Financial Responsibility Agreement

Student Financial Responsibility Agreement

This is a legally binding contract.  Please review it carefully before electronically signing.

 

Payment Responsibility: I understand and agree that when I register for any class at the University of Virginia (the University) or receive any service from the University, I accept full responsibility to pay all tuition, fees, and other associated costs assessed as a result of my registration and/or receipt of services. Other costs may include program fees, school fees, University fees, and any other charges that appear on my Student Information System (SIS) account, such as charges referred from other University offices.  If I live on Grounds or sign up for a University meal plan, I further agree to pay all charges associated with my housing and/or dining.  If my program charges include items for meals and lodging associated with the program of study, I agree to pay all charges related to those items.

I further understand and agree that my registration and acceptance of these terms constitutes a contractual 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 Virginia is providing me educational services and 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. Additional information about payment responsibilities is available at https://sfs.virginia.edu/tuition-billing/overview-student-finances-uva.

Billing Method: I understand that the University uses electronic billing as its official billing method and will not send a paper bill to me or to anyone else who may make payments on my behalf.  I acknowledge that I am responsible for viewing and paying all student account charges by the posted due date.  I further understand and agree that failure to attend class or review my term statement does not absolve me of my financial responsibility as described above or constitute a valid reason for not paying my charges by the posted due date.

Billing Errors: I understand that administrative, clerical, or technical billing errors, while rare, 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.

Due Dates & Late Payment Fee: I promise to pay the University by the due dates stated on my student account and in applicable University catalogs and/or websites.  I acknowledge that failure to make payment by the due date may result in late fees of 1.5% of the past-due amount, in accordance with Va. Code § 2.2-4805 and Student Financial Services policies.

Class Drop/ University Withdrawal: I understand and agree that I must abide by University policies regarding withdrawal from the University.  I understand and agree that if I drop or withdraw from some or all of the classes for which I registered, I will be responsible for paying all or a portion of the tuition and associated fees in accordance with the published Tuition and Fee Adjustment Policy and applicable adjustment schedule at https://sfs.virginia.edu/withdrawal. I have read the terms and conditions of the published tuition and fee adjustment policy and understand those terms are incorporated herein by reference. I understand that withdrawal from the University, whether voluntary or at the request of the University, does not exempt me from payment in full for charges incurred while attending the University.

UVA has partnered with GradGuard™ to offer optional Tuition Insurance. For more information about Tuition Insurance, please go to https://sfs.virginia.edu/billing/tuitioninsurance.

Refunds: I understand that it is the policy of Student Financial Services not to retain funds due to me on my student account, and that I may receive refunds authorized by Student Financial Services.  In the event that adjustments to my student account after a refund has been sent to me result in me owing money back to the University, I promise to return that money to the University, and I acknowledge that I may incur a Student Finance hold until that money has been returned.  I understand that personal or sponsor payments in excess of $5,000 of the account balance will not be accepted, except as instructed by a sponsor and with prior approval from Student Financial Services. (Student Financial Services recommends that every student sign up for Direct Deposit to ensure timely and secure receipt of any refund. Details are at https://sfs.virginia.edu/tuition-billing/billing-payment/refunds.)

Financial Aid: I acknowledge and agree that I am ultimately responsible for payment of all charges, regardless of my expectations for payment from financial aid or other sources.   I understand that my financial aid may be adjusted after the initial award has been processed, based on required supplemental information or correction of erroneous data.  I agree to return to the University any amounts for which I am found ineligible under applicable financial aid guidelines.

If I expect financial aid to pay all or part of my financial obligations to the University, I understand and agree that it is my responsibility to satisfy all requirements for disbursement to my student account, including the completion of a master promissory note or loan entrance counseling.  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 that may have resulted in a credit balance that was refunded to me.

I understand that all awards, scholarships, grants, or other benefits awarded to me are considered financial resources according to federal Title IV financial aid regulations and institutional policies and may therefore reduce my eligibility for other federal and/or institutional financial aid (e.g., loans, grants, Federal Work Study) which, if already disbursed to my student account, must be reversed and returned to the aid source.

I understand and agree that I will access, accept, and decline my financial aid by means of electronic transactions through the Student Information System and that Student Financial Services will process financial aid accordingly based upon my elections made by electronic means.

By completing and submitting the CSS Profile to UVA and by agreeing to this financial responsibility agreement, I acknowledge that information in that application may be shared with other offices at the University for the sole purpose of providing me with access to additional support and resources. If at a later date I want to revoke this permission to share information, I must send an email to sfs@virginia.edu from my UVA email account or submit a signed statement to Student Financial Services.

Method of Communication: I understand and agree that the University uses my University of Virginia email as its official method of communication with me and that therefore I am responsible for reading all emails I receive from the University and for responding in a timely manner. I understand and agree that the University may also use other methods and contact information, such as mailing addresses and/or mobile phone numbers, to contact me.

