What is the Prepaid Tuition Plan?
The Prepaid Tuition Plan allows families of incoming first year students to guarantee the current year’s tuition rate for all four years of attendance at Stonehill College by paying the tuition in advance.
Who is eligible to participate?
First year students interested in the Prepaid Tuition Plan must enroll and make payment prior to beginning their first semester. Students with scholarships or grants based on financial need are not eligible to participate in the plan. Only incoming first-semester first year students may enroll in the program.
What is the payment amount?
The Prepaid Tuition amount equals four times the freshman year tuition rate.
For example, in Academic Year 2017-2018 the tuition is $41,300; therefore, the prepaid tuition total would be 4 x $41,300, or $165,200. This amount is payment for 12 though 17 credits per semester for eight consecutive fall and spring semesters. Course Overloads, Summer sessions and intersessions are not covered by this plan.
Can room and board or fees be prepaid?
No. Only tuition qualifies for prepayment. All other costs are billed and payable during each academic year, as appropriate.
If we enroll in the Prepaid Tuition Plan, what extra costs will be billed?
Since only tuition will be covered by the prepayment, the additional costs for freshman year would include the following:
- Room Guarantee Charge $ 100 -(Resident students only)
- Room & Board $15,660 -(Resident students only)
- Parking Decal $75 for Commuters, $150 for Resident Students
In subsequent years, the above charges would again be assessed. Bear in mind that historically, each of these charges increases annually and so would probably be about 3% to 5% higher in each academic year.
When must payment be made?
Full payment must be made no later than the first of August immediately preceding the student’s first day of attendance at Stonehill.
What if the student wishes to study abroad?
If a student chooses to study abroad, there will be no additional tuition due for that semester unless the cost of the study abroad program exceeds tuition and housing charged by Stonehill College in that semester. Students will still be expected to pay housing and fees for the abroad semester.
What if an emergency arises and we need access to the prepaid funds?
The plan may be canceled and amounts prepaid for future years reclaimed. Payment of subsequent tuition charges would revert to the then-current tuition rate, payable by the appropriate deadlines.
What if the student withdraws from the College?
If the student does not complete four years of enrollment, refund of the current year’s tuition is based on the standard Refund Schedule published in the Hill Book. The future years’ tuition prepayments are refunded at 100% of the amount paid to the College prior to the start of classes. No interest accrues, and no interest is refunded.
What if we apply for financial aid?
The amount of the pre-paid tuition for the specific academic year will be treated first as a replacement for family contribution and any excess will be considered a resource to the student. The amount to be prepaid is tuition minus Stonehill merit aid times 4. (Students with need based grants are not eligible to participate in the Plan.)