Costs and Financial Assistance

• Financial Planning
• Tuition Refunds and Title IV Return Policy
• Tuition and Charges
• Financial Assistance
• Sources of Financial Aid

Financial Planning

Simpson College is a nonprofit educational institution providing students with a rich academic environment in which they can learn and grow. As such, the College must charge tuition and fees for the services it provides. A portion of the tuition and fees is covered by income from endowments and other gifts from friends of the College.

Payment of Student Accounts

Before the beginning of fall semester, the Business Office will send each student an estimated bill showing the total charges for the semester and the financial aid expected to be credited to the student account. For the spring semester, students should access their bills through their SC Connect account. The estimated bill will be mailed around July 1st for the fall semester and available on SC Connect December 1st for the spring semester. All charges for tuition are due prior to the beginning of each term.

Tuition & fees should be paid in full on the dates specified above, unless you sign up for our monthly tuition payment plan (see below). Payments can be made in cash, by check or with a credit or debit card (3% processing fee added). Payments may be made at the Simpson College Business Office, through the online SC Connect student portal, over the phone (credit card only with a 3% fee), or by sending check through the mail. We also accept 529 payments. These can be sent from various 529 administrators via check directly to Simpson.

If an account is not paid in full by the due date, the College regards the account as delinquent unless satisfactory financial arrangements have been made with the Business Office. Students with accounts considered delinquent are not entitled to future registration, housing, food plans, or issuance of transcripts.

Finance charges are assessed at a daily rate of 0.05% (18% A.P.R.) on the unpaid balance not covered by the payment plan. Finance charges are calculated at the end of the month and added to the student’s account.

Textbooks

Textbooks can be purchased from our online exclusive supplier, Akademos, at www.simpson.textbookx.com. All forms of payment are accepted in store including Apple pay. Students should be prepared to pay approximately $1,168 each year for books.

Monthly Payment Plan

Simpson College offers a monthly payment plan for those who wish to budget tuition, housing and food plan payments in monthly installments. The Tuition Payment Plan is administered by a third-party administrator, Transact, powered by Cashnet. It provides an opportunity to make monthly payments without incurring finance charges or fees. There is a $30 fee for each semester to set up a plan. A new plan must be set up each semester, as Simpson is on semester billing. Payments may be taken out automatically from a checking account or placed on a credit or debit card. Payments may also be set up to be completed manually from a checking account or with a credit or debit card. Processing fees are assessed when using a credit or debit card. Information on the tuition payment plan can be found here:  https://commerce.cashnet.com/simpsonpay.

Credit Balances

Federal regulations require credit balances created by Title IV funds to be refunded to the student within 14 days. Students who want credit balances retained by Simpson College for the academic year must give written authorization to the Business Office.

Residence Hall Community Damage Fund

Each student living in College owned housing is billed ten dollars at the beginning of each term as an assessment for the Residence Hall Community Damage Fund for each residential unit. The amount is included as a part of the total Residence Hall room charge. Unidentified vandalism costs incurred through the term will be totaled and deducted from the fund established for each unit. Any remaining monies after damage billings at the end of each term will be turned over to the residence hall activity account for each unit. Residence hall activity accounts are utilized under the direction of the residence hall council and residence hall staff for each respective building. In the event that unidentified vandalism charges in any one term exceed the Residence Hall Community Damage Fund, residents will be individually billed for excess charges.

Personal Property Insurance

The College does not carry insurance on personal property of students, faculty or staff and is not responsible for the loss or damage of such property.

Tax Benefits

There are tax benefits available to help reduce the financial impact of higher education. For more information, please consult your tax advisor.

Tuition Refunds and Title IV Return Policy

Adjustments due to enrollment changes

A reduction of credit hour enrollment within the add/drop period of the semester or term may occur without tuition penalty. Tuition charges and financial aid offers will therefore reflect the student’s enrollment at the end of the add/drop period. (The add/drop period is always posted on the academic calendar). After the add/drop period has expired, a change from full-time to part-time status or a reduction in any credit hour enrollment, other than a complete withdrawal, will not change tuition charges or financial aid. For example, a student enrolled full-time will receive no tuition adjustment for dropping below full-time enrollment after the add/drop period of the traditional semester. Tuition adjustments for increased enrollment will continue throughout the term.

Title IV Return Policy and refunds due to student’s complete withdrawal from the College (R2T4)

A student interested in withdrawing from Simpson College should file a withdrawal form in the Office of Student Development or the Office of Continuing and Graduate Programs and make an appointment with the Office of Financial Aid in order to fully understand the financial implications of doing so. However, a student may also call or email the Office of Student Development or the Office of Continuing and Graduate Programs to begin the process.

