Student Financial Services

Letter of Credit

A letter of credit can be submitted by a third party or provider to cover a student’s tuition and fees. Students will need to turn in their letter of credit to the Bursar’s office. The form must clearly indicate that it is “considered a cash advance for the cost of tuition and eligible expenses.” A specialist from the Bursar’s office will confirm/verify that the term, classes, and amounts match that of the Fee Invoice and complete an internal process to request funds from the issuer.

Students with letters of credit will be provided with an FND hold, which will prevent their courses from being dropped for non-payment while the organization/provider processes the payment request from MDC.

Some letters of credit will require additional enrollment or Financial Aid verification.