Past-Due Balance Policy
Students are responsible for the payment of tuition/room and board bills by the due date as stated on the Student Statement of Account Invoice. The following information includes the billing process and procedures regarding student account balances.
It is the responsibility of the student to ensure that the billing address is correct.
The exact due date will be printed on the initial billing invoice. This date is linked to the General Registration date. On or after this date, any student who registers for Fall or Spring semesters must pay in full upon registration.
Payment for the Fall Semester is due early August, as noted in the Academic Calendar.
Payment for the Spring Semester is due early January, as noted in the Academic Calendar.
Students who fail to comply with the statement due date will receive monthly past due invoices for a minimum of three invoices per semester. In addition, a Bursar Hold will be placed on the student account.
The consequences of a Bursar Hold include:
- The student will be prevented from making any changes to their current registration.
- The student will not be permitted to register for any upcoming semesters.
- Beginning when Bursar Holds are placed, a monthly late fee of $50 will be charged on unpaid balances.
To avoid having a Bursar Hold placed on the student's account, students may take the following steps:
- Complete all financial aid paperwork according to the filing deadlines. (Failure to complete required financial aid documents in a timely manner causes delays in the awarding of student aid and will result in a past-due balance and a Bursar Hold)
- Pay tuition and fees in full, in advance, if financial aid is not yet in place.
- Apply for loans (federal/private) before the payment due date.
- Arrange to have payment vouchers for Employer Tuition Deferment Plans on file in the Bursar's Office prior to the start of classes each term.
- Arrange for the Monthly Payment Plan with Transact (formerly CashNet) to sufficiently cover each semester's tuition and fee charges.
After an account is 60 days past due, account holders may expect to receive Molloy University reminder letters. In addition, a Late Fee, not exceeding $15 may be imposed on any outstanding balance 60 days and older.
An invoice that is 120 days past due may be turned over to a collection agency. This action will result in a collection fee of up to 25% of the outstanding balance. The collection fee will be added to the past-due balance owed to Molloy. Accounts turned over to a collection agency may affect the student's personal credit rating.
If the account placed in collections remains unpaid after one year and must be placed with a second collection agency, the fee may be up to 33 1/3%.
IMPORTANT: No student will be allowed to register for a new academic semester owing money from a previous semester.
Note: Summer courses must be paid by the publicized due date. Non-payment will result in deregistration.