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    Rivier University
   
 
  Dec 11, 2017
 
 
    
2014-2015 Undergraduate Catalog [ARCHIVED CATALOG]

Financial Management


Financial Management

Click on a link to be taken to the entry below.

 

Student Financial Management

Financial Aid Office

Investing in a quality private university education is a worthwhile but an expensive undertaking. To meet university costs, most students will need to look beyond their own financial resources for assistance. The Financial Aid Office to fulfills this need by providing assistance to students pursuing a degree at Rivier University.

Financial Aid Guidelines and Application Process

The primary responsibility for financing a college education lies with the student and the family (if the student is deemed dependent). All students must annually file the Free Application for Federal Student Aid (FAFSA) to receive consideration for financial aid. The purpose of the FAFSA is to determine the financial need of a student and to confirm eligibility to participate in student aid programs. The information provided in the FAFSA is calculated using a uniform federal needs-analysis formula developed by Congress. The results are released to Rivier University and used by the Financial Aid Office to create the award. A financial aid award will vary according to a student’s need and the availability of funds. Financial aid is awarded for one academic year at a time; students must reapply annually to receive consideration in subsequent years.

The FAFSA can be completed and submitted electronically via the Internet at www.fafsa.gov.

First-time financial aid filers are urged to complete the FAFSA as soon after January 1 as possible. The priority filing deadline for university funding is March 1. On-time financial aid applicants are given full consideration for assistance. Availability of funds cannot be guaranteed for late applicants; therefore, late applicants will be considered on a funds-available basis. The FAFSA should be filed at the same time that a student applies for admission. However, financial aid is not offered until the student has been accepted into a degree or certificate program.

A financial aid award consists of gift aid and/or self-help assistance. Scholarships and grants are considered gift aid. Student loans and campus employment are forms of self-help aid. In order to assist as many students as possible with Rivier’s limited university grant and scholarship resources, the Financial Aid Office must provide maximum self-help funding as the foundation of each financial aid award. You can contact the Financial Aid Office at 603-897-8510 or at finaid@rivier.edu.

Eligibility

Financial aid recipients must be:

  • Eligible to participate in financial aid programs
  • Matriculated into a degree or certificate program
  • Enrolled at least half-time
  • Making satisfactory academic progress

Federal regulations specify that federal financial aid recipients must be U.S. citizens, or eligible non-citizens (U.S. permanent residents who have an alien registration card).

Financial Need

A student’s financial need is the cost of attendance minus the expected family contribution (EFC). Students may not receive financial aid in excess of their cost of attendance. The Financial Aid Office usually is unable to meet a student’s full financial need due to limited resources. However, the staff will assist the student in finding alternative financing programs.

Satisfactory Academic Progress

All undergraduate students are evaluated for satisfactory academic progress (SAP) at the end of each payment period (semester).

  1. Credit Hour Programs

    Satisfactory academic progress is measured qualitatively, by review of the Cumulative Grade Point Average (CGPA); quantitatively, by review of the rate of progress - the percentage of credits earned vs. attempted; and overall against a maximum timeframe of 150% of the program length, measured in attempted credits. Full-time undergraduate students must complete their program within six years (see table below for minimum completion requirements). The academic credit for semesters is earned with a passing grade (D or better). Satisfactory progress is defined as a minimum of a 2.00 CGPA and a rate of progress of at least 67%.

    CREDITS SUCCESSFULLY COMPLETED

    YEAR
    MINIMUM NUMBER
    1  18
    2  39
    3  60
    4  81
    5  96
    6 120
           
    Part-time undergraduates must complete their program in a proportional amount of time.

    To successfully complete a program the student must achieve 100% of the program credits within 150% of the program length, as defined by attempted credits.

    Part-time undergraduates must complete their program in a proportional amount of time. 
    To successfully complete a program the student must achieve 100% of the program credits within 150% of the program length, as defined by attempted credits. 
  2. Satisfactory Academic Progress Status Review

    At the SAP checkpoint, a student who is not meeting the SAP requirements for the first time will be placed on a “Financial Aid Warning.” Students on “Financial Aid Warning” who do not meet SAP requirements for the subsequent semester will lose financial aid eligibility. To regain aid eligibility after this point, the student must appeal in accordance with the policy described below. Students whose appeals are granted will be placed on “Financial Aid Probation” for the next semester. If students do not meet SAP after the “Financial Aid Probation” period, all federal eligibility will be lost. 

