Tuition and fee charges must be paid by the first day of each semester. All students who have applied for loans to meet their financial obligations must show proof of pending loans sufficient to meet the payment of tuition and fees on the due date. If tuition and fees are not paid in full, a late fee of $50 per week will be assessed until such time as all financial obligations are met.
If a loan has been approved but is still in process, or if the loan proceeds are not received by the registration due date, tuition and fee charges will be waived until the loan proceeds are received by LECOM. If a first time borrower at LECOM is denied a loan or has difficulty obtaining loans because of credit rating, LECOM will not waive tuition and fee charges while these matters are being resolved.
Loan funds will be disbursed to LECOM by electronic funds transfer or rarely, paper checks. All loan payments are made in two disbursements. Origination fees are deducted by the lender before disbursement. LECOM will apply all institutional charges to the loan proceeds, and any remaining loan proceeds will be refunded to the student.
Student loan refund checks will be available fourteen days (two weeks) after the start date of each semester, if the credit balance occurs on or before the start date of the semester. If the credit balance occurs after the start date of the semester, the refund check will be available no later than fourteen days after the credit balance occurs. (2014-15 Tentative Student Loan Disbursement and Refund Dates)
After the start of each semester the Bursar will email all students with the exact date, time and location of the refund check distribution. If you do not pick up your refund check at the designated date, time and location, your check will be mailed on the following business day to your current mailing address on record.
The first semester bill will include half of the annual tuition, all the fees, and the disability and health insurance premiums, if applicable, less any deposits. The second semester bill will include the second semester tuition, and if applicable, the second semester health insurance premium. If the disability insurance premium is not included in the first semester bill, then the disability insurance premium for the entire academic year will be included in the second semester bill. For additional information, refer to the LECOM website and/or the LECOM Academic Catalog and Student Handbook.
Your billing statements will be posted to the Portal. The statements will not be mailed to your current address on record. In order to view your statement, log on to the Portal and go to the Bursar's Office tab. There will be an option to view and print your account statement. Please note: your payment is due in full on the first day of each semester.
If you have any questions about the billing procedure, please contact the Bursar, Sue Williard, at 814-860-5150 or firstname.lastname@example.org.
Cancellation of Loan(s):
Students have the right to cancel all or part of their loans and have the proceeds returned to the lender. To cancel all or part of your loans, notify the Office of Financial Aid by written request no later than the first day of the semester. Cancellation of a loan may result in your owing LECOM for any outstanding charges.
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