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Revolving Charge Agreement
Terms and Conditions
All students, staff and faculty at Southern Oregon University who are either enrolled or incur any charges will establish a Revolving Charge Account after returning the acknowledgment set out below. This plan allows students, staff and faculty to pay tuition and other charges with more flexibility than if payment were required upon registration or receipt of services. Any person who incurs charges, fines, or penalties at Southern Oregon University establishes a Revolving Charge Account Plan and agrees to its terms and conditions. The Southern Oregon University Revolving Charge Account Plan is fully set out in Oregon Administrative Rule 573-015-0010, a copy of which is available by mail or at the Business Services office.
Any student, staff or faculty member who has not signed the Revolving Charge Account agreement, will not be able to access Banner Self-Service until this agreement has been accepted.
- Eligibility. If you incur charges, fines, or penalties at Southern Oregon University and you have established a Revolving Charge Account and you have agreed to its terms and conditions by returning the acknowledgment below, you may pay charges as set out herein. As a student, any credit extended to you is an educational benefit or loan.
- What is the RCA Plan? A Revolving Charge Account (RCA) is similar to a credit card account in that you are billed on or about the 10th of each month and requested to pay a minimum due amount by a specific date to avoid late fees or penalties. Due dates for various charges may vary, and Southern Oregon University will apply all scholarships, grants, fee remissions, and loans to your account in accordance with applicable federal or state regulations before any money is released to you.
- What does it cost to use the RCA?
- Service Charge. If all tuition and housing is not paid by the required date in any given term, a $15.00 charge will be added to your account for the use of the plan. This allows deferral of two-thirds of tuition and two-thirds of housing costs until the first day of the closing month of the term. Short-term loans, which are separate loans granted on merit, require an additional $15.00 charge. Should a check tendered for payment of any charge or service be returned by the bank, a $29.00 charge is assessed.
- Interest. Southern Oregon University charges interest on account balances not paid within the grace period. Interest is charged on the previously billed amount at an annual interest rate of 9.00 percent. The interest is computed by applying the periodic rate to the previously billed amount remaining on the account as of the billing date. The previously billed amount is multiplied by the periodic interest rate, multiplied by the number of days since the last interest calculation, and divided by 365 (this adjusts to a monthly rate from the annual rate).
- Penalties. Although we prefer not to use such remedies, Southern Oregon University has the right to impose penalties on delinquent accounts as follows: (a) registration may be denied or canceled; (b) the extension of credit, provision of services, grade reports, transcripts, diplomas, and graduation may be withheld; (c) eviction from student or family housing may result when past-due amounts relate to housing or family housing charges; (d) report may be made to credit bureaus; (e) accounts may be submitted to the Oregon Department of Revenue or outside collection agencies; (f) Oregon state tax refunds may be withheld and applied to the delinquent account.
- Collection Costs. Accounts may be referred to the Oregon Department of Revenue and/or outside collection agencies. I agree to reimburse Southern Oregon University the fees of any collection agency, which may be based on a percentage at a maximum of 28% of the debt, and all costs and expenses including, but not limited to reasonable attorneys’ fees Southern Oregon University incurs in such collection efforts. In addition, I understand and agree that past-due accounts not paid in full by the beginning of the following term may be assessed an institutional collection fee of 15 percent of the amount due and that charges may be assessed for each collection letter and call and I agree to pay all costs, fees and charges incurred in the collection of any amount not paid when due, including but not limited to, credit reporting fees, skip-tracing services fees, Oregon Department of Revenue charges, collection agency charges, reasonable attorney’s fees, (including attorney fees on appeal) and court costs.
- Address updates. Until all outstanding account balances are paid in full, you are solely responsible for notifying Business Services immediately of any change in your name or address. Southern Oregon University cannot be responsible for interest, penalties, or collection costs assessed if we are not provided with your current address in a timely manner.
- Authorization: I authorize Southern Oregon University, and its respective agents and contractors to contact me regarding my account, including payment of past due amounts, at the current or any future number that is provided for my cellular phone or other wireless device using automated telephone dialing equipment or artificial or pre-recorded voice or text messages.
- Billing rights summary. You may challenge a charge within 60 days after the first bill (unless other restrictions apply) on which the suspected error or problem appeared by directing your inquiry to the Southern Oregon University Raider Student Services, 1250 Siskiyou Blvd., Ashland, OR, 97520; by telephoning the Southern Oregon University Raider Student Services at 541.552.6600 ; or by e-mailing the Southern Oregon University enrollment services staff at email@example.com
- Required payment. Once you have incurred charges, whether they are tuition, housing, or other fees, fines, or penalties, you will be billed on or about the 10th of every month. Your bill will indicate several account amounts in the summary of accounts section to give you a full understanding of your account status. You must pay (a) all past-due amounts and (b) at least one-third of the current term’s tuition and fees by the designated due date. Any unpaid balance is subject to the terms and conditions of the Revolving Charge Account. You must have a past due balance of no more than $7,00.00 to register for classes or $12,000 if you received aid or completed a FAFSA in the most recent term. The option always exists to pay the unpaid balance in full. Specific payment dates are listed in the Registration Handbook. Southern Oregon University may deny use of the minimum payment privilege to persons who do not have a good credit history or who have been in default status on student loans.
- Notification of changes. Southern Oregon University may amend these Terms and Conditions without securing a new agreement. Southern Oregon University will notify you of any changes in interest, charges, or fees in advance of the change. You have the right to pay your account in full at any time. If you do not, you will be bound by the changes.
- Delinquent account: An account to which required payments have not been made.
- Due by: Date on which the total charges are due to avoid interest or the date by which the minimum due must be paid to avoid an account hold. Also referred to as due date.
- Future due: Amounts shown on the account which are due at a future date, not in the current billing month.
- Grace period: Time period between posting charges to an account and the date on which accrual of interest begins.
- Minimum due: Specifies the minimum amount you must pay on or before the due by date indicated on the bill.
- Past due: Total of past-due amounts—including fees, charges, and prior interest and penalties—less payments and credits received to date. Past due does not include any new charges added to an account since the last billing or any charges assigned future due dates. Amounts are considered past due when not paid by the due by date, and Southern Oregon University may impose penalties on these amounts.
- Previously billed: Indicates the total account balance of your last statement. This is the same as the total due on your last billing statement.
- Student: Any person who is currently or has in the past been enrolled at Southern Oregon University.
- Total charges: The total charges itemized as current charges on your bill.
- Total credits: The total credits or payments itemized as current payments on your bill.
- Total due: Total amount of account balance at the time of the billing.
*To comply with the Taxpayer Relief Act of 1997, Southern Oregon University must obtain your correct social security number (SSN) to file returns with the Internal Revenue Service (IRS) and to furnish a statement to you. The returns filed by SOU must contain information about qualified tuition and related expenses. The Privacy Act of 1974, section 6109 of the Internal Revenue Code, requires you to give your correct SSN to agencies who must file information returns with the IRS. The IRS uses your SSN for identification and to verify the accuracy of your tax return. For more information please refer to Internal Revenue Code section 6050S.