Ø       Billing Information
Ø       Payment Options
Ø       Online Credit Card Payment
Ø       Required Forms
Ø       Hope Schp & Learning Credit
Ø       IRS Form: 1098-T Tuition Statement
Ø       MAJOR BUCKS Debit Card

I   Billing Information

Student account statements are mailed each month to the student's permanent address.  Students may authorize an additional billing address if there is more than one financial sponsor. 

Actual pre-semester billing statements are mailed prior to the start of each term for students who have participated in pre-registration. Fall semester statements will be mailed in June and July. Spring semester statements will be mailed in November and December. Please use the semester statements and refer to Payment Options to determine the best payment method for you.  Please review your statement carefully. If you find any errors or omissions on your billing statement, or if you make changes in your schedule or housing assignment, please contact the Business Office at (601) 974-1100. The following are items that should be considered when reviewing your statements each term.

• HOUSING charges should be checked on the billing statement. If the hall indicated is not where you plan to live, please inform the Business Office immediately. A meal plan is required for all students living on campus.
  • Once a student takes possession of a dorm room, no refund of the room rate will be allowed. Refer to page 16-18 in the Millsaps College Catalog or http://www.millsaps.edu/records/catalog/2006-2007.pdf.
• FINANCIAL AID is based on assistance awarded to the student.
  • If your financial aid is based on full-time enrollment and/or living on campus, the charges on the billing statement must reflect the same. If they do not, your financial awards may be reduced or eliminated.
  • All loan applications should have been previously submitted to the Office of Financial Aid. F-PLUS Parent Loans and all non-federal loans, including Nellie Mae, Sallie Mae, CitiBank and Wells Fargo Alternative Loans, must be guaranteed as of registration date to be included as part of your payment.
  • If you have an Alternative Loan from another lender, you must provide a copy of your Loan Disclosure Statement in order for this loan to be considered as part of your payment.
  • All documents required by the Office of Financial Aid must be submitted in order for your financial awards to be finalized. Financial awards shown on pre-semester statements are subject to change or could be eliminated if you do not submit all required documentation as requested by the Office of Financial Aid. For more information on financial awards, visit the Office of Financial Aid at http://www.millsaps.edu/finaid/.
• REFUNDS: If requested, refunds will be issued 10 business days after the first day of class each term or after all financial awards and loan proceeds are received and posted to the student account. Loans for new students will not be received at the beginning of the semester; therefore, their refunds will be processed after receipt of loan funds.
  • Loans for new students will be received around the end of September for the fall term.
  • Loans for new students during the spring and summer semesters will be received in two disbursements with the second disbursement received around mid-term.
  • New Students: Please plan to receive your refund according to this information.
• INSURANCE: All full time students are required to have health insurance coverage. Millsaps College is pleased to offer a student health insurance policy to all students. Insurance for the 2007-2008 year is underwritten by Monumental Life Insurance Company. More information can be found at www.BollingerInsurance.com/Millsaps. Students who can demonstrate adequate outside coverage may waive the insurance plan provided by the College by completing the insurance waiver section of the Student Authorization form.
  • If this information is not received you will automatically be enrolled in this policy and the premium will be charged to your student account.
  • This policy does not cover students while participating in SCAC/College sponsored sports. Additional coverage is required. (This restriction does not apply to intramural sports.)
• BOOKSTORE VOUCHERS: Students with a credit balance shown on the pre-semester billing statement may request a bookstore voucher to be used in the Millsaps Bookstore to purchase textbooks and supplies. If you qualify and would like to request a voucher during registration, please go to the main hall on the 1st floor of the Academic Complex. There will be signs directing you to the correct office. Bookstore vouchers will not be issued prior to registration. Please refer to Required Forms for specific information to obtain vouchers.
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II   Payment Options

Payment arrangements must be made prior to registration each term.  For detailed information on a plan, click on the payment plan name listed below.

Ø       Millsaps Plan:  Many of our families find the Millsaps Plan to be an excellent resource in managing the payment of annual tuition and fees on a monthly basis. The Millsaps Plan is a ten month, interest free plan to cover these expenses.
Ø       Deferred Plan:  Allows the flexibility of dividing the balance due for the current semester into two payments.  There is an administrative charge of $50 per semester. 
Ø       Payment in Full: by semester or for the academic year.
Ø       Summer School: Payment in Full is required for all summer semesters.

Online Credit Card Payment allows you to make a payment online. Be sure to give the address and zip code for the credit card holder. This may be different from the home address.
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III  Required Forms

All students are required to submit the following forms upon admission to Millsaps College. The information submitted will be held on file in the Business Office and referenced as needed. These forms will remain in effect until a written statement revising or rescinding the listed information is submitted to the Business Office. Each spring, during pre-registration for the upcoming fall semester, students will be provided a copy of the information currently on file and may use this opportunity to make needed revisions. For information on specific forms, please refer to the Required Forms webpage.

Ø       Statement of Financial Responsibility
Ø       Student Authorization
Ø       F-PLUS: Federal Parent Loan Authorization (Required only for students with this loan awarded in their financial aid package.)
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IV  HOPE Scholarship and Lifetime Learning Credit

The Hope Scholarship is a tax credit, not a scholarship. Tax credits are subtracted from the tax your family owes, instead of from taxable income like a tax deduction. Your family must file a federal tax return and owe taxes to get this tax credit. You cannot get a refund for the Hope credit if your family doesn't pay taxes. If your family owes less in taxes than the maximum amount of the Hope tax credit for which your family is eligible, you can only take the credit for the amount you owe in taxes.
Your family may claim a tax credit up to $1,500 for each eligible dependent for up to two tax years. The Hope credit is available only until the first two years of postsecondary education are complete.

The exact amount of the Hope credit depends on your family's income, the amount of qualified tuition and fees paid, and the amount of certain scholarships and allowances subtracted from tuition. The total credit is also based on how many eligible dependents are in your family, rather than a maximum dollar amount for the family, like the Lifetime Learning tax credit. For more information click here: http://www.nasfaa.org/AnnualPubs/TaxBenefitsGuide.html.
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The Lifetime Learning Tax Credit is a tax credit available to individuals who file a tax return and owe taxes. This means the amount of the credit is subtracted from the taxes your family owes, rather than reducing taxable income like a tax deduction does. You cannot get a refund for the Lifetime Learning credit if your family doesn't pay taxes. If your family owes less in taxes than the maximum amount of the Lifetime Learning tax credit for which your family is eligible, you can only take the credit for the amount you owe in taxes. For more information click here: http://www.nasfaa.org/AnnualPubs/TaxBenefitsGuide.html.
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V   IRS Form 1098-T: Tuition Information Statement

The Taxpayers Relief Act requires Millsaps College to file a form 1098-T, Tuition Statement, with the IRS and to provide a copy to each student. It is recommended that all taxpayers consult with their tax advisor, as each individual's tax situation is different. For additional information, refer to the IRS Publication 970, Tax Benefits for Higher Education. For other assistance regarding tax related questions visit www.irs.gov or call 1-800-TAXFORM.

Form 1098-T Tuition Information Statements will be mailed on January 31 each year.
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VI         MAJOR BUCKS Debit Card

We are excited to provide a student debit card for use on Millsaps Campus. Please refer to the Major Bucks link to see detailed information regarding debit card access.
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It is our goal to assist you in any way we can. If you have questions concerning your student account, please contact the Business Office at 601-974-1100 or 1-800-352-1050 ext. 1100.