Proposed Revisions to 940.6 - Fee Deferment
It is the intent of the Board that each campus provide a deferred payment plan for students not able to secure other reasonable lines of credit through private financial institutions. Campuses should exercise due diligence in providing credit and every reasonable effort should be made to minimize uncollectible accounts.
student fee deferment policy is established utilizing the following procedures: Procedures :
unit on semesters
is authorized a deferred fee payment plan providing:
(a) at least one-fourth of the total fees and charges is paid at the time a student enrolls;
(b) one-half of the total fees and charges have been paid no later than 30 days after the first official class day;
(c) three-fourths of the total fees and charges have been paid no later than 60 days after the first official class day;
(d) the full amount of the deferred fees and charges is paid no later than 90 days after the first official class day; and
(e) A campus may offer deferred payments during a summer term and the same provisions apply as during an academic year term, except the payment dates should be adjusted to insure full payment of deferred fees and charges prior to the end of the summer term.
2. In calculating the amount of fees to be deferred, a campus must first apply the student financial aid that is available at the time of registration. All available financial aid up to one-fourth (1/4) of the total assessed must be applied. Available financial aid beyond the one-fourth (1/4) may be applied against the fees to be deferred subject to the policies of the individual campuses.
3. In order to accommodate the late receipt of pending financial assistance, a unit, on a case-by-case basis, may adjust the minimum amount to be paid at the time the student enrolls or the repayment terms specified above.
4. An administrative charge shall be levied in the amount of $30.00 per semester for each approved deferred installment.
5. Student fee deferrals will be granted on a semester basis. All regular fees and charges for the current semester, including board and room, assessed at the time of scheduled fee payment may be included in the deferral.
6. Failure to make deferred payments in accordance with the scheduled repayment plan may be cause for cancellation of a student's enrollment with no refund of amounts previously collected. Students may be determined ineligible for a deferment the following semester.
7. In case of default or delinquency in the repayment of all or any part of a scheduled installment a late charge of $15.00 shall be assessed against each late installment. The student will assume liability for any subsequent collection costs incurred by the institution or the state.
8. The administrative charge or late payment charge may be waived by the institution for extenuating circumstances.
develop written procedures defining eligibility criteria and administrative
procedures necessary to implement this policy.
Item 224-004, September 11, 1972; Item 3-004-R1273, December 10, 1973 as revised January 7, 1980, July 30, 1982, May 7, 1991, and December 13, 1991.