Liability and Student Responsibility
It is the responsibility of the student to ensure that Molloy University has a correct mailing address at all times. Failure to receive a Student Statement of Account will not exempt the student from the responsibility to pay the balance on the assigned due date, nor will it exempt the student from having a Bursar Hold placed on their account. The student may also be liable for late penalties. Accounts with outstanding unpaid balances may be assigned to a collection agency. The student is responsible for payment of all financial obligations including all costs associated with the collection of this debt. The collection fee will be calculated at the maximum amount permitted by applicable law, but not to exceed 33.3 percent of the amount outstanding. For purposes of this provision, the third party may be a debt collection company or an attorney. If a lawsuit is filed to recover an outstanding balance, I shall also be responsible for any costs associated with the lawsuit such as court costs or other applicable costs. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus.