I just went on my account statement via Mugsi, and I noticed something new. It added a journal entry of where I forfeited my residence in my student account balance. It would seem that I am being charged $300 for something I am not sure. The transaction just reads as a debit to RESIDENCE DEPOSIT FORFEIT and a credit to RESIDENCE TOTAL. I thought it was not a biggie until I went to pay my tuition via online where I saw a payment of $300 to something called Student Account Balance. Now I may be reading this wrong, but I do not understand where this extra $300 is coming from. Anyone have a suggestion?

Originally Posted by yma0786

I just went on my account statement via Mugsi, and I noticed something new. It added a journal entry of where I forfeited my residence in my student account balance. It would seem that I am being charged $300 for something I am not sure. The transaction just reads as a debit to RESIDENCE DEPOSIT FORFEIT and a credit to RESIDENCE TOTAL. I thought it was not a biggie until I went to pay my tuition via online where I saw a payment of $300 to something called Student Account Balance. Now I may be reading this wrong, but I do not understand where this extra $300 is coming from. Anyone have a suggestion?

If I'm understanding you correctly, it's just the deposit that you're losing.
When you get a residence spot you pay a deposit to guarantee your place until you pay for the entire residence fee. This deposit is PART OF the residence fee, not something separate. So, if you drop out of residence after paying the deposit, the cost of residence gets refunded on your account but not the deposit.

So, if residence was $6000 and the deposit was $300, your account would initially show that you owe $6000 for residence, with you having already paid $300 of that.
If you drop out of residence, the $6000 charge is reversed, but you still have to pay the $300 deposit.

Originally Posted by starfish

If I'm understanding you correctly, it's just the deposit that you're losing.
When you get a residence spot you pay a deposit to guarantee your place until you pay for the entire residence fee. This deposit is PART OF the residence fee, not something separate. So, if you drop out of residence after paying the deposit, the cost of residence gets refunded on your account but not the deposit.

So, if residence was $6000 and the deposit was $300, your account would initially show that you owe $6000 for residence, with you having already paid $300 of that.
If you drop out of residence, the $6000 charge is reversed, but you still have to pay the $300 deposit.

I believe you are getting the gist of the situation. I remember paying my deposit of $600 for residence and I also remember cancelling my Residence option before the date which would allow me to get at least a $300 refund (In Late May I believe). I received the refund and I assume they kept the other $300 from my deposit, but now I am wondering why I am being charged again for it.

Originally Posted by yma0786

I believe you are getting the gist of the situation. I remember paying my deposit of $600 for residence and I also remember cancelling my Residence option before the date which would allow me to get at least a $300 refund (In Late May I believe). I received the refund and I assume they kept the other $300 from my deposit, but now I am wondering why I am being charged again for it.

I don't think you're being charged again for it, I think because the deposit is considered part of the original residence fee and doesn't show up separately on your account statement, they just wrote it in there as something that you were being charged for (rather than only refunding you part of the money without documentation).

Originally Posted by starfish

I don't think you're being charged again for it, I think because the deposit is considered part of the original residence fee and doesn't show up separately on your account statement, they just wrote it in there as something that you were being charged for (rather than only refunding you part of the money without documentation).

Ah, that makes sense then. It is just what I paid originally and they just recorded it onto my Account Statement. So then I assume that the option on Pay Your Account where it says Student Account Balance for $300, I do not have to pay that?