Frequently Asked Questions

Q: How do I pay for College?

A:  All students are encouraged to submit a FAFSA in order to qualify for federal, state, and/or institutional aid. Please view Options to Pay the Balance for more details on paying the balance due.

Q: What is the balance due?

A:  The balance due is the difference between a student’s charges and their verified financial aid. It is the student’s responsibility to pay this balance by the due date. On the student’s billing statement at Campus Cafe, the amount due can be found on the bottom right of the statement as “Total due less verified”.

Q: When are bills due?

A:  Bills for the Fall semester are due on July 15 and bills for the Spring semester are due on December 15. While not required, students and their families can create payment plans or borrow loans to finance the whole academic year if they wish.

Details on when bills are due for Winter and Summer classes will be included with the course information. Details on when the balances are due for the Summer Travel Abroad Programs are included in the trip application.

Q: When is the late fee is charged? Can the late fee be waived?

A:  The late fee is a one time fee of $125 that is applied to a student’s bill if the balance is not paid on time. The SFS office will assess late fees two weeks after the due date, issue the student a warning, then charge the fee a week later.

The SFS Office may consider waiving the late fee only if the balance is resolved shortly after the fee is charged.

Q: How do I waive the Health Insurance? Do I need to do this every year?

A:  To waive the health insurance fee, students or parents must complete an online waiver form through University Health Plans. Visit, log in using your Montserrat email, which is your [email protected], and either submit an MHPA waiver form or complete the questionnaire.

If students or parents have any questions, please call University Health Plans at 800-437-6448 or the SFS office at 978-921-4242 ext 1174. After the waiver is completed, the College will be notified and take the fee off the billing statement within a business day. If this is not completed on time, students risk forfeiting their right to waive the fee.

If students have comparable coverage and want to waive the insurance fee, they will need to complete a waiver every academic year by the bill due date.

Q: What’s included in the art supply starter kit? As a transfer student, can I waive the kit?

A:  The Inventory for the Starter Kit can be viewed here. Montserrat College of Art strongly encourages first-year students to accept the kit as it will have all the supplies needed for their foundation courses including Art History.

Because transfer students may not be enrolled in Foundation courses, they may waive the kit by completing an online form. It’s recommended that transfer students check in with the Registrar and/or Bursar before submitting the kit waiver.

Q: How do I learn more about the Tuition Payment Plan on Cashnet?

A:  Cashnet is the name of the servicer the College uses to manage payment plans, and where students/families can make their monthly payments. We recommend students and/or their families set up their payment plans four weeks in advance of the plan start-date. You can choose either an 11, 10, or 8-month annual plan, or a 5 or 4-month plan by semester that divides your balance into smaller, more manageable monthly installments.

Please see our FAQ about Tuition Payment Plans and Cashnet for more information.

Q: How can I pay for the Study Abroad Programs? Are there scholarships or grants available?

A:  Students have the following options to pay for the study abroad programs:

  1. Make a direct payment(s)
  2. Have a parent borrow a summer Federal Parent Plus Loan
  3. Borrow a summer private loan

Students can apply for scholarships awarded by the Program Coordinator. The Federal Pell Grant may be available to qualifying students, and students are encouraged to visit the SFS Office to learn more.

Because the study abroad programs require a non-refundable, non-transferable deposit, students are strongly encouraged to confirm their plans to finance the trip prior to submitting the deposit.

Q: What is the 1098 T?

A:  Form 1098 T is a “Tuition Statement” that eligible educational institutions are required to provide to enrolled students who have reportable transactions. Information reported on Form 1098 T can assist taxpayers to determine their eligibility for education tax credits. Receiving a 1098 T form does not mean you are necessarily eligible for an education tax credit. To determine your eligibility, contact your tax advisor or visit the IRS website.

Montserrat College of Art makes the 1098 T form available to students by January 31 annually. Students can select to have the form mailed to their house or retrieve it online. If a student is having trouble accessing their form, they can contact [email protected].

Q: What information is included on the 1098 T? What should I do with this information?

ABox 1 – Indicates any payment made by/for the student and received by the educational institution for qualified* tuition and related expenses.

Box 2 – (Tax years 2003 to 2017) indicates any qualified tuition or related expenses billed to the student by the educational institution.

Note: The school cannot report amounts in both box 1 and box 2. Starting in 2018, all schools will only report amounts paid for qualified tuition in Box 1.

Box 3 – If checked, this indicates that the reporting method (Amounts Billed or Payments Received) has changed from the prior year.

Box 4 – Indicates any reductions to eligible expenses reported for any prior year since 2003.

Box 5 – Indicates the amount of scholarships and grants processed for the calendar year that are applicable to qualified expenses.

Box 6 – Indicates any reduction amount to scholarships or grants reported for any prior year since 2003.

Box 7 – Indicates payments received for qualified tuition and related expenses reported in the current year of the 1098 T that relate to an academic period that begins in January through March of the subsequent year.

Box 8 – If checked, this indicates the student was at least half-time or greater for at least one academic period during the tax year.

Box 9 – If checked, this indicates the student was a graduate student for at least one academic period of the tax year.

Box 10 – Indicates the amount of any insurance contract reimbursement or refund.

Qualified* expenses are tuition and certain related expenses required for enrollment or attendance. Expenses that do not qualify include, room and board, transportation, insurance, sports, games, and any noncredit courses.

Because the 1098 T Form does not include how much a student was charged for qualified expenses, the SFS Office recommends that students and their families take their 1098 T form and a copy of the student statement to a tax advisor. Students can retrieve their statements on Campus Cafe.


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[email protected]

978-921-4242 X 1174
978-921-4242 X 1172

FAX: 978-922-4268

The Student Financial Service Office is open Monday through Friday from 9 am to 5 pm.