college enrollment deposit

[educateme]

My son was accepted into his top choice school. The school sent a letter saying we need to put down $500 non refundable deposit. We are happy to do that. Normally, this will be applied to the tuition or any other university billable services.

However, since this school provides free room and board for the ROTC scholarship winners, and the Army pays tuition, fees, and what not, I don't know where this money is going since he owes NOTHING, no payment to the school now. I am sure there are other folks who had this issue. In your case, did the university reimburse the money?

I am sure I can call the school and get a detail, but I figured I will get some quick status check here.

 

[goaliedad]

My son was accepted into his top choice school. The school sent a letter saying we need to put down $500 non refundable deposit. We are happy to do that. Normally, this will be applied to the tuition or any other university billable services.

However, since this school provides free room and board for the ROTC scholarship winners, and the Army pays tuition, fees, and what not, I don't know where this money is going since he owes NOTHING, no payment to the school now. I am sure there are other folks who had this issue. In your case, did the university reimburse the money?

I am sure I can call the school and get a detail, but I figured I will get some quick status check here.

The deposit will be made to his account with the Bursar's office. That account is used to pay any university fee that he may incur including things not covered by the scholarship.

With goaliegirl, there were charges for orientation and use of recreational facilities (optional and thus not covered by scholarship).

If any of that money is still in the account when all of the first term's fees have been paid, it will be refunded as a check. At most universities, if the parent makes the payment, it will be refunded to the parent. YMMV.

Of course, when you see the Bursar's statement, it will make your medical insurance EOB look like child's play. LOL

Please note, that he will have to put down a deposit every semester to register for classes, so this will be a regular occurrence.

Hope this helps.

 

[clarksonarmy]

At Clarkson our cadets have to spot $300 at the very beginning. In 4 years when they graduate they get that money back if they don't have any outstanding parking tickets, or a damage charge from student housing. You are going to get 100 different answers to this question. Best to check with your school and Battalion.

But, as always, thanks for the question!

 

[paradoxer]

Another option

"At most universities, if the parent makes the payment, it will be refunded to the parent."

I have experience with 3 small private universities and a Big Ten school and the money in the student account has been refunded to the student not to the parent. Many schools have direct deposit which means the parent's deposit may never be seen again, if you get my meaning. And because of the various university policies as mentioned by Clarksonarmy the timing of the refund could be anywhere between 2 weeks and 4 years after school begins.

Check with the university directly.