1992-1993 Academic Catalog

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 commitment to pay for related charges 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 arrangements for payment have been finalized 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 leiwe the College. Notification of the College Bill Students who preregister will receive an invoice based on their preregistration schedule 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 statements 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 anangements within the first two days of the quarter will be charged a $20 late registration fee. Those who do not pay their bills in full will be charged 1.083% interest per month on the unpaid balance. Students with unpaid balances at the end of a quarter could be denied enrollment in the next quarter, grade reports, transcripts, and/or college diploma. They will also be responsible for any fees incurred in the collection of their past due account. Interest Rates An annual interest rate of 13% (1.083% per month) will be charged from the beginning of fall quarter to the end of spring quarter on accounts of students Financial Information 189 enrolled in the current quarter. An annual interest rate of 15% (1.25% per month) will be charged during the academic year on accounts of students no longer enrolled; and, during the summer months on all student accounts. Payment Plans Students may take advantage of one of two payment plans: 1. 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 tem1 (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 charge of 1.083% 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 financial aid grants and scholarships are deducted. When this payment is made, the student has completed financial registration. A late fee of $20 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 1.083% per month is made on the unpaid balance. A late payment charge of $20 is assessed on all accounts that at least two-thirds of the students quarterly bill after financial aid has not been paid. Third (final) Payment: The remaining balance owed by the student is due within eight weeks of financial registration. A late payment charge of $20 is assessed on all student accounts with a balance remaining after this deadline. An interest charge of 1.083% 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