Student Account and Billing Statements
Your Student Account
Charging your Bookstore Purchases to your Student Account
Billing
Paying in Installments
Late Payment Fees
Your Student Account
At the University of Minnesota, your "student account" is where your total charges and credits for tuition, fees, University housing charges, charges from other University offices, and any previously unpaid balances are recorded. Each time you register or cancel/add, your account is adjusted.
To view your student account online, for questions on billing charges, or for more detailed information on student finances, please visit the One Stop Student Home Page located at: http://www.onestop.umn.edu/onestop/index.html and click on "Student Account" (located under the "Quick Links" heading).
Charging your Bookstore Purchases to your Student Account
You can now use your U Card to charge bookstore purchases to your Student Account. If you are a U of M student, you already have a student account. Just bring your U Card and another photo ID to any of the Twin Cities U of M Bookstores and say "charge it". They will swipe your card just like a credit card and you will be billed by student accounts along with other tuition and fee charges.
Note: Be sure to save your receipt in case you need to return or exchange books. Return privileges are limited. Any returned books show up as a credit on your student account.
You must:
be a currently enrolled student at the U of M
have no financial holds on your student account
have a valid U Card and another photo ID
Billing
As of October 18, 2003, electronic billing became the official billing method used by the University of Minnesota.
All currently enrolled students will receive their billing statements electronically.
An e-mail notice that your student account bill is ready to be viewed will be sent to your University-assigned e-mail account approximately two weeks after the semester begins and monthly thereafter. Students not currently enrolled and Senior Citizen Education Program students will receive hard copy (paper) billing statements. All other students will receive electronic billing notifications only. If you believe your personal situation warrants an exemption from electronic billing, you may complete the Electronic Billing Exemption Appeal form available online at: http://process.umn.edu/groups/ppd/documents/form/fa943.pdf or from any One Stop Student Services Center. If your appeal is approved you will receive paper billing statements.
You are responsible for checking your U of M e-mail account for your electronic bill and for making your account payment(s) on time.
Your billing statement totals the amount due on your student account from any unpaid tuition and fee charges, University housing charges, charges from other University offices, and previously unpaid account balances. You may pay on your account at any time after your tuition has been calculated on your student account; however, your billing statement will show you the exact charges and credits applied to your account as of the date the bill was created.
The bill is static (a snapshot of your account at the time the bill was created) and does not reflect any changes that have occurred on your student account after that date, until the next month when a new bill is created.
Your billing statement will list both a new balance ("total amount due") and a "minimum payment due" and a due date. To avoid paying any late payment fees or installment plan charges you must pay in full by the first due date. Payments must be received by the due date to be considered on time.
Paying in Installments
The University of Minnesota offers a three-payment, installment plan for fall and spring semesters. The installment plan is not available over the summer.
You can elect to pay by installments simply by paying at least the minimum amount due listed on the bill by the due date. If you pay by installments, you will be charged a $35 installment/re-billing fee per semester and it will be added to your balance on the next bill. No application form is required to sign up for the installment plan.
If you pay less than the "Total Amount due" by the due date, it is assumed that you will be paying by installments and therefore, you will be placed on the installment payment plan and be charged the one time per semester $35 installment/re-billing fee, which will be added to the balance due on your next billing statement.
The minimum payment due is a percentage of your current term account balance and current monthly charges as of the billing date, plus 100% of any previous unpaid balance.
Generally, the installments amounts due are as follows:
| First Installment |
33% of your total due |
| Second Installment |
50% of your total due |
| Third (final) Installment |
100% of the remaining balance due |
However, you need to be aware that some charges are not eligible for the installment plan. Balances or transactions from previous terms are always due and ineligible for the plan. Any payments that you make will always be applied to the oldest charge on your account.
Paying more than the minimum payment due on your statements or paying before you receive your statements does not reduce the percentage required on your next billing statement-you are required to pay the standard percentage of the balance.
Here’s an example:
You estimate your current term account balance will be $2000 and you decide to make a $200 payment before the first bill is created.
Assuming there are no other changes or charges to your account by the time the first bill is created, the bill would indicate the following:
| 1st bill: |
The total amount due would be $1800 ($2000-$200 payment)
The minimum amount due would be $594 (33% of $1800).
(Note: You would still be required to pay 33% of the remaining balance by that first due date.) |
Following the scenario indicated above, if there were no other changes or charges to your account and you did pay the minimum amount due of $594 so that it was received by the first due date (on time), the remaining bills would be:
| 2nd bill: |
The total amount due would be $1241 ($1800-$594+$35 installment fee)
The minimum amount due would be $620.50 (50% of the $1241 balance) |
| 3rd bill: |
Assuming the minimum amount due from the second bill was paid on time and there were no other changes or charges to your account-
The total amount due would be $620.50
The minimum amount due would be $620.50 (100% of the remaining balance is due in full) |
Again, be aware that some charges are not eligible for the installment plan and would be due in full on the bill. Balances or transactions from previous terms are always due and ineligible for the plan. Any payments that you make will always be applied to the oldest charges on your account.
Late Payment Fees
Payments must be received by the due date in order to be considered "on time." Any payments received after the due date, are subject to a $30 late payment fee. The $30 late payment fee would be added on to the balance on your next bill.
If paying by mail, it is important to allow sufficient time for the payment to be received by the due date. The payment must be received by the due date (not postmarked by the due date) in order to be considered "on time" and avoid late payment fees.
Any time you pay less than the "minimum amount due" by the due date, you will also be assessed a $30 late payment fee on your next billing statement.
To view your student account online, for questions on billing charges, or for more detailed information on student finances, please visit the One Stop Student Home Page located at: http://www.onestop.umn.edu/onestop/index.html and click on "Student Account" (located under the "Quick Links" heading).
|
Return
to: U of M Home
