Student Accounting Information

VMI Student Accounting
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Welcome to the VMI Student Accounting Office Home Page!

Current Information Tips

Spring 2003 tuition was increased by $200. This increase was included on the statements mailed 15 November 2002. All outstanding charges must be paid prior to pre-registration for the Spring semester. A hold will be placed on unpaid accounts and the Cadet will not be allowed to pre-register. Second semester bills were due 13 December 2002. VMI accepts Visa and Mastercard for payment of tuition and fees. If you wish to pay by credit card please call the Student Accounting Office.

Student Accounting Topics of Interest:

Contacting the Student Accounting Office
Tuition and Fee Schedules
Payment Information
Late Payment
Financial Aid
Direct Loan
ROTC and Supplemental Grants
Payment Plan
Refunds
Uniforms
Text Books
Check Cashing

Student Accounting policies and procedures are located in section 70000 of the Colleague Finance Departmental Manual.

Contacting the Student Accounting Office

Phone: (540) 464-7217		Email: stuacctng@vmi.edu


Hours: Monday - Friday		Mailing Address:
8:00 AM - 4:00 PM		Student Accounting Office
		Virginia Military Institute
		Lexington, Virginia 24450
Staff:
Major Sandra Manuel, Bursar
Sharon Ginger, Cashier
Jimmia Short, Student Accounting Clerk

Tuition and Fee Schedule
Tuition and Fees Schedule

Tuition/Fees Payment Due Dates:

	Due Date	Virginia Cadet	Non-Virginia Cadet
Pre-registration fee	31 March	$300	$300
First semester	1 August	$5,736	$11,646
Second semester	13 December	$5,836	$11,746

Payment Information
Payments may be made by cash, check, money order or credit card. Credit card payments may be made by filling out the form enclosed with the statement or by calling the Student Accounting Office at 540-464-7217. Checks/money orders should be made payable to "VMI Treasurer".

Payments should be mailed to:
Student Accounting Office
Virginia Military Institute
Lexington, Virginia 24450

Payments should be sent with a copy of the statement. If the payment amount is different from the statement amount an explanation and a copy of any additional award should be included with the payment.

Late Payment
A late payment charge of the lesser of $100 or 10% of the outstanding balance will be assessed to cadets who do not pay the tuition and fees by the due date on their statement. VMI will accept payments postmarked by the due date as on time. Payments should be made for pending financial aid. These amounts will be refunded when the financial aid becomes available.

Financial Aid
All VMI Financial Aid has been reflected on your bill. Outside awards may be deducted from the bill if you send a copy of the award letter with your bill.

Direct Loans
The Ford Federal Direct Loan Program allows loan proceeds to be credited directly to your account. Loans will be disbursed in two payments. The first semester, upperclass accounts will be credited the first week in September and incoming freshman accounts will be credited 30 days after the beginning of classes per federal law. Fourth Classmen (freshman) will be allowed to sign a VMI promissory note for the amount of their loan only, if they have returned a signed federal loan promissory note. A three percent fee will be taken out of the loan before it is credited to your account. For example, a loan in the amount of $2,625, will result in a credit to the account in September and January for the amount of $1,274 each semester, or $2,548. An administrative fee of $77 will be deducted initially.

ROTC Scholarships and Supplemental Grants
Incoming fourth classmen that have been awarded a 3 or 4 year ROTC scholarship should notify the Admission's Office as soon as possible. If the ROTC scholarship has not been deducted from the tuition/fees bill, please send a copy of the award letter with your payment. Army and Air Force ROTC scholarships do not take affect until 45 after the beginning of classes. If the cadet leaves before this 45 day period is up he or she will be responsible for paying any amount due the Institute.

Payment Plan
VMI offers one outside payment plan, the Tuition Management System (TMS). For an annual fee, tuition and fees may be paid in ten monthly installments. For more information please contact: TMS 1-800-722-4867 or http://www.afford.com

Refunds
Overpayments will be processed automatically after the first five weeks of class. They will be made payable to the cadet and sent to the address of record. Tuition and fees are refundable in part only upon official notice of withdrawal to the Commandant. Full refunds,less $800 are made for withdrawals prior to the first day of classes. On or after the first day of classes, refunds are prorated through the fifth week. Cadets receiving Title IV financial aid will receive a refund in accordance with applicable federal law. Exceptions to the refund policy are made only in extraordinary circumstances. Appeals for exception will be considered by the Tuition Appeal Committee upon written request to the Comptroller, Virginia Military Institute, Lexington, Virginia 24450.

Uniforms
Cadets are issued required military uniforms. These uniforms are the property of the Institute. All issued military Uniforms and equipment must be returned in good condition to the Military Store. Cadets will be charged for issued military uniforms and equipment not returned as required.

Text Books
Text books will be purchased the first week of school directly from the Keydet Bookstore, which is operated by a third party vendor. cash, check or credit card are accepted. The average cost of textbooks is approximately $250-350 per semester depending on the cadet's major.

Check Cashing
Checks may be cashed, with identification, in the Student Accounting Office, Smith Hall, Room 310. All government checks and personnel checks up to the amount of $200 will be cashed.