1991-1992 Academic Catalog

204 Financial Information Financial Registration Policy To enable the College to be responsible in meeting its financial responsibilities, each student must make provision for the payment of his or her college bill at the beginning of each quarter. A student's registration for classes is his/her obligation and commit– ment to pay for related chaiges as stated in the college catalog. To help students care for this responsibility, the first two days of each quarter are set aside for financial registration. A student is not considered registered until arrange– ments for payment have been fmalized with the business office. Any student who is not able to make financial arrangements for the payment of his or her college bill will not be permitted to eat in the college cafeteria, use the library, or attend classes and may be asked to leave the College. Notification ofthe College Bill Students who preregister will receive an invoice based on their preregistration sched– ule ten to fifteen days before the quarter begins. A statement of student account is generated each month that the account has activity. Invoices and account statements are directed to the student at his/her current college residence. Students may request to have both sent to their parents address; however, they are still addressed to the student. Forms of Payment Students may pay their college bills using cash. money orders, personal checks, certified checks, or checks drawn on a major credit card. Payments may be made at the cashiers office or at their temporary location during financial registration. Payment Penalties Students who fail to make acceptable payment arrangements within a reasonable period of time will be denied access to the cafeteria and library until such arrangements are made. Students who do not make financial arrangements within the first two days of the quarter will be charged a $25 late registration fee. Those who do not pay their bills in full will be charged 1 1/2% interest per month on the unpaid balance. Students with unpaid balances at the end of a quarter will be denied enrollment in the next quarter, grade reports, transcripts, and/or college diploma. They will also be re– sponsible for any fees incurred in the collection oftheir past due account. Payment Plans Students may take advantage of one oftwo payment plans: l. Payment in Full is the most popular payment plan. This plan involves paying the full amount due as indicated on the Student Invoice within the first two days of the academic term (quarter). Payment envelopes available on campus during registration enable students to send checks through intracampus mail and avoid standing in lines. 2. Three-Pay Plan makes it possible for the student to pay his/her college bill in three payments spread over sixty days. An interest chaige of 1 1/2% per month is made on the unpaid balance. First Payment: At least one-third of the amount the student is required to pay is due at financial registration. This is the amount of the student's bill remaining after finan– cial aid grants and scholarships are deducted. When this payment is made, the student has completed financial registration. A late fee of $25 is assessed if the first payment is not made by the end of the financial registration period. Second Payment: At least one-half of the student's remaining balance is due within four weeks following financial registration. An interest charge of 1 1/2% per month is made on the unpaid balance. Third (final) Payment: The remaining balance owed by the student is due within eight weeks of financial registration. A late payment charge of $25 is assessed on all student accounts with a balance remaining after this deadline. An interest charge of 1 1/2% per month is made on the unpaid balance. The use of the Three-Pay Plan constitutes a debt obligation of the student to the college and is payable in terms as stated. Each parent and each student must consider and understand the full cost and obligation of the commitment being made. 3. Prepayment Incentive Credit Plan (PIC-Plan) enables students to earn interest on student accounts that have a credit balance of $500 or more. Interest earned is credited monthly. The current rate of interest is 8.0% (annual; monthly rate is .667%). This plan operates automatically as soon as the student has a credit balance of $500 or more on the first day of a calendar month. Prepayments can be made monthly, quarterly, or annually. All payments are credited immediately to the student's account. Withdrawals from a Student Account (Credit Balance) A student may withdraw funds from his or her account if the account has a credit balance. Cash withdrawals of $25 or less may be made twice weekly from the cashier's office during regular business hours. No withdrawals are allowed during the week of financial registration. Withdrawals of amounts greater than $25 are issued by check upon request at the cashier's office. Check processing normally requires one or two full business days.