I authorize the University and its agents and contractors to contact me at my current and any future cellular phone number(s), email address(es), or wireless devices(s) regarding any aspect of my student account, any other debt I owe the University, or to receive general information from the University.  I authorize the University and its agents and contractors to use automated telephone dialing equipment, artificial or prerecorded voice or text messages, and personal calls and emails in their efforts to contact me.  I understand that I may withdraw my consent to call or text my cellphone using automated telephone dialing equipment by submitting a clear revocation request to Student Financial Services or to the applicable contractor or agent contacting me on behalf of the University.

IRS Form 1098-T: I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to the University 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, 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 electronically from the University. I understand that I can withdraw this consent or request a paper copy by following the instructions at https://sfs.virginia.edu/tax/1098-t

Updating Current Contact Information: I understand and agree that I am responsible for keeping University records up to date with my current physical addresses, email addresses, and phone numbers by following the procedure at http://www.virginia.edu/registrar/accessacadrecord.html. The linked procedure is incorporated herein by reference. Upon leaving the University for any reason, it is my responsibility to provide updated contact information for purposes of continued communication regarding any amounts that remain due and owing to the University.

Compliance with University Policies:  I understand and agree that there are other University policies regarding financial aid and my student account as described in the University Record, and I understand and agree that I will abide by the policies found in the University Record at https://www2.virginia.edu/registrar/index.html and incorporated herein by reference.

Failure to Pay University Financial Obligations: I understand that enrolled students may be suspended from the University for past due financial obligations. Suspension includes dropping of courses and prevention from course enrollment for future terms. Current students will have their debts offset against any credit balances and other proceeds, such as loan checks. Current and former students will have a finance hold placed on their student account preventing them from adding classes or obtaining an academic transcript. I understand that past due obligations will be reported to the state for offset against state income tax refunds, state vendor payments, and lottery winnings, and may be reported to credit bureaus, referred to third party collection agencies or the State Attorney General, or litigated. Debtors may be assessed collection costs of up to fifty percent of their debt.

Collection Costs: I understand and accept that if I fail to pay my student account bill or any monies due and owing the University by the scheduled due date and fail to make acceptable payment arrangements to bring my account current, the University may refer my delinquent account to a collection agency. I further understand that if the University refers my student account balance to a third party for collection, whether an attorney or collection agency, I will be responsible for any costs (including but not limited to collection fees) associated with attempting to collect the monies due and owing. I understand that a collection fee will be assessed and will be due and owing in full at the time of the referral to the third party.

The collection fee will be calculated at the maximum amount permitted by applicable law but not to exceed 50% of the amount outstanding.  If a lawsuit is filed to recover an outstanding balance, I shall also be responsible for any costs associated with the lawsuit such as court costs, attorneys’ fees, or other applicable costs.  Finally, I understand that my delinquent account may be reported by a third-party collection agency to one or more of the national credit bureaus.

Additional information about Student Collections is available at: https://sfs.virginia.edu/tuition-billing/billing-payment/student-collections.

Returned Payments: I acknowledge that a $50.00 return check fee will be assessed to my student account for all eCheck (ACH) or paper checks processed as nonsufficient funds (NSF) or bad faith stop payment in accordance with Virginia law. For more information about returned payments see https://sfs.virginia.edu/tuition-billing/billing-payment/view-and-pay-your-bill

Finance Hold: I understand and agree that if I do not make payment for all charges on my student account, I may incur a Student Finance hold which will prevent me from adding classes to my schedule, obtaining an official transcript, or receiving my diploma, and I may be removed from my classes after the first week of the semester.  I understand and agree that a Student Finance hold may also prevent refunds due to me from being processed. More information regarding Student Finance Account Holds is available at https://sfs.virginia.edu/billing/holds.

Governing Law, Venue and Jurisdiction:  I agree that this agreement shall be governed by and construed in accordance with the internal laws of the Commonwealth of Virginia.  I further agree that any legal suit, action or proceeding arising out of or related to this agreement or the matters contemplated hereunder may be instituted in the Circuit Court of the County of Albemarle, Virginia, and agree to submit to the jurisdiction of such courts.

Entire Agreement:  This agreement supersedes all prior understandings, representations, negotiations and correspondence between me and the University and constitutes the entire agreement between the parties with respect to the matters described and shall not be modified or affected by any course of dealing or course of performance. This agreement may be modified by the University if the modification is signed by me. Any modification is specifically limited to those policies and/or terms addressed in the modification.

Severability:  If any portion of this agreement is found to be illegal, unenforceable, or ineffective, that portion shall be deemed severable, and all other provisions, terms, and clauses of this agreement will remain valid and binding.

I understand that I can access and print a copy of the Student Financial Responsibility Agreement at https://sfs.virginia.edu/financial-responsibility-agreement and that I can obtain a copy of this executed Agreement by writing to Student Financial Services at sfs@virginia.edu.

 

  • I have read the above Student Financial Responsibility Agreement and agree to all of its terms