5.12.5 Payment Plans Procedure
Part 1. Purpose
To present a clear and concise framework of payment plan options available to students.
Part 2. Payment in Full
In accordance with System Procedure 5.12.3, all students must pay in full no later than the Central Lakes College’s tuition and fee payment due date unless they have entered into a NelNet payment plan. Students are required to pay or initiate a payment plan for any balance due that will not be covered by financial aid or waivers. A payment plan may be the student’s primary method of payment, or it may supplement other forms of payment such as financial aid or tuition waiver.
The sum of all payments must equal the total amount due. A late fee shall be charged for all payments not received by the due dates in accordance with Board Policy 5.11. Failure to make required payments on a timely basis will subject a student to a registration hold. The student’s account balance must then be paid before the student may register for the next term.
Subpart A. Registration holds
Payment plans that are not current will subject a student to system registration hold criteria for the next term in accordance with System Procedure 7.6.2, unless the delinquent plan is paid in full prior to registration.
This registration hold requirement applies if the student is in an active payment plan but fails to make the final scheduled payment by the due date. This would result in the cancellation of any new term class registrations.
Subpart B. Partial payments outside of formal payment plans
A student who has made a partial payment by the tuition and fee due date directly to the Central Lakes College in an amount equal to or greater than the minimum down payment requirements will be placed on a college payment plan in accordance with this procedure. Students will be charged a payment plan fee in accordance with Board Policy 5.11.
Part 3. Payment Plan Options
Students are offered multiple payment plan options from NelNet, a single source fully supported by and interfaced with ISRS.
Subpart A. Fall, spring and other terms at least 12 weeks in length
Student options must include a plan consisting of four payments generally four weeks apart with the first payment due no later than the established tuition and fee due date. The final payment of the student’s remaining tuition and fees balance is due no later than the last business day of the thirteenth week of the term or the last week of the term if earlier.
Subpart B. Summer and other terms at least five but less than 12 weeks in length Student options must include a plan consisting of two or three payments generally four weeks apart with the first payment due no later than the established tuition and fee due date. The final payment of the student’s remaining tuition and fees balance is due no later than the last business day of the term.
Subpart C. Terms less than five weeks in length
Payment plans will not be used for terms less than five weeks in length.
Subpart D. Past due payment plans
Central Lakes College may provide a payment plan for a student with a past due balance from prior academic terms. If the student enrolls in a payment plan for past due balance, the president or designee may approve the temporary lifting of a registration hold to allow the student to register for the current term. If such an exception is granted, the Central Lakes College shall document the reasons for granting the temporary lift of the registration hold.
Date of policy creation: April 26, 2017
Author(s): Christina Anderson, Director of Business & Auxiliary Services
Date of implementation: May 01, 2017