Payments, Exchange Rates and Dollar Payments
Whether you live in a University residencia or with a host family, you make housing payments directly to the Madrid Campus. Housing prices are quoted in euros. Due to fluctuations in exchange rates, to lock in a dollar price we strongly encourage you to pay housing on-line with a credit card. On-line payment instructions will be forwarded to you when the housing placement is finalized.
For convenience, however, we allow Americans to pay by check or money order in dollars. If you wish to pay by personal check or money order, please consult the exchange rate at http://www.xe.com. The University will credit or debit to your account in Madrid any over- or under-paid amount arising from exchange rate fluctuations during the transaction period.
If you have chosen to pay in installments and fail to make the initial payment by the deadline indicated on your housing confirmation sheet, the full housing payment will be due immediately.
Responsibility for Payment
The University works directly with students to resolve all financial matters. If parents or guardians are responsible for payment of housing, it is the student’s responsibility to make them aware of the payment schedule. Students, not parents, receive the billing notices.
Overdue/Unpaid Housing Balances
Failure to make the complete housing payments by the deadline or personalized payment schedule may result in the loss of the security deposit and forfeiture of your housing assignment. You will not receive a reminder for each payment deadline. Students who have a housing balance due at the end of the semester will not be allowed to take final exams and will forfeit their complete housing deposit.
Financial Aid Recipients (U.S. Students) - If you’re paying for housing with federal financial aid funds, you’re responsible for making your own housing payments. The financial aid office on the Saint Louis Campus (Missouri, U.S.A.) does not withdraw your housing payment from your financial aid stipend. The balance of your disbursement (after tuition is withdrawn) is sent to your permanent address. Even if you do not receive your financial aid check before departing for Spain, you must still advance payment for housing to reserve your housing assignment, or accrue the penalties outlined above in Overdue/Unpaid Housing Balances. If you have further questions about financial aid policy, contact finance@madrid.slu.edu.
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