University Of Massachusetts Amherst Student Financial Agreement

PAYMENT OF FEES/PROMISE TO PAY

I understand and agree that when I register for any class at the University of Massachusetts Amherst or receive any service from the University of Massachusetts Amherst, I agree to accept full responsibility to pay all tuition, fees and other associated costs assessed as a result of my registration and/or receipt of services. I further understand and agree that my registration and acceptance of these terms constitutes a promissory note agreement (i.e., a financial obligation in the form of an educational loan as defined by the U.S. Bankruptcy Code at 11 U.S.C. §523(a)(8)) in which the University of Massachusetts Amherst is providing me educational services, deferring some or all of my payment obligation for those services, and I promise to pay for all assessed tuition, fees and other associated costs by the published or assigned due date.)

FINANCIAL AID

I understand that aid described as “estimated” on my Financial Aid Award does not represent actual or guaranteed payment, but is an estimate of the aid I may receive if I meet all requirements stipulated by that aid program.

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 and agree that my 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 agree to allow financial aid I receive to pay any and all charges assessed to my account at the University of Massachusetts Amherst such as tuition, fees, campus housing and meal plans, student health insurance, parking permits, service fees, fines, bookstore charges, or any other amount, in accordance with the terms of the aid.

WITHDRAWAL/FAILURE TO WITHDRAW

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 at Refund Withdrawal Policy.

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.

DELINQUENT ACCOUNT/COLLECTION

Financial Hold: I understand and agree that if I fail to pay my student account bill or any monies due and owing the University of Massachusetts Amherst by the scheduled due date, the University of Massachusetts Amherst may place a financial hold on my student account, preventing me from registering for future classes, requesting transcripts, 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 the University of Massachusetts Amherst by the scheduled due date, the University of Massachusetts Amherst may assess late payment charges at the rate of 5% of the outstanding balance, with a minimum charge of $10, and a maximum charge of $100 per semester.

Collection Agency Fees:  I understand and agree that if I fail to pay my student account bill or any monies due and owing the University of Massachusetts Amherst by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, the University of Massachusetts Amherst may refer my delinquent account to a collection agency. I further understand that if the University of Massachusetts Amherst refers my student account balance to a third party for collections, a collection fee will be assessed and will increase the amount due..  The collection fee will be calculated at the maximum amount permitted by applicable law but not to exceed 33% of the amount outstanding.  For purposes of this provision, the third party may be a debt collection company or an attorney.  If a lawsuit is filed to recover an outstanding balance, I shall be responsible for any costs associated with the lawsuit such as court costs or other applicable costs.  Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus (Experian, Equifax or TransUnion).

COMMUNICATION

Method of Communication:  I understand and agree that the University of Massachusetts Amherst uses e-mail as an official method of communication with me, and that therefore I am responsible for reading the e-mails I receive from the University of Massachusetts Amherst on a timely basis.

Contact:  I authorize the University of Massachusetts Amherst 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 delinquent student account(s)/loan(s), any other debt I owe to the University of Massachusetts Amherst.

Updating Contact Information:  I understand and agree that I am responsible for keeping the University of Massachusetts Amherst records up to date with my current physical addresses, email addresses, and phone numbers.  Upon leaving the University of Massachusetts Amherst for any reason, it is my responsibility to provide the University of Massachusetts Amherst with updated contact information for purposes of continued communication regarding any amounts that remain due and owing to the University of Massachusetts Amherst.

METHOD OF BILLING

I understand that the University of Massachusetts Amherst conducts business electronically.  This includes but is not limited to receiving billing information through my online student account in QuikPay, which is accessible through SPIRE.  I am responsible for viewing and paying my student account by the scheduled due dates.

BILLING ERRORS

I understand that administrative, clerical or technical billing errors do not absolve me of my financial responsibility to pay the correct amount of tuition, fees and other associated financial obligations assessed as a result of my registration at the University of Massachusetts Amherst.

RETURNED PAYMENTS/FAILED PAYMENT AGREEMENTS

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 of $25.00. I understand that multiple returned payments and/or failure to comply with the terms of any payment plan or agreement I sign with the University of Massachusetts Amherst may result in a restriction on payments made by personal check or e-check.

IRS FORM 1098-T

I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to the University of Massachusetts Amherst 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 the University of Massachusetts Amherst, I agree to pay any and all IRS fines assessed as a result of my missing SSN/TIN.  Additionally, I consent to receive my annual IRS Form 1098-T, Tuition Statement, electronically from the University of Massachusetts Amherst.  I understand that I can withdraw this consent or request a paper copy by following the instructions on the Tax Information page.

ENTIRE AGREEMENT

This agreement supersedes all prior understandings, representations, negotiations and correspondence between the student and the University of Massachusetts Amherst, constitutes the entire agreement between the parties with respect to the matters described, and shall not be modified or affected by any course or dealing or course of performance. 

GOVERNING LAW/FORUM

I understand and agree that this Agreement is entered into in the Commonwealth of Massachusetts, and the laws of the Commonwealth, without giving effect to its conflicts of law principles, govern all matters arising out of or relating to this Agreement and all of the transactions it contemplates, including, without limitation, its validity, interpretation, construction, performance and enforcement.

The University of Massachusetts Amherst and I agree that any action arising out of or relating to this Agreement or the relationship between myself and the University shall be brought in the state courts of the Commonwealth of Massachusetts, which shall have exclusive jurisdiction thereof.  I expressly consent to the jurisdiction of the state courts of the Commonwealth of Massachusetts in any action brought by the Commonwealth or the University arising out of or relating to this Agreement or the relationship between myself and the University, waiving any claim or defense that such forum is not convenient or proper.  This paragraph shall not be construed to limit any other legal rights of myself or the University.