Methods of Payment
- A student is required to pay an enrollment deposit of $200 when applying for admission. The enrollment deposit is applied to the student's account and will be refunded if the application for admission is not approved or if a refund is requested before May 1.
- All charges are due and payable at the time of registration at the beginning of each semester or term. Checks should be made payable to Olivet Nazarene University. It is helpful if the student ID number is on the check. An itemized statement will be sent to the student’s home address unless the student directs otherwise.
- Where financial aid has been awarded, the percentage of down payment and payment of balance is calculated after deducting such awards. College work-study is not deducted, since it must be earned by hourly work. Acceptable methods of payment are as follows:
- Payment in full.
- 33 percent down when registration is finalized, 33 percent within 30 days, and the balance within 60 days following registration. Interest will be charged according to the statements below.
- For students and parents desiring to pay educational expenses in monthly installments, a low cost deferred payment plan is available. Contact the Office of Student Accounts at Olivet for more information.
- Any financial arrangements between the University and its students will be binding only if such agreement is in printed or written form. Any arrangements concerning finances should be made with the Office of Student Accounts only.
- A 1.5 percent interest charge is added each monthly billing period to the balance at the beginning of the billing period, less any payments during the month. The cutoff for each billing period is usually around the 25th of the month, but may vary. Interest on the unpaid balance will be charged from the day of registration. (If the balance is to be paid by a federal or state grant, interest will be reversed when the federal or state grant check is received at Olivet.) No one may participate in graduation, no degree will be conferred, nor credits transferred, until all accounts are paid in full. When clearing a student account for graduation or to receive a transcript, payment must be made by cashier’s check, certified check, credit card, or personal money order if immediate clearance is needed. If payment is made by personal check, a waiting period of 15 days is necessary for the check to clear the bank. Any student who has become delinquent through failure to make payment or proper arrangements may be disenrolled until such matters are satisfactorily taken care of with the Office of Students Accounts.
- Books and supplies must be paid for at the bookstore. The University accepts Visa, MasterCard, and Discover Card.
- For further information concerning payment of student accounts, contact the Office of Student Accounts in Miller Business Center, (815) 939-5245.