Purpose
During the course of the semester or year, students may incur additional fees, fines, or assessments that must be paid in full at the time they are billed. When an account becomes delinquent, collection efforts are initiated.
Policy
All student accounts are required to be paid in full each semester by the due date and before any registration for subsequent semesters is allowed.
Procedures
When an account becomes delinquent, the following steps are taken in this order:
- An overdue notice is sent to you, and a hold is placed on your account. You are restricted from registering for the subsequent term, and release of transcript and diploma is restricted.
- A series of three-consecutive running letters is sent to your email or mailing address of record.
- Following failure to resolve the account balance, the account is referred to an outside collection agency.
Guidelines
Active Students
Registration occurs approximately mid-term for the following term. If you have a delinquent balance you will receive an email advising you that registration for the following term is conditional. The email reviews financial aid procedures and offers assistance to you if you need special arrangements. If the university does not receive payment in full or acceptable payment arrangements have not been made with the Student Accounting Office, you will be unable to register for the subsequent term.
Inactive Students
If you leave the university owing a balance and without making payment arrangements, you'll receive a letter approximately 30 days after the start of the first term when you are not registered. The letter will ask you to make immediate payment or payment arrangements.
If you had to take a leave from the university due to unforeseen circumstances and would like information on options for resolving an outstanding tuition account balance, in order to have financial holds lifted from your account for future registration, please email the Office of Student Accounting directly to discuss at sa@iit.edu
Collections
If you are an inactive student and you fail to make acceptable payment arrangements your account will be forwarded to an outside collection agency. Once an account is forwarded to an outside collection agency you will have to contact that agency for payment arrangements as this balance will be reported to the major credit bureaus.
Accounts that require further collection, including action taken by an attorney for collection efforts, will be subject to incur any and all fees associated with this action.
Holds
If your account has an unpaid balance you will have a hold placed on your account, preventing registration. Holds will prevent the release of official transcripts and diplomas as well as further registration until the balance is paid in full.
If you have a Student Accounting hold on your account, you can still obtain unofficial transcripts. Depending on your student type, please view this page to obtain a copy of your unofficial transcript.
Official transcripts for employment purposes can be released directly to your employer. Please email sa@iit.edu and attach a copy of your employers transcript request or official employment offer letter.
Balance Write Off
Uncollectible accounts are written off to allowance for uncollectible debt. The Student Accounting Office initiates such write-offs. Approval levels are as follows:
- Associate Director up to $5,000
- Director over $5,000 and up to $15,000
- Controller over $15,000
Write off of an account in no way forgives the debt to the university on behalf of the student. Rather, write-off is an administrative action taken to adhere to accounting policy. IIT maintains records of accounts written off and will reinstate collection activity if the former student requests transcripts or any other university services, or if new credit reports or other information become available.
Responsibilities
The Student Accounting Office is responsible for day-to-day collection efforts on student accounts. Executive administrators (president, provost, chief financial officer) are responsible for the enforcement of policy regarding allowing students with balances to register, receive transcripts, and receive diplomas.