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Bursar's Office

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Headlines for the Week of August 22, 2011

Do you have IIT's health insurance?

Did you know that without your authorization, your loans will not automatically cover your health insurance fee? This means you could receive a refund and still owe IIT money. To avoid that situation, you must complete a Title IV Authorization Form authorizing us to apply your loans to "Non-Institutional" charges.

If you do not complete a Title IV Authorization Form, you will be expected to pay your health insurance fee out of pocket by the due date, August 22. If you do complete the Title IV Authorization Form, your health insurance fee will be automatically paid with your loan money and you will be refunded any remainder per the normal process.

The timing of your refund will not be affected by this decision. Completing the Title IV Authorization Form will simply ensure that you do not have outstanding debts to the university after receiving your refund. All outstanding debts will result in the placement of a registration hold and the subsequent assessment of late fees.

You can complete the Title IV Authorization Form online through your myIIT Portal Finances tab by clicking on Title IV Authorization Form in the Bursar's Office channel. Check the Non-Institutional Charge Authorization box and submit.

Tuition due date

Tuition and fees less any anticipated financial aid awards are due in full by the first day of classes each semester unless a student is enrolled in a payment plan. Please remember that failure to comply with this due date will result in a 2 percent monthly late fee and will prohibit registration for subsequent semesters. Additional information regarding IIT's payment policy can be found on our website at http://iit.edu/bursar/payment_policies.shtml.

Welcome, newly admitted students!

With all the new things to learn, we want to make it as easy as possible for you to navigate your student account. Follow along on the New Student Checklist to be sure that you are prepared for the upcoming fall semester!

Payment plans for the fall semester

Tuition is due on the first day of class each semester, unless you enroll in a payment plan. You can begin enrolling in a payment plan as early as July 1, 2011, for your fall 2011 tuition. You can self-enroll in payment plans through the myIIT portal Finances tab by following the "Manage My Student Account" link. The deadline to enroll in a payment plan for the fall 2011 semester is August 22, 2011. Late enrollment in a payment plan will not be allowed. For more information visit our website at www.iit.edu/bursar/payment_plans.shtml.

Tuition refund disbursement

The primary way to receive your financial aid refund is through direct deposit. You can enroll in direct deposit through your myIIT portal by following the Manage My Student Account link on the Finances tab. For more information on enrolling in direct deposit, or our refund policy, please visit our website: www.iit.edu/bursar.

How to receive your Perkins Loan

In order to receive your loan, you will have to complete paperwork, including a Master Promissory Note and Entrance Interview with ECSI, our institutional loan processor. To initiate this process, accept the award on the Finances tab of your myIIT portal as usual. You will be contacted by ECSI via e-mail with information on completing required paperwork. If you do not receive e-mail communication to your @kentlaw e-mail address, please check your @iit e-mail address on the welcome screen of your myIIT portal, as communications could be sent there.

If you have questions about your institutional loans, you can contact ECSI at 888.549.3274 or webcservice@ecsi.net. Please allow several days after accepting your award on the myIIT portal before contacting ESCI to ensure they have your information on file.

 

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