Student Accounts collects all tuition payments and ensures that all charges for tuition, room, board, fees and other related charges are appropriately applied to student accounts.
Students who wish to distribute payment over several months may make payment plan arrangements. Lincoln College offers three payment plan options for the payment of tuition and fees.
Single Payment in Full each Semester
A single payment in full of the student account balance due each semester from my/our own funds. Fall semester payment is due August 1st.
Spring semester payment is due January 1st
Monthly Installment Payment Option – $75 Fee Per Semester
Payment of one-fifth the semester fees on the 1st of each month. Fall semester payments are due July through November and Spring semester payments are due December through April. There is a surcharge per semester associated with this plan.
Student Account Statements
Tuition and required fees, room and board charges are billed by semester. Other fees and charges are assessed as they are incurred and billed monthly. Statements are mailed on the 15th of each month, if the student balance is more than $10. Please review your student account statement carefully. Your student account statement is mailed to the permanent address you provided to the College. If your mailing address changes, please contact the Registrar’s Office.
Credit on Account
After actual charges are applied to the student account and financial aid has been received and applied, an actual refundable credit may appear on your account and a refund will be made.
When a student leaves school before completing a period of enrollment a refundable credit balance may or may not result on a student account. Students who withdraw from the College are subject to possible financial aid adjustments. Students are cautioned that withdrawal from the College may result in an increased balance due from the student and that such a balance is due and payable at the time of withdrawal.
Once a student has withdrawn from the College, refunds will be computed and issued by the Business Office. No separate refund request is necessary. All refunds will be by check and mailed to the address on record.
Registration for another semester will generally not be permitted until a student has fully paid all charges for the preceding semester. No transcript of academic record or diploma will be issued to a student who has not discharged all financial obligations to the College.
The Form 1098-T is used by eligible educational institutions to report information about their students to the IRS as required by the Taxpayer Relief Act of 1997. Eligible education institutions are required to submit the student’s name, address, and taxpayer’s identification number (TIN), enrollment, and academic status. Beginning with 2003, educational institutions must also report amounts to the IRS pertaining to qualified tuition and related expenses, as well as scholarships and/or grants. A Form 1098-T must be provided to each applicable student. This form is informational only. It serves to alert students that they may be eligible for a federal income tax education credit. It should not be considered as tax opinion or advice. While it is a good starting point, the Form 1098-T, as designed and regulated by the IRS, may not contain all of the information needed to claim a tax credit. There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.