Simpson College engages faculty and staff members in advance for a full academic year. Many other expenses for maintaining the college are likewise commitments of one or more years into the future. Therefore, a student who withdraws does not reduce materially the costs of operating the college. A student who withdraws before the 60% point in time in the semester or summer session will receive a refund of applicable tuition, room, board (meal plan) and fees. The amount of the refund is based on the percentage of the semester that has not been completed. Financial aid will be returned to federal, state and Simpson programs based on the same percentage. Title IV aid that is unearned is required to be returned and credited in the following order: Federal Direct Unsubsidized Loans, Federal Direct Subsidized Loans, Federal Direct PLUS (Graduate Students), Federal Direct PLUS (Parent), Federal Pell Grant, Federal SEOG, TEACH Grant, Iraq and Afghanistan Service Grant, and other Title IV aid. Simply stated, a student who withdraws after completing 20% of the semester will be charged 20% of the applicable tuition, room, board (meal plan) and fees and would retain 20% of their financial aid. If funds have been released to the student because of a credit balance on the student’s account, then the student may be required to repay some of the federal grant and loan funds that were released to the student. Title IV funds may not cover all unpaid institutional charges due to the institution upon withdrawal from the college.

After the 60% point in the semester, no refund is due, nor will financial aid be returned to any programs. The portion of the semester completed is based on calendar days from the first day of the semester through the last scheduled day of finals, including weekends and breaks that are fewer than five days in length. One exception to the 60% rule, is for students who are enrolled in modular programs (Term 1, Term 2, Term 3, or Term 4). A student enrolled in these programs who successfully completes one module with a passing grade, will be exempt from the R2T4 calculation if the module that was successfully completed included 49% or more of the number of days in the entire term.

Students who do not go through the “official” withdrawal process (i.e. leave campus without filing withdrawal papers or notifying the College) will be deemed to have attended through the mid-point in the semester unless the last date of attendance can be documented. They will have their charges and financial aid adjusted accordingly. This policy is subject to federal regulations, specifically the Higher Education Amendments of 1998, Public Law 105-244.

Example of a recalculation for complete withdrawal from Simpson College

The enrollment period for the semester in this example contains 104 days. Earned percentage examples are below:

• Withdrawal on day 2 = 2/104 = 1.9%
• Withdrawal on day 8 = 8/104 = 7.7%
• Withdrawal on day 63 = 63/104 = 60.5% - NO REFUND or RETURN OF TITLE IV FUNDS REQUIRED

This example is for illustration purposes only. Actual charges and refund amounts may vary. The following is an example of charges and credits for a student who completely withdrew from Simpson College and all classes on the 46th day of the semester (46/104 = 44.2%).

Other Refunds

Housing Refunds: Refunds on housing may be given in the case of a student who, due to illness or other imperative reasons, officially withdraws from Simpson. No housing is refunded after the 60% point in the term.

Food Refunds: Food plan cancellations are effective one day after notifying the Office of Student Development. Food plan charges are refunded on a pro-rate basis. No refunds will be issued for unused Flex dollars at any time. No food plan is refunded after the 60% point in the term.

May Term Travel Course Refunds: Students are responsible for all direct costs incurred by the College after the payment of the non-refundable application fee. To the extent possible, course instructors and Simpson College will attempt to secure a partial refund for students who withdraw from the program at least 90 days prior to departure and provide written notice of such to the International Education Coordinator. The partial refund to the student will be calculated by Simpson College on an individual student basis and will amount to a maximum of 50% of the direct costs incurred by the College that are recoverable. Within 90 days of the program’s departure, no refund will be calculated or due.

In case of hardship or unforeseen circumstances, the student may appeal the refund calculated per above by providing written notice of appeal to Director of Off Campus Programs. The appeal will be reviewed by a committee. All decisions made by the appeals committee are final.
If the May Term travel course is cancelled by the College due to uncontrollable circumstances such as acts of war, health risks in the host country, U.S. State Department warnings, or any other reason, the College cannot guarantee, but will attempt to secure a partial refund.

Note: In the event of a pandemic, Simpson College will attempt to provide alternative ways of offering instruction. Therefore, the College may choose not to refund tuition, fees, or room and board according to the normal refund policy as described above.

Tuition and Charges

Academic Year Fees

The above fees are for the acdemic year 2024-2025 and are subject to change in subsequent years.  

The College reserves the right to modify fees. 

Financial Assistance

It is widely known that a college education is one of the most important investments a student may make. It’s the reason why we would like you to be comfortable with the financial assistance process. At Simpson, we know the world of financial assistance well, and we help students navigate the process with confidence.

