Financial Obligations

Students must meet all financial obligations to the College by established deadlines. A student who fails to satisfy accounts by due dates, will be assessed a late fee (equal to 5 percent of unpaid balance). Students who do not meet financial obligations will be ineligible for any service from the College, including instruction, scheduling, diplomas, and future participation in the College's Deferred Payment Plan. Available balances in other campus accounts, such as Meal Plans and security deposits, may also be used to meet financial obligations to the College. Delinquent accounts may be turned over to a collection agency at the end of the semester. Termination or withdrawal from Penn College or nullification or adjustment of financial aid awards will not alter the student's financial obligations to the College.

Qualified students may participate in the Penn College Deferred Payment Plan. The Plan requires an enrollment fee of $30 plus a minimum down payment of 20 percent of the student's balance for tuition, housing, and related fees. The student's remaining balance must be paid in four equal installments within the first twelve weeks of the semester. A student may enroll in the Deferred Payment Plan at the time of registration, when the student's course load and fees are known. Optional charges included on the tuition bill for meal plans and parking permits must be fully paid at the time of registration and cannot be included in this plan. Summer Payment Plans are limited to 3 payments in 3 equal installments.

The College shall not knowingly accept a partial payment from any student except as required for tuition deposits, financial aid plans, or within the guidelines established by College policy for the Deferred Payment Plan.

Payment must be received in the Bursar’s Office/Student Accounts by the due date, not just mailed or postmarked.

A $50 late fee will be charged to the student’s account if the payment is received after the due date.

Penn College accepts cash, checks, money orders, eCheck (electronic withdrawal from checking or savings account), and credit cards (Visa, MasterCard, Discover, and American Express) for payments of tuition and fees.

Students who are now enrolled at the College but do not attend classes are financially responsible for all tuition and fees if they do not formally withdraw prior to the semester deadlines. If, for any reason, a student finds it necessary to reduce the net credit load through termination OR dropping credits, tuition and related fees charges will be assessed according to the following schedule:

If a portion of your tuition and fees will be paid by your employer or another agency, written authorization must be forwarded by the employer/agency to the Bursar’s Office to create the appropriate credit to your account.