Financial Responsibility
I understand that when I register for any class at Ohio Wesleyan University or receive any service from Ohio Wesleyan University I accept full responsibility to pay all tuition, fees and other associated costs assessed as a result of my registration and/or receipt of services. I further understand and agree that my registration and acceptance of these terms constitutes a promissory note agreement in which Ohio Wesleyan University is providing me educational services, deferring some or all of my payment obligation for those services, and I promise to pay for all assessed tuition, fees and other associated costs by the published or assigned due date.)
I understand and agree that if I drop or withdraw from some or all of the classes for which I register, I will be responsible for paying all or a portion of tuition and fees in accordance with the published tuition refund policy. I have read the terms and conditions of the published tuition refund schedule and understand those terms are incorporated herein by reference. I further understand that my failure to attend class or receive a bill does not absolve me of my financial responsibility as described above.
Definition of “student account”
You have a unique student financial account that was established for you after you deposited and registered for classes. This account uses the Student Identification Number (ID) to identify you, for the purposes of maintaining your account. This account becomes a part of your permanent information file at OWU, and remains even if you graduate or cease to be enrolled. Your student account will include all the charges and credits assessed to you during your enrollment at OWU. Some examples include, but are not limited to: tuition, room, board, and fees, financial aid credits and adjustments, payments made to your account, service charges for late payment, and various fines, such as library and parking violations. (For a complete list, please refer to the Financial Planning Guide or the OWU Catalog.) You have the right to request a copy of your student account at any time by contacting the Student Accounts Office during regular business hours.
Account Statements and Billing Information
Each month, a billing statement will be emailed to the student and/or authorized user which the student designates. If your balance is zero, no statement is emailed. The statement will detail charges, payments and other credits to your Account during the statement period, including the amount you must pay and the date it is due. You agree to notify us promptly of any change in billing address or change in the authorized party.
Educational Loan
Your student account is considered by OWU, a non-profit institution of higher learning, to be an educational loan made to you to assist in the financing of your education, and therefore is not dischargeable under the United States Bankruptcy Code. The outstanding balance due on this loan is subject to service charges as established in the current OWU catalog, and the University has the right to recover any collection and/or litigation costs incurred in the collection of any amount due.
Credit Balances on your Account
If your financial aid, including any disbursements of Title IV funds such as Pell grants or Federal loans, create a credit balance on your student account, or if any payments that you make, overpay the charges on your account, we will hold these credits on your student account to be used against the charges of future terms of enrollment, unless you contact the Student Accounts Office to request a refund of the overpayment, or you cease to be enrolled.
Promise to Pay
By registering for classes with OWU, you promise to take financial responsibility for the payment of all your education related charges and fees that become a part of your student account, when those charges are due. Any balance due to the University as the result of adjustments made to your estimated or confirmed financial aid or your refusal to apply for any or all of your financial aid, or your inability to complete the financial aid verification become your responsibility for payment. You agree to supply the Financial Aid Office with any reasonable information or documents that they may request to complete the verification process in a timely manner.
When an account becomes “past due”
Tuition and charges related to your enrollment as a student at OWU are due and payable on the due date on each statement. Accounts not paid in full by the due date are subject to late fees as published in the Financial Planning Guide and the latest OWU catalog. When charges remain unpaid after the established deadlines, the account is considered to be “past due” and the student’s registration for future semesters of enrollment will be blocked. When a student’s account becomes past-due, the University will place a hold on the release of official transcripts until the account becomes current. If the student account remains past due after 90 days from the due date of the account, the University has the right to place the account with an outside collection agency to assure payment of the outstanding debt, and to recover from the student any and all costs involved with the collection of the debt.
Accelerated balance due
Immediate payment of the full amount that you owe us (including collection costs, attorney fees, court costs and any other expenses that may be incurred in enforcing our rights under this agreement to the extent permitted by law) may be required at the option of the University without further action by or notice from us if:
1) You fail to pay the “past due” balance as defined above, or break any of the other terms of this agreement with us.
2) You cease to attend OWU for any reason.
3) You give us false information about yourself or your credit-worthiness or any prior undisclosed attendance at any other institution of higher learning.
4) If we learn that you are in default on any Title IV obligations to repay loans or grants and therefore are ineligible for disbursement of any new Title IV funds as awarded by the Financial Aid office.
5) We have reason to believe that you will not repay either your OWU student account, or your federal Title IV loans.
6) You file for Chapter 13 or Chapter 7 relief under the United States Bankruptcy code.
Your rights as the borrower:
1) You have a right to clearly understand the financial obligation that you are accepting by enrolling as a student at OWU.
2) You have a right to fair and equal treatment by the University and any of its official agents in the administration of your student account.
3) You have a right to have your questions about your account respectfully answered until you understand.
4) You have a right to dispute any and all charges and credits to your student account by following the proper procedure for disputing items (example: parking fees, contact Public Safety) on your account as contained in this document.
5) You have a right to respectful and honest treatment by the staff and administrators of OWU and its agents.
6) You have a right to privacy concerning your student account and you may restrict access to your account by submitting this request in writing to: Office of Student Accounts, 61 South Sandusky Street, Delaware, Ohio 43015.
Our rights as the credit grantor:
1) We can delay or waive any of our rights without losing them permanently.
2) As part of this agreement, you authorize us to investigate you or your co-signers’ credit-worthiness as part of the process of granting you credit to finance your education at OWU, as we deem necessary. You also authorize us to report your account status with consumer credit reporting agencies, as defined by the Fair Debt Collection Practices Act.
3) We can cancel your student account anytime by notice given to you in person, by phone or by notice sent to the same address where we mail your billing statement. If your account is canceled, you will be required to pay the full amount that is due immediately, including any amounts due, but not yet billed.
4) We can change the terms of this agreement at any time. When we are required to give you notice, we will notify you by posting any changes in our office or on the OWU website, unless federal or state law requires us to give you written notice.
5) Your account is subject to applicable Ohio and federal laws. If the law makes part of this agreement void, the other terms will be valid and enforceable.