Student Accounts Financial
Agreement
2023 Winter & 2024 Spring Terms
I, the above-named student at Oklahoma Wesleyan University (OKWU), understand that I
am registering for educational services at OKWU. I hereby acknowledge and agree
that I am fully responsible for the cost and expense of all tuition, fees,
housing, food, books, fines, and/or other related educational expenses
(Charges) at OKWU. I hereby also acknowledge and agree to abide by the
terms and conditions of this Financial Agreement for Educational Services
(Financial Agreement) at OKWU and recognize that it is applicable to the 2023 Winter and 2024 Spring Terms as well as any previous terms I have attended at OKWU.
Financial Agreement for
Educational Services at Oklahoma Wesleyan University
Under
this Financial Agreement, the University may allow a credit on a student’s
account for educational services to cover the cost of tuition, fees, housing, food plan, and fines, and that I must make payment arrangements to cover these
costs over the course of the academic term.
Terms and Conditions:
- I hereby accept and agree that the University may allow an
extension of credit upon my student account in an amount equal to the Charges
as established by OKWU for the academic term.
- I hereby agree that the extended credit amounts on my student
account shall be used solely and strictly to pay for the costs of Charges in
the manner and method as set by OKWU Student Services. To view an outline of
tuition, fees, housing, and food plan costs, visit the Student Accounts
section in the University Catalog.
- I understand that if I incur any additional charges, such as
costs associated with payment plan fees, fines, books, bank returned checks, or other miscellaneous costs, that such expenses
will be due to OKWU; I
hereby agree that I am solely and fully responsible for the payment of these
expenses to OKWU.
- I understand that in the event I withdraw from OKWU, I shall do
so according to the guidelines established by OKWU in the Reimbursement Policy section
of the University Catalog. If I withdraw, I understand and hereby agree to pay
OKWU for all charges associated with these classes and residency at OKWU, if
applicable, as calculated according to OKWU’s Withdrawal Policy. If I withdraw
from the university, my full balance becomes due immediately. If I am unable to
pay the full balance, I will coordinate with the OKWU Student Accounts Office
to create a payment arrangement. Failure to establish a payment arrangement
and/or pay the balance may result in being sent to an outside collection
agency.
- I understand that I am responsible for maintaining my current
address and phone number even if I am no longer enrolled at OKWU by notifying
the Registrar’s Office immediately of any change.
- I agree that this Financial Agreement creates certain financial
responsibilities which constitute a loan between me and OKWU to assist in the
financing of my education, and I further understand that such financial
assistance may not be dischargeable in accordance with the United States
Bankruptcy Code in any bankruptcy proceeding before the United States
Bankruptcy Court.
- All students are required to be in good standing on their OKWU Student Account to register for the upcoming term. Good standing means the student is current on a monthly payment plan or has a balance due under $2,000.00 with payment(s) made within the current term on their account.
- All students are required to pay their balance in full before attending classes at the beginning of each term/session or if approved by OWKU Student Services, establish a Payment Plan that will allow for full payment during the term.
- I understand that if I am unable to pay the Charges in full
prior to the start of classes, I will coordinate with the OKWU Student Services
to create a payment arrangement under which I shall make deferred payments
toward the balance of my OKWU student account to repay the University by the
end of the term the amount(s) credited to me. Due dates shall be set at
the time of payment arrangement.
- I hereby
agree that if I fail to make the minimum payment amount(s) in accordance with
the payment arrangement or plan and/or pay the University the full amount of
monies owed, the following conditions will apply:
o The
University may assess a 6.0% per annum late fee based on the minimum amount
due;
o The
University may place a hold on my ability to register for future courses until
the balance of my account is paid in full;
o The
University shall place a hold on the release of my academic records (includes
transcripts and/or diploma) until the balance of my account is paid in full;
o The
University may refer my outstanding debt to an external collection agency for
collection pursuant to state and federal law, which may result in collection
costs of up to 50% being added to any outstanding balance or debt. In the event
of a referral of my debt to an external collection agency, I hereby agree to be
responsible for all collection costs of up to 50% incurred by the University,
including any service charges and/or interest. In the event the services of an
attorney are required to collect an unpaid balance, I acknowledge that I will
be responsible to pay all lawful attorneys’ fees, plus all court and other
collection costs;
o This
Financial Agreement shall be construed in accordance with Oklahoma law and any
lawsuit to collect unpaid fees may be brought in the appropriate court sitting
in the State of Oklahoma regardless of my domicile at the time of bringing such
suit. In the event of litigation, I agree to pay all costs associated with
such, including but not limited to, attorney and legal fees; and/or
o The
University and/or an external collection agency may report my delinquent debt,
which may negatively impact my credit history and score, to a national credit
bureau.
Reimbursements will not be issued until the account
balance is Paid in Full.