Costs & Payment
Tuition & fees
Billing schedules & information
TMS-monthly payment option
Outside Tuition Remission
Release of financial information
Withdrawals, Leaves, Refunds & Refund policy
Student tuition insurance
Student health insurance
Campus based loans
The first billing for Fall semester is mailed the first week of July; for Spring semester, it is sent the first week of December.
Tuition, fees, room and board, minus approved financial aid awards and established Monthly Payment Option credits, are due by August 16, 2013 for Fall, and January 10, 2014 for Spring. Please see the Business Office Mailer that was sent to all continuing students in May for further information.
A late fee of $50 will be charged on all accounts not paid by the registration day for each semester: August 29, 2013 for Fall, and January 24, 2014 for Spring. Payments postmarked by these dates do not meet the payment deadlines; they must be received in the Business Office by these dates. You should allow at least 7-10 days mailing time.
No registration will be accepted after the Friday of the first week of classes each semester: September 6, 2013 for Fall; February 7, 2014 for Spring.
The Billing Information & Release Form authorizes release of financial information regarding a student's tuition account to people the student specifies. Complete this form online in IRIS, or print out, fill in, and return to the Business Office either in person, or by fax to 503/788-6687.
Payment on student accounts may be made by check, money order, cash (if paying in person), wire transfer, credit card, or direct deduction from checking or savings account (via TMS). Tuition and direct education expenses may be paid through a monthly payment plan. Please be sure to reference the student's Reed ID # on your payment. On the student billing statement, the ID# can be found on the left side of the page, directly above the name and address area.
- Payment may be made in person at the Cashier's window in the Business Office, located in Eliot Hall. The Cashier's window is open Monday through Friday, from 10 a.m. to 4 p.m..
- The College will accept checks drawn on all U.S. banks in payment of outstanding bills and will cash personal checks up to $25 for students. Checks on foreign banks must be denominated in U.S. dollars and must have account encoding numbers on the bottom of the check. If checks do not meet these requirements, a delay during registration may result. Checks returned for non-sufficient funds will incur a $15 returned check fee.
- If you wish to pay the student's bill by bank wire transfer directly to the College, for domestic wires please contact the Business Office at 503/777-7505.
- For international wire transfers, peerTransfer is a free service available that offers better exchange rates and lower bank fees than your own bank. Save time and money when paying your tuition from international locations via peerTransfer.
- You may pay online using the Pay Your Account Online button on the Business Office home page. This service is provided through Tuition Management Systems' Pay in Full program. There is a variable convenience fee of 2.99% for this service for credit card payments.
Reed College offers a Monthly Payment Option for students/parents who wish to pay their costs in monthly payments. This plan is administered by Tuition Management Systems. The only cost to you is an $80 non-refundable application fee for annual plans, or $55 for semester plans; there are no interest charges. A $50 late fee will be applied each time a monthly payment is received after the due date. Accounts more than 60 days delinquent may be closed by the college. Typically, payments begin in July and end in April for annual plans, and the amount you owe for the year is spread equally over this 10-month period. Fall semester only plans begin in July and end in November. Spring semester only plans begin in December and end in April. Semester only plans are spread over a 5-month period. Special needs may also be accommodated.
Tuition Management Systems (TMS) does not have access to the student's account information at Reed College. When you contract to pay through TMS, they will set the plan up for any amount that you request. They will not automatically know if the student's financial aid package changes, or if there is any change to the student's billing. To enroll, call Tuition Management Systems at 1-800-722-4867 or enroll on their website, reed.afford.com.
Upon enrollment, you will receive separate monthly statements from Reed College and TMS:
- The statement you receive from Reed College will list tuition, fees, room and board, financial aid credits, miscellaneous charges and credits, and credit for the semester amount you have contracted to pay through TMS. Even if you have arranged to use TMS to pay all of tuition, fees, room and board, if the student incurs additional charges during the semester, you will receive a bill for those charges from Reed College. This statement will also reflect any changes to financial aid referenced above.
- The statement from TMS will be for the monthly amount you have set up to pay to them.
If tuition will be paid in part or in full by tuition remission or a similar benefit from an outside institution, and Reed College is provided with verification, the credit will be applied as “an anticipated credit” and the tuition amount due will be reduced. Typically, the parent first must complete an application with their employer and must also provide them with a copy of our bill. If Reed College is required to also submit documentation, the Business Office will do so upon notification. You may contact us at 503/777-7505, or email@example.com or fax 503/788-6687.
We hope that you and your parents will discuss strategies for sharing financial information before you come to Reed. As part of that discussion, you and your parents need to choose where your bills should be mailed and to whom access to your financial records should be allowed. A Billing Information & Release Form must be completed online each year so we know to whom the bill should be sent. Students must complete this authorization in order for the Business Office staff to release detailed information about a student's financial account to parents, family members, trustees or banks. We will not be able to release specific information over the phone or in writing to anyone who is not authorized in writing by the student. Complete this form online in IRIS under Students.
