Billing and Payments

Billing Procedures

Students are notified via email before each payment deadline. Student account information and balances  due are available online through Workday. Although the F.W. Olin Graduate School of Business at Babson  College recognizes that many graduate students receive financial aid or monetary assistance from third  parties, the ultimate responsibility for satisfying all financial obligations rests with the student. 

Please note that failure to receive notification of a payment deadline does not eliminate payment obligations or  prevent late payment penalties. 

Tuition charges are generated from information provided by the registrar. Contact the Registrar’s Office  (with any questions about the courses for which one is registered and being charged. Information about  withdrawing from courses and the resultant tuition adjustments is available in the section titled Course  Changes. 

Admission enrollment deposits are non-refundable after 3 business days. For information about alumni  and corporate tuition reduction programs, please visit www.babson.edu/admission/tuition-aid. 

Payment for miscellaneous charges istypically due 10 days after the charges have been posted. Questions  about any of the charges listed below should be directed to the appropriate office: 

Babson charges a $50 fee if a payment made from a checking or savings account cannot be  processed because of insufficient funds or incorrect information. 

Deadlines

One-Year MBA

Two-Year MBA

Part Time/Online MBA

Blended Learning MBA—Miami

MS Programs Deadlines

Master of Science In Management In Entrepreneurial Leadership (MSEL)

Master of Science In Advanced Entrepreneurial Leadership (MSAEL)

Master of Science In Finance (MSF)

Master of Science In Business Analytics (MSBA)

Certificate Program Tuition

Certificate in Advanced Management (CAM)

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 

A $200 late payment fee will be charged to any student who has not met the semester payment deadline.  Also, the F.W. Olin Graduate School of Business will hold academic transcripts, hold diplomas, prohibit  registration for a subsequent semester, and prohibit participation in Commencement exercises for any  student who has an outstanding balance owed to the College. 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. Students who wish to appeal a late payment penalty must do so in writing to Student Financial  Services 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.