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May 04, 2024
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2006-2008 Academic Catalog [Archived Catalog]
Financial Charges and Payment Policy
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- Accounts - Each cadet is assigned two financial accounts:
Tuition and Fees - Tuition, fixed fees, room, board, and laundry (limited to specific number of items each trip) are charged each semester.
A yearly charge is made in the first semester for cadet accident insurance. The accident policy is a mandatory plan for all cadets. In addition, PROOF OF MEDICAL INSURANCE IS REQUIRED FOR ALL CADETS. If such proof is not received by August 31 for the Fall Semester and January 31 for the Spring Semester, the cadet will be charged for the yearly NMMI Cadet Health Insurance in addition to the mandatory Accident Insurance. Both policies are low-cost plans which are not intended to cover all costs.
Cadet Account - The Cadet Account is intended to meet day today expenses (personal hygiene items and school supplies) and uniform costs. The following are Authorized On-Campus Uses:
- Uniform purchases
- Books and supplies
- Lab fees
- Barracks breakage
- Personal items purchased at the Cadet Store
- Military property shortage
- Diploma
- Dry cleaning
- Excess laundry charges
- Infirmary prescription charges
- Library losses and fines
- State textbook losses
Please note that these items may be charged only if the Cadet Account balance is adequate. For those cadets depending on Financial Aid and/or Scholarships for funding, a limit will be established for spending based on each cadet’s individual award letter. Charges above the limit will not be allowed.
A monthly statement itemizing all purchases will be forwarded to the parent (copy to cadet) before the tenth of the following month. A minimum balance of $50 is required at all times. You may maintain as large a balance as you desire. Parents who desire may request their cadet to be placed on a “Necessities Only” program. This limits purchases by the cadet to items that are necessary for personal hygiene, school supplies, and uniform items. CASH WITHDRAWALS FROM THE CADET ACCOUNT ARE NOT PERMITTED.
Those uses of the Cadet Account which are NOT ALLOWED are listed below with a recommended means of payment. It will be left to the parent and cadet to determine a suitable method to meet these expenses. Alternatives include local bank accounts, maintaining hometown bank accounts, automatic teller machines (one is located at Hinkle Hall - more information concerning the ATM and a special account is available upon request), mailing check directly to cadets, etc. Money orders may be purchased from the Cashier in the Business Office.
Cash withdrawal - Personal checks will be cashed in the Cadet Store
Student activity costs - personal check or cash accepted
Travel expenses - must be arranged by parent and cadet
Dances - personal check or cash
Doctor-dentist charges - must be arranged by parent and cadet
Driver’s training - personal check at course registration
Golf Course charges - personal check or cash
ACT-SAT - personal check or cash
Photographs - personal check or cash
- Payment Plan - There are two plans for paying tuition and fees. The cadet account may not be deferred. Payments should be made payable to NMMI. Please write the cadet’s name and cadet number in a legible manner on the face of your check. Wire transfers may be sent to Wells Fargo Bank in Roswell, NM, 88201. Wire transfer information is available at the Business Office.
Cash plan: You pay total tuition and fee charges prior to or at matriculation. This includes all the Tuition and Fee costs plus an amount necessary for the purchase of uniforms and school supplies.
Deferred payment plan: A fee is charged for this service. Under this plan, a deposit is required for Tuition and Fees as well as the amount needed for uniforms and school supplies. This initial payment is followed by monthly payments.
- Credit Cards - The Business Office, Cadet Store, and Golf Shop will accept VISA/MC, American Express and Discover cards. The credit cards will be accepted for total or partial payment of Tuition and Fees and Cadet Account deposits. The Cadet Store and Golf Shop will accept the cards for purchases. Cash advances are not available.
- Financial Responsibility - At the end of any semester, any cadet whose accounts have not been paid in full will not be eligible to reenroll for the subsequent semester. NMMI reserves the right to cancel the registration of any cadet who fails to pay, when due any indebtedness. Credits, transcripts, and diplomas will be withheld until all financial obligations are met.
- Scholarship Policy
- All current cadets and accepted applicants will automatically receive scholarship consideration.
- Institutional scholarships will be credited to the recipient’s tuition account on Friday of the third week of classes. Cadets who have withdrawn from NMMI for any reason prior to Friday of the third week of classes will not receive scholarship funds. If a cadet withdraws from school for any reason during the first semester, he/she is not entitled to the scholarship if he/she is reenrolled during the same academic year.
- ROTC scholarships are administered under policies provided by the US Army and will be credited to recipients’ accounts upon receipt.
- Refund Policy
- Should a cadet withdraw or be dismissed, the semester tuition and fee charges (other than matriculation and fees imposed as a penalty) will be refunded as follows:
| 1st five class days |
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100% |
| Next five class days |
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75% |
| Next ten class days |
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50% |
| Next ten class days |
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25% |
- There will be no refund for the semester room charge after the first day of classes. Semester board and laundry charges will be prorated on a weekly basis. The insurance fee is non-refundable. No refund will be made for uniform items which have been altered, laundry marked or worn. Balances remaining in the Cadet Account will be refunded in full provided a balance is not due for tuition and fees.
Please allow four (4) to six (6) weeks to process your account. |
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