1997-1998 Academic Catalog

Notification of the College Bill Students who preregister for classes will receive an invoice based on their preregistration schedule 10 to 15 days before the quarter begins. A statement of the student account is generated each month that the account has activity. Invoices and account statements are directed to students at their current college residence. Students may request to have statements and invoices sent to their parents address; however, they are still addressed to the student. Forms are available in the cashier's office to request that invoices and statements be sent to the parent's address. Forms ofPayment 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 arrange– ments within a reasonable period of time will be denied access to the cafeteria and library until such arrange– ments are made. Students who do not make financial arrangements within the first two days of the quarter will be charged a $20 late payment charge. 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 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 indi– cated 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 students to pay their college bill in three payments spread over 60 days. An interest charge of 1.083% per month is made on the unpaid balance. Financial Information 203 First Payment: At least 1/3 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 federal loans, financial aid grants, and scholarships are deducted. When this payment is made, the student has completed financial registration. A late payment charge of $20 is assessed if the first payment is not made by the end of the financial registration period. Second Payment: The student is required to pay the second third within four weeks of financial registration. A late payment charge of $20 is assessed to all accounts that do not meet this criteria. An interest charge of 1.083% 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 registra– tion. 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. 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. 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 anytime. All payments are credited immediately to the student's account. The College reserves the right to limit the amounts deposited under the PIC-Plan. Interest rates are established on a quarterly basis beginning January 1, April 1, July 1, and October 1. Please call 937-766-7665 for the current rate. For more details please request a current PIC-Plan brochure from the Cashier's Office. Withdrawals from a Student Account (Credit Balance) Students may withdraw funds from their account if the account has a credit balance. Cash withdrawals totalling $50 maximum may be made on a weekly basis. No more than two cash withdrawals may be made in a week. No withdrawals are allowed during the week of financial registration. Withdrawals of amounts greater thaw $50 are issued by check upon request in person, by e-mail, or by telephone from the cashier's office. Check processing normally requires one or two full business days.