Statement of Financial Responsibility

Financial Hold: I understand and agree that if I fail to pay my student account bill or any monies due and owing MSU by the scheduled due date, MSU will place a financial hold on my student account, which may prevent me from making schedule changes, enrolling for future classes, or receiving my diploma.

Late Payment Charge: I understand and agree that if I fail to pay my student account bill or any monies due and owing MSU by the scheduled due date, MSU will assess late payment and/or finance charges in accordance with set rates detailed on the Student Accounts web site until my past due account is paid in full.

Collections: I understand and accept that if I fail to pay my student account bill or any monies due and owing MSU by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, my delinquent account may be reported to one or more of the national credit bureaus. I further understand that MSU may refer my delinquent account to a collection agency. I understand that I may be held responsible for paying reasonable collection agency and attorney’s fees, together with any other associated costs and expenses necessary for the collection of my delinquent account.

If a payment made to my student account is returned by the bank for any reason, I agree to repay the original amount of the payment plus a returned payment fee. I understand that multiple returned payments and/or failure to comply with the terms of any payment plan or agreement I sign with at MSU may result in cancellation of my classes and/or suspension of my eligibility to register for future classes at MSU.

I understand that my financial aid award is contingent upon my continued enrollment and attendance in each class upon which my financial aid eligibility was calculated. If I drop any class before completion, I understand that any financial aid eligibility may decrease and some or all of the financial aid awarded to me may be revoked.

If some or all of my financial aid is revoked because I dropped or failed to attend class, I agree to repay all revoked aid that was disbursed to my account and resulted in a credit balance that was refunded to me.

I understand that consent allows me to access my financial aid data in MSU web applications, to accept or decline loans and to do other financial aid business online. I have the right to receive my financial aid award notice (a list of the aid offered) and my loan promissory note(s) in printed format by contacting the Office of Financial Aid.

With consent to do business electronically, I understand that notice of awards and changes in awards will be received by email and web, loan amounts can be accepted, declined, or reduced online, loan promissory notes can be completed online, and requests for additional information needed by the Office of Financial Aid will be sent through email.

Consent to do business electronically for Financial Aid can be declined by contacting the Office of Financial Aid, but I realize that in doing so, processing of my aid will be delayed due to time needed to print and mail paper documents. In addition, if my address is not kept current with MSU, or if I have recently moved off campus, some documents may not reach me , or may be delayed by mail delivery. Paper documents requiring an original signature must be mailed, they may not be faxed.

I understand that any federal Title IV financial aid that I receive, except for Federal Work Study wages, will first be applied to any outstanding balance on my account for the same semesters’ tuition, fees, food, and housing. Title IV financial aid includes aid from a federal loan, Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Direct Loan, PLUS Loan and TEACH Grant programs. I authorize MSU to apply my Title IV financial aid to other charges assessed to my student account such as printing services, ID replacement charges, fitness passes, books and supplies, service fees and fines, and any other education related charges and authorize MSU to apply Title IV aid to prior year charges other than for tuition, fees, room and board not to exceed the amount allowed by federal regulation.* I further understand that this authorization will remain in effect until I rescind it and that I may withdraw it at any time by following the instructions on the Student Accounts web page.

I understand that all prizes, awards, scholarships, and grants awarded to me by MSU will be credited to my student account and applied toward any outstanding balance. I further understand that my receipt of a prize, award, scholarship, or grant is considered a financial resource according to federal Title IV financial aid regulations, and may therefore reduce my eligibility for other federal, state and/or institutional financial aid (i.e., loans, grants, Federal Work Study) which, if already disbursed to my student account, must be reversed and returned to the aid source.

I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to MSU upon request as required by Internal Revenue Service (IRS) regulations for Form 1098-T reporting purposes. If I fail to provide my SSN or TIN to MSU, I agree to pay any and all IRS fines assessed as a result of my missing SSN/TIN.

I consent to receive my annual IRS Form 1098-T, Tuition Statement, electronically from MSU. I understand that I may request a paper copy by contacting the Student Accounts Office at Student.Receivables@ctlr.msu.edu.

I understand and agree that MSU uses email as an official method of communication with me, and that therefore I am responsible for reading the emails I receive from MSU on a timely basis. Further, I understand and agree that I am responsible for keeping MSU records up to date with my current physical addresses, email addresses, and phone numbers. Upon leaving MSU for any reason, it is my responsibility to provide MSU with updated contact information for purposes of continued communication regarding any amounts that remain due and owing to MSU. Finally, I authorize MSU and its agents and contractors to contact me at my current and any future cellular phone number(s), email address(es) or wireless device(s) regarding my student account(s)/loan(s), any other debt I owe to MSU or to receive general information from MSU. These contacts may be made by automated telephone dialing systems, emails, text messages or personal calls regarding my obligation to repay any debt I owe the University. I understand that I may withdraw my consent to call my cellular phone using automated telephone dialing equipment by submitting my request in writing to the Student Accounts Office or in writing to the applicable contractor or agent contacting me on behalf of MSU.

I understand and agree that if I am younger than the applicable age of majority when I execute this agreement that the educational services provided by MSU are a necessity, and I am contractually obligated pursuant to the terms of this agreement.