Common use of Late Fees and Interest Clause in Contracts

Late Fees and Interest. Financial Holds. All accounts not paid in full by the first day of each semester are subject to a late payment fee of $100.00. In addition, Regent University retains the right to charge interest on all unpaid balances at the rate of one and one-half percent per month, or if less, then the maximum legal rate, computed from the date of demand, until the Obligations are paid in full. I understand and agree that if I fail to pay my student account bill or any monies due and owing to Regent by the scheduled due date, Regent will place a financial hold on my student account, preventing me from registering for future classes, receiving transcripts, or receiving my diploma. I further agree to pay all costs, expenses, collection agency fees, and attorney fees related to the collection of the Obligation, to the fullest extent permitted by law, whether such fees are a fixed amount or are based on a percentage of the debt or the amount collected. I understand and agree that if I drop or withdraw from some or all of the classes for which I register, I will be responsible for paying all or a portion of tuition and fees in accordance with the published tuition refund schedule on Regent’s website. I have read the terms and conditions of the published tuition refund schedule and understand those terms are incorporated herein by reference. I further understand that my failure to attend class or receive a bill does not absolve me of my financial responsibility as described above.

Late Fees and Interest. Financial Holds. All accounts not paid in full by the first day of each semester due date are subject to a late payment fee of $100.00. In addition, Regent University retains the right to charge interest on all unpaid balances at the rate of one and one-half percent per month, or if less, then the maximum legal rate, computed from the date of demand, until the Obligations are paid in full. I understand and agree that if I fail to pay my student account bill or any monies due and owing to Regent by the scheduled due date, Regent will place a financial hold on my student account, preventing me from registering for future classes, receiving transcripts, or receiving my diploma. I further agree to pay all costs, expenses, collection agency fees, and attorney fees related to the collection of the Obligation, to the fullest extent permitted by law, whether such fees are a fixed amount or are based on a percentage of the debt or the amount collected. I understand and agree that if I drop or withdraw from some or all of the classes for which I register, I will be responsible for paying all or a portion of tuition and fees in accordance with the published tuition refund schedule on Regent’s website. I have read the terms and conditions of the published tuition refund schedule and understand those terms are incorporated herein by reference. I further understand that my failure to attend class or receive a bill does not absolve me of my financial responsibility as described above.