Regulation Number: 3.042

Write-Off of Uncollectible Accounts; Settlement of Delinquent Accounts

Category: Finance

Responsible Office: Senior Vice President and Chief Financial Officer



3.042 Write-off of Uncollectible Accounts; Settlement of Delinquent Accounts.

(1)     The University shall use due diligence and exert every effort in the collection of all accounts.

(2)    The President or his/her designee may write-off or settle any uncollectible accounts owed the University. All or a portion of late charges and/or collection costs may at the discretion of the President or his/her designee be waived on institutional student loans if the borrower makes a lump sum payment of the entire amount of outstanding principal and interest to settle an account.

(3)     The University shall employ the services of a collection agency when deemed advisable in collecting delinquent accounts.

(4)      The University may set minimum amounts for which debts will be billed and for which financial holds will be placed on records.

Authority: BOG Regulation 1.001.

History: New 3-26-80, Formerly 6C1-3.42, Amended 5-18-92, 6-28-98. Formerly 6C1- 3.042, Amended 3-23-18 (technical changes only).