Tuition and Financial Aid

Tuition and Fees for 2017-18

Students can view the tuition and fees online here: https://www.rochester.edu/adminfinance/bursar/PDFs/SimonFees2017-18.pdf. The Activity Fee covers a variety of expenses related to a diverse set of student activities. These include support for the Graduate Business Council, student clubs, photocopying of course material, software licenses, cap and gown rental for graduation, university charges for student activities, etc. Several years ago Simon Business School decided to fund these activities through a single fee rather than individual charges as we used to do and some other schools continue to do. Full-time students are charged $175 per quarter in which they are registered, even if they are not resident in Rochester. (Examples include: GBA 490 American Business Practice, GBA 491 Reading Course and GBA 492/493 International Exchange Programs).
 

Billing Schedule and Online Billing

All students are required to submit a Online Payment Agreement prior to registration for classes. The payment agreement is submitted online: www.rochester.edu/adminfinance/bursar. Please note that you must complete a payment agreement even if you are receiving a tuition benefit as a University employee. The student may change their payment option or billing address at any time by submitting a new payment agreement online. These requests must come from the student. The student is responsible for notifying the Bursar’s Office if the billing address changes. Students are responsible for viewing their billing statement online each month and can be viewed through the UR ePAY link through the student portal. Students will not receive a statement in the mail. Electronic billing is the official method of billing. Paper bills will not be sent.
 

Payment Options

The University offers Graduate students two options for payment of tuition and fees for each quarter:
Single Payment Option: Due dates are October 10 for the fall quarter, February 10 for the winter quarter, April 10 for the spring quarter, and July 10 for the summer quarter. Note: for students who start the fall quarter in August, the due date will be September 10. Two Payment Option: Due dates are October 10 and November 10 for the fall quarter, February 10 and March 10 for the winter quarter, April 10 and May 10 for the spring quarter, and July 10 and August 10 for the summer quarter. Note: for students who start the fall quarter in August, you will pay in 2 installments due September 10 and October 10. Employer Sponsored Payment Plan (ESP) – students must submit a completed ESP form for each quarter of attendance to the Bursar’s Office by the first week of class. Direct Billing Authorization – students must submit a completed DIRECT BILLING AUTHORIZATION form for each quarter of attendance to the Bursar’s Office, by the first week of class. To print Direct Billing and Employer Sponsored Payment Plan (ESP) forms, go to: http://www.rochester.edu/adminfinance/bursar/simonforms.htm
 

Billing Statement


The student billing statement can be viewed online from your student portal: http://learn.rochester.edu. Once you log in, click on UR ePAY on the left. Students receive an email each month when the new billing statement is available. Students are encouraged to pay their bill online using UR ePAY. Our vendor accepts electronic check payments or wire transfer via peerTransfer (a trusted source for sending wire transfers). Additionally, payments made via an online bill payment service (other than UR ePAY) are converted to a paper check when submitted to the University. Please allow extra time for processing. All check payments must be in U.S. dollars and drawn on a U.S. bank. Students may also pay via wire transfer using peerTransfer. For more details visit: http://www.rochester.edu/adminfinance/bursar/billing.html.
 

Bursar Holds


University policy requires that students be current in payment of all tuition and fees prior to registration for each academic term. Simon students who have a past-due balance will not be pre- registered for the next term or allowed to register online. Students will also not be able to access courses on Blackboard. University policy also requires all students to submit a payment agreement prior to registration. If you have a past-due balance, you may settle your account with the Bursar's Office, 330 Meliora Hall, 585-275-3931.
 

Refund Policy

 
If you are expecting to receive a refund of the proceeds of your student loan(s), you will need to contact the Bursar’s Office each quarter to request a direct deposit refund. You will not be eligible to receive a refund until you have completed the promissory note(s), entrance counseling and have submitted all documents required by the Financial Aid office. Once all financial aid has been credited to your student account you may request a refund. Please be advised that refunds are not issued until the start of classes each quarter, and that the processing time for direct deposit refunds is 5-7 business days. If the credit balance on a student account is the result, in part, of an overpayment by credit card, the Bursar’s Office reserves the right to issue a refund check or funding source. Student loans are generally issued in three disbursements. For details on the Student Refund process, visit: http://www.rochester.edu/adminfinance/bursar/refund.html.
Students who withdraw or take a leave from Simon Business School, voluntarily or involuntarily, after the first day of classes but before the time when s/he has completed 60 percent of the period of enrollment, will have their institutional charges and institutional aid adjusted based on a daily proration of attendance. For information on the University policy covering withdrawal or leave of absence, please go to: http://www.rochester.edu/registrar/policies.html#refunds.
 

