The Business Affairs Office supports the educational mission of Rust College by providing accurate and efficient financial services, safeguarding institutional resources, and delivering professional, responsive customer service to students, faculty, staff, and stakeholders.

Office Location

McCoy Administration Building, Suite 107

Cashier’s Office

The Cashier’s Office provides student account services, processes payments, manages refunds, and assists students with account-related inquiries.

Staff Directory

The Business Affairs Office supervises and supports:

• Student billing and account management
• Accounts payable operations
• Procurement and purchasing services
• Budget development and monitoring
• Financial reporting and accounting services
• Cash management and treasury functions
• Campus postal services
• Transportation support services
• Student payment processing and refunds
• Auxiliary business operations

Schedule of Fees

Following are the 2026-2027 schedule of expenses for full-time boarding and non-boarding students: Students enrolling for the first time in the second semester of the school year will pay first semester’s fees.

(This schedule of fees may be subject to change)

Effective Fall 2026-2027

Housing Deposit and Fees 

Students interested in residing on campus must complete a Housing Application indicating their preferred residence hall and room assignment and submit the required non-refundable housing deposit.

For first time students who have received access to the student portal, Fees paid on-line, or the completed applications, and deposits can be mailed to:

Rust College Business Office
150 Rust Avenue
Holly Springs, MS 38635

Other Fees

Important Notes

• Students who register for fewer than 12 credit hours during any academic term will be charged the part-time tuition rate of $475.00 per credit hour In person classes or $557.50 per credit hour on-line classes.
• All fees and deposits are due and payable according to the College’s published schedule of expenses.
• Students must complete registration by the last day to add a class. The opportunity to complete registration expires after that date.

Below is a revised and formatted version suitable for a Rust College Catalog, Student Handbook, or Financial Information section.

Students who do not receive any form of financial assistance are eligible for a 5% discount on tuition when the entire semester’s expenses, including any previous balance, are paid in full at the time of registration.

The following tuition discounts are also available:

• Licensed or ordained United Methodist pastors are eligible for 100% tuition coverage (free tuition).
• Dependents of United Methodist ministers and United Methodist ministerial students are eligible for a 30% tuition discount.
• CME ministers are eligible for a 50% tuition discount.
• Spouses and dependents of CME ministers pursuing a bachelor’s degree at Rust College are eligible for a 30% tuition discount.
• A Rust College Trustee, spouse, and dependents may receive a 75% tuition discount while enrolled at Rust College.
• Rust College employees who have completed at least two years of service may enroll in one three-credit-hour course per module after normal working hours at no cost.
• Spouses and dependent children of eligible Rust College employees may receive a 75% tuition discount, provided the employee has completed at least two years of service. Any scholarship, loan, grant-in-aid, Federal Pell Grant, or other financial assistance for which the student is eligible will be applied toward tuition and other charges before the discount is calculated.
• People 65 years of age or older may enroll in one course per module at a reduced tuition rate of $25.00 per course. Credits earned under this provision may not be applied toward a degree program at Rust College or transferred to another institution for degree credit.

Financial Arrangements

Students with outstanding cash balances at registration may make special payment arrangements through the Business Office. Veterans may receive special consideration; however, the following guidelines generally apply:

• Twenty-five percent (25%) of the cash balance is due at registration.
• The remaining balance may be paid through three equal monthly installment payments.
• Installment payments will be prearranged and processed by check, credit card, or debit card on the 5th day of each month during the semester.
• A $20.00 late fee will be assessed for any payment not received in full by the due date.
• Failure to make a payment within five (5) days of the due date may result in sanctions and/or suspension.
• Students with delinquent accounts may be prohibited from registering for future terms until satisfactory payment arrangements have been made with the Business Office.

For academic terms that are less than 65 days in length, payment arrangements will be adjusted according to the number of months remaining in the term.

Late Fees and Collection Policy for Student Accounts

Students are responsible for paying all tuition, fees, and other institutional charges by the published payment deadlines established by the College. Failure to satisfy financial obligations by the due date may result in the assessment of late fees and the placement of restrictions on the student’s account.

Late Fees

A late fee may be assessed on any unpaid balance that remains after the established payment deadline. Late fees will be charged in accordance with the College’s current fee schedule and may continue to accrue on delinquent accounts. Students are encouraged to contact the Business Office before the payment deadline if they anticipate difficulty meeting their financial obligations.

Delinquent Accounts

Students with past-due balances may be subject to one or more of the following actions:

• Registration holds preventing enrollment in future terms.
• Ineligibility to receive diplomas or participate in graduation-related activities.
• Cancellation of payment arrangements for failure to comply with agreed-upon payment terms.
• Denial of future institutional credit or payment plan privileges.

Collection Procedures

Accounts that remain unpaid after reasonable collection efforts by the College may be referred to an external collection agency or attorney for further collection activity. Students are responsible for all costs associated with the collection of delinquent accounts to the extent permitted by applicable law, including collection agency fees, court costs, and attorney’s fees.

Financial Aid Recipients

Students receiving financial aid remain responsible for any balance owed after financial aid has been applied to their account. If financial aid is reduced, canceled, or otherwise adjusted, the student is responsible for immediately paying any resulting balance.

