A Non-University loan will cover the balance due but I applied for it after June 15 or have not yet applied for it. How will late fees by applied?

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A Non-University loan will cover the balance due but I applied for it after June 15 or have not yet applied for it. How will late fees by applied?

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A late charge of 1 % of the unpaid balance, 30 days or older, will be accessed monthly until the account is cleared. Borrowers should refer to their loan disclosure papers for the check disbursement dates. The checks usually arrive in the Business Office seven to ten days following that date. It is the borrower’s responsibility to endorse and have the loan check applied to the student’s account. As a courtesy to our students, the Business Office tries to send out a notification within 24 hours upon receiving the loan check(s) from the Financial Aid Office. The notification is sent to the student’s e-mail address and will require the student to come to the Business Office to endorse the check by a specified date. The student must sign the check by that date according to federal regulations and to avoid a late charge.

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