Financial Aid


Simon Business School awards and administers merit-based financial aid in the form of scholarships and fellowships to full-time MBA and MS students. Merit-based financial aid is available to part-time students studying in the Professional MBA program (PMBA). A scholarship is a tuition credit and, under current Federal tax law, is not taxable. A scholarship is applied on a pro-rated basis – refer to your scholarship offer letter for details on the allocation of the award. Students should consider scholarships as a partial credit of tuition charges each quarter. Scholarships are not increased or re-allocated across quarters for those who extend or decrease the time required to complete their degree. Scholarships do not apply to review courses or courses that must be retaken, nor do they apply to fees (e.g., activity fees, transfer credit fees, etc.) or audited courses. Scholarships awarded to entering MBA students are automatically renewed at the same level for the second year if the student has achieved a GPA of 3.0 or better in the first year of the program. Students with a GPA of less than 3.0 will have their scholarship reduced, completely or in part, depending on the level of aid and the student’s academic performance. Once aid is decreased, it remains at that level for the duration of the second year of the program and is not increased back to original levels based on subsequent performance. No new scholarships are awarded once a student has enrolled. No increases in scholarships are made after a student has enrolled. Scholarships only apply to courses taken at Simon Business School. They do not cover the expense of courses taken at other colleges within the University or at other universities for transfer credit. In cases where the Simon administration determines academic honesty was violated (e.g. plagiarism, cheating, etc.), scholarship and fellowships will be removed entirely and the student will no longer be eligible effective the term the academic dishonesty took place, as concluded by the Simon administration. The Financial Aid Office provides assistance to graduate students who are interested in obtaining federal and/or alternative loans to help fund their education. To be eligible for federal loans, students must be either a U.S. citizen or a permanent resident, matriculated into a degree-seeking program, and enrolled for at least 6 credit hours per term. Students who are international, registered for less than 6 credit hours, or are non- matriculated should contact the Financial Aid Office to discuss alternative loan options with their financial aid counselor. Graduate students who are applying for federal aid must complete a Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. The University of Rochester’s school code is 002894. Students must complete all application materials for both federal and alternative loans each academic year. Federal Direct Unsubsidized Loans: Graduate students may borrow up to a maximum of $20,500 per academic year through the Federal Direct Unsubsidized loan program. For details on federal loans, visit: https://studentloans.gov/myDirectLoan/index.action. Interest will begin to accrue on the loan once it has disbursed to the student’s account. The actual amount a student is eligible to borrow cannot exceed the University of Rochester’s cost of attendance minus any other assistance received (includes departmental awards and/or employer benefits). Federal Direct Graduate PLUS Loan: The Graduate PLUS loan is based on credit-worthiness, which is determined by the federal government. For details on Graduate PLUS federal loans, visit: https://studentloans.gov/myDirectLoan/index.action. Students may defer payments while they are enrolled at least half-time (defined as 6-credit hours per term at the University of Rochester). Applications can be submitted online with federal government at www.studentloans.gov. Students must apply for the federal direct unsubsidized loan first before applying for the Graduate PLUS loan. Alternative Loan: Students may opt for an alternative loan instead of the suggested federal loans. Please be aware that alternative loans are based upon credit-worthiness and have a variable interest rate, as determined by the individual lender. Students must complete an application and be approved by the lender before funds will disburse to their student account. Please be aware that a co-borrower may be required for some students. For additional information on these loan options, please visit the Financial Aid Office’s website at www.enrollment.rochester.edu/financialaid and visit elmselect.com for examples of alternative loans.
 

Student Employment - Assistantships


An assistantship is a stipend awarded in return for work performed at Simon Business School. Assistantships are awarded to MBA and PhD students in the second year of the program. Second-year MBA academic assistantships are based solely on first-year academic performance and are awarded at the end of the first year. Academic assistantships normally involve grading and/or teaching assistance in graduate or undergraduate courses or course development work with a Simon Business School faculty member. Expected time commitment for students with assistantships is an average of 10 hours per week while school is in session. Every effort will be made to assign academic assistantships in students’ areas of concentration or interest for as many quarters or semesters as possible. However, assignments are made in accordance with academic need and cannot be guaranteed every term. For information contact Sue Harris, PhD Administrator, Carol Simon Hall, Room 4-345. Assistantship checks are issued semimonthly through the Academic Operations Office in Carol Simon Hall. Under current federal tax law, assistantships are taxable.
 

Employment Opportunities


While Simon Business School cannot prohibit full-time students from working part-time to offset their expenses, students are discouraged from such activities in their first year of the MBA/MS and PhD programs. The curriculum is designed to include substantial teamwork and the workload is heavy. Second-year students are sometimes able to secure work at Simon Business School. Opportunities exist in many of the School’s administrative offices. Hourly grading assignments are offered as needed through Academic Operations. Students are selected based on their performance in the course where grading assistance is required. Students might also locate work with Simon Business School professors in areas such as research and course development. These positions are usually reported on an hourly basis. The hours and rates are determined by the student’s program and are subject to University guidelines. All students must be officially hired by the University of Rochester before beginning work. The office of Academic Operations, Carol Simon Hall, will assist students in compiling the required paperwork to complete the hiring process.
 

