NCCU will plan for future budget reductions related to potential enrollment loss related to COVID-19. In this respect, a budget template has been developed and will be disseminated to campus. The completed budget templates will be held for future use as it becomes necessary to implement budget reductions.
Based on a review of the University’s current debt profile, available fund balances will ensure appropriate payment is made for fiscal year 2020–2021 related to NCCU’s debt service. A systemic change in enrollment will negatively impact the University debt coverage ratio. This will be monitored closely by the University and its financial advisors.
The student billing schedule is being updated to match the revised Academic Calendar. The due date noted on the revised calendar has been factored into the billing schedule used for Student Accounting. The Office of Scholarships and Student Aid has also updated the financial aid disbursement schedule to match the academic calendar. All student populations (undergraduate, graduate, professional and law) will be able to receive their aid in a timely manner meeting the federal guidelines.
As has always been the case, tuition and fees are charged at the beginning of the semester and will remain in place regardless of any changes in instructional format. Tuition and fees will not be refunded in the event that instructional format changes for any part of the 2020–2021 academic year.