Financial Information

Bursar Information (Tuition, Fees, Financial Policies)

Dear Student:

The bursar's office staff welcomes you to Syracuse University. We will try to be as helpful as possible throughout your academic career at our institution. Accordingly, we offer the following information to help you understand how you will interact with the University regarding your student account.

Understanding Our Financial Policies:

Our Tuition, Fees and Related Policies booklet will be sent to you in Set 2 of the ReadySet. It outlines the University's costs and policies. Here is a brief summary of the business cycle:

• Your first fall semester bill is sent in June. If you are on the monthly payment plan, you may pay fall semester charges over five months. Otherwise, payment will be due on or about TBD. Spring semester billings begin in November. If you are on the monthly payment plan, you may pay spring charges over six months. If you are not on the plan, payment will be due on or about TBD. A monthly payment plan application can be found in your admissions booklet, or you can print one from our web site at: http://bfasweb.syr.edu/bursar/BsrMPP.html.
• To confirm the fall/spring registrations, your bursar student account must be current. This means you must either have paid or you must be covered by anticipated financial aid (aid that has been awarded but not disbursed). Otherwise, please be sure you have confirmation from our office that an agreed upon plan for payment has been established. If for some reason your account is not current, we will take steps to keep you informed.
• Accounts on the monthly payment plan will be billed monthly. Those not on a payment plan will be billed approximately two more times each semester after the initial bills sent in June for fall term and November for spring term. For the fall term, additional billings usually occur in early October and November. For the spring term, additional billings usually occur in early February and April. Charges and credits may continue to post throughout the semester depending upon the student's activity in relation to the bursar account.
• If an account does become past due, a financial hold is placed on the account, preventing a student from registering for courses or accessing transcripts. When this status happens, we alert students either on the web or by letter, depending on the time of year.

Access to Bursar Information:

• Student account and related financial information is available to students via the University web site. Share My Access is a feature we recommend strongly for parents. This allows a student to provide parents with their own account and password to view financial information and other University information online. If you have any further questions regarding this feature, please don't hesitate to call us at 315-443-2444. Information can be found online at http://bfasweb.syr.edu/bursar/Access.html as well.

Billing:

• College billings are different than what you may be accustomed to, as we factor in anticipated financial aid. This means we take your overall balance, subtract any aid we believe you will be receiving, and only ask that the difference be paid. Although this adds complexity, we believe it is more fair to the family.
• If you receive a bill you believe is incorrect, don't panic. For example, you may anticipate aid and not see it reflected on the bill. Simply contact us and we will be glad to research the account. In fact, before the fall and spring terms, we will make an effort to call you if we see anything that may interfere with our ability to confirm your course schedule.
• Our phones may be quite busy just after a billing has been mailed, so please feel free to contact us by e-mail at Bursar@syr.edu or visit our web site at http://bfasweb.syr.edu/bursar, which may help to get your questions answered.
• PLUS, alternative loans, or other private loans may be deferred against the balance due only if they have been approved by the lender and posted to your student account as anticipated aid. This process can take several weeks to complete, so please apply early! Per federal regulations, first-year loan funds are disbursed 30 days from the first day of classes.

Refunds:

• In the event that your bursar student account is overpaid, you may request a refund either online, via phone, or in person. Refund checks can be mailed or picked up at the Hildegarde and J. Myer Schine Student Center. SU I.D. must be shown to pick up a check.

We are here to help, and we encourage you to visit our web site for a wealth of information. If you need additional assistance, please contact us. Managing college finances can be complex. We understand and are happy to address your questions or concerns. We look forward to your arrival on campus.

Sincerely,

The staff at the Office of the Bursar
Syracuse University

Local Banks/ATM

Many students choose to establish a bank account for the time that they are here, as this is more convenient. Some banks have branches nationwide; most of those listed can set up accounts online prior to arrival. No endorsement of the banks is implied by this list; it is primarily for your own information. A map of on-campus ATMs is also provided.