University-Wide Employment Opportunities


The University’s Financial Aid Office, located in Wallis Hall, Room G13, is responsible for coordinating all hourly student employment within the University. They offer a variety of resources to assist current students who wish to work. The University employs over 2400 graduate and undergraduate students on the hourly payroll every year. Applicants for student employment opportunities must be registered full-time matriculated students. Position openings are accessible via the Internet at https://enrollment.rochester.edu/financial-aid/employment/. Students are eligible for off-campus employment; however, international students should first verify eligibility with the International Services Office (ISO). Students who wish to work only on a casual basis, or who wish to supplement their earnings through occasional extra employment, may register through Strong Staffing located at Brooks Landing, 910 Genesee Street, Suite 100 (275-6206).
 

Employment Opportunities for Spouses

Spouses of UR students seeking University employment should visit the Employment Services Division, Office of Human Resources located at Brooks Landing, 910 Genesee Street, Suite 100. University vacancies are on file in three-ring notebooks inside this office at the main reception desk, in the local newspapers and by the University of Rochester home page at www.rochester.edu selecting Working at the University, then Job Opportunities. Employment Services Office hours are 8:00 a.m.-5:00 p.m., Monday - Friday. Information on applicant procedures is available by calling 275-2091. Career Development Services is a non-profit organization that partners with individuals and organizations to help them grow, change and succeed. A leader in career coaching, re-careering and job search strategies, Career Development Services provides assessments, coaching and counseling for individuals, services to achieve positive outcomes in workforce transitions, and a wide range of career management and consulting services to national corporations. For more information, call (585-244-0765) or visit them on the web at www.careerdev.org
 

Employment Limitations for International Students

International students in F-1 and J-1 status have restrictions on employment options both on and off campus. International students cannot work off campus without written permission from the ISO and/or the Department of Homeland Security. F-1 students may work on campus incident to their status up to 20 hours per week during the academic year and full-time during breaks and J-1’s may work on campus with written permission from their J-1 sponsors. Employment applications, instructions and immigration advising on employment issues are available at the ISO. Before accepting any position, international students must contact the International Services Office in Morey Hall room 213 to determine eligibility and conditions for employment. F-2 dependents of international students are not allowed to accept employment while in F-2 status. J-2 dependents may apply for work permission under certain conditions. Please contact the ISO for additional information and assistance.
 

Family Educational Rights and Privacy Act (FERPA)

The Simon Graduate School of Business, as part of the University of Rochester, complies fully with the provisions of the Family Educational Rights and Privacy Act (FERPA), 20 U.S.C. 1232g. Under FERPA, students have, with certain limited exceptions, the right to inspect and review their educational records and to request the amendment of their records to ensure that they are not inaccurate, misleading or otherwise in violation of the student’s privacy or other rights. Requests to inspect or review records should be addressed to the Registrar, or to the appropriate administrator responsible for the records, and will be honored within 45 days. Any student questioning the accuracy of any record may state his or her objection in writing to the University administrator responsible for the record, who will notify the student of their decision within 45 days of receiving the objection. Final review of any decision will be by the appropriate dean who, if requested by the student, will appoint a hearing committee of two faculty members and one staff member to investigate and make recommendations. Students concerned with the University’s compliance with FERPA have the right to file complaints with the U.S. Department of Education’s Family Compliance Office. FERPA further requires, again with certain limited exceptions, that the student’s consent must be obtained before disclosing any personally identifiable information in the student’s education records. One such exception is disclosure to parents of dependent students. Another exception is disclosure to school officials with legitimate educational interests, on a “need-to-know” basis, as determined by the administrator responsible for the file. A “school official” includes: anyone employed by the University in an administrative, supervisory, academic, research or support staff position (including law enforcement unit personnel and health staff); any person or company acting on behalf of the University (such as an attorney, auditor, or collection agent); any member of the Board of Trustees or other governance/advisory body; and any student serving on an official committee, such as disciplinary or grievance committee, or assisting another school official in performing his or her tasks. A school official has a legitimate educational interest if the official needs to review education records in order to fulfill his or her professional responsibility. Other exceptions are described in the FERPA statute and regulations 34 C.F.R. Part 99. The University considers the following to be directory information: name, campus address, e- mail address, home address, telephone number, date and place of birth, academic fields of study, dates of attendance, current enrollment (full or part-time), photographs, participation in recognized activities and sports, degrees and awards, most previous educational institution attended, and other similar information. The University may publicize or respond to requests for such information at its discretion. However, the use of records for commercial or political purposes is prohibited unless approved by the appropriate Dean.