Payment of Past-Due Balances

Students with delinquent accounts must pay the outstanding balance in full or make satisfactory payment arrangements with the Business Office before registration, diploma release, or other services can be reinstated.

The College reserves the right to take any action necessary to collect unpaid student account balances and to ensure compliance with institutional policies and applicable regulations.

How Financial Aid Is Applied to Student Accounts

Financial aid funds are applied directly to a student’s account to pay authorized educational charges, including tuition, mandatory fees, housing, meal plans, and other institutional charges, as applicable. Financial aid is credited to the students’ account after eligibility has been confirmed and all enrollment requirements have been satisfied.

Funds are applied in the following order:

1. Tuition and mandatory fees
2. Housing charges (if applicable)
3. Meal plan charges (if applicable)
4. Other authorized institutional charges

After all applicable charges have been paid, any remaining financial aid funds create a credit balance on the student’s account. Students with a credit balance are eligible to receive a refund in accordance with the College’s Refund of Credit Balances policy.

Students are responsible for any outstanding balance that remains after financial aid has been applied. Financial aid awards may be adjusted if enrollment status changes, eligibility requirements are not met, or additional resources such as outside scholarships are received.

Students are encouraged to review their account information regularly through the student portal and contact the Financial Aid Office or Business Office with any questions regarding the application of financial aid funds to their accounts.

Reporting Outside Scholarships

Students who receive scholarships, grants, tuition assistance, or other educational benefits from sources outside the College are required to notify the Financial Aid Office promptly. Documentation of the award, including the name of the sponsoring organization and the award amount, must be submitted as soon as the student is notified of the scholarship.

Outside scholarships and other educational resources must be considered when determining a student’s financial aid eligibility and may result in adjustments to the student’s financial aid package to ensure compliance with federal, state, and institutional regulations. Failure to report outside scholarships may result in a revision of aid awards, repayment obligations, or delays in the processing of financial aid and refunds.

Students are encouraged to contact the Financial Aid Office with any questions regarding the reporting of outside scholarships or how such awards may affect their financial aid eligibility.

Financial Aid Disbursement and Credit Balance Refunds

Financial aid funds are applied to student accounts after enrollment verification is completed. Once tuition, fees, and other authorized charges have been paid, any resulting credit balance will be refunded to the student. Refunds are processed by the Cashier’s Office within fourteen (14) calendar days from the date the credit balance is established.

Students receiving financial aid should monitor their account balances through the student portal. Students enrolled exclusively in online courses are required to pay a minimum of $200.00 toward their account balance at registration, with any remaining balance due according to the payment arrangement approved by the Business Office.

This schedule may be adjusted for late registrations, schedule changes, late awarded aid, or other circumstances affecting a student’s account.

Fall Semester 2026

Second Disbursement (Loans or Late Awards)

Spring Semester 2027

All students, including those who withdrawal, drop out, or are expelled, are subject to the following Withdrawal refund policy:

Winter and Summer Term (8-Week Session) Withdrawal Refund Schedule

Only first-time Title IV recipients who withdraw before completing 60% of the enrollment period will have refunds calculated on a pro-rata basis.

Students receiving financial aid who officially withdraw after two weeks of the summer session are responsible for all charges incurred.

Mini-Term (4-Week Session) Withdrawal Refund Schedule

Return of Federal Financial Aid

Federal financial aid is returned according to federal regulations in the following order:

1. Federal Direct Unsubsidized Stafford Loan
2. Federal Direct Subsidized Stafford Loan
3. Federal Direct PLUS Loan
4. Federal Pell Grant
5. Federal Supplemental Education Opportunity Grant (FSEOG)
6. Teach Grant

Room and board charges are refunded on a pro-rata basis, determined by the number of remaining weeks divided by the 16-week term.

Where to find 1099-T and Tax information

IRS Form 1098-T and Tax Information

Students may obtain tax-related information and forms through the College and the Internal Revenue Service (IRS).

Form 1098-T Tuition Statement

The College issues IRS Form 1098-T, Tuition Statement, each year to eligible students to assist with the preparation of federal income tax returns and the determination of eligibility for education-related tax benefits.

• Form 1098-T is generally available by January 31 for the preceding tax year.
• Students may access their 1098-T form through the College’s student portal.
• Students should verify that their mailing address and personal information are current to ensure timely receipt of tax documents.
• Questions regarding the 1098-T should be directed to the Cashier’s Office.

Federal Tax Returns and IRS Forms

Students seeking copies of tax returns, tax transcripts, or additional federal tax information may obtain these documents directly from the Internal Revenue Service (IRS) by:

• Visiting www.irs.gov
• Using the IRS “Get Transcript” service to request tax return transcripts and other tax records
• Call the IRS toll-free assistance line at 800-829-1040

Important Notice

College personnel cannot provide tax advice. Students and parents should consult a qualified tax professional or the IRS for guidance regarding tax filing requirements, education tax credits, deductions, and other tax-related matters.

For additional assistance regarding student account information or 1098-T reporting, students should contact the Cashier’s Office.