New York Medical College
40 Sunshine Cottage Road
Valhalla, New York 10595
Payment of Tuition and Fees
Tuition and fees are due to be paid as follows:
- On the day of summer registration, 1/2 of tuition and all fees for the academic year.
- On January 30, the remaining 1/2 of tuition. Interest will be charged on all outstanding amounts after the above due dates.
In addition, a late fee of $100 will be charged to accounts and subject to interest charges.
The interest rate to be charged on these accounts will be that of the current private loan rate on the day the tuition payment was due.
An exception to interest charges and late fees will be made for newly entering students. These students will be extended a 90-day grace period beginning with the date on which the College accepts the student. During this grace period, the interest rate for outstanding amounts covered by certified loan applications will be two percentage points less than the current private loan rate described above for that portion of the 90-day grace period falling after the above payment due dates. In addition, the late fee will not be applied to balances subject to this lower interest rate, if such balance is totally covered by certified loan applications. If the loan(s) is not approved for any reason, interest and late fees will accrue from the date of registration at the higher rate.
A charge of $25 plus expenses will be assessed for the first check returned by the bank as unpaid. All subsequent unpaid checks will result in a charge of $50 plus expenses. Unpaid checks will be regarded as "not received" for purposes of determining applicability of interest and late fee charges.
Any student whose account is in arrears will not be granted a degree or issued a transcript. Registration for the next academic year may only occur upon the recommendation of the Vice Dean for Medical Education and the Vice President of Finance.
February 18, 2011