Javascript is currently not supported, or is disabled by this browser. Please enable Javascript for full functionality.

B.S. in Actuarial Science

Otterbein University Course Catalogs

2023-2024 Undergraduate Catalog 
    Jun 22, 2024  
2023-2024 Undergraduate Catalog [Archived Catalog]

Tuition and Fees

Tuition, Fee Schedules and Payments
Fee Payment Policies
Payment of Fees and Payment Plans
Refund Schedule


A complete list of tuition, fees, and payment options can be found on the Business Office website.



At the time a student formally registers for classes, either by signing and submitting the appropriate registration forms to the Office of the Registrar or by registering online through Self-Service Banner, the student agrees to assume financial responsibility for the payment of fees and charges, and to abide by the University’s official policies concerning the adding and dropping of classes and withdrawal from the University. The student also agrees to assume the responsibility for understanding the University’s official policy concerning schedule changes and satisfactory academic progress which may result in additional charges or the loss of eligibility for certain types of financial aid. It is considered the student’s responsibility to understand how these changes can affect his/her financial situation with regard to financial aid eligibility.

Students are billed electronically for each individual term approximately 21 days before those charges are due. All students must be in paid status by midnight on the payment due date for each term, which is detailed in the Academic Calendar. All students not in paid status by midnight on the payment due date for each term are subject to financial dismissal, which means that the student’s schedule is dropped and the student may lose his/her place in classes that are in high demand. Students whose classes are dropped for non-payment (financial dismissal) must pay a reinstatement fee of $250 plus any outstanding amounts due before re-registration for that term is permitted. If the student’s schedule is dropped for non-payment, there is no guarantee that the previously scheduled classes can be restored. All sources of financial aid not completed and awaiting disbursement by the payment due date of each term makes the student subject to financial dismissal. Therefore, all financial assistance should be applied for prior to July 1 to help ensure timely receipt.

All accounts must be paid in full (and, if appropriate, loan exit interviews completed) in order for students to enroll in succeeding terms, to participate in graduation ceremonies, or to receive copies of certificates, diplomas and transcripts. Otterbein reserves the right to recover all fees and costs involved with the collection and/or litigation of delinquent accounts, including collection fees and costs charged to Otterbein by outside agencies, and/or the costs and fees associated with the process of litigation.

If an account must be sent to collection or litigation due to nonpayment of the outstanding balance, the University reserves the right to demand payment in full of subsequent terms of enrollment, prior to the beginning of each term to ensure enrollment. The University reserves the right to cancel the registration of any student if a balance due from the current term or a previous term remains unpaid at the start of a subsequent term.

Student receivable accounts are considered to be educational loans provided for the sole purpose of financing an education at Otterbein University, a non-profit institution of higher learning. As such, student receivable accounts are not dischargeable under the provisions of the laws governing either Chapter 7 or Chapter 13 bankruptcy actions.

The University reserves the right to demand payment in the forms of a certified check, money order, cash, or credit cards in the event that one or more checks or electronic payments have been returned unpaid for any reason.



Meeting the expense of a college education is one of the larger investments made by most families. At Otterbein, we understand the unique financial needs that often stand in the way of paying these expenses. For this reason, students may elect one of the two types of plans for payment of comprehensive fee charges.

  1. Pay for each term according to the schedule of fees and due dates as illustrated in the payment of fees.
  2. Enroll in the University’s ePAY payment plans that allow students and their families to budget their expected costs into monthly payments. Information about the various payment plan options is available on-line in the Business Office section of the University’s website.

Students who select the payment plan option must be current with their scheduled payments in order to register for the following term/year.

Paid Status

In order to maintain enrollment during any term, a student must be in “Paid Status” on the established payment due date for each term. There are three ways to achieve “Paid Status”:

  1. Pay all fees and charges due for each term by the payment due date.
  2. Or, apply for and complete sufficient financial aid to cover the term’s charges and fees in full.
  3. Or, set up a payment plan through ePay that covers the term charges and fees in full, and make the scheduled payments by the due dates during the term.

Students not in “Paid Status” by midnight on the established payment due date for the term are subject to financial dismissal and the cancellation of their scheduled classes for non-payment of fees. Resident students not in “Paid Status” are not permitted to move into their campus residence hall or receive their room keys. Cancellation of registration for non-payment typically occurs in the two weeks before the first day of classes for each term. International students (those students requiring a visa to attend) must pay in full by the due date and are not eligible for the payment plan.

Methods of Payment

Fees may be paid by check, money order, cash, debit or credit card in person (at the Business Office, 25 W. Home Street); online through ePAY; or by mail (check or money order only). Payments must be received by the established payment due date. Otterbein University accepts Visa, Mastercard, and Discover.



The refund schedule may be accessed here.

Return of Military Tuition Assistance (TA) Funds

Otterbein University will return unearned Tuition Assistance (TA) funds on a proportional basis through the 60% portion of the enrollment period for which the funds were provided. Unearned funds will be returned based on when a student stops attending classes. The University will work with Service members that stop attending due to a military service obligation in identifying solutions that will not result in a student debt for the returned TA portion.

16-Week Course Withdraw Submitted

 Last Day for 100% Return  Before or During Weeks 1-2
 Last Day for 75% Return  During Weeks 3-4
 Last Day for 50% Return  During Weeks 5-8
 Last Day for 40% Return  During Week 9 (60% of the course completed)
 0% Return  After Week 9
*Note: weeks begin on Monday

7-Week Course Withdraw Submitted

 Last Day for 100% Return  Before or During Weeks 1
 Last Day for 75% Return  During Week 2
 Last Day for 50% Return  During Week 3
 Last Day for 40% Return  During Week 4-5 (60% of the course completed)
 0% Return  After Week 5
*Note: weeks begin on Monday