Affordability is certainly important, but equally so is value. You are looking for value in your choice of a college. That is why our efforts to keep our quality high and our cost affordable are among the many distinctions of which Simpson College is most proud.

To apply for financial assistance:

It is the purpose of the office of financial assistance at Simpson College to assist students in financial planning for college. In doing this, Simpson College attempts to make it financially possible for qualified students to experience the advantages of a Simpson College education. Generous gifts by alumni, trustees and friends of the College, in addition to state and federal student assistance programs, make this possible.

The primary criteria for determining the amount of assistance a student is eligible to receive is the financial need of the student. The type of financial assistance available is related to the financial need and scholastic ability of the student.

Various scholarships and grants are awarded on the basis of academic excellence and/or qualities of leadership and talent. For a complete listing of need-based and non need-based financial assistance, go to http://simpson.edu/financial-aid/.

Cost of Attendance

Book/Supplies: These expenses vary each semester and largely depend on individual needs and program of study.  On average, full-time undergraduate students should plan to spend about $1,168 per year for books and supplies.  Students who have enough credit in their financial aid to pay for books and supplies may request a book voucher from the Office of Financial Aid to charge books and supplies to their student account.  Book vouchers may be obtained in the Office of Financial Aid up to one month prior to classes starting. 

Personal/Transportation: Personal costs vary from $2,124 to $6,188 depending on dependency status, degree program and place of residence while attending Simpson College.  Depending upon whether the student lives on or off campus, or with parent, transportation costs allowable for financial aid purposes vary from $1,436 to $1,944. 

Living Expense: May Term Meal Plan: Meal plans for May Term are available and range from $328 and $514. 

Living Expense: Off Campus Room/Meals: Cost allowanced for off-campus room and meals vary depending upon dependency status and type of living arrangement (i.e. with parent, in an apartment, etc.).

Simpson Online and Graduate Studies Students: Simpson Online and Graduate Studies students are charged on a per credit basis.  If you have questions regarding “per credit” costs, please contact the Business Office at 515-961-1655.  Students who take at least 12 credits in any given semester (with one or more credits being daytime classes) are charged at the full-time traditional/day tuition rate. 

Applying For Financial Assistance

Most financial assistance is awarded to students with an established financial need. For this reason, it is necessary for applicants to submit data, which will allow the College to determine a student’s financial need. This is done by filing the Free Application for Federal Student Aid (FAFSA). The FAFSA may be filed at www.fafsa.gov any time after October 1st. If the student is a dependent student, one of the parents must also sign the FAFSA electronically. When filing the FAFSA, be sure to list Simpson College, federal school code 001887.

The FAFSA is the only application required to determine eligibility for all state and federal assistance programs.

The information provided on the form will be analyzed at the central processing center and a report of the financial need of the student and his/her family will be sent to the College. If filing electronically, Simpson College will receive this information within 3 days. This process could take as long as 3 to 7 weeks when filing in paper format. Financial assistance awards are made as soon as the applicant has been accepted for admission and the results of the FAFSA have been forwarded to the College. Simpson College will analyze the financial need and academic background of each student in determining the student’s financial assistance award. Iowa applicants must have their FAFSA to the central processing center by July 1 in order to be eligible for State of Iowa funds.

Simpson College may request additional information or forms. Make sure you respond promptly to avoid delays in receiving your financial aid. One out of three applications is selected for review in a process called “verification.” If your application is selected, don’t be alarmed. The process will require you to provide Simpson with a copy of your signed federal tax forms and a verification worksheet. Please comply with the request promptly. If you have questions concerning verification, contact the office of financial assistance.

After Simpson has processed your application, you will receive an award letter that outlines your financial aid package. Review your award letter carefully and make sure you understand the terms of the awards being offered. Please remember, we are only a phone call away if you need any assistance understanding the terms and conditions of your financial assistance award.

If you intend to take out loans, an additional application or promissory note may be needed. Your award letter will notify you of the loans for which you qualify and the amount you are eligible to borrow in addition to your next steps to securing your student loans.

Tuition Refunds and Financial Assistance Returns

(See Tuition Refunds and Financial Assistance Returns under Financial Planning).

Sources of Financial Aid

Students enrolled in the post-baccalaureate programs of study at Simpson are eligible to borrow under the Federal Direct Loan programs. Students enrolled in the post-baccalaureate certificate programs are eligible to borrow at the undergraduate loan limits. Students enrolled in the graduate programs may borrow at the graduate loan limits under the Federal Direct Loan Program, which is $20,500 annually or up to the student’s cost of attendance, which is usually significantly lower than the $20,500 annual amount.