Section 7: Tuition and Financial Aid
7.1 Tuition Requirement
Full-Time program: MBA candidates must pay Full-Time tuition for four semesters. FlexTime program: MBA candidates must pay FlexTime tuition for 192 units.
Students receive degrees only after meeting all university financial obligations
7.2 Tuition Payments/Billing/Enrollment
The Student Accounts Office in the HUB creates electronic invoices (E-Bills) each month. Once E-Bills are created, a notification is sent to the student's Andrew e-mail account alerting the student that an electronic invoice is ready to view on Student Information Online (SIO) (www.cmu.edu/hub/sio). Enrollment is not complete until a student pays the amount due by the due date indicated on the electronic invoice. Past due accounts are subject to a 1.5% penalty charge each month until the balance is paid in full. Students with loans or pending financial aid must complete enrollment before the funds are credited to their account.
Students may view electronic invoices and check recent student account activity under the “Finances” section of Student Information Online at http://www.cmu.edu/hub/sio.
7.3 Students with Delinquent Accounts
Student accounts are administered by the Student Accounts Office in The HUB. In depth information may be found on their website, http://www.cmu.edu/hub/billing/index.html .
Students are responsible for paying their student account charges by the stated payment deadline. Please reference the current Student Financial Obligation Statement at http://www.cmu.edu/hub/billing/sfo/index.html.
7.4 Summer Tuition (Full-Time Students)
Full-Time MBA students may take courses during the summer between their first and second years. Students are responsible for summer tuition at the non-matriculating student per-unit rate, which is established each year in the spring.
Tuition paid for these courses is credited directly to the student’s account for the final semester of the second year in the MBA program. Students are advised to check with the Tepper School Financial Aid Office to understand future implications for financial aid eligibility.
Students who have not met the MBA requirements for graduation have until the end of the summer (mini 6) to complete them and are charged tuition at the “non-matriculating-time” student rate on a per unit basis.
7.5 Tuition Refund
The tuition is refunded 100% until the course drop deadline. After the course drop deadline, tuition is non-refundable and remains charged 100%.
Dismissal
Students dismissed at any time for unsatisfactory academic standings or infractions of regulations are not refunded tuition or related fees.
7.6 Tepper School Financial Aid Office
Financial Aid for MBA students is administered by the Tepper School Financial Aid Office in GSIA 226. Complete information about financial aid is listed on www.tepper.cmu.edu/gradaid. MBA students may also email tepper-aid@andrew.cmu.edu for more information about financial aid.
7.7 Loans
Eligible students may apply for education loans to pay tuition and allowable education-related costs. An international student must have a credit-worthy cosigner in order to borrow an education loan. See www.tepper.cmu.edu/gradaid or email the Tepper School Financial Aid Office at tepper-aid@andrew.cmu.edu to learn more about loan options. All federal loans and most non-federal loans require students to be enrolled for at least 18 units per semester and meet all other qualifying factors.
7.8 Satisfactory Academic Progress for Financial Aid (SAP)
Financial aid recipients are required to maintain satisfactory academic progress in their course of study for continued eligibility. Students are required to complete 75% of their attempted courses each semester, maintain the minimum cumulative grade point average as required by their program of study, and complete their program of study within a maximum period of 1.5 times the standard program length in order to maintain financial aid eligibility. The complete
SAP policy may be found on our website, http://www.tepper.cmu.edu/current-students/current-graduate-students/financial-aid/consumer-information/index.aspx.
7.9 Federal Financial Aid Adjustments for Students Who Withdraw
Irrespective of tuition charges, when students withdraw, federal financial aid is adjusted in the following order on a pro-rated basis as per federal regulations until 60% of the semester is completed.
Federal Direct Unsubsidized Loan
Federal Perkins Loan
Federal Direct Grad Plus Loan
Students who are withdrawing before 60% of the semester is completed are encouraged to visit the Tepper School Financial Aid Office in GSIA 226 to learn what portion of disbursed financial aid is unearned and must be returned to the lender. Financial Aid adjustment policy is listed on http://www.tepper.cmu.edu/current-students/current-graduate-students/financial-aid/student-account-billing-and-payment-information/index.aspx.
