Housing & Meal Plan Credit Adjustments
Housing and meal plan credit adjustments have been reviewed and will be posted to appropriate student accounts by April 20, 2020.
The calculations for the credit adjustments are explained below. Example calculations are also provided at the end of this document.
Housing Credit Adjustments
Each student’s check-in date was used to determine the possible number of days that would have been used, for housing, if the campus disruption had not occurred. Each student’s housing charge was divided by this number to determine a rate per day. The credit dates are designated from March 16, 2020 to May 8, 2020, resulting in a possible credit of 54 days. Credit days multiplied by the student’s rate per day result in the credit adjustment. The housing credit adjustment will be applied to the student account.
All housing waivers were also prorated in this manner. If applicable, a housing waiver adjustment will also be applied to the student account
***Students currently living on campus will not receive a housing credit adjustment to their account.
Meal Plan Credit Adjustments
Meal plan credit adjustments are calculated on an individual basis. There is a predetermined number of meals per plan. The cost of the meal plan is divided by the meals per plan to determine a cost per meal. This cost per meal is multiplied by the number of used meals to obtain the used portion of the plan. The student’s cost of the meal plan is subtracted by the used cost to determine the meal plan credit adjustment. The meal plan credit adjustment is applied to the student account.
** Flex dollars were not calculated in the meal plan credit adjustment calculations.
***Students currently living on campus will not receive a meal plan credit adjustment to their account.
All questions regarding housing & meal plan credit adjustments can be answered by the Student Accounts Receivable staff. Please email sar@nmhu.edu or call 505-454-3440 and leave a voicemail.
Thank you,
Ryan Aragon, MBA
Bursar/Student Accounts Receivable Manager
Examples
Housing Adjustment Example 1: Student lives in Melody Hall (double) check-in on January 12, 2020 to May 8, 2020, charged $1,983 for the housing. To calculate the cost per day, $1,983 is divided by 118 days equaling $16.81 cost per day. The cost per day is multiplied by the 54 possible credit days equaling the housing credit adjustment of $907.47. The credit adjustment is applied to the students account. The original balance of $1,983 is subtracted by the credit adjustment of $907.47 equaling the total charge amount of $1,075.53.
Housing Adjustment Example 2: Student lives in Viles & Crimmin Hall (4 beds/2 baths) check-in on January 12, 2020 to May 8, 2020, charged $2,333 for the housing. To calculate the cost per day, $2,333 is divided by 118 days equaling $19.77 cost per day. The cost per day is multiplied by the 54 possible credit days equaling the housing credit adjustment of $1,067.64. The credit adjustment is applied to the students account. The original balance of $2,333 is subtracted by the credit adjustment of $1,067.64 equaling the total charge amount of $1,265.36.
Housing Adjustment Example 3: Student athlete receiving an athletic housing waiver lives in Viles & Crimmin Hall (2 beds/1 bath) check-in on January 12, 2020 to May 8, 2020, charged $2,450 for the housing. To calculate the cost per day, $2,450 is divided by 118 days equaling $20.76 cost per day. The cost per day is multiplied by the 54 possible credit days equaling the housing credit adjustment of $1,121.19. The credit adjustment is applied to the students account. The original balance of $2,450 is subtracted by the credit adjustment of $1,121.19 equaling the total charge amount of $1,328.81. Student received an athletic housing waiver in the amount of $900. To calculate the waiver per day amount, $900 is divided by 118 days equaling $7.63 waiver per day. The waiver per day is multiplied by the 54 possible credit days equaling the waiver adjustment of $411.86. The waiver adjustment is applied to the students account. The original waiver of $900 is subtracted by the waiver adjustment of $411.86 equaling the total waiver amount of $488.14.
Meal Adjustment Example 1: Student chose Meal Plan Membership A and used a total of 49 meals. Meal Plan Membership A cost $2,399 and comes with 300 meals. To calculate the cost per meal, $2,399 is divided by 300 equaling $8.00 per meal. The cost per meal is multiplied by the 49 used meals equaling the used cost of $391.84. The meal plan cost of $2,399 is subtracted by the used cost of $391.84 to obtain the credit adjustment of $2,007.16.
Meal Adjustment Example 2: Student chose Meal Plan Membership B and used a total of 89 meals. Meal Plan Membership B cost $2,080 and comes with 240 meals. To calculate the cost per meal, $2,080 is divided by 240 equaling $8.67 per meal. The cost per meal is multiplied by the 89 used meals equaling the used cost of $771.33. The meal plan cost of $2,080 is subtracted by the used cost of $771.33 to obtain the credit adjustment of $1,308.67.
Meal Adjustment Example 3: Student chose Meal Plan Membership C and used a total of 129 meals. Meal Plan Membership C cost $1,751 and comes with 192 meals. To calculate the cost per meal, $1,751 is divided by 192 equaling $9.12 per meal. The cost per meal is multiplied by the 129 used meals equaling the used cost of $1,176.45. The meal plan cost of $1,751 is subtracted by the used cost of $1,176.45 to obtain the credit adjustment of $574.55.