made in person or by phone must be done within office hours on the previous business day. The College office hours are Monday to Friday, 8:00 am – 4:30 pm Pacific Time (please see the Calendar of Events on our website for exceptions.)
A documentation fee (resident students $100, commuter student $100) will be added to all student accounts requiring either a Deferred payment plan or a Financial aid payment plan.
***Special negotiated payment arrangements may incur an additional fee of $50.
If the student cannot finalize financing within a reasonable time, he-she will be asked to withdraw from the College.
Student loan information
All student loans are required to be payable to Columbia Bible College until such time as the account has been paid in full. Any resulting overpayment of tuition & fees will be available for a refund as stated below. After the student account is paid in full, a student may request subsequent loans be made payable directly to the student. Student loans, not approved at the time of registration, will not be considered as approved for the purposes of the CBC Financial Agreement.
Payments after Due Date
Missing a payment without prior approval of a new deferred payment plan by the Student Accounts Office will result in a $50 charge. If a student cheque is returned for any reason, a fee of $25 will be charged to the student’s account. Students with unpaid accounts will not be permitted to return the following semester and appropriate steps will be taken to collect outstanding accounts. Payments will be applied first to room/board, secondly to all other non-tuition related fees, and lastly to tuition.
Student refunds from accounts
Only payments received in excess of your student account will be available for a refund after add/drop week. An approved student loan is only deemed received, after the funds have been either wire transferred into the CBC bank account or the cheque has been received by CBC. Payments received from a parent, will only be refunded into the parents name unless otherwise instructed in writing by the parent. Payments received from a supporting agency, will not be refunded to the student without prior written authorization as to the intended purpose of any excess funds. Where more than one sponsoring agency has made payments on a student account, any refunds available will be pro-rated to the overall cost of the invoice in conjunction to the payment made and distributed accordingly to all sponsoring agencies first.
Please note: Refund requests take 5 working days to process
Bookstore charge authorizations
Bookstore charging authorizations will only be issued to the maximum amount available in accordance with any credit available on the student account. Bookstore charging is to be used for textbook and school supplies only and will not be available for personal items. As these authorizations are retained by the bookstore, at the time of purchase, it is advised that you are fully aware of all required textbooks before making your purchases (Any amount not used cannot be carried forward as credit).
Should you have any questions or concerns in regards to our Financial Policies, please contact the Student Accounts Clerk.