Financial Information

Payment Policies

The Ecumenical Institute of Theology allows students to register for classes by paying the term's non-refundable fees (registration and student services). Full tuition payment, or partial payment with a deferred-payment contract, is due no later than the first day of class. Deferred-payment contracts, whereby the tuition is payable in installments, without finance charges, are available to new students and continuing students who maintain good credit at St. Mary's. Payments must be made by check, money order, cash, or credit card (VISA or MasterCard).

Each student is fully responsible for his or her own financial obligations. Students who fail to make their full tuition payment, or first installment on a deferred-payment contract, by the first class meeting will have their registrations cancelled. Students who fail to make a scheduled tuition payment are invoiced and assessed a late-payment fee for each occurrence. Repeated or extended delinquency within a term may result in an administrative withdrawal from the term's class(es). Students who are administratively withdrawn (a) lose all monies paid, (b) are responsible for tuition for the course according to the tuition reduction and refund policy printed below, and (c) receive no credit for the classes in which they were enrolled. Students who fail to meet their financial obligations on time, write checks with insufficient funds, or otherwise establish poor credit at St. Mary's may not be permitted future registration with a deferred-payment contract.

Students with outstanding financial obligations are not permitted to register for classes; receive credit for the courses for which tuition monies are due; or receive a grade report, transcript, certificate, or diploma.

A student's financial obligations are considered fulfilled when a check paid to St. Mary's clears the bank or a credit-card transaction is approved.

Tuition Reduction and Refund
Students who withdraw from a course are obligated to fulfill their financial obligations for the course. Tuition charges may be reduced, for students who officially withdraw, according to the schedule printed below. Thus, students may be eligible for a reduction in their total tuition charges, or a refund, according to the total tuition monies they have paid before withdrawing. The date used to determine the reduction or refund is the date on which a written, signed withdrawal notice is received by the Registrar. Email messages are not acceptable as notification of withdrawal from classes, though signed faxes are acceptable. The following schedule indicates the percentage of reduction in total tuition charges for the term:

Fall and Spring Terms

Summer Term

Any student who fails to withdraw officially or who is administratively withdrawn is not entitled to a reduction or refund.

Charges or Refunds for Changes in Registration Status
Students who change from audit to credit must pay full credit tuition regardless of the date their change in registration status becomes effective.

Students who change from credit to audit before the seventh Monday of the term (third Monday in summer term) will receive a reduction in tuition according to the date on which a written, signed notice is received by the Registrar. Thereafter, the student must pay full credit tuition.

Financial Records Policy
Financial documents that relate to a student's stay at St. Mary'’s may be examined only by those parties at St. Mary's who are directly responsible for students' accounts or billing matters.