Calculation of Penalty and Interest
Charges are considered delinquent 90 days after the due date. Interest is assessed on the unpaid balance when a charge becomes delinquent and is calculated at the rate of 5 percent per year until paid. A one-time 10 percent penalty will also be charged. Late-payment penalty and interest charges are considered payable when charged.
In addition to incurring interest on an unpaid balance, students may also incur a hold on their account, may not be allowed to register, and their schedule may be cancelled. If the account remains unpaid, the University will submit the account for collection in accordance with state guidelines.
GI Bill Recipients – With proper documentation, the university will not charge interest for students attending under the GI Bill until after the last day of exams for the current semester. For complete information on paying under the GI Bill, please see the Veterans Education Payment Deferment Plan