Expenses

The College and its Board of Trustees reserve the right to adjust these charges to reflect economic conditions. All costs for tuition and fees, including course fees, are for the 2007-2008 academic year. The Business Office can supply information on the changes in costs for 2008-2009 academic year once it becomes available in May of 2008.

Expenses II

Liability and Student Responsibility

It is the responsibility of the student to ensure that Molloy College has a correct mailing address at all times. Failure to receive a Student Statement of Account will not exempt the student from the responsibility to pay the balance on the assigned due date, nor will it exempt the student from late penalties, neither from Molloy Collection Policies and Procedures, nor from having an accounts receivable or Bursar Hold. Students are responsible for the payment of all financial obligations: this includes all costs associated with the collection of this debt, which, on a past due account can include collection fees, court costs and legal fees.

Health and Accident Insurance

All full-time students are required to carry Health and Accident Insurance*. This once a year fee is charged in the fall semester. If a student is currently covered by another policy of greater or equal value, the Molloy Insurance may be waived. Waiver forms are available in the Office of the Bursar or can be downloaded from the Bursar Office Quick Links pages on the Molloy website at www.molloy.edu. Please read and follow all the instructions on the Waiver Form. This form must be completed and returned to the Office of the Bursar each Fall by October 1. Health and Accident Insurance must be waived each year if not desired.

New full-time Spring student only: These students will be charged for Health and Accident Insurance on a partial year fee basis. This insurance may also be waived in the same manner as done in the Fall. For new Spring students only, the waiver forms must be completed and submitted to the Office of the Bursar each Spring by February 1.

Students who were part-time in the Fall Semester and full-time in the Spring Semester: These students will automatically receive insurance coverage for the Spring and will automatically be charged the partial-year fee. Any student already covered by another policy, may complete and submit a waiver form to the Office of the Bursar by February 1 each Spring.

Clinical Students: All students attending a clinical program are required to carry professional liability and long-term disability insurance under a group plan sponsored by Molloy. This annual fee is payable to the Bursar and will be reflected on the student tuition bill.

International Students: International students who require insurance coverage in excess of the limits provided by the student accident and sickness plan, can request enrollment in a plan tailored to the international student. International students who wish to participate in the International Plan must obtain an Enrollment Card from the college's Student Health Services Office. The cost of the annual coverage will vary depending on the plan chosen. This plan is not underwritten by Combined Life Insurance Company of New York.

*All full-time students of Molloy College are automatically charged for this coverage. Part-time students with at least 6 credits can request enrollment in the insurance plan. Part-time students who wish to participate in the plan must obtain an Enrollment Card from the Health Services Office. The cost of the annual coverage is $185.00. The cost to enroll only for the Spring Semester is $125.00.

Confirmation Deposits

Prior to the General Registration all first-time Freshmen, new Transfer and Readmitted students are required to pay a $200.00 non-refundable Confirmation Deposit, which will be applied to the student's tuition charges. This is a one-time payment. Continuing students and students returning within the limits of the permitted leave are excluded from making a deposit.

NOTE: Payment of the Confirmation Deposit does not guarantee eligibility for registration.

Bursar Holds

Continuing students need a zero balance in order to participate in subsequent registrations, to have transcripts released and to graduate. Bursar Holds will be placed on those accounts which have an unpaid balance.

Undergraduate Expenses

Students may view tuition and the schedule of fees at www.molloy.edu/bursar/tuition.htm

2007 - 2008:

*Honors Program students during their freshman and sophomore years may register for more than 16 credits with permission of Academic Affairs. These students will be exempted from the "Each Additional Credit Over 16 Credits" charges during their freshman and sophomore years in the Honors Program for up to 18 credits.

SUMMER NOTE: Students registering for Summer sessions are charged the General Fee and the Registration Fee for each session (or summer subterm) for which the student registers into Summer courses. See the "Registration Guide" booklet for the fees schedule per session.

Graduate-Level Expenses Policy

Undergraduate students registering for graduate-level courses will be charged at the graduate per credit tuition rate for graduate courses. See the Graduate Catalog for more details on the amounts. (Dual degree students in business and nursing will be allowed to complete two to three graduate-level courses as allowed in the major requirements for Molloy's dual degree programs at the undergraduate tuition rate.)

Graduate students registering for undergraduate-level courses will be charged at the undergraduate per credit tuition for undergraduate courses taken as prerequisites for the master's degree programs needed for admission to the graduate program or for certification eligibility with the state.

Fees are based upon the student's current division and program of study. Students who have graduated are considered graduate-level whether they are matriculated or non-matriculated.

Special Fees

Fees for individual courses are noted within their course descriptions and are applied to registrations for courses in all terms.

Application Fee: A non-refundable fee of $30.00 (or Reapplication Fee of $30.00) is payable to the Office of Admissions when the Application for Admission is filed.

Remedial Course Fees: Some special remedial courses, while not credit-bearing, are charged according to credit hour equivalency. These are noted as credit-equivalent under the individual course description.

