6-11.1 Collection of Loans, VA Deferments, and Other Student Accounts Receivable

POLICY: 6Hx28:6-11.1
Responsible Executive: Vice President, Business Operations and Chief Financial Officer
Policy Contacts:
Specific Authority: 1001.64, F.S.
Law Implemented: 1001.64, F.S.
Effective Date: 09-16-2008
Date of Last Policy Review: 09-16-2008

 

Policy Statement:

 

The Vice President of Business Operations and Finance will have the responsibility for coordinating the collection of loans, delinquent deferments, and other accounts receivable. A

$25.00 service charge will be added to all delinquent loans and deferments. Every effort will be made by the college to collect the delinquent account before it is submitted to a collection agency. In addition to the amount of the unpaid account, the collection agency will be authorized to collect the $25.00 service charge and the collection agency's standard fee.

 

Procedures:

  1. The student financial aid office will provide the business office with all pertinent information relative to these accounts when necessary.

  2. The business office will send a reminder letter to the student two weeks prior to the due date of the loan or deferment.

  3. If the loan or deferment is not paid by the due date, the student's record will be marked and until the indebtedness is paid, the student will be unable to enroll in future sessions or receive transcripts or grades.

  4. If all attempts to collect the delinquent loan or deferment fail, the account will be turned over to a collection agency.

 

Policy History:

 

Adopted 12-15-82; Amended 11-18-92; Amended 2-15-95; Amended 1-21-98; Amended 9-16-

08; Formerly 6Hx28:06-19

Procedure History:

 

Adopted 12-15-82; Amended 11-18-92; Amended 2-15-95; Amended 1-21-98; Amended 9-16-

08; Formerly 6Hx28:06-19

Last Date of Procedure Review: 09-16-2008

Print Article