Navigating Student Accounting at Illinois Institute of Technology: A Comprehensive Guide

The Illinois Institute of Technology (IIT) provides various resources and procedures for students to manage their accounts, tuition, and financial aid. This guide aims to provide a comprehensive overview of student accounting at IIT, covering topics from accessing bills and making payments to understanding tuition deferment plans and health insurance requirements. For any additional questions, students are encouraged to contact the Student Accounting Office directly.

Accessing Your Student Account and Bills

IIT utilizes an online system for students to manage their accounts. After registering for courses, students can access their accounts through the Illinois Tech Portal, where they can print bills, make online payments, enroll in a payment plan, and set up direct deposit for tuition refunds. To access your student account, log in to the Illinois Tech Portal and click on the "Manage My Account" icon. An archive of all recent bills is available online through this portal.

E-Bills: IIT does not send paper bills. Instead, students receive electronic bills (E-Bills) posted to their online accounts. It is important to periodically review your account and make outstanding payments promptly. Failure to pay by the published due date results in a 2% late payment fee.

Making Payments

IIT offers multiple payment methods for tuition and fees. A complete list of these methods, including instructions for sending a wire transfer, can be found on the Payment Methods page.

Online Payments: If you have a domestic bank account, you can make payments for free online via electronic check, using your bank routing and account number. Access the secure online pay site through the portal by clicking the "Manage My Student Account" tool. Credit cards are also accepted online, but they incur an additional transaction fee.

Understanding Course Add/Drop and Withdrawal

Students need to be aware of the deadlines for adding, dropping, and withdrawing from courses, as these actions have financial implications. These deadlines are posted on the Academic Calendar, with special deadlines noted for non-full term courses like short courses.

Dropping a Course: Dropping a course refers to removing it from the student's schedule before the add/drop deadline. If a course is dropped before the deadline, it will not appear on the student's transcript, and the student will not be charged any tuition or fees associated with the course. The removed credits also do not count toward the student's maximum credit hours.

Withdrawing from a Course: Withdrawing from a course occurs after the add/drop deadline. In this case, the course remains visible on the transcript, and a letter grade of 'W' is assigned. Withdrawn credits count toward the student's total maximum credit hours. The student is responsible for any tuition and/or fees associated with the course, and the student's GPA is not affected.

Tuition Refunds and Direct Deposit

IIT requires all students to enroll in direct deposit to receive tuition refunds. Refunds from financial aid credits are processed throughout the semester. There is no fee for receiving refunds via direct deposit. Students can enroll in direct deposit online through the "Manage My Account" link in the Illinois Tech Portal. This ensures the confidentiality of all bank information.

Financial Aid and Title IV Funds

Financial aid awards, including loans and scholarships, are applied directly to the student's account, reducing the total amount of tuition and fees owed for the semester. Students will receive a refund for any portion of their federal loans that exceeds their total tuition and fee balance.

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Title IV Fund Holds: Unless students provide authorization, federal loan money cannot be automatically used to pay for health insurance fees, parking charges, and other items on the bill. To avoid receiving a financial aid refund while still owing money to IIT, students are encouraged to authorize the university to use their Title IV Federal Financial Aid funds to pay additional fees. A completed Title IV form is essential for this. Account balances can prevent registration for the next term.

Tuition Deferment Plans

IIT offers tuition deferment plans to assist students who receive tuition reimbursement from their employers or are sworn officers of the Chicago Police Department (CPD).

Employer Tuition Deferment Plan

The Employer Tuition Deferment Plan allows students whose employers offer tuition reimbursement to defer the reimbursable portion of their tuition until three weeks after grades are posted for the fall and spring semesters.

Eligibility Requirements:* Submit a letter from the employer on letterhead stating the terms of the tuition reimbursement, including the percentage covered, maximums per year, and coverage (e.g., tuition only or tuition and fees). The letter should also state the approximate timeframe in which the employer will make the payment for reimbursement (no later than three weeks after grades are posted).

Complete the Employer Tuition Deferment Plan Application.
Pay a $55.00 non-refundable Employer Tuition Deferment Plan fee.

Ineligibility: Students are ineligible for the Employer Tuition Deferment Plan if they meet one or more of the following conditions:

Unpaid/defaulted Employer Tuition Deferment Plan from a previous semester.
One or more requirements listed above was not completed/received by the end of the add/drop period.
Already receiving financial aid awards that pay the account balance in full.

The eligible amount of deferred tuition is based on the employer reimbursement eligibility and any combination of financial aid awards received. Students cannot defer tuition and expect to receive a refund for aid disbursed to their account, as the total amount of financial aid disbursed and deferred tuition cannot exceed the total amount of tuition and fees assessed for the semester in which deferment is applied.

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Out-of-pocket payments are due in full by the end of the add/drop period each semester. Unpaid balances will be subject to late fees each month. IIT reserves the right to discontinue this plan at any time.

