Document No. ADM-1025
Revision No. 2505 on May 1, 2025
1. Purpose
This policy outlines the payment methods, terms, and financial considerations for students at Richmindale College.
2. Scope
This policy applies to all students of Richmindale College
3. Policy
Payment Methods
Richmindale College accepts online payments using any of the major credit cards, bank deposits, cash, checks, or money orders. To pay online, or for more details about payments, visit the Richmindale College website on Services > Payment, or copy and paste the link www.richmindale.com/payment in a web browser.
For more information, contact us through our website, or copy and paste the link www.richmindale.com/contact.
Terms of Payment
Richmindale College offers an installment plan to schedule fees per semester in monthly payments. The number of days used in the terms of payment is based on the Gregorian calendar.
Note that student applicants pay a one-time admission fee upon admission application. If applicants apply for credit transfer, they also pay the credit transfer evaluation fee, in addition to the admission fee, upon admission application. These fees are not part of the terms of payment. The terms of payment apply to the course fees per semester. See the Tuition and Fees section for more details about the fees; and Payment Methods section for more details about the payment options.
The total course fee per semester is calculated as the sum of the total number of credits enrolled for the semester multiplied by the fee per credit that is defined in the student’s enrollment agreement. The total course fee per semester is divided into 3 payments. The first payment is due by the end of the month when classes start. The second payment is due by the end of the month after the first payment. The third payment is due by the end of the month after the second payment.
For example, on July 1, Richmond applied for admission and got accepted on the same day. On August 1, he enrolled in five 3-credit classes, a total of 15 credits for the Fall semester. The classes for the Fall semester are scheduled to start on September 8. The total amount of tuition and miscellaneous fees for the 15 credit units enrolled for the semester is $1,650. The total cost including the admission fee is $1,750 as shown in the table below.
Description Qty Units Total Units Unit Fee Line Total
Admission Fee, one-time 1 - 1 $100 $100
Tuition 5 3 15 $100 $1,500
Miscellaneous Fee 5 3 15 $10 $150
Total Fee for the Semester $1,750
The first payment is due by the end of the month when classes start. The second payment is due by the end of the month after the first payment. The third payment is due by the end of the month after the second payment.
The payment schedule for the above semester fee example is as follows:
Payment Term per Semester Amount Due Date per Semester
Admission Fee, one-time $100 Jul 1: Admission application.
Payment 1 of 3 $550 Sep 30: End of the month when classes start.
Payment 2 of 3 $550 Oct 31: End of the month after Payment 1.
Payment 3 of 3 $550 Nov 30: End of the month after Payment 2.
Total Fee for the Semester $1,750
Accounts Receivables and Collection
Richmindale College sends invoices to students via email at least 15 days prior to payment due dates to remind students of their payments. Richmindale College tracks receivables from students aging 30, 60 and over 90 days, and sends follow-up emails to students who have outstanding balances every end of the month.
Richmindale College reserves the right to deny admission or enrollment of students, not allow students to attend classes, or withhold student transcripts and records due to outstanding balances.
Richmindale College accepts cash, bank transfers or online credit card payments.
To pay online, or for more details about payments, visit the Richmindale College website on Services > Payment, or copy and paste the link www.richmindale.com/payment in a web browser.
Financial Assistance
Richmindale College does not offer financial assistance. The school is not eligible for participation in the Federal Student Aid (FSA) programs and cannot process a request or assist with a deferment of a Title IV school loan.
Loans
Richmindale College does not provide any type of loan to students.
Scholarships
Richmindale College does not award any scholarships.
4. References
None