Student Accounts and Loans

Payment Methods

Payment Plans

Payments are due prior to the beginning of each semester by the due dates published in the College calender.

Payments only should be mailed to:

Trinity College
P.O. Box 30802
Hartford, CT 06150-0802

Address for correspondence and express mail deliveries:

Trinity College

Office of Student Accounts

300 Summit Street

Hartford, CT 06106

Trinity College accepts personal checks or money orders for payment towards students’ accounts.

Payments can also be made in the Student Accounts Office which is located in the Williams Memorial Building in Room 121. Office hours are:

Academic Year (Sept – May):

Monday – Friday 8:30 to 4:30

Summer - beginning May 21 – August 24:

Monday – Thursday 8:00 to 4:15

Friday 8:00 to 1:00

Trinity College does not accept credit cards or post-dated checks as forms of payment.

Trinity College offers a monthly payment plan through:

TuitionPay

PO Box 816

Swansea, MA 02777

(800) 635-0120

Website: www.tuitionpayenroll.com

TuitionPay offers an insured payment plan that allows parents and students to pay, without interest, their family contribution in 10 monthly installments. TuitionPay charges a $55 enrollment fee

Students attending Trinity sponsored study away programs may participate in TuitionPay. Trinity TuitionPay cannot be used for foreign or domestic leave programs sponsored by other schools.

Tuition Lock Plan

Full time undergraduate students may lock in tuition only based on the current rate in the term that you join the plan. This plan may be used up to 5 consecutive years (10 terms). There is a $ 1,000.00 cost per term associated with this plan. Students will be billed for room, meals and all other fees per term at the current rate. Payment for each term (plus lock in fee) is due in full before the beginning of each term according to the published due dates (August for Fall term / December for Spring term). Students may deduct approved financial aid from their payments. Families using the TuitionPay monthly payment plan are not eligible for the Tuition Lock Plan. For tuition lock application.

Prepaid Fixed Payment Plan

Full time undergraduate students who do not receive any form of financial aid (including loans or scholarships) may lock in the cost of tuition/fees and room/board. The full payment for all semesters must be made at the start of the term of joining the plan. The pre-payment is computed based on the rate of tuition/fees and/or room/board that is in effect at the first semester of registration multiplied by the number of semesters chosen for the lock in period. The plan does not cover summer, part time study, or study away terms. Students must join in the Fall term for a minimum of 4 terms (2 years), 6 terms (3 years), or 8 terms (4 years). For prepaid application.

Wire Transfer

We are also equipped to accept wire transfer payments directly from the bank. Please notify the Office of Student Accounts when you send a wire transfer so it can be properly identified and credited to the students account upon receipt. Please use the following information when sending a wire transfer:

Bank of America

Money Transfer Department - MSN 201
777 Main Street
Hartford, CT 06115

Payable to “Trustees of Trinity College”
Account number 0160288
ABA routing number 0119-00445

Scholarships, Grants and Loans

Financial Aid will release funds for grants and scholarships after verifying the accuracy of the information upon which the award was based. Under normal circumstances, half of the total financial aid award will be credited each semester.

Outside Awards

Students may deduct from the amount due any forthcoming outside awards that will be sent directly to the College. Half of the award will be credited to the fall and half to the spring unless the award notice specifies a different application. The Office of Student Accounts must have documentation of these awards, such as a notification letter of the award from the donor. Outside awards and scholarships, such as the Merit Scholarship, state grants, and employer tuition benefits, will be credited to student accounts when the Office of Student Accounts receives payment. If you receive an outside award and the provider of this award requests a copy of your tuition bill, please notify our office immediately so we can provide one for them.

Outside Scholarships

Outside scholarships are awards received from all private sources, including tuition benefits received from a parent’s employer. Because Trinity meets full, demonstrated financial need, federal regulations may require a reduction in your financial aid award if you receive an outside scholarship. Receipt of state scholarship and tuition benefits from a parent’s employer will reduce your Trinity Grant dollar for dollar. Scholarships from all other outside sources (Elks, Rotary, etc.) may reduce the self-help (job/loan) portion of your aid package dollar for dollar. Any additional awards above self-help may reduce your Trinity Grant dollar for dollar. If you receive a special aid package that does not include any self-help, your Trinity Grant will be reduced dollar for dollar, should you receive an outside scholarship. If you receive an outside award and the provider of this award requests a copy of your tuition bill, please notify our office immediately so we can provide one for them.

Credits for student loans will be applied after the loan promissory note has been completed and all financial aid paperwork is complete. The loan credit that appears on your bill will be minus a 2% loan fee. First year students will be instructed to sign their promissory notes electronically and complete their entrance loan counseling on line over the summer. Returning students will also be instucted to sign their loan promissory notes on line once their financial aid award has been completed. All students will be signing a master promissory note (MPN).

Parent PLUS Loans

A PLUS Loan allows parents of dependent undergraduate students to borrow up to the cost of the student’s education minus financial aid. Loan fees of up to 4% may be deducted by the lender but can be added to your requested loan amount at application.

Set interest rate limits. A fixed interest rate of 8.5% on PLUS loans disbursed on or after July 1, 2006 is set by the federal government. (Some lenders can offer benefit packages that may reduce the interest rate and/or fees.) PLUS loans disbursed prior to July 1, 2006 have an annual variable interest rate based on the 91-day Treasury bill plus a margin, set by the federal government, that will not exceed a 9.0% interest rate.

The plus loan funds will be disbursed directly to the student’s account in two disbursements, one in the fall and one in the spring. Each disbursement will be minus a 4% loan fee. Repayment of principal and interest normally begins after the second disbursement. The borrowing parent will be required to pass a credit check. If your credit cannot be approved, your lender or servicer will contact you directly. Trinity College is not involved with your credit check.

To be eligible for a PLUS Loan you must: file a 2008-2009 Free Application for Federal Student Aid (FAFSA); be a United States citizen, national or eligible non-citizen; be borrowing to pay college costs for a dependent student who meets all requirements set forth in federal regulations; provide your Social Security number; not be in default of any Title IV Loan unless satisfactory repayment arrangements have been made with the holder; not owe a refund on any Title IV grant unless satisfactory repayment arrangements have been made; not be determined to have adverse credit as defined by the PLUS Loan program; and comply with all other requirements as set forth in the Higher Education Act of 1965, as amended.

Please Note: Trinity College uses Sallie Mae as our loan servicer. Please visit their web site at Parentanswer.com or call them at 888-888-3479.

Trinity College parents are free to select any lender of their choice in the Federal Family Education Loan without penalty. The College’s financial aid professionals have identified for your convenience a number of carefully selected lenders. These lenders also have a history of providing exceptional customer service and stability in the market place. Ease of electronic processing for borrowers and efficient fund delivery were also important criteria in our selection of the following lenders:

Nellie Mae, Wachovia, Citizens Bank and SusieMae (CSLF).

Using a lender other than the three listed above requires proof of approval by the billing due date including a copy of a signed promissory note and school certification.

Trinity College does not participate in any revenue sharing with our selected lenders.

Alternative Loan Programs

Alternative loan programs present options that may assist you in meeting the costs of your financial obligation to Trinity. If you select an alternative loan, the College requires loan approval by August 15, 2008 for the fall term, and by December 12, 2008 for the spring term. Submission of a loan application does not constitute payment and your account may be subject to late fees.