*For further details contact the Financial Aid Office.

Tuition, fees or other student expenses billed to Molloy College by independent college programs or institutes, other educational institutions or outside agencies are not covered by any tuition remission or scholarship programs granted by Molloy College.

Collection and Late Fee Policies

Students are responsible for the payment of tuition bills including all charges associated with registration by the due date as stated on the Student Statement of Account Invoice. The following information includes the billing process and procedures regarding student account balances.

It is the responsibility of the student to insure that the billing address is correct.

The exact due date will be printed on the initial billing invoice. This date is linked to the General Registration date. On or after this due date, any student who registers for Fall or Spring semesters must pay in full upon registration.

Payment for the Fall Semester is due mid-August, as noted in the Academic Calendar.

Payment for the Spring Semester is due early-January, as noted in the Academic Calendar.

Students who fail to comply with the statement due date will receive monthly past due invoices. There is no grace period for the due date of tuition and fees for students registering after the published tuition due date. There students are expected to pay in full on the date of registration.

One month after the start date of the semester, a monthly late fee will be imposed. This Late Payment Fee of $15.00 per month or 1.5% per month, whichever is greater, will be added to the outstanding balance, if payment is not received by the published payment due date in the Academic Calendar. Please note that payment must be received in the Bursar's Office by the published due date or on the date of registration for students registering after the published due date.

To avoid a late fee being assessed to the student's account, students may take the following steps:

• Pay tuition and fees in full or in advance if financial aid is not in place
• Complete financial aid paperwork according the filing deadlines and apply for any loans by May 1st of the preceding academic year
• Arrange to have payment vouchers for Employer Tuition Deferment Plans on file in the Bursar's Office prior to the start of classes each term
• Arrange for the Monthly Payment Plan with Tuition Management Systems, Inc. to sufficiently cover fall and/or spring semester charges for tuition and fees.

Failure to complete required financial aid documents, in a timely manner causes delays in the award of student aid will result in a Late Payment Fee being assessed to any outstanding balance.

After an account is 60 days past due, account holders may expect to receive Molloy College reminder letters. Additional late penalties will be attached at this time. In the case of default, charges may include collection fees, attorney's fees, late fees, fines or interest charges due to Molloy College.

An invoice that is 120 days past due may be turned over to a collection agency. This action may affect personal credit rating and will add additional collection costs to the past due balance.

IMPORTANT: No student will be allowed to register for a new academic semester owing money from a previous semester. Personal checks are not accepted for past due balances.

Payment Methods

Payment in Full

Payment may be made by the following methods: Cash—check/money order—Visa or MasterCard (A downloadable form is available for credit card payments on the Molloy website in Quick Links under Bursar)—Monthly Budget Plan or through Financial Aid eligibility.

All checks should be made payable to Molloy College and include the student identification number on the check. The student account ID number is located in the upper left-hand corner of the Student Statement of Account.

By submitting a check for payment of a bill, Molloy College will be authorized to convert that check into an Automated Clearing House (ACH) debit transaction.

Checks returned to Molloy College for insufficient funds will be subject to a $25.00 transaction fee. Immediately upon notification of the returned check, the amount must be replaced with cash, credit card or money order. Any student having a second check returned for insufficient funds will not be allowed to use a personal check in the future.

Payment for summer classes is due at the time of registration. There are no payment plans for summer classes. If students register by mail, payment must accompany registration form.

Monthly Budget Plan

Molloy College participates in a deferred payment plan through Tuition Management Systems. This is an independent agency. Students who elect to use this method of payment must contact Tuition Management Systems directly. It is the responsibility of the account holder to accurately determine the monthly payment account. A formula for determining this payment is included in the information from Tuition Management Systems.

Tuition Management Systems
PO Box 842722
Boston, MA 02284-2722
1.800.722.4867, Ext. 710
www.afford.com/molloy

Please be aware that payments made from June through October are applied to the fall semester. The October payment is the final payment for the fall semester and must result in a zero balance. Failure to do so will result in the student being excluded from early registration.

Payments made from November through March are applied to the spring semester account. The March payment is the final payment for the spring semester and must result in a zero balance. Failure to do so will result in the student being excluded from early registration.

Third Party Employer Billing

For students whose employers offer an education benefit, Molloy College will send a bill directly to the employer for payment provided that the Office of the Bursar receives written authorization to bill the employer. The authorization must indicate that payment will be made upon receipt of the bill and that proof of payment and/or satisfactory grades are not required for payment. This authorization form must be sent to the Office of the Bursar for processing each semester that the student is requesting employer billing. The Office of the Bursar must receive documentation prior to payment due dates as noted in this section under "Collection Policies and Guidelines".

Tuition Waivers

Students receiving any type of tuition waiver must present the completed/authorized waiver form at the time of registration to the Office of the Bursar. All charges not covered by the waiver must be paid by the due dates listed previously.