The college makes commitments to the faculty and staff in advance of the school year based on anticipated student enrollment. These commitments are not subject to change, even though the number of students may vary. For this reason, no deviations from the refund schedule will be made except in cases of extreme hardship, of which the college shall be the sole judge. The Administration Committee may, upon recommendation of the dean of student services, approve petitions for such exceptions.
Reed College’s refund policy is based in part on the fact that it is an institution with a semester-based program, and instructors are not required to take attendance. The refund policy applies to all undergraduate students who withdraw, take a regular leave of absence, or take a medical leave of absence, and to all graduate students who withdraw or drop courses during a semester, whether or not they have federal Title IV financial aid, except as noted in the section below. Official notification of intent to withdraw must be provided to the student services office. Students must speak with one of the deans about their intent to withdraw or take a regular or medical leave of absence. When the decision has been confirmed, the dean, associate dean, or assistant dean will sign and date the appropriate form and have the student sign and date the form. The effective withdrawal (leave) date will be determined by the Registrar's office.
The refund of tuition and room and board is based on the percentage of payment period completed by the student. The effective withdrawal or leave date presented above determines the specific period of completion. No refunds of or adjustments to the student body fee are made. Health insurance coverage will be canceled and refunded only if the leave takes place within the first thirty days of the semester. Non-federal Title IV financial aid, including but not limited to Reed grants, outside scholarships, and state grants with no federally matched funds, will be refunded according to this refund percentage. Credit balances under $10 will not be refunded.
If your student account has a credit balance, you may be entitled to a refund. Refunds are only issued on actual credits, not anticipated credits. If the credit balance results from Federal Title IV aid such as Direct subsidized or unsubsidized loans, Perkins loans, Pell grants, or SEOG’s, a refund check will automatically be issued to the student. If the credit balance results from a Direct PLUS loan, a refund check will automatically be issued to the parent who took out the loan. Parents can also authorize the college to issue the check to the student if they complete a written authorization. If the credit balance is a combination of the two, the refund check will be prorated to both student and parent based on the percentage of Direct PLUS loan versus student aid.
All or a portion of the credit balance can also be held on the student account for the fall and spring semesters if we receive written authorization to hold the funds by either the student for aid referenced above, or by the parent for Direct PLUS loans. All refund or hold authorizations must be received in the Business Office by the first day of classes.
Bookstore charges are billed separately by the bookstore on a monthly basis. If you have a credit balance on the Business Office account, you may also complete an authorization to use some or all of this credit balance to meet specified bookstore balances.If you have a Tuition Management Systems (TMS) payment plan and your financial aid credits result in an overpayment, the excess funds will be refunded to the student or the parent unless we receive written authorization informing us that you wish to reduce your TMS payments instead. This form is not needed to reduce your TMS payments if you call the College prior to the first day of classes.
Refunds to students are usually held at the Cashier's window for pickup. A picture ID (Reed ID card or driver's license) is required for the student to pick up the check. Refund checks will not be delivered to the student's on-campus mailbox. If the refund is payable to the parent, it will be mailed to the address on file.
Reed College students are eligible to participate in the Tuition Refund Plan offered by A.W.G. Dewar, Inc. This insurance enhances the College's refund policy for students who take a medical leave of absence. A brochure is mailed to all matriculating and continuing students in June, or you may contact the Business Office (after July 1) to have one sent to you. You may obtain more information and enroll online at Dewar, or download claim forms here. If you have specific questions regarding the coverage, please call Dewar at 617/774-1555.
All students must be covered by health insurance and will be charged for one of the college’s plans. Our current health insurance provider is Aetna Student Health, brokered through USI NW. The policies are comprehensive major medical plans. If you have questions regarding the coverage, please call USI at 800/251-4246. You may also find participating providers and pharmacies at the Aetna Student Health website.
Students who are non-resident aliens will be covered by the international student insurance plan. View a schedule of benefits (PDF file). All other students, including those participating in faculty-approved off campus study, will be covered by the domestic student insurance plan. View a schedule of benefits (PDF file).
MALS students also have the opportunity to enroll in an insurance plan. View a schedule of benefits (PDF file) for further information.
Every undergraduate student will be automatically charged for the appropriate health plan. If you have your own comparable coverage and do not want the Reed plan, you must waive the insurance online through IRIS under Student Forms. Waivers must be completed every year of attendance. Once this waiver has been completed, we will cancel the charge for the college’s plan. All waivers must be completed prior to the first day of classes.
You can view the complete brochures and FAQ below for additional information.
Undergrad Health Insurance brochure (PDF)
MALS Health Insurance brochure (PDF)
International Student Health Insurance brochure (PDF)
Health Insurance FAQ (PDF)
Health Insurance Waiver (PDF)
The Business Office staff can answer any questions you may have about your student account. Please call 503/777-7505, email firstname.lastname@example.org, or stop by Eliot 308.
Campus based loans are owned and administered by Reed College. They include Perkins loans, Reed loans, and computer loans. If you take a leave, withdraw, or graduate you should note that campus based loans are serviced by ACS Educational Services, an outside billing company, so you will receive bills from ACS, not Reed. If you have questions or need more information about campus based loans please call 503/777-7505, email email@example.com, or stop by Eliot 308.