University of Louisiana at Monroe

ULM Financial Terms and Conditions

General provisions

  1. My student account reflects a balance I owe for educational services obtained from and the associated costs of attending University of Louisiana Monroe.
  2. The university is an institution of higher education. As such, all or a portion of my student account is considered to be an educational loan offered for the sole purpose of financing an education and is not dischargeable in bankruptcy proceedings.
  3. This agreement will be in effect until I have fulfilled all financial obligations to the university and the university has terminated this agreement.
  4. I authorize University of Louisiana Monroe and its agents, representatives, attorneys and contractors (including collection agencies) to contact me through my mobile phone, home phone and email, including by way of text and automated message calls, for purposes of collecting any portion of my student financial obligation which is past due.

Repayment

  1. I promise to pay the university the principal, and any late fees, fines or penalties by the due dates stated on my student account and in applicable university catalogs and/or websites.
  2. If payment is made by check and the check is returned, I agree that a fee of $30 for a returned check will be charged to my student account.
  3. If I expect financial aid to pay all or part of my financial obligations to the university, I understand that it is my responsibility to meet all requirements for disbursement to my student account. I authorize the university to use the financial aid to pay for all education costs charged to my student account for my entire period of enrollment or attendance at the university.
  4. I understand that it is my responsibility to ensure that all requirements of grantors, lenders, employers, and other third party payers are met on a timely basis.
  5. I understand that despite my expectations for payment from financial aid or other sources, that I am ultimately responsible for all charges incurred.
  6. I understand that my financial aid may be adjusted due to eligibility. I agree to pay back to the university any amounts that I am not eligible for under applicable financial aid guidelines.

Late fees

  1. If I fail to pay my student account, I understand the university will charge the following late fees.

Late Payment

Late fee

$50

Late Registration

Late fee

$100

Default

I will be in default if:

I break any promise made to the university or fail to perform promptly at the time and in the manner provided in my housing plan, meal plan, or tuition plan agreement with the university or fail to pay other charges, including but not limited to, parking fees or fines, Warhawk charges, or financial aid adjustments that post to my student account by the due date on the bill.

Rights of university under default

If there is an event of default, the university may exercise any remedy allowed by law, including one or more of the following, without notice or demand (except as required by law):

  1. The university may declare the principal balance plus any late fees, fines or penalties immediately due and payable in full.
  2. The university may hire or pay a third-party to collect the debt.

Collections

I will pay the university all costs of collection, including without limitations, reasonable attorney fees, whether or not there is a lawsuit. If not prohibited by applicable law, I will also pay any court costs, in addition to all other sums provided by law.

Withdrawal

I understand that I must abide by the official university policies regarding withdrawal from the university. Withdrawal from the university, whether voluntary or at the request of the university, does not exempt me from payment in full for charges incurred while attending the university.

Jurisdiction

For purposes of collection of amounts owed by me to the university, I consent to the jurisdiction of the courts of the state of Louisiana, Ouachita Parish.

Withhold diplomas, transcripts, grades

The university may withhold my official transcript, diploma, or grades until all my financial obligations have been met.

Prevent future registration

The university may prevent future registration until all my financial obligations have been met.

Credit bureau reporting

I understand that failure to pay my student account may result in the university filing an adverse report with credit bureaus.

Return of Title IV Funds Policy

This policy is applicable to all ULM students who receive Title IV aid and who resign (either "officially" through the Registrar's Office - OR - "unofficially" by no longer attending classes) from ULM before completing 60% of the semester.

Applicable to ALL ULM students

If the percentage of earned aid is greater than 60%, the student does not have to return Title IV Aid.

If you resign ("officially" or "unofficially"), you are responsible for returning the unearned portion of your financial aid package, including but not limited to Pell Grants and Direct Loans. If you do not return these unearned funds, you may not be eligible for future financial aid at this or other universities.

Amounts that must be returned to the Title IV Program must be returned in this order (both policies):


Resignation/Withdrawal Policy

Please be aware that if you drop all classes, your financial aid may be reviewed and a portion of your financial aid may have to be returned. It is your responsibility to attend and pass all classes for which you register.

Those students who fail to pass and/or attend all classes will also have their financial aid packages reviewed. All professors involved will be contacted to verify the last date of class attendance. It may become necessary to return all or a portion of the financial aid awarded if it is deemed that the student did not fulfill class requirements.

If you must resign from a class or from school, PLEASE follow the proper withdrawal/resignation procedure through the Registrar's Office.

After enrolling in classes, a student who wants to resign must:

OR