Billing and Payments

Billing Procedures

Online payments can be made through Nelnet, via Workday, from a U.S. checking or savings account or  credit card. A non-refundable convenience fee is assessed on credit card payments. Credit balances  resulting from credit card payments will be refunded to the card used for payment. 

With Flywire, you are able to pay in your home currency (in most cases) and are offered favorable foreign  exchange rates, which may enable you to save a significant amount of money compared to traditional  banks. Wire payments can be initiated directly at https://www.flywire.com/pay/babson. Credit Balances / Overpayments resulting from Flywire payments will be refunded through Flywire to the  originating bank. 

The College recognizes that most students receive financial assistance from parents and/or various sources of  financial aid. Nevertheless, the ultimate responsibility for satisfying all financial obligations rests with the  student. 

All balances are due by the date indicated on the Student Financial Services’ website. Fall semester payments  typically are due the first week of August, and spring semester payments the first week of January.  Miscellaneous term charges typically are due in mid-October and late February, or within 10 business days if not  otherwise specified. Students are notified via email in advance of the major payment deadlines. Student account  information and balances due are available online through Workday. Failure to receive a billing notification  email does not eliminate payment obligations or prevent the assessment of late payment penalties. 

If there has been a change in room or meal plan, or some other change that affects the balance, the student  should confirm with the appropriate department that the change will be approved, and submit payment for the  adjusted balance due by the due date in order to avoid any late payment penalties. Students who receive  financial aid from outside sources should submit, by the tuition due date, documentation from the funding  organization that details the amount and payment terms of such aid. 

Questions about any of the following specific charges should be directed to the following  departments: 

• Room damage charges Residence Life 
• Laptop services ITSD 
• Lock-outs Residence Life 
• Meal plan charges Student Financial Services 
• Motor vehicle registration and parking violations Public Safety 
• Prescription/lab charges; health insurance Health Services 
• OneCard charges Public Safety 
• Registration/enrollment Registrar 
• Room charges Housing 
• Tuition charges Student Financial Services 
• Unreturned athletic equipment charges Athletics 
• Unreturned booked charges Horn Library 

Deadlines

There is a specific payment deadline for each semester. Make sure to mark down these financial aid dates for the upcoming school year.

Payment Options

All student account information is online only; paper bills are not mailed.

Students receive billing notification via e-mail to their Babson e-mail address. Students may view their accounts online, and print a PDF version of their statement, in Workday under the finances icon.

By Mail

You can send checks and money orders to Student Financial Services. Please make payable to Babson College, and mail to:

Student Financial Services
Babson College
231 Forest Street
Babson Park, MA 02457-0310

Pay Online

Pay online in Workday Finances using a U.S. checking/savings account or credit card. Students may pay with MasterCard, Amex, Visa or Discover through Nelnet, and will be assessed a convenience fee.

In Person

We accept checks and money orders in person at Student Financial Services.

Monthly Payment Plan

Nelnet allows students to split their academic term costs into convenient monthly payments for a small enrollment fee. Students, and designated Third Parties, can enroll through Workday Finances.

Nelnet Payment Plan term payments take place during:

Third-Party Payments

Any third party who will guarantee payment direct to Babson College upon receipt of invoice and without any conditions (such as a minimum grade requirement), should submit a new purchase order or authorization to Babson in lieu of payment by each semester’s payment deadline.

Wire Transfers

Babson College has partnered with Flywire to streamline the tuition payment process for our students. With Flywire, you are able to pay in your home currency (in most cases) and are offered favorable foreign exchange rates, which may enable you to save a significant amount of money compared to traditional banks.

INITIATE WIRE PAYMENTS DIRECTLY AT FLYWIRE

Returned Payments

A non-waivable service fee of $50 will be charged to a student’s account for each check or e-check returned by the bank for any reason. You will receive an e-mail notice regarding the returned payment. The e-mail will include instructions for clearing the returned payment. Babson College reserves the right to require that all future payments be made by certified check or bank check.

Extended Payment Plan for Company-sponsored Students

(available to students enrolled in the Part-Time Online MBA, Part-Time Flex MBA, or Certificate in Advanced Management programs)

This plan is designed for Part-Time Online MBA, Part-Time Flex MBA, and Certificate in Advanced Management students whose companies reimburse the student directly once the course work is completed. Students can defer two-thirds of the tuition payment until after the end of the semester, provided they guarantee the extended payment amount with either Visa or MasterCard. Please note that one-third of the balance is due on the payment due date as well as a per-semester application fee of $45. Students need to enroll in the Company Sponsored Extended Payment plan each semester through the Workday Finances Icon, then click on “set up a Payment Plan.”

Late Payment Penalties

Students who have not settled their accounts by the semester payment due date will be assessed a $200 late fee  and be denied course registration and add/drop privileges. Students may also be withdrawn from courses and  may lose College housing for the period of their housing contract. 

