Financial Responsibility

OSU Institute of Technology corresponds electronically with students using the O-Key university email address. I understand I am responsible for regularly reading important information sent to my O-Key email account and for taking action on any important correspondence sent to this address and adequate email space is available to ensure correspondence is received.

 

I understand enrollment at OSUIT constitutes a contractual financial obligation to pay tuition and fees for classes in which I am enrolled. I further understand my financial obligations are due by the university set due date each semester.

 

I understand I will receive an email notification when my billing statement is available to view online. Statements are located online through the Banner portal.

 

I understand my account information can only be released to me. It is my responsibility to notify my parents/legal guardian of my account balance or I can set up my parents/legal guardian as an authorized user to access my statement through the authorized user link located on the Bursar's Office website.

 

I understand in the event I have a return check on my account I will be charged a $20 return check fee. I understand I am responsible for all dishonored payments which have been presented on my behalf. I understand if a payment is returned to the university by the bank and the payment was made to get enrolled, the Bursar may cancel my enrollment during the drop/add timeframe and may require certified funds for hold clearances.

 

I understand financial aid funds automatically pay all charges incurred on my bursar account unless I restrict my Title IV funds to only pay tuition/fees, housing/meals, books by completing the bursar form.

 

I understand once all my financial aid is applied to my Bursar account, I am responsible to pay any charges still outstanding and new charges by the due date.

 

If my federal or institutional financial aid is either not received by OSUIT or I lose my eligibility to retain financial aid for the semester, I assume responsibility for paying all student obligations.

 

I understand if I enroll prior to the enrollment hold being placed on my account, my enrollment is subject to cancellation if my balance is not paid to current. I also understand if I am participating in the Payment Plan and my payments are not current, my enrollment is also subject to cancellation.

 

I understand failure to pay my account prior to the 15th of the month will result in my account assessed a 1 percent monthly late charge on any past due balance.

 

I understand if I have a past due balance I will lose my charging privilege on campus. This does not affect a meal plan unless the contracted amount is used.

 

It is my responsibility to know the university’s drop and withdraw policy including deadlines. It is also my responsibility to drop or withdraw myself from my classes. My failure to drop or withdraw in a timely manner does not relieve me from my financial responsibility to the university for tuition and fees.

 

I also understand if I enroll in classes or my advisor enrolls me in classes and I do not attend these classes, I am still held responsible to pay the required tuition and fees if I fail to withdraw by the designated dates.

 

I understand if I drop, withdraw, graduate, or do not return to the university, it is my responsibility to update my address, phone number, and email address.

 

I understand if I have a student Direct Subsidized/Unsubsidized Loan and/or Perkins Loans, I am responsible for completing the required exit counseling upon leaving the university.

 

I understand if I have a university outstanding balance, holds are placed on my account and I will not be able to enroll in future semesters nor receive an academic transcript or diploma.

 

I consent to being contacted on all phone numbers, including cell phones, provided to the university as a source of contact. This includes contact from its agents, representatives, and attorneys (including collection agencies) for purposes of collecting any portion of your account financial obligation which is past due.

 

I understand if I am a sponsored student through a third party contract, payment will be made directly to OSUIT after I have met the requirements as outlined by the third-party sponsor. I am ultimately responsible for payment of my account by the school’s prescribed deadlines unless otherwise agreed upon in writing.

 

I understand if I have an unpaid balance to the university and do not make satisfactory payment arrangements, my account will be placed with an external collection agency. I will be assessed collection fees (up to 33 percent of the original debt), legal costs and attorney fees. This will result in endangering my credit rating on a local and/or national level by being reported to all three credit bureau’s (Equifax, TransUnion, Experian). The University will also exercise the right to request an Oklahoma State Tax refund hold to offset the outstanding debt.

 

I am aware Oklahoma law has jurisdiction and any disputes arising shall be determined in accordance with the law of this jurisdiction.