The following is the text of Brown's
new policy on payment of student obligations.
See also news release 96-117.
Brown University
Payment of Student ObligationsBrown University requires payment of tuition and fees by August 1 for first semester obligations and by January 1 for second semester obligations. Students who fail to make payment in full by these deadlines will be assessed a late payment fine. The late payment fine for academic year 1997-98 is $150 for failure to meet the August 1 deadline and $150 for failure to meet the January 1 deadline. In addition, tuition and fees outstanding as of September 1 and February 1 will result in additional late charges being assessed at the rate of 1 1/2% per month (an annual rate of 18%). Outstanding balances greater than $1,000 will prevent any student from preregistering for any subsequent semester. Students will receive notification of such balances via the monthly student account statement and must make payment in full in order to preregister.
Financial Aid Awards
Approved financial aid awards, except for college work study amounts, reduce the amount of the required payment of tuition and fees. Therefore, students with approved financial aid awards, except for college work study, will not be assessed late fines and charges provided their balance due after these awards is remitted on time. No scholarships or subsidized loans can be used to pay late payment charges or interest charges.
Loans
Approved loans may be deducted from the tuition and fees due by August 1 and January 1 provided the loan approval documentation has been submitted to the Bursar's Office by the payment due dates. Loans approved after the payment due dates will not result in the waiver of the late fines and charges. Since the time to obtain a loan approval varies with the type of loan, students and parents are encouraged to apply for loans well before student account payment dates.
Outside Scholarships
Outside scholarships may be deducted from the tuition and fees due by August 1 and January 1 provided documentation of the scholarship has been submitted to the Bursar's Office by the payment due dates. If documentation is not provided by the due dates, late payment fines and charges will be assessed if full payment is not received by the due dates.
Installment Payment Plan (IPP)
Students participating in Brown's IPP will not be assessed late payment fines and charges provided that all installment payments are made on a timely basis.
Returned Checks
Any payment made, even if on a timely basis, that results in the check being returned for insufficient funds, lack of authorizing signature, etc., will result in the assessment of late payment fines and/or late charges as well as a $20 charge for a returned check.