  3.  Appeal Process

     A student who loses aid eligibility due to failure to maintain satisfactory academic progress may appeal this status. To do so, the student must submit a “Financial Aid Satisfactory Academic Progress (SAP) Appeal” form and a “Satisfactory Academic Progress Plan Student Contract” within fourteen (14) calendar days of receiving the notice of financial aid termination. This appeal should be addressed to the Director of Financial Aid in Adrienne Hall. The appeal must be accompanied by documentation of the situation, events or circumstances that prevented the student from attaining satisfactory academic progress or otherwise explains the student’s deficient performance. Generally, only extraordinary circumstances are considered, such as the severe illness of the student or an immediate family member. The student will be sent the Director’s written decision within ten (10) days of the school’s receipt of the appeal. The decision of the Director of her designee will be final. 

    If the appeal is granted, a student previously receiving financial aid will regain financial aid eligibility on an Academic Plan status. The student must regain SAP status by the time projected in the Academic Plan, but no later than the maximum timeframe of the program. 
    The student’s appeal must address the following: 
    a. The basis for the appeal - a description of the special circumstance AND 
    b. The reason why the student failed to meet the SAP standard(s) AND
    c. What has changed in the student’s situation so that he or she will now be able to meet with SAP standards. 

    Appeals will be granted on a case by case basis. 
     
  4. Academic Plans

    A student whose appeal is granted will be required to meet the terms of the Academic Plan as outlined in the notice granting the appeal. Generally, the Academic Plan will require students to meet or exceed the attendance requirements, pass all courses with a “C” or better and may include additional required elements, such as tutoring. At the end of each semester, the student’s progress will be reviewed based on the Academic Plan. A student who fails to maintain the terms of the academic plan will be terminated from financial aid eligibility. 
  5. Miscellaneous

    Grades of I (Incomplete), F (Failing) and W (Withdrawn) are not considered to be completed credits, but do count as attempted credits. I (Incomplete) grades are temporary and if not satisfactorily resolved by the deadline set between the Registrar’s Office and the professor become F (Failing) grades. Transfer credits are included as both credits earned and credits attempted. P (Passing) grades and W (Withdrawn) count as credits earned and attempted, but have no value for CGPA. Course repetitions count as attempted credits, but students can earn credit only once. When a course is repeated, the later grade will replace the first grade in calculating the CGPA.

Withdrawal

Students who are enrolled at Rivier University and withdraw before completion of 60 percent of the current term receive only a portion of their federal assistance to meet their college costs. Students who withdraw from the University must give notice, in writing, to the University Registrar, and the Financial Aid Office.

Summer Aid

Students wishing to receive financial aid for the summer sessions should contact the Financial Aid Office in April for instructions and eligibility conditions.

Tuition, Refunds, and Fees

Tuition and Fees

Tuition and fees for the current academic year are published annually and are refundable according to the stated withdrawal policy. There is a tuition differential between full-time undergraduate, part-time day and part-time evening study.

Full-time students carrying 12 or more credits are charged the same rate regardless of the program of study.

Part-time undergraduate students who enroll in courses which begin before 5 P.M. will be billed at the day tuition rate.

Under most circumstances, part-time undergraduate students who enroll in courses which begin at or after 5 P.M. will be billed at the evening undergraduate rates. Health Science and Nursing courses which have a clinical component will be billed at the day tuition rate. All credit-bearing private music instruction is assessed at the day tuition rate.

Students can view their account at MyRiv/MyAcademics/My Ledger. They may make payment at www.rivier.edu/payonline.

Deposits and Due Dates for Undergraduate Day Studies

A tuition deposit of $300 is required of full-time students. In addition, a deposit of $100 is required to reserve a room. Both deposits are due by March 16 for returning students, and on or before May 1 for new students.

Students accepted by April 1 should forward deposit(s) by May 1. Students accepted after April 1 should forward deposit(s) within three weeks of their acceptance. The tuition and room deposits are refundable until May 1. After May 1, NO REFUNDS will be made nor will the room deposit be converted into an additional tuition deposit.

The balance of all student fees must be paid by August 1st for the fall semester and by December 10th for the spring semester. No place in class is guaranteed until full payment or payment arrangement is made. No transcript of credits or diplomas will be issued until the student’s account has been paid in full. Registrations for future semesters may be denied if payment arrangements in the current semester are not complete. If payment in full or payment arrangements have not been made by the due date, a $50 late penalty may be applied.

Part-time Evening Undergraduate Evening Studies

All payment arrangements must be made by 1 week prior to the start of the term or upon registration for courses. No place is guaranteed in class until full payment is received or payment arrangements are made. No transcript of credits or diplomas will be issued until the student’s account has been paid in full. If payment in full or payment arrangements have not been made by the due date, a $50 late penalty will be applied.

