Student Accounts

i. Payments

Payments may be remitted in the form of personal check, cashier’s check, money order, or credit card (Visa, MasterCard, or American Express only). All credit card payments will include a 2.5% processing fee, and must include the cardholder’s name, address, telephone number and signature. Cash payments of $100 or less are also accepted. Payments may be mailed to the following address:

Office of Student Accounts
Corcoran College of Art + Design
500 Seventeenth Street NW
Washington, DC 20006

Any check returned due to insufficient funds, stop payment, closed account or any other reason will be assigned a $50 returned check fee. Any credit card payment that is declined will be assigned a $25 fee.

ii. Payment Plan Option

Students have the option to enroll in Sallie Mae’s TuitionPay monthly payment plan to pay their semester tuition and housing costs only. Students must pay all other fees to include the general fee, housing damage deposit, and graduation fees directly to the Office of Student Accounts. More information on TuitionPay enrollment is available at www.tuitionpay.salliemae.com.

iii. Past Due Accounts

Students with an outstanding balance will be charged a late payment fee of 2.5% of the balance at the time it is past due, with a minimum fee of $100. For accounts that are 30 days past due and beyond, they are subject to administrative actions. Administrative actions include the inability to access official transcripts, the inability to register for the following semester’s courses, and/or financial withdrawal from the current term. If financially withdrawn, the student will be responsible for financial charges according to the refund schedule.

Graduating students should note that official academic transcripts and diplomas will not be released until all outstanding tuition and fees are paid in full. Students with delinquent balances may petition to walk at graduation, pending the provost’s approval (see Graduation Requirements section for policies specifically related to graduating students with balances).

iv. Outside Collections Agency Policy

If internal collection efforts have been unsuccessful at any point in time, the student’s account will be referred to an outside collection agency at which time, the student will become responsible for the principal balance due to the Corcoran, as well as additional fees charged by the outside collections agency. Collections fees are 25–35% of the principal balance. Additionally, the student will be responsible for any incurred legal fees and court costs. Once a balance has been placed with an outside collections agency, the student and/or parent(s) will have their credit reported.

v. Course Drop/Withdrawal Refund Policy

Student refunds are prorated based on the effective drop or withdrawal date, as determined by the Office of the Registrar, and the schedule that follows. Tuition and fees are not transferable to another academic term, nor are they reduced due to absence from class (approved or otherwise).

When a financial aid recipient withdraws from the college, the Corcoran must calculate the amount of federal financial aid earned by the student based on the withdrawal date. If the amount of federal funds disbursed to the student is more than the amount earned, the difference will be returned to the Title IV programs. Corcoran’s tuition refund policy is separate from the federal requirement to return unearned aid. If the amount returned on the student’s behalf is greater than the amount he/she would receive under the College’s refund policy, the student is responsible for immediate payment of the difference.

It is important for students to fully understand the financial consequences of their decision to withdraw. Students should consult with Corcoran’s Office of Financial Aid and upon withdrawal, must complete their financial aid exit counseling session. Please note that refund, repayment and withdrawal policies are subject to change without notice in order to comply with administrative and regulatory requirements.

vi. Refund Schedule for Dropped Courses

Fall 2012 semester (First day of classes: August 29, 2012)

Spring 2013 Semester (First day of classes: January 23, 2013)

                 For the Summer 2013 refund schedule, please refer to the Corcoran’s website.

vii. Title IV Refunds

Once federal financial aid funds have been credited to a student’s account, if the amount of the funds exceeds allowable charges, a credit balance occurs and a refund will be generated within 14 days of the first day of classes. Corcoran reserves the right to disburse all institutional aid after the end of Add/Drop period as per academic calendar. If the credit balance occurs after the first day of classes, a refund will be generated within 14 days from that date.

viii. Tuition Benefits for Art Teachers

The Continuing Education tuition benefit for K-12 full-time art teachers does not apply to students who are enrolled in a degree program at the Corcoran.