Billing & Payments
Payment by Check
Checks shall be made payable to the “Michigan School of Professional Psychology” and mailed to:
26811 Orchard Lake Road
Farmington Hills, MI 48334
Payments may be hand delivered and placed in the Cashier’s lock-box located near the faculty mailboxes at MiSPP.
Payment plans may be available upon request. Interested students should contact the Office of Financial Aid to set up a payment plan. Payment plans typically require a down payment followed by four equal monthly installments. Students on a plan must maintain good payment standing in order to attend classes, avoid interest charges, and to remain eligible for the payment plan. Students may be restricted from attending classes and/or holds may be placed on academic records, transcripts, and library privileges for failure to pay on the student account in accordance with payment terms.
Tax Benefits for Students
A 1098-T tuition statement is provided electronically to current students and filed by the IRS deadline for tax filing purposes. Refer to publication 970-Tax Benefits for Higher Education and tax sections under tuition and fee deductions, lifelong learning and hope credits, and educational loan interest deductions for additional information.
Return of Title-IV Funds
MiSPP follows the refund policy of the U.S. Department of Education for students who are recipients of Title IV funds. The Michigan School of Professional Psychology is responsible for providing each student with the information given in this policy, identifying students who are affected by this policy and completing the Return of Title IV Funds calculation for said students. This policy supersedes policies published previously and is subject to change at any time.
The term “Title IV Funds” refers to the Federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the Stafford and Grad Plus loan programs. This refund policy applies to students who withdraw prior to the date that marks the 60% point of the semester (described below). This date determines a student’s amount of Title IV funds earned for said period. MiSPP will determine the student’s official withdrawal date as:
- the date the student initiated the official withdraw process through the Registrar’s Office;
- the midpoint of the semester if the student ceases attending without notifying MiSPP,
- the student’s last date of attendance at an academically related activity (to include class attendance).
The return is determined on a pro-rata basis. It is based on calendar days, including weekends (and holidays no longer than five consecutive days), up to the 60% point in the semester. When students withdraw from classes prior to the 60% point, the Title IV financial aid must be returned to the lender on a pro-rated basis according to the last date of attendance. After the 60% point, Title IV assistance is viewed as 100% earned. A copy of the worksheet used for this calculation can be requested from the Financial Aid Office.
In accordance with federal regulations, Title IV Funds returned to the lender shall include Unsubsidized Stafford and Grad Plus loans. The student is responsible for returning to MiSPP, any Title IV funds that were disbursed directly to the student and which the student was determined to be ineligible for via the Return of Title IV Funds calculation. Payment from the student resulting in a balance due is payable within 60 days.
After calculating return of Title IV loans, a balance may exist on account. The guidelines of the Title IV Student Assistance General Provisions also allow an institution to assess a reasonable administrative fee not to exceed the lesser of five percent of the tuition, fees, and other charges assessed the student, or $100, whichever is the lesser amount. A student must pay any balance due within 60 days of the notice that is provided upon withdrawal and must complete exit counseling.