Statement of Financial Responsibility: By applying for IIT's Tuition Employer Tuition Deferment Plan, students acknowledge that their employer's tuition reimbursement plan has qualifying conditions that they must meet in order to be reimbursed. If the company refuses to pay the bill within the usual timeframe for tuition deferment, the student will be personally responsible for the tuition and will be required to pay the bill in full. A deferred payment fee of $55.00 is due at the time of application and is non-refundable. If the tuition due under this agreement is not paid within three weeks following posted grades, the student authorizes their employer to withhold the amount due from their pay and to pay that amount to the Illinois Institute of Technology. Any amount not covered by the terms of the company’s tuition reimbursement policy is due in full by the end of the add/drop period and is subject to fees and a hold preventing registration for the next term.

Chicago Police Department (CPD) Tuition Reimbursement Plan

IIT also offers a tuition reimbursement plan for sworn officers of the Chicago Police Department (CPD).

Application Requirements: To apply for the plan, sworn officers must complete the following steps prior to the published add/drop date each semester:

Submit a letter from the CPD stating eligibility for tuition reimbursement. The letter must be dated on letterhead and must state the full terms of the tuition reimbursement, including the percentage covered, maximums per year, and coverage (e.g., tuition only or tuition and fees).

Fees (such as UPass, activity, and student service fees), which are not covered by the CPD Tuition Reimbursement Program, will be due in full by the end of the published due date each semester.

Obtaining E-Bill for CPD Reimbursement: Officers enrolled in the IIT Chicago Police Department Reimbursement Plan will receive a final bill that is suitable for submission to the CPD Human Resources Division. E-bills can be accessed through the Illinois Tech Portal, under the “Manage My Account” tool. Click the eBills tab to locate and print the bill.

Statement of Financial Responsibility: By applying for the Chicago Police Department Tuition Reimbursement Plan, officers recognize that their employer's tuition reimbursement program has qualifying conditions that must be met in order to be reimbursed. Upon receipt of the tuition reimbursement check, officers must immediately make payment in full to Illinois Institute of Technology for that semester. Should the company neglect to pay this bill for any reason, the officer will be personally responsible for this tuition and will be required to pay the bill in full. Any amount not covered by the terms of the company's tuition reimbursement policy is due in full by the published due date and is subject to fees and a hold preventing registration for the next term. If the requirements to be eligible for IIT's CPD Tuition Reimbursement Plan are not met by the deadline, the tuition will not be deferred and will be due by the published due date.

Health Insurance

The Illinois Institute of Technology requires all students registered for one or more academic credit hours to have health insurance. The Student Health Insurance Plan (SHIP) is insured by Aetna Student Health. The plan is ACA compliant and includes access to Aetna’s national network of PPO providers. Students do not have to select a primary care physician, and referrals are not required. Benefit information and links to the online ID card and claims portal can be found on the designated page.

IIT has partnered with University Health Plans to administer the plan and help with waiver, enrollment, or benefit-related questions.

Waiving the SHIP: Students covered by a comprehensive health insurance plan can opt out of the IL Tech SHIP by completing the waiver form. Before waiving, students should compare the cost, coverage, and benefits of the SHIP to their existing plan.

International Students: All international students are automatically enrolled in the SHIP and do not need to take any action. International students can only waive if they are enrolled in an Embassy-sponsored plan or a US-filed and approved, ACA (Affordable Care Act) compliant plan that provides both emergency and non-emergency care in Illinois, specifically the Illinois Institute of Technology campus area. Health insurance plans marketed solely to international students are often not filed in the US and have limited benefits and/or coverage periods that do not comply with the waiver requirements. Companies such as ISO, PSI, Student Medicover, PGH Global, DIANins, TATA, WellAway, and NYIS Insurance are examples of companies that do not meet the waiver requirements.

Enrollment: Eligible students who wish to enroll in the Illinois Institute of Technology student health insurance plan do not need to take any action and will be automatically enrolled by the school. The premium charge will be applied to the student's IL Tech student account. Students who waived the SHIP may qualify for special enrollment rights if they incur an involuntary loss of other coverage. To request an enrollment form and premium quote, contact the Student Health & Wellness Center at 312-567-7550.

Perkins and Institutional Loans

IIT has contracted with ECSI, a third-party loan servicer, for all Perkins and institutional loans. Any questions or issues related to these types of loans should be directed to that company.

Obtaining Unofficial Transcripts with a Hold

Students with a Student Accounting hold on their account can still obtain unofficial transcripts through DegreeWorks. To access DegreeWorks, log in to the Illinois Tech Portal and locate the DegreeWorks system under Tools (select either undergraduate or graduate, depending on your student type). Once in DegreeWorks, click on Class History. Official transcripts for employment purposes can be released directly to the employer.

Authorized Users

Students can add other people as Authorized Users who can view their account information and/or make online payments to their account. Access your student account through your Illinois Tech Portal, “Manage my Account” Tool and add Authorized Users through the Authorized User tab.

Tuition Remission for IIT Employees

Tuition remission is a benefit available to eligible IIT employees. To determine eligibility, please confirm with Human Resources. The full HR policy related to processing tuition remission benefits can be found on the Work tab on the Human Resources portal page.

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