Tuition and the health plan must be paid in full by the tuition and health plan payment deadline (see academic calendar for deadlines). Failure to pay the full amount or arrange other financial support with the College will result in a late fee of 10% of the amount due, plus18% interest per annum. Additionally, a hold will be placed on the student account, which will block the account from any activity (registering for future semesters, requesting grades or transcripts, etc.). This hold will remain on the account until the balance is paid in full.
Dropped Classes for Non-payment
In addition to late fees and interest, students will be given one week after the payment deadline to contact the cashier office and make payment arrangements. If the student fails to make payment arrangements by the end of the one-week period, the student’s classes will be dropped. Students whose classes are dropped for non-payment will have a hold placed on their account and will be required to make a 30% down payment prior to being able to register for future semesters at LDSBC.
Failure by the College to make contact with the student during this process does not relieve the student of their financial commitment.
Students who make payment arrangements with the cashier office, but do not comply with the terms of their agreement, will be withdrawn from their classes.
Affect of Drop on International Students
In the event of international students, a withdrawal will result in the cancellation of their I-20.
Reinstatement of Classes Dropped for Non-payment
The first time a student’s classes are dropped for non-payment they will be given one week from the withdrawal date to contact the cashier office to make payment arrangements. Students who make payment arrangements within the week can have their classes reinstated by the Registrar. After 5:00 pm on the 5th business day the student’s classes will not be reinstated.
The second time a student is withdrawn from their classes for non-payment during their academic career at LDS Business College their classes will no longer be eligible for reinstatement.
Students who do not pay the balance due in full will have their accounts sent to a collection agency. The College will charge students a collection fee of 33.33 percent or more, depending on the charges from the collection agency. The additional 33.33 percent will become due the day the collection agency receives the account if payment has not been received by the College.
Reporting to Credit Bureaus
When uncollected balances are sent to the collection agency they will also be reported to the credit bureaus.