Managing Your Account
You can use the Babson Hub to complete many account management tasks.
- View your student account online
- View your financial aid application status online
- View your financial aid awards online
- Submit payment online by going to the Babson Hub and clicking on Make a Payment.
- Complete the required enrollment (or waiver) of health insurance form. Go to the Babson Hub, then click Enroll/Waive Health Insurance.
- Request a refund
- Set up an eProxy online − someone to whom you give the authorization to view your student account online
Setting up an eProxy
With eProxy, you can give a spouse or parent access to view your bill online and make a payment using ePay. To set up an eProxy, click here and enter in the email address and name of any person you wish to designate as a proxy. Once you set up the account, the person you designate as your proxy will receive an email with the address and password to access your student account. You can terminate an eProxy's access at any time by deleting the email address from your eProxy list.
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payment due date will be charged a $200 late fee, denied course registration and add/drop privileges, and may be withdrawn from courses and lose college housing for the period of the housing contract.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 Undergraduate and Graduate 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 the Hub. After the end of the add/drop period, you may increase your meal plan online through the Babson Hub. 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 to you or another party. 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. Requests received before noon on Tuesday will be available after 2pm on Thursday. 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.
Requesting a book voucher
If you have financial aid or loans that exceed billed charges at Babson, you may request a voucher to purchase your course materials for the semester. Please request a book voucher in person at SFS.
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 www.afford.com/babson to set up a payment plan. We offer annual 10-month and 8-month plans, and lots of students find that a payment plan makes budgeting easier.
Combining a payment plan and loan option
For your planning purposes, Babson offers BorrowSmart®, a tool that shows how you can minimize education debt by combining a monthly payment plan with the loan of your choice. You will input the amount that you feel you can reasonably afford each month, and the system will present options based on Babson’s list of recommended loans and lenders.
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.
The IRS form needed to claim the American Opportunity (Hope)/Lifetime Learning
Tax Credits, Form 8863-Education Credits, is available here.
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 website.