Finances

When you accepted Stanford’s offer of admission, you made a binding contract with the University to pay all debts, including tuition and fees, for which you are liable. The University’s financial agreement is with you personally, not with your parents. For this reason, it is important to study this section carefully in order to understand your financial responsibilities as a Stanford student.

Prior to the start of New Student Orientation, you should set up your online accounts in Axess with Direct Deposit and Stanford ePay, Stanford University’s standard funding and payment methods, which are fast, secure, and unaffected by student address changes.

THE UNIVERSITY BILLING PROCESS

Billing and payment services are provided electronically on a monthly basis through Stanford’s online billing and payment service, Stanford ePay. Bill notification is sent to your @stanford.edu email account.

Bill Structure and Components

Charges and credits from University departments are aggregated in a student’s individual account and presented on the monthly bill. Charges for tuition, room, and board are billed prior to the beginning of each academic quarter. Examples of other quarterly charges are ASSU fees, the Campus Health Service fee, and, if not waived, the Cardinal Care Health Insurance fee. Charges such as cable TV and other IT services are billed monthly as incurred. (See Undergraduate Fees.)

The August bill only will reflect the annual Post Office Box fee, a one-time document fee, and a one-time Orientation fee. Other monthly charges may include phone feature fees, miscellaneous items such as music lessons, room damage or room re-key charges, StanfordCardPlan purchases, and changes to the quarterly charges listed above.

Posting of or adjustments to University charges to student accounts may occur at any time during the academic year. Students who are not enrolled at the University (e.g., due to leave of absence, withdrawal, graduation, or discontinuation) may see adjustments to charges and/or financial aid on their account. If changes occur, additional bills may be generated after students have left campus and you must maintain a current email address in Axess to ensure you continue to receive billing notices.

In addition to the charges on your University bill, students are expected to need funds for books and out-of-pocket personal expenses such as cell phone service, toiletries, bicycle repairs, and snacks. An estimated student budget is available at financialaid.stanford.edu/undergrad/budget. These charges are not included on your University bill unless paid for using the

The StanfordCardPlan (SCP) allows you to use your Stanford ID card to make purchases of up to $1,000 per quarter at the Stanford Bookstore and other on-campus locations. The charges are added directly to your University bill. The SCP accommodates the needs of students who must purchase books and other necessities early in the quarter before their financial aid is available. You use Axess to sign up for the SCP and confirm your agreement to the SCP Terms and Conditions.

Due Dates

For undergraduate students, all term charges (tuition, health insurance, ASSU fees, and a one-time document fee) are due prior to the start of the quarter unless otherwise specified. All other charges are billed and due monthly. Monthly bills are generated on the 20th of each month (or the nearest business day thereafter) and due on the 15th of the following month. Your first University bill will be generated on August 20. Payment for charges on this bill will be due by September 15.

The Installment Payment Plan (IPP) offers undergraduate students the option to spread payments of Tuition and Fees over nine months (July – March). This option provides a resource for families to budget payments on a monthly basis instead of making large outlays quarterly. The IPP is available to matriculated undergraduate students for Autumn, Winter, and Spring Quarters. No enrollment fee applies and installment payments are not enforced. The final due date for Tuition and Fees remains unchanged each term.

Payment Methods

Stanford ePay is Stanford’s standard method for students and Authorized Payers to make payments to your University account. Students access ePay via Axess and manage the access for any Authorized Payers. ePayments may be made in U.S. dollars or foreign currencies.

Authorizing Others to Make Payment on Your Account You may authorize third parties, such as your parents, to view your Stanford ePay account and make payments on your behalf. Once authorized, these individuals are referred to as “Authorized Payers” and can use Stanford ePay to access your billing and account information and make payments. Authorized Payers cannot set up other authorized payers. Students may revoke Authorized Payer access at any time by removing the Authorized Payer’s access to Stanford ePay.

Payments Received Containing Financial Aid

All financial aid funds, such as scholarships and employee tuition benefit plans, must be reviewed first by the Financial Aid Office before the Student Services Center can apply the funds to the student’s account. Therefore, when a financial aid check is submitted to the Student Services Center, the funds are applied to the student’s account. All payments made with financial aid are exempt from late fees.

Refunds

Refunds to students may result from an overpayment of charges or excess financial aid funds after charges specified by the financial aid source are paid. These circumstances will result in a credit balance on the student account. Credit balances resulting from excess financial aid funds that are refundable are processed three times per week. Credit balances resulting from an overpayment of cash (e.g., ePayment, wire, check) are held on the student account to be applied to future charges. A refund of a cash overpayment will be provided at any time upon the student’s request. Annually in August, Student Financial Services will refund all remaining overpayments of cash from the prior academic year to students. Students should enroll in Direct Deposit at the beginning of their Stanford career so that any refunds may be expedited.

Direct Deposit is Stanford’s standard method for refunds as it is fast, secure, and convenient for students. Students enroll in Direct Deposit via Axess. Students using Direct Deposit are responsible for ensuring the accuracy of routing and bank account numbers.

Note: receipt of a refund does not imply that all charges on your bill have been paid. Students are responsible for reviewing their bill and ensuring all charges are paid by the due date.

Student Permissions is an optional feature in Axess by which a student can authorize Student Financial Services to apply their financial aid funds to all charges in the current term on their University bill. Without Student Permissions, some financial aid may be restricted from paying some charges. Signing up for Student Permissions prevents the student from receiving a refund check of financial aid when the student account has a remaining balance due. Your decision whether to sign up for Student Permissions will not affect the amount of your charges or your financial aid award.