Students who fail to meet their financial obligations to the College are not entitled to receive a diploma or official  transcript, and are not entitled to the use of academic, administrative, and auxiliary services and facilities. Unpaid  accounts will be referred for collection action, with the fees of any collection agency - which may be based on a  percentage at a maximum of 33 1/3 percent of the debt - and all costs and expenses, including reasonable attorneys’  fees, to be borne by the student. 

Late payment penalty appeals should be directed via email to Student Financial Services at sfs@babson.edu within 10 days of notification that the penalty has been imposed. 

Returned Checks / ePayments

A non-waivable service fee of $50 will be charged to a student’s account for each payment returned by the bank  due to insufficient funds. When notified of a returned check, students have three business days to submit to  Student Financial Services a certified check or bank check in the amount due, including the service fee. In a case  where there are returned checks, the College reserves the right to require that all future payments be made by  certified check or bank check. 

Manage Your Account

You can use Workday to complete many account management tasks.

Under the Finances icon you can:

• View your student account online
• Submit payment or set up a payment plan
• Complete the required enrollment (or waiver) of Student Health Insurance.
• Request a refund

Setting up a Third Party Proxy

In the Student Profile you can:

• Set up a Third Party Proxy - A Third Party Proxy is a parent, guardian, or anyone else that the student designates to have online access to their Student Financial Services (SFS) information and make payments. 

Avoiding Late Payment Penalties

Students who have not settled their accounts by the semester payment due date will be charged a $200 late fee, denied course registration and add/drop privileges, and may be withdrawn from courses and lose college housing for the period of the housing contract. More detail about late payment penalties can be found in the 2024-2025 Undergraduate Student Handbook (pdf) and 2024-2025 Graduate Student Handbook (pdf) Student Handbooks, including information about account holds and fees on accounts referred for collection. While Babson recognizes that many students receive financial aid or monetary assistance from third parties, the ultimate responsibility for satisfying all financial obligations rests with the student.

Changing Your Meal Plan

You may change your meal plan online through the end of the add/drop period through Housing Self-Service. After the end of the add/drop period, you may increase your meal plan online through Housing Self-Service. No decreases are accepted after the end of the add/drop period.

Requesting a Refund

A credit balance (which will appear on your student account in parentheses, as a negative number) means you have excess funds on your account. You can leave these funds on your account for the next semester, or request to have them refunded. Refund requests are processed by SFS after the add/drop period has ended, and after financial aid and loan funds have been disbursed onto your account. Students who have federal Title IV student aid disbursements in an amount that exceeds the costs of tuition, mandatory semester fees, and any room and board charged by Babson will automatically have the amount of the Title IV credit balance refunded by check to their mailing address.

Book Voucher

If you have financial aid or loans that exceed billed charges at Babson, you may use these funds to purchase your course materials for the semester. At the Babson Campus Store online checkout, select Financial Aid/Scholarship under Alternate Forms of Payment, and enter your Babson College Student ID for the Account Number.

Setting up a Payment Plan

If it would work better for you to spread the payments out over a number of months rather than making a single lump sum payment each semester, go to Workday Finances to set up a payment plan.

Claiming Education Tax Credits

Students who have paid qualified tuition/fees for higher education may be eligible for certain tax benefits under the U.S. tax code. Babson reports the qualified tuition/fees that have been billed to U.S. citizens/permanent residents to the IRS each calendar year, and on 1098-T forms that are sent to students by the end of January each year. Your Social Security Number (or Tax Identification Number) is required for this process; if you have not already provided your Social Security Number to Babson please do so by submitting the information to Student Financial Services using IRS Form W9S.

If you are an international student who would like a 1098-T issued to you, please make sure Student Financial Services has your Social Security Number on file.

The best information about the tax benefits, including who qualifies and how to claim the benefits, is available in the IRS Publication 970: Tax Benefits for Higher Education (pdf). The IRS form needed to claim the American Opportunity (Hope)/Lifetime Learning Tax Credits is Form 8863: Education Credits (pdf).​​​

Eligible students please see Important Information for U.S. Tax Filers (1098-T) (pdf) to download 1098-T forms.

Understanding California STRF

California residents who pay for tuition in a California-based program are required to be assessed a state fee for the California Student Tuition Recovery Fund (STRF). For Babson students, the STRF applies to California residents enrolling in the San Francisco Blended Learning MBA Program and those attending the San Francisco Babson Undergraduate Semester.

The purpose of STRF is to relieve or mitigate economic losses suffered by California residents enrolled in California-based educational programs in the event of a school closure. Effective January 1, 2015, the STRF assessment rate is zero ($0) per $1,000 of institutional charges. The STRF rate is subject to change based upon the balance in the State of California Student Tuition Recovery Fund. If and when the assessment rate increases, Babson will charge and collect the assessment from qualifying students for each period of enrollment.

For more information about the California STRF, including how to file a claim in the event of school closure, go to the California Bureau for Private Postsecondary Education Student Tuition Recovery Fund​ page.