Changes to Student Account

The following represents regulatory items related to Federal Student Aid and service enhancements which will affect your student account starting with early registration in March 2011.

• Compliance with Federal Student Aid Regulations
  • The University can only use $200.00 of current year excess Federal Student Aid to satisfy a prior year balance. To accommodate this requirement the University must:
    • Update how refunds are calculated
    • Reduce allowable balance to register from $999.00 to $200.00
  • Obtain the student’s permission to use Federal Student Aid to pay all charges incurred at the University.
  • For Parent PLUS Loans obtain permission from the parent to disburse excess funds from this loan to the student.
• Service Enhancements
  • Elimination of the current “payment plan” and move to a “payment program”. Payment dates will still apply and will be adjusted slightly from the current payment plan.
  • Elimination of the $50.00 deferred payment fee (except employer reimbursement plans) and $500.00 delinquent payment penalty and replacing with a $250.00 non-reversible charge to be assessed once all payment due dates have past and a balance remains on the student account.
  • Improved student account balance correspondence. Provide consistency of information among Web Advisor, customer service representations, and student account statements.