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Longwood University |
Policy
4301
COLLECTION
OF STUDENT ACCOUNTS
I. PURPOSE
The purpose of this policy is to establish a standard of prompt payment of student bills.
II. POLICY
Student accounts for tuition and fees must be paid in full or secured to the satisfaction of the Director of Cashiering and Student Accounts (CSA) prior to completion of registration. An account may be secured in lieu of cash payment by any of the following methods:
A. Verification by Financial Aid that student has aid.B. Verification in writing from outside agency that a scholarship or grant is in process.
C. Contract under the Monthly Payment Plan.
III. PROCEDURE
If the account becomes delinquent due to default on any of the
above categories, the following collection procedures will be implemented:
A. Student Accounts Office:
1. The University bills full-time degree seeking students each semester. Accounts are reviewed during the semester for balances due. A final billing letter is mailed to the student's current home address before the end of each semester for all balances due. This letter outlines the University's collection procedures and informs the student of the tax set-off policy for delinquent accounts.2. Students with balances due are subject to withdrawal from the University. Registration and transcript holds are placed on the student's account. For specific information related to the withdrawal from the University for non-payment, please see Board of Visitors Policy 4315 - Policy for Unpaid Student Accounts.
3. All accounts, which are not settled within thirty (30) days from the end of the semester, will be submitted to a collection agency with collection costs added to the account.
4. The accounts will be listed with Virginia Department of Taxation to be applied against any monies due to the student from the Commonwealth of Virginia.
5. Accounts of three thousand (3,000) dollars or over which are uncollectable may be submitted to the Attorney General to take the appropriate legal actions toward collections.
6. Accounts under three thousand (3,000) dollars which are returned to the University by the collection agencies as uncollectable will be submitted to the Vice President for Administration and Finance for write-off.
7. Accounts of less than five (5.00) dollars may be written off with permission of the Director of CSA without approval of the CAFO.
8. Write-off authority shall be vested in the President of the University or his or her designee.
B. Student Loan Delinquency:
1. All loans which become one hundred twenty (120) days delinquent will be submitted to the collection agency with collection costs added to the loan.
2. All short-term loans which are delinquent at the end of an academic year will be converted to long-term loan status with the same collection procedures applied. The Registrar will be notified not to release the student's transcripts. The account will be listed with the Virginia Department of Taxation to be applied against any monies due to the student from the Commonwealth of Virginia.
3. Accounts of one thousand (1,000) dollars and over which are uncollectable will be submitted to the Attorney General to take appropriate legal action toward collection.
4. Accounts under five hundred (500) dollars which are returned to the University by the collection agency as uncollectable will be submitted to the Board of Visitors to be written off when they have been in a delinquent status for two (2) years.
5. Accounts which are returned by the Attorney General as uncollectable will be submitted to the CAFO for write-off.
Approved by the Board of
Visitors May 8, 1981.
Revised and approved by the Board of Visitors, September 7, 2002.
Revised and approved by the Board of Visitors, December 10, 2005.
Revised and approved by the Board of Visitors, March 24, 2007.