My Financial Plan
Payment Options
1. Payment Plan
This is an interest-free option that divides your remaining balance into equal monthly payments. This makes paying your remaining expenses manageable.
You set up a monthly plan through Transact, a third-party authorized vendor. There is a $50 fee per semester. This is not a loan and there are no interest fees. The first payment will be due upon enrollment in a tuition payment plan and billing statements are posted on myCIA.
For questions or help with set-up, contact the Office of Student accounts at 216.421.7318 or at studentaccounts@cia.edu.
2. Out-of Pocket Payments
With an out-of-pocket payment, your remaining balance is due by July 15th for the Fall semester and December 15th for the Spring semester. CIA accepts cash, checks, wire transfers, credit card payments, debit card payments, ACH payments made directly from a bank account, and payments made using a 529 college savings account.
3. Parent PLUS Loan
This option is for parents of dependent undergraduate students with expenses, like tuition, room and board, books and supplies. Your parents can borrow a PLUS loan up to the cost of attendance minus other financial aid their student receives.
Both you and your parent(s) need to meet eligibility requirements, including U.S. citizenship. Federal/Direct PLUS have a fixed interest rate of 9.083% and it has a 4.228% fee.
4. Private/Alternative Education Loans
Private education loans are offered by banks and private lenders to the student. Some lenders have parent or sponsor loans as well. Since these are credit based, a worthy co-borrower will most likely be required on student applications. The interest rate is based upon the credit worthiness of the applicant(s) and most, if not all, loans have no fees. The typical repayment is 6 months after graduation or leaving school and these loans are not subsidized and the interest accrues from the point of disbursement. The maximum amount that can be borrowed in an academic year is the total cost of attendance minus all other aid offered.
For a Private Education Loan, you or your parent will need to choose a lender (CIA doesn't endorse any specific lender.) More info is available on the Great Lakes Higher Education Corporation (GLHEC) FastChoice website.
Financial Aid Disbursement
Net Partner is a financial aid portal to review your financial aid, accept or decline your federal student loans and see if any documents are required. Once you accept your financial aid in Net Partner, and all of your required documents are received, your aid will ready to post to your student account.
During the third week of each semester, as long as your financial aid forms and class registration are complete, your financial aid will be disbursed and posted on your student account statement.
After ALL financial aid has been disbursed and posted, if your financial aid covers more than your school balance on your statement, a credit balance will be generated. The student accounts office will issue a refund as a result of this credit balance no later than 14 days after the credit balance occurred.
Enrolled students will need to complete a direct deposit form to have their refund sent electronically to the bank account. The form can be found on myCIA within the Student Accounts area (login required).
Bill Payment
Fall billing statements are made available for returning students on myCIA mid-May, and mid-June for new students. Contact the Office of Student Accounts at 216.421.7318 or studentaccounts@cia.edu if you have any questions about your billing statement or making payments.