1904 - Deferments

Document purpose

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'.

effective

January 1989

revised

May 2025

Reviewed

May 2025

Responsible Office

Student Registration & Financial Services

Approval

Student Registration & Financial Services

The Policy

  1. Issuance of Temporary Credit

    • Temporary credit may be issued to students awaiting receipt of external loans, financial aid, other funds from external sources, and faculty/staff benefits.
  2. Authority and Administration

    • The Office of Student Registration & Financial Services (SRFS) is authorized to grant and administer temporary credit for student charges.
    • When an award is determined but the student has outstanding requirements, a memo in the amount of the award will be placed on the student account.
    • When an award is determined and all requirements have been met, but disbursement is scheduled for a later date, an authorization is placed on the student account.
    • Both memos and authorizations reduce the outstanding balance due and are reflected on the student’s monthly billing statement.
  3. Limitations on Credit Amounts

    • Temporary credit granted to students awaiting financial assistance may not exceed the amount of the expected funding.
  4. Expiration of Temporary Credit

    • Temporary credit will expire according to a schedule determined by SRFS.
  5. Special Circumstances

    • Schools and centers may request that SRFS apply temporary credit for pending financial resources in special circumstances.
    • Such requests must be reviewed and approved by SRFS prior to application of the temporary credit.