Health Update: Preparing for Return to Campus

Payment Policies & FAQs

It is the student’s responsibility to become familiar with the College’s due dates, policies, and procedures. The following resources will help you understand these important guidelines.

Payment Deadlines

Winter Term: December 20, 2021
Spring Term: March 23, 2022
Summer Term: June 22, 2022
Fall Term: September 7, 2022

For a detailed version of each term’s deadlines, visit the Academic Calendar.

Consequences for Non-Payment

If you do not pay your bill by the due date, you may be dropped from your courses, you may be charged a late fee or you may have a hold put on your account that prevents you from registering in the future or from obtaining transcripts. Your account may also be assigned to an outside collection agency.

Student Financial Responsibility Agreement

The Student Financial Responsibility Agreement describes the financial obligation a student accepts when enrolling in classes at Granite State College.

  1. I accept full responsibility to pay all tuition, fees and other associated costs assessed as a result of my registration and/or receipt of services. I understand my student account constitutes a financial obligation between me and Granite State College (GSC). I further understand all proceeds of this agreement will be used for educational purposes and constitute an education loan pursuant to 11 U.S.C.§ 523(a)(8).I may review all charges and payments by viewing my ‘Account Summary by Term’ information in WebROCK.
  2. I understand and agree that if I drop or withdraw from some or all of the classes for which I register, I will be responsible for paying all or a portion of tuition and fees in accordance with the published add/drop and withdrawal schedule. I further understand that my failure to attend class does not absolve me of my financial responsibility as described above.
  3. I understand that GSC uses electronic billing as its official billing method, and therefore, I am responsible for viewing and paying my student account e-bill by the scheduled due date. I further understand that failure to review my e-bill does not constitute a valid reason for not paying my bill on time. Visit our How to Pay page for more information.
  4. I understand GSC may withhold registration, transcripts and diplomas; assess late payment fees; charge interest on unpaid balances; submit unpaid debt to a collection agency; and take other steps to collect the money I owe. I agree to pay all delinquency fees, including any costs of collection, which may be based on a percentage up to 50% of the debt, and all other costs and expenses including reasonable attorney fees
  5. I authorize GSC and their respective agents and contractors to contact me regarding my tuition and fees, including the repayment of my tuition and fees, at the current or any future cellular phone number(s), email address(es) or wireless device. I understand and agree that I am responsible for keeping GSC records up to date with my current physical addresses, email addresses, and phone numbers for purposes of continued communication regarding any amounts that remain due and owing to GSC.
  6. I understand if my overdue account is placed in collection, GSC reserves the right to report both positive and negative payment histories to credit-reporting agencies and may obtain a credit report on me at any time in the future to review my account.
  7. This agreement shall be interpreted in accordance with and pursuant to the laws of the state of New Hampshire.

Please acknowledge you have read, understand, and agree to the following terms and conditions using one of the following methods.
Refunds (Drops)

Tuition and fees are 100% refundable when you drop a course during the official add/drop period.

  • 12-Week Courses & 10-Week Courses
    Drop prior to the end of the second week of classes
  • 6-Week Courses
    Drop prior to the end of the first week of classes
  • Learning Contracts
    The Registrar’s Office will notify you of the last dates to drop and withdraw.
  • Weekend Courses/Intensive Courses
    Varies, see Special Add / Drop Courses & Deadlines for details.
Students Using Financial Aid

Depending on the aid you have received, you may be responsible for repaying some or all of the aid to the College if you withdraw. If federal financial aid has been received, it will be returned to the lender in accordance with the U.S. Department of Education regulations. A pro rata schedule is used to determine the amount of federal aid you have earned at the time of withdrawal, up to the 60% point of each course length. You are responsible for any resulting balance.

Returning Financial Aid (Withdrawl)

A “withdrawal” is a change in registration after the official add/drop deadline for the course. You should read and understand our withdrawal process before taking action; withdrawals may affect your financial aid in a number of ways. Examples include: creating a balance due you need to pay to the college, accepting additional aid, returning overpaid/excess loans, and more.

Please check with the Financial Aid Office before dropping/withdrawing if you are receiving financial aid (grants and/or loans).

Returned Checks

A $25 processing fee will be charged for all checks returned for insufficient funds.

 

 

Past Due & Collections

When there’s an unpaid balance that’s past due, a financial hold is placed on your account which prevents future enrollment or the release of an academic transcript. This occurs when:

  • Student account balances which remain unpaid after the start of the term
  • Balances that occur due to a return of federal financial aid

The Student Accounts Office will take appropriate collection steps, including but not limited to dunning calls, emails, letters, placement with outside billing and collection agencies, and/or contact with credit bureaus. Unpaid balances assigned to a third-party collection agency may be subject to additional fees or interest charges. A delinquency fee may be assessed due to a defaulted account or financial agreement. All costs, including attorney fees associated with the collection of an overdue account, will be charged to the student.

Enrolling with a Balance

Students may enroll in classes or request an academic transcript after all past due balances are paid in full.

Tax Information: 1098-T

What is Form 1098-T?

