Because surpluses from grants and loans are not available at the beginning of the semester, excess financial aid may not be used to purchase books on credit. The late fee is charged when students do not complete financial arrangements by the stated due date. It is not charged because financial aid has not been credited to the account. A night deposit is available outside Room 119 in the Administration Building for making payments when the Controller's Office is closed. Federal regulations require that first-time borrowers attend an entrance interview prior to receiving credit for loan proceeds.
Borrowers have the right to cancel their loans.
Cancellation requests must be in writing and received by the Controller's Office either before the payment period or within 14 days of receiving notification that the loan proceeds were disbursed to the college. Federal regulations limit PLUS loan amounts to a student's cost of attendance less other financial aid. Therefore, the college accepts only bank approved and college certified PLUS loan applications. If paying in person, bring both copies of the statement of account, the financial aid award letter, a copy of the loan application, and payment for the remaining balance. Estimated financial aid from the financial aid award letter should be deducted from the balance to determine the amount owed, if any.