Student Loans & Payment Plans

The Standard Payment Plan is for students who wish to pay the full amount of tuition and student fees by payment deadline (see below). Students enrolled in 6 credits or less are required to select the Standard Payment Plan.

The Deferred Payment Plan (DPP) is designed to allow students to break up their tuition and fees into three payments each semester. Students enrolled in 6 credits or less are not eligible for the Deferred Payment Plan. Please note that a documentation fee applies (see Tuition & Fees for more information).

The Student Loan Payment Plan is for any student using a government student loan to pay all or a portion of their tuition and fees. Students enrolled in 8 credits or less are not eligible for the Student Loan Payment Plan. Please note that a documentation fee applies (see Tuition & Fees for more information).

To set up a Student Loan Payment Plan, students must submit the Agreement Form along with any required documentation 5 business days before the payment due date.

• If the September disbursement of the loan covers the amount owed to Columbia, the student is not required to pay anything out of pocket. All loan funds will automatically be directed to Columbia and must be received by September 11, 2021.
• If the September disbursement of the loan does not cover the amount owed to Columbia, the student is responsible to pay the remaining balance. The portion covered by the student loan must be received by Columbia by September 11, 2021.
• If a student loan is not yet approved at payment deadline, students will be placed on a modified payment schedule until proof that the student loan has been approved is received by the Financial Aid Office.

Payment amount calculated from initial balance owing.

• RESP
• Government Funding (other than student loans)
• First Nations Funding
• External Scholarships & Bursaries

If you have a form of external funding (as listed above) you will need to confirm your enrolment with Columbia. To confirm your enrolment please fill out the Confirmation of Enrolment request form online.

Columbia MUST receive confirmation of your external funding BEFORE the payment deadline of August 15th. Failure to confirm will result in the need to pay your full bill at payment deadline.

If a payment deadline falls on a weekend or statutory holiday, payments made in person or by phone must be done within regular office hours on the previous business day. Late payments will be subject to late fees. Failure to finalize payment within a reasonable amount of time (as determined by Columbia) will result in withdrawal from the College.

Missing a payment will result in a $150 charge. If a student cheque is returned for any reason, a fee of $25 will be charged to the student’s account. Students with unpaid accounts will not be permitted to return or register the following semester until the account is paid in full. Appropriate steps will be taken to collect outstanding accounts.

All student loans are required to be payable to Columbia Bible College until the account has been paid in full. Any resulting over-payment of tuition and fees will be available for a refund as stated below. Student loans not approved at the time of registration will not be considered as approved for the purposes of the Columbia Bible College Financial Agreement.

Only payments received in excess on a student account will be available for a refund after Add/Drop Week. An approved student loan is only deemed received after the funds have been wire transferred to Columbia or a cheque has been received by Columbia. Payments received from a parent/legal guardian will only be refunded into the parent's/legal guardian's name unless otherwise instructed in writing. Payments received from a supporting agency will not be refunded to the student without prior written authorization as to the intended purpose of any excess funds. Where more than one sponsoring agency has made payments on a student account, any refunds available will be pro-rated to the overall cost of the invoice in conjunction to the payment made and distributed accordingly to all sponsoring agencies first. Please allow 5 business days for a refund to be processed.

Download Refund Policy

Bookstore charge authorizations will only be issued to the maximum amount of credit available on the student's account. Bookstore charging is to be used for textbooks only and will not be available for personal items. As these authorizations are retained by the bookstore at the time of purchase, it is advised that a student is fully aware of all required textbooks before making purchases (any amount not used cannot be carried forward as credit).