Financing a college education is one of the most important investments a family will ever make. At Monmouth University we will work with you to establish a financial partnership and develop options that will make Monmouth a reality for your student.
How does the billing process work? When are payments due?
After students complete registration, and prior to each semester, you will receive a bill with a due date. The fall semester bill is due in early August, and the spring semester bill is due in early December. If for some reason you do not receive a bill, you should call the Office of the Bursar to make payment arrangements. Students can view their account at WEBAdvisor
How can students pay their bill? Is it necessary to return the bill if there is a zero balance?
If your bill confirms that you do not owe anything, you do not need to return the bill. However, if the bill reflects an amount due, please return payment and/or comment with documentation of other funding (e.g., payment plan, outside scholarship).
Payments can be made by going to www.monmouth.edu/payment and choosing Electronic Payment Gateway. You also have the option of paying in person at the cashier’s office, or calling the cashier’s office at 732-571-7540 with your credit card information.
If my student needs to withdraw from the University during the academic year, will tuition be refunded?
Tuition, fees, and room and board will be refunded in accordance with the University refund policy, found in the undergraduate catalog, the student handbook, or online at. Students who withdraw from the University and who receive financial aid are also subject to federal refund policies, which may require that all or a portion of the student’s financial aid be returned to the appropriate aid program. It is important that students familiarize themselves with the University’s withdrawal and refund policy prior to making changes to their schedule.
Are there deferred tuition plans?
Monmouth University offers a monthly tuition payment plan through Tuition Management Systems (TMS). Information about the plan is available through our online Welcome Center, from the University Bursar, or on the Tuition Management Systems Web site.
Where can information on financial aid and scholarships be found?
The Financial Aid Office provides information, applications, and counseling related to all types of financial assistance. The office is located on the first floor of Wilson Hall, room 108, and is open from 8:45 a.m. to 5 p.m. Monday through Friday. You may reach the financial aid staff by phone at 732-571-3463 or via e-mail at email@example.com. Click here to visit the Financial Aid Office Web site. Follow us on Twitter and like us on Facebook to get more information on the financial aid process, scholarship opportunities, deadlines, reminders, and much more!
What scholarships and grants are available?
The primary source of scholarship assistance comes from the University’s academic grant and scholarship program. Awards are made to incoming first-year and transfer students by the Office of Undergraduate Admission and are based upon a review of the student’s academic record and SAT or ACT scores. (Test score requirement does not apply for transfer students.) Additionally, the University offers a limited amount of funding based on financial need, as determined by completing the Free Application for Federal Student Aid (FAFSA). A small number of endowed and sponsored scholarships are also available as the result of the generosity of donors to the University. The Financial Aid Office awards those scholarships to students who most closely meet eligibility criteria established by the donor; there is no separate application process. Monmouth University also participates in all federal and New Jersey aid programs. Detailed descriptions of all scholarship and grant opportunities for Monmouth students are available in the undergraduate catalog and on the Financial Aid Web page of the University’s Web site. Students are also encouraged to research scholarships and grants available from outside, private sources. They may do so either using an Internet search engine, such as www.fastweb.com, or by reviewing information compiled and maintained on the Financial Aid Office Web site.
How is financial aid credited to a student’s account?
Once the Financial Aid Office has confirmed that the student meets the eligibility criteria (e.g., registration status, housing status, federal and state verification criteria, signed promissory notes, etc.) upon which each award is based, the funds will be electronically posted to the student’s account. Generally, funds are credited approximately two weeks after the beginning of the semester. Note that Federal Work-Study awards are not applied to a student’s account since awardees are paid on an hourly basis directly through the biweekly payroll system.
What types of loans are available?
Several types of low- or no-interest loans from a variety of sources are available to students and parents and will be suggested on the student’s financial aid award letter. Students may borrow through either the Direct Loan, Perkins, or alternative loan programs, while parents may borrow through the federal PLUS (Parent Loan for Undergraduate Students) or alternative loan programs. Detailed information regarding these funding sources is available in the undergraduate catalog and on the University’s financial aid Web site.
Monmouth University will create or mail promissory notes for the Perkins and Direct loans suggested in a student’s financial aid package; the student and/or parents do not need to independently seek out lenders and loan applications. Typically, promissory notes will be mailed to students during the months of July and August. Alternative or PLUS loan borrowers will complete an online application process.
Must an aid application be filed every year?
Yes. Students are required to file a FAFSA each year for both need-based programs and non-need-based loans. Renewal notices are sent by the University and government agencies late in the calendar year. Applications cannot be filed prior to January 1 for the next fall semester. Students who receive the TAG grant must reapply before June 1 each year.
Will financial aid be renewed?
Renewal of aid is contingent upon satisfactory academic progress; for most types of aid, current students must maintain a minimum 2.0 cumulative GPA and complete a minimum of 67 percent of the courses they attempt. A minimum 3.0 cumulative GPA is required for academic scholarship renewal, and a minimum 2.5 GPA is required for academic grants. A detailed description of the satisfactory academic progress policy is available in the undergraduate catalog and on the financial aid Web site.
Where can a student find out about Federal Work-Study?
As part of their need-based awards, many students are offered Federal Work-Study jobs. Awardees are encouraged to seek on- and off-campus job placement early in the semester through the University Student Employment Office. In addition, Career Services assists students in finding regular part-time jobs off campus.
Is there a place to do banking on campus?
A specialty branch of Santander is located on campus in the Student Center. It is currently open to set up bank accounts on Monday through Friday from 10 a.m. to 3 p.m. Once the student has an account, he or she should use the on-campus ATM to make deposits.
Students with accounts at other banks may use the on-campus Santander ATM for a per-transaction fee of $2.00. Santander customers pay no fee. There is a full-services ATM available in the Student Center and a cash-disbursing ATM in the Multipurpose Activity Center (MAC).
There are also several nearby banking options for Monmouth students. The Office of Student Life will be happy to provide students with information and directions to these banks.
Can students cash checks on campus?
Yes. Resident students may cash a check for up to $40 per day in the University store. Checks must be payable to “Monmouth University.” No two-party checks are accepted. Hours are Monday through Friday from 10 a.m. to 3 p.m. The University store suspends its check-cashing service the first seven to 10 days of each semester.
Additionally, there is a full-services ATM available in the Student Center and a cash-disbursing ATM in the Multipurpose Activity Center (MAC). Those wishing to open a Sovereign/Santander bank account may do so at the Sovereign/Santander specialty branch located on the first floor of the Student Center.