Finance Charge

A finance charge of 1.5 percent per month will be applied to balances past due. This is equivalent to an Annual Percentage Rate of 18 percent. The minimum Service Charge is $3 per month.

Tuition and Fees Academic Year 2014-2015
 

Full-time undergraduate study    
  (per semester):   $14,150
  (12 or more credits)    
Part-time undergraduate:    
  Day courses per credit rate   $943
  Evening courses per credit rate   $320
  Nursing courses with clinical fees   $943

Room and board charges for 2014-2015:

   
 

Guild and Trinity Residence Halls

   
  (Double room - per semester)   $5,470
  Presentation Residence Hall    
  (Double room - per semester)   $5,675
  Brassard Residence Hall    
  (Double room - per semester)  

     $5,885

 

Special Non-Refundable Fees  

 

Application  

$25

Parking Sticker Fee, annual  

$50

Challenge Examination, per credit  

$80

Commencement Fee  

$125

Deferral Fee   $25
Service Charge for Returned Checks  

$25

Liability Insurance Fee:
Nursing Clinicals or Practicums, Counseling, Social Work, Psychology Internships

 

$15**

Music - non-credit basis  

$943

New Student Fee  

$250

Student Health Insurance  

**

(required unless proof of alternative
coverage is shown)
 

 

Health Fee, each semester (residents only)  

$150

Activity Fee, each semester (full-time students)  

$150

Telecommunications fee, each semester  

$100

(residents only)  

 

Transcript Fee   $5
Late Penalty  

$50

**Subject to change each semester / set by insurance company  

 

Notes: The University reserves the right to change any of the above charges when, in the judgment of the administration, it becomes necessary to do so.

Refunds

Students must contact their Academic Advisor for information about withdrawal process before withdrawing from a course. To be official, notification of withdrawal must be written. Due to the multiple start times within each semester, please contact the Business Office, 603-897-8488 or busoffice@rivier.edu, for refund information. Students are responsible for the entire charge up to the date they officially withdraw from the course. See semester course listing for actual dates.

Statement for Room/Board Refund Policy

Refund for room and board will be made on the same basis as full-time tuition.

Payment Plans

Full-time or Part-Time Students

For students who would prefer to pay their educational expenses (tuition, room, and board) in monthly installments, the University offers a convenient payment plan through TuitionPay. The TuitionPay Monthly Payment Plan allows students to pay all or part of their educational expenses in monthly installments without interest charges. The only cost associated with the plan is a participation fee charged by TuitionPay. A valuable feature of the plan is TuitionPayment Insurance which is provided at no additional cost. This insurance guarantees payment of the unpaid TuitionPay contract balance in the event of the death of the insured person, usually the bill payer. Questions regarding the plan should be directed to TuitionPay at their toll-free number, 1-800-635-0120.

Part-Time Students

Two deferred-payment plans are available to assist part-time students in meeting their financial obligations for educational expenses. A non-refundable fee of $25 each semester is charged to participate in either plan.

The Employer Reimbursement Plan (ERP) is designed for students being reimbursed by their employer after end of the course. Under ERP the majority of tuition and fees will be deferred until 30 days after the end of the course. In order to participate in the plan, each semester students must: (1) submit copy of company reimbursement policy and, (2) make a $100 payment on account.

The General Payment Plan (GPP) is available to all other students. Through GPP, students may elect to pay their tuition and fee charges in three equal payments.

The student is ultimately responsible for all charges under ERP and GPP regardless of successful completion of the course(s). The Business Office may deny participation in either plan, based on the student’s prior payment history.

Auditing/Fees

Due to the nature of certain laboratory courses and other skill courses, some courses cannot be taken on an audit basis. Lecture courses may be audited. The audit fee is the same as the credit charge except for Rivier University alumni and senior citizens. Contact the Academic Advising Office for more information.

Rivier University Alumni

Alumni holding a bachelor’s and/or master’s degree from Rivier University are granted the privilege of auditing undergraduate courses at no tuition cost on a space-available basis. The Registration Form is authorized by the Associate Registrar.

Senior Citizens

Persons 60 years of age or older may audit classes on a space-available basis, paying fees only; there is no tuition charge. Senior citizens wishing to take courses for credit pay half the tuition charge plus fees. For persons 55 years or older, the University sponsors the Rivier Institute for Senior Education (RISE) in partnership with the Elderhostel Institute Network. Classes offer instruction on a variety of topics, meet during the day in five- or ten-week sessions, and offer no traditional college tests or credits.