Office of the Bursar's Telephone Number and Website Address

Bills are required to be paid in full by the due date. The payment due date for the fall semester is mid-August and spring semester is mid-January.

Mail payments directly to:

Molloy College

Office of the Bursar

PO Box 1110

Rockville Centre, NY 11571-1110

Students may contact the Office of the Bursar by calling 516.678.5000, Ext. 6222 or Ext. 6223, with questions about bills.

For in-person service the office is in W235 Wilbur Arts Center.

Students may also visit the Molloy College website at www.molloy.edu and on the homepage click on "Online Student Access" to login to their personal college account and view billing and payment information online.

Refunds

Credit balances are refunded to students in the form of a check, which is mailed to the student's primary address.

When a student withdraws from any course or courses by filing a written formal withdrawal notice with the Registration Office, refunds will be granted for TUITION ONLY (Fees are non-refundable*) as follows:

*Fees are non-refundable* beginning on the start date of the term as noted in the Academic Calendar.

The above refund policy is based on 100% payment. If a student on the Deferred Payment plan withdraws owing a part payment, the student is responsible for the balance due up to the time of withdrawal.

New freshman and transfer students who withdraw from any course or courses and are eligible for the Title IV assistance (Loans – PELL – SEOG) will be adjusted according to the percentage of aid earned at the time of withdrawal. See the Financial Aid Office for clarification of eligibility.

Special fees are not refundable. The effective date of withdrawal for refunds, if any, will be the date when formal written notice is filed with the Vice President for Academic Affairs or, in the case of withdrawal by mail, the official postmarked date of the correspondence.

The College reserves the right to change the requirements, tuition and fees whenever the proper authorities deem such changes necessary. Special fees may be announced for special courses, as need arises. Transcripts, degrees and related documents will be withheld until all financial obligations are settled. Student declaration of bankruptcy is not a condition which releases these documents.

Students are liable for all costs in the collection of delinquent accounts and all applicable late fees.

NOTE: Deadlines for specific semesters are listed in the "Registration Guide" booklets. Also, information regarding tuition and payments is available on the Molloy website at www.molloy.edu/bursar/index/htm.

Title IV Aid When a Student Withdraws

Students receiving Federal Title IV funds, who withdraw completely from Molloy, will have their Federal Title IV awards and loans prorated and refunded to the federal programs based upon the number of days in attendance. The amount of assistance that a student has earned is determined on a pro rata basis. For example, if the student has completed 30% of the period of enrollment (or the semester), the assistance earned is 30% of the assistance that the student was scheduled to receive. For any student who attends more than 60% of the semester, the student earns all of the assistance that was scheduled and no Title IV funds must be returned. Students will still be liable for any balance on the cost of their tuition and fees based upon Molloy's schedule for refunds, irregardless of the amount of Federal Title IV funds that have to be returned to the federal programs.

Students, who did not receive all of the funds earned may be due a post-withdrawal disbursement. If the post-withdrawal disbursement includes loan funds, students may choose to decline the loan funds to avoid incurring additional debt. Molloy may automatically use all or a portion of the post-withdrawal disbursement (including loan funds, if the student accepts the funds) for tuition, fees and charges (as contracted with the school).

Some Title IV funds that the student was scheduled to receive cannot be earned once the student withdraws because of eligibility requirements. For example, a first-time, first-year undergraduate student must complete the first 30 days of a program before withdrawing to earn any FFEL or Direct Loan funds.

Students (or on behalf of student, the school or the student's parent for a PLUS Loan) must return excess or unearned Federal Title IV funds. The school must return a portion of the excess amount equal to either the lesser of the institutional charges multiplied by the unearned percentage of funds or the entire amount of excess funds.

If the school is not required to return all of the excess funds, the student (or the parent for a PLUS Loan) must return the remaining excess amount.

Any amount of unearned grant funds that must be returned are called an overpayment. The amount of a grant overpayment that must be repaid is half of the unearned amount. Arrangements must be made with the college or the Department of Education for the return of unearned grant funds.

Federal Title IV funds are returned in the following order:

• Federal Stafford Unsubsidized Loans
• Federal Stafford Subsidized Loans
• Federal Perkins Loans
• Federal PLUS Loans (for graduate students)
• Federal PLUS Loans (for parents)
• Federal Pell
• Academic Competitiveness Grants (ACG)
• National SMART Grants
• Federal Supplemental Educational Opportunity Grants
• Other Title IV Aid Programs
• The student

For questions about the Title IV program funds, students can call the Federal Student Aid Information Center at 1-800-4-FEDAID (1-800-433-3243). TTY users may call 1-800-730-8913. Information is also available on Student Aid on the web at www.studentaid.ed.gov Molloy's Office of Financial Aid can assist students with questions on the impact to financial aid awards and the consequences of stopping attendance during the term. The last date a student attends is the beginning of the 6 months grace period for loan or in-school deferments before repayments must begin.