Financial Policies

This policy governs the extension of internal loans from the University’s working capital for the purpose of financing construction.

The billing of student tuition, fees and charges depends upon the proper and timely registration of students.

To establish responsibility and authority for the billing, collection and administration of student tuition, fees and other charges.

Students may be eligible for a full or partial refund of tuition, fees or financial assistance.

To identify the circumstances under which deferments of tuition, fees, and other charges may be granted to a student. Temporary credit may be issued to students awaiting receipt of external loans, financial aid, or other funds from external sources such as scholarships, sponsors, governmental agencies, and faculty/staff benefits. Temporary credit within the Pennant Accounts Receivable system is designated as a memo or an 'authorization'.

To encourage timely payment of student tuition, fees and other charges.

To ensure that certification of loan eligibility from all external Federal, State and private loan programs is performed in compliance with all applicable governing regulations. Also, to ensure that all loan disbursements from external sources are recorded in the applicable University system(s) and credited to student tuition accounts according to loan program requirements.

To receive reimbursement for a returned payment.

Financial hold to assist in the collection of past due amounts.

The University may engage in sales and service activities in support of its tax-exempt charitable mission of instruction, research, and public service. Effective financial management of such sales and service activities requires adherence to all University Financial Policies. These include but are not limited to Inventories, Extension of Credit to Outside Third Parties for Sales and Services, Collection, Reporting and Payment for all States Sales and Use Tax, Sales and Service Activities, and Internal Control Policies.