Form 1098-T is a tax document prepared by higher education institutions to report a student’s enrollment status, payments of qualified tuition and related expenses (QTRE), and scholarships and grants disbursed during the calendar year. A copy of this information is also sent to the Internal Revenue Service (IRS).

What are qualified tuition and related expenses?

Qualified tuition and related expenses (QTRE) include Granite State College’s tuition, course fees, enrollment fees, and technology fees.

 

What does each box on Form 1098-T report?

  • Box 1 reports amounts paid for Granite State College’s tuition, course fees, enrollment fees, and technology fees during the calendar year. Box 1 may include payments made in the current calendar year for courses to be held at Granite State College during the upcoming calendar year (e.g., tuition paid in December 2021 for winter term 2022 will be reported in Box 1 of Form 1098-T issued for calendar year 2021).  
  • Box 4 is for adjustments made for a prior year such as QTRE payments and/or reductions in charges for QTRE that relate to amounts billed from a prior year.
  • Box 5 reports scholarships and grants disbursed during the calendar year. This amount includes all payments designated as scholarships and grants that are administered and processed by Granite State College Student Accounts, as well as all payments by third parties (i.e., government, private, civic, religious, and/or nonprofit grants) to offset the cost of attendance.
  • Box 6 is for adjustments to scholarships or grants from a prior year.
  • Box 7 is checked if any payments received for qualified tuition and related expenses reported for 2021 relate to an academic period that begins in January through March of 2022.
  • Box 8 is checked if the student was at least a half-time student during any academic term that began in 2021. A half-time student is a student enrolled for at least half the full-time academic workload for the course of study the student is pursuing.

Please refer to the IRS FAQ on CARES Act funding for information related to Form 1098-T

Box 1 of my Form 1098-T does not equal the amount I paid to Granite State College for tuition during the year. Is this a mistake?

No - Box 1 reports amounts paid for QTRE during the calendar year (January to December of the previous year), as opposed to the academic year (September of the previous year to September of the current year). The form does not consider that tuition bills may be due in a different calendar year than the term dates. For example, tuition for the winter term is typically billed in December, so a student may have paid tuition for the winter term in December 2021, even though the classes did not commence until January 2022. The tuition paid for the winter term will be reported in Box 1 of the form issued for calendar year 2021.

I made a payment for Winter Term 2022, why isn’t Box 7 of my Form 1098-T checked?

Box 7 is checked if any payments received for qualified tuition and related expenses reported for 2021 relate to an academic period that begins in January through March of 2022. For example, Box 7 would be checked if a payment was posted to your account in December 2021 for the upcoming winter term; the amount paid would be reported in Box 1, with Box 7 checked. Alternatively, if the payment for the winter term posted in January 2022, then Box 7 would not be checked, as the payment was not made during calendar year 2021.

Who will receive a Form 1098-T?

Granite State College issues Form 1098-T only to degree-seeking students whose scholarships and grants do not exceed qualified tuition and related expenses for the calendar year. Copies of Form 1098-T are also filed with the Internal Revenue Service (IRS).

Consistent with IRS regulations, Granite State College does not issue Form 1098-T to:

  • students enrolled in courses that do not lead to a post-secondary degree (i.e., non-degree students)
  • students whose QTRE is 100% covered by scholarships and grants

How will I receive my Form 1098-T?

Form 1098-T is typically available by the end of January. To access your Form 1098-T electronically, use the following steps:

  • Visit http://tra.vangent.com (Internet Explorer 9 users may need to use “Compatibility View”).
  • Click the “First Time Students” button.
  • Enter your first and last name and the last 5 digits of your Social Security number.
  • Click “Submit.”
  • If you are eligible, you will be instructed to create an account. Follow the instructions on the website to create a free account and retrieve your 1098-T form. If records are not found for you or you have difficulty creating account, use the “Help” link in the left menu.

Note that if you retrieve your Form 1098-T online, you will NOT receive a mailed copy.

How do I use Form 1098-T?

The amounts reported on Form 1098-T may assist students in completing IRS Form 8863, which is used to calculate certain education tax credits that students may qualify for when filing their federal income tax returns. Depending on a student’s income (or family’s income, if a dependent), enrollment status (full-time or part-time), and/or the amount of qualified educational expenses for the year, students may be eligible for a federal education tax credit.

It is the student’s responsibility to maintain records of any scholarships, grants and other funding received in excess of tuition and fees during the calendar year, and to report these amounts on his or her individual income tax return if used for non-qualified expenses such as room and board, travel, and non-essential equipment.

There is an error on my Form 1098-T – how can I get a corrected copy?

Contact Granite State College Student Accounts Office: student.accounts@granite.edu

What resources are available regarding questions on Form 1098-T?

Note: Granite State College cannot provide personal tax advice. Please contact a tax advisor for additional questions.

Disclosure of Student Account Information (FERPA)

Student records at Granite State College are governed by the Family Educational Rights and Privacy Act (FERPA). Under the Family Educational Rights and Privacy Act (FERPA), your academic and account information is confidential between Granite State College and the student. You may grant permission for other people to have access to this information, such as a parent or spouse, by completing our Release of Information form.

 

 

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