Common use of Collection Agency Fees Clause in Contracts

Collection Agency Fees. I understand and agree that, if I fail to pay my student account bill or any other monies due and owing to the University by the scheduled due date and fail to make arrangements acceptable to the University to bring my account current, the University may refer my delinquent account to a collection agency. I further understand and agree that, in the event my delinquent account is