43 / 72
Student Financial Services Lingo
•
eCheck
This is an electronic check/debit from a student’s checking account. By
entering their bank account and routing number, they can submit a one-
time or recurring payment for no additional convenience fee. This is our
preferred payment method.
•
1098-T
This tax document reports qualified tuition and related expenses (tuition
and fees billed to the student for enrollment or attendance at an eligible
educational institution) and scholarships and grants for any given calendar
year. These documents are released prior to January 31 of each year and
are retrievable through iROAR.
•
e-refund
This is an electronic refund, which allows students to receive funds in
excess of tuition and fees via direct deposits. Students can sign up for
e-refunds by logging into their student bill via iROAR.
•
Authorized Users
Students are permitted to add parents/guardians to their account who
may have an interest in their financial records. Authorized users can be
granted varying levels of access to the student’s account including the
ability to view the student’s tuition bill, make a payment, enroll in
a payment plan or retrieve 1098-T tax information.
•
e-statement
This electronic document reflects all financial activity and balance due
(if any) and is sent to students via iROAR the first business day of the
month.
MANAGING PERSONAL FINANCES
College is a time for students to gain independence and to learn important
life skills, including how to manage finances. Parents and students should
discuss financial pitfalls and ways to avoid costly mistakes.
For more information, visit
clemson.edu/cfo/student-financials.How You Can Support
Discuss the proliferation of credit card offers. Consider adding your
student to your credit card and setting a spending limit. If your student
is ready to handle a personal credit card, discuss the importance of
timely payments and building a strong credit score.
Encourage responsible borrowing. Student loans play a valuable role
in financing higher education, which is a worthy investment. However,
students need to monitor their indebtedness and borrow only enough
to meet their educational and basic living expenses.
43