Finance Charges

A finance charge of 1% per month (ANNUAL PERCENTAGE RATE OF 12%) is applied to the adjusted balance due on the 10th of each month. As of the 10th day of each month (or the first business day thereafter), the College will calculate the new balance due by taking the previous balance and subtracting payments and other credits. Financial aid, which includes outside scholarships, will only be subtracted as the funds are received by the College, or in the case of student employment, as it is earned.

• If you feel your finance charge should be reversed due to extenuating circumstances, you may fill out an appeal. Appeals must be submitted within 30 days of the date that the finance charge was posted on the account.
• All appeals go through a review process. The appeals are reviewed by an Appeals Committee in accordance with the College of Saint Benedict Payment Agreement and Disclosure Statement or Saint John’s University Payment Agreement and Disclosure Statement.
• ALL REVIEW DECISIONS ARE FINAL. Individuals will be notified via email of the decision within 10 days of the review.

If you have questions or concerns, please feel free to contact the College of Saint Benedict Student Accounts Office at 320-363-5387 or Saint John’s University at 320-363-2193.

ADDITIONAL RESOURCES:

• General Policies
• Deposits and Withdrawal Information
• Federal Perkins Student Loans
• Finance Charges
• Health Insurance
• Secure Site information
• Your Billing Rights