1.6.1 Receivable - Student (Revised as of 7-14-15)
A student account receivable is defined as monies owed the University for an Educational Debt. Student accounts receivable are created primarily from deferred tuition, federal student loans, and institutional student loan programs.
When a student account receivable becomes delinquent, the university takes various steps to collect the debt. The first step is to place a "hold" on the student's record thus preventing further registration and the issuance of transcripts and diplomas. If the student is a university employee the amount due is deducted from a pay or other university issued check.
When internal collection efforts fails, the account is placed with an outside collection agency. The collection agency charges a collection fee in addition to the balance owed the university and reports the receivable to various credit reporting agencies. Finally, the unpaid receivables may be turned over to an outside attorney for the appropriate collection action through the court.
Student account receivable balances are never written off even though all collection efforts may fail. The account is placed in an inactive status with the student record "hold" remaining in effect indefinitely.