The Financial Responsibility Statement outlines the terms and conditions of the financial responsibilities and obligations associated with attending The Ohio State University.
Because certain eligibility is required and must be maintained in order to have the cost of attending Ohio State covered by other means, students who have their cost of attendance paid by graduate fee authorizations, appointments, sponsorship, scholarships, or other third-parties are ultimately financially responsible for these costs.
Prior to registering for a term, all students must agree to the Financial Responsibility Statement each term for which they are enrolled. Students who do not complete the Financial Responsibility Statement prior to registering each term will have a Registration Lock Hold placed on their account, preventing them from registering, adding courses, or moving off a wait-list. Once the statement is completed for the term, the hold will release from the account.
Financial Responsibility Term and Conditions
Note: The Financial Responsibility Terms and Conditions are subjected to change, at the discretion of The Ohio State University.
- My student account reflects a balance I owe for educational services obtained from The Ohio State University.
- All parties agree The Ohio State University may renew or extend (repeatedly and for any extent of time) this agreement.
- If I fail to pay my student account, I understand The Ohio State University has the right to charge a finance charge.
- If I decline to provide information for the direct deposit of any refund to which I may be entitled, I understand that I may be subject to returned check fee(s) if the check is undeliverable or remains uncashed for more than 90 days.
- I promise to pay The Ohio State University the principal, finance charges and any late charges which accrue from this agreement.
- If payment is made by check and the check is returned, I expressly authorize The Ohio State University or its agent to electronically debit the account or generate a paper draft/substitute check against the account for the face value of the returned check and the maximum allowable state fee. The use of a check as payment is my acknowledgement and acceptance of this policy and terms.
- If I expect financial aid to relieve all or part of this obligation, I understand it is my responsibility to meet all requirements for disbursement to my student account. I authorize The Ohio State University to apply any federal, state, and institutional financial aid to all charges assessed to my student account up to and including $200 from any prior academic year.
- If my charges are paid by a third party I will be held responsible for payment if the third party defaults, the contract is terminated, or for any other reason the third party payment is not honored on my account. I understand that if my financial aid is reduced or cancelled, I will be responsible to pay back to the university any amounts that I am not eligible for under applicable financial aid guidelines.
- If I withdraw from The Ohio State University, I understand I am still responsible for paying any remaining balance on my student account in accordance with withdrawal policies of The Ohio State University and Federal Financial Aid requirements.
I will be in default if any of the following happens:
- If I fail to make any payment when due as specified by the University.
- If I break any promise made to the University or fail to perform promptly at the time and in the manner provided in my agreement with the University.
Rights of The Ohio State University Under Default
If there is an event of default, the University may be entitled to exercise one or more of the following remedies without notice or demand (except as required by law):
- The University may declare the principal balance plus finance charges and late fees immediately due and payable in full.
- The University may hire or pay a third-party to collect the debt. I will pay the University all costs of collection, including, without limitation, reasonable attorney’s fees, whether or not there is a lawsuit. If not prohibited by applicable law, I will also pay any court costs, in addition to all other sums provided by law.
- For purposes of collection of this debt, I consent to the jurisdiction of the courts of the State of Ohio
Withhold Transcripts, Diploma, Grades
- The University may withhold my official transcript, diploma or grades until all my financial obligations have been met.
Prevent Future Registration
- The University may prevent future registration until all my financial obligations have been met.
Credit Bureau Reporting
- I understand that failure to pay my student account may result in the University filing an unfavorable report with credit bureaus
As of June 2, 2015; subject to change
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