Mars Hill College’s Business Office bills one semester at a time, prior to the beginning of each semester. Full payment of your balance for the semester (charges not covered by financial aid) is expected at that time. Looking for ways to pay your balance? Visit the Borrowing section to learn more.
All financial aid is awarded on a yearly basis; however, payment (or disbursement) of aid occurs twice each year: one disbursement in the fall and one disbursement in the spring.
Funds will be disbursed to your account in the amounts shown on your Award Letter with the possible exceptions:
Federal Subsidized and Unsubsidized Stafford Loans and Federal Parent Loan for Undergraduate Students (PLUS). The lender may deduct up to 3% in fees from the amounts shown on the award letter. The amount on the award is the actual amount you will be eligible to borrow. The lender you choose will determine if your loan is approved. The lender will send you a disclosure statement that indicates the actual amount being disbursed and the date of disbursal.
The preferred method of disbursal is electronic funds transfer (EFT) for both Stafford and PLUS loans. If a check is issued for a PLUS loan, the parent borrower must sign the check and return it to the Financial Aid Office at Mars Hill College.
If Federal Work-Study is part of your award offer, please be aware that the amount listed is a maximum earning level or the maximum you will be paid for employment in this program.
Financial aid funds are awarded with the expectation that students will complete the entire period of enrollment. Students "earn a percentage" of the funds that are disbursed with each day of class attendance. Federal regulations require Mars Hill College to calculate the percentage and amount of "unearned" financial aid funds that must be returned when a student withdraws.
Once a student has completed more than 60% of the enrollment period, he/she is considered to have earned all funding received. This calculation may result in requiring the student who withdraws before completing more than 60% of the enrollment period to repay funds that have already been disbursed to the student or credited to his/her account for tuition, fees, room, and board. Students are encouraged to meet with their Financial Aid Counselor prior to making the decision to withdraw.
|Withdrawals during the first week of classes||Date TBA||20%|
|Withdrawals during the second week of classes||Date TBA||40%|
|Withdrawals during the third week of classes||Date TBA||60%|
|Withdrawals during the fourth week of classes||Date TBA||80%|
The Mars Hill College Business Office offers a payment plan option through College Foundation of North Carolina. No interest charges are involved, only an annual enrollment fee. For more information about this option, contact our Student Account Manager by email or by calling 828-689-1240.
Late Payment Fee
A 9% APR late payment fee is applied to balances owed to Mars Hill College after October 1 for the Fall Semester, and after February 15 for the Spring Semester each academic year.