Information from the Treasurer's Office, Syracuse University

You may wish to establish a personal bank account with a local bank prior to arrival on campus in August. There are four banks located near the Syracuse University campus - JP Morgan Chase, HSBC, Alliance Bank, and M&T Bank.

Two additional banks, Key Bank and Bank of America, are located within a short driving distance from the University.

If you are planning to establish a banking relationship with any of these banks, please contact them at your earliest convenience to ensure prompt setup of your account.

Syracuse University owns many ATMs on campus. The transaction service charge varies, with a maximum of $1.50. Please contact your bank to determine if they charge any additional ATM service fees.

Walking distance:

Alliance Bank, N.A.
101 Marshall Street
Syracuse, NY 13210
1-800-310-6275
www.alliancebankna.com

HSBC
University Branch
1004 East Adams Street
Syracuse NY 13210-1710
315/476-2530
800/962-7463
www.hsbc.com

JP Morgan Chase
University Hill Branch
649 South Crouse Ave.
Syracuse NY 13210-1751
315/424-2730
www.chase.com

M & T Bank
University Hill Office
725 Irving Avenue
Syracuse NY 13210-1704
315/422-2110
800/724-2440
www.mandtbank.com

Driving distance:

Citizens Bank
Erie Blvd./Price Chopper
2515 Erie Blvd. East
Syracuse NY 1324
315/446-3131
www.citizensbank.com

Key Bank of New York
Nottingham Office
215 Tecumseh Road
Syracuse NY 13224
315/446-8091
800/539-2968
www.key.com

Personal Property Insurance

Why Have Renter's Insurance?

Before moving into your new rental home, make sure your belongings are protected. Landlords and property owners are typically not responsible for your personal property. There are two main reasons for obtaining rental insurance for your home. First, and most obvious, is to protect your property against theft or damage. Some policies will cover theft of your property from your home and your place of work. Renter's insurance can cover fire and smoke damage, theft, vandalism, damage from windstorms, and many other hazards. Specific coverage will depend on your particular policy. The second reason to get a policy is for the liability coverage, to protect you from a civil suit based on your negligence. Some policies also pay medical expenses if people are injured on your premises.

Important Considerations

Renter's insurance usually ranges from $55 to $235 a year. To determine how much coverage you need, add up the cost of replacing all of your possessions. Every policy is slightly different. Shop around for the policy that meets your needs. Prices vary from company to company and so does protection. It is very difficult to quote prices because of the number of variables involved in rental policies. Many local agents carry policies from several different insurance companies, so shop for the best deal. Insurance agents are listed in the yellow pages under "Insurance."

Syracuse University offers a personal property only protection plan from Haylor, Freyer & Coon, Inc. (HF&C) to all enrolled students. For more information about this plan, call 866-535-0456, visit www.haylor.com/student, or e-mail student@haylor.com.Note that the HF&C policy does not include liability coverage.

Deductible

Most policies have a deductible. This is a specific amount deducted from each claim you file. For example, if your $400 camera is stolen, and you have a $100 deductible, you will, subject to the policy's terms and conditions, receive $300 in your adjustment. The purpose of a deductible is to eliminate the paperwork for small claims. Unfortunately, insurance companies and students may have different ideas of what is small claim. It is a good idea to shop around because deductibles can usually vary from $50 to $500.

Liability

Liability coverage can range from $100,000 to up $1,000,000. Check to see if your policy will cover your attorney costs in a civil suit, and/or medical expenses to those who are injured due to your negligence.

Variables that can affect your rates:

• Whether you live in or out of city limits
• Type of building construction (e.g. wood frame or brick) and protection (e.g. theft and fire protection such as dead bolts, smoke detectors, etc.)
• Student or non-student status, and sometimes marital status
• If you live in a complex with four or more units
• If you have other policies with the company (e.g., auto insurance)
• How much property and liability

Will I be covered under my parents' homeowner's insurance?

Students up to age 25 are typically covered under their parents' homeowner's insurance; therefore, you may be covered. Check with your parents to determine what would and would not be covered in the event of a loss or claim.