PAYMENT OF STUDENT ACCOUNT

PAYMENT OF STUDENT ACCOUNT

PAYMENT/OFFICIAL REGISTRATION

The Boston University Student Accounting Services (SAS) publishes deadlines by which students must “officially register.” Official registration occurs when a student’s account is paid in full. Payment may be by cash or check but may also include documentation of your financial assistance, approval for an educational loan, or sponsorship from an outside agency.

In order to retain a place in the School of Dental Medicine, a first-year student will be required to officially register by July 1. Official registration dates for continuing students are published well ahead of time and information is available through SAS (617) 353-2264, the BUSDM Registrar (617) 638-4708, or the Office of Student Financial Services (OSFS). Students experiencing difficulty in paying their accounts should meet with a financial aid officer in OSFS and/or with a Customer Service Representative in SAS. Students who do not pay or receive approval for an extension by the deadline will be assessed a late payment fee and will be subject to administrative withdrawal.

Further information about official registration can be found in The Guide. Produced by SAS, it is included with your first billing statement each year. Students should keep The Guide for future reference.

Applying for institutional assistance does not absolve you of the responsibility of paying on time. If you have not received your institutional award letter or are appealing it, you should apply for additional outside loans. The outside loans will be reduced if you receive sufficient institutional funding.

LATE PAYMENT OF STUDENT ACCOUNTS

The following actions may be taken for failing to complete settlement by the deadline established each semester:

You will be charged a fee at the time of late settlement.
You will not be allowed to attend succeeding courses/clerkships for the semester.
You will not be issued transcripts or verification of enrollment.
You will forfeit all other student financial services.
You may be denied access to University facilities such as libraries.
If you are a fourth-year student, you will not receive your diploma at graduation.
Your lenders will be notified that your are not officially registered, causing your loans to go into repayment.

LEGAL CONSEQUENCES OF UNPAID STUDENT ACCOUNTS

Boston University policy requires the withholding of all credit, educational services, issuance of transcripts, and certification of academic records from any person whose financial obligations to the University are due and unpaid. If any overdue obligation is referred either to the University Collection Department or to an outside agency or attorney for collection efforts and/or legal suit, the debt is increased to cover all reasonable costs of collection, including collection agency and attorney fees and court costs. Further, all delinquent balances may be subject to a late payment penalty equal to 1.5% of the outstanding balance per month. By registering for any class at the University, each student accepts and agrees to be bound by the foregoing University policy as applied to any preexisting or future obligation to the University.

BUSDM STUDENT SERVICES

In addition to awarding institutional funds, certifying loan applications, and providing debt management counseling, OSFS documents a student’s financial need to outside loan and scholarship programs; conducts Entrance and Exit Counseling sessions; and makes provisions for eligible students to receive funds for living expenses.

A student may request a Check Advance Voucher at OSFS for as much as $700 which must be taken to SAS at 881 Commonwealth Avenue to be redeemed. The Voucher is charged back to the student’s account to be repaid when loan disbursements credit to the student’s account. Students are limited to two check advances per semester.

A student who needs more money to cover an emergency must document the emergency and submit a Loan Advance (LA) to OSFS. The interest-free, short-term loan is charged back to the student’s account. It takes about three to five business days for an LA check to be issued.

Check and Loan Advances are approved only against certified Federal Direct Loans or other lender-approved loans. The student must have sufficient funds being disbursed to repay the Check or Loan Advance.

A student who has a credit remaining on their account after all loan checks have been signed and posted should submit a Credit Release Voucher (CRV) to OSFS. After approval by OSFS, the CRV will be processed by SAS and the student will receive a check 11 to 15 business days later. CRVs submitted at 881 Commonwealth Avenue will be rerouted to OSFS for approval, thereby delaying the process several days.

The BUSDM Registrar signs all deferment forms. Often a deferment form must be submitted each year and for each outstanding loan. The Registrar waives required University health insurance charges, makes most adjustments for changes in registration status and tuition charges, or makes changes to official graduation dates and student addresses.

Loan checks are signed with the BUSM Financial Affairs Office. A Financial Affairs representative is available at OSFS on Tuesdays-Thursdays from 11:30 a.m. to 1:30 p.m. Otherwise, if those times are not convenient, students may call Mr. Dan Low at 617-638-4598 to arrange for an appointment. If a student is unable to endorse checks at the University, arrangements should be made with the Financial Affairs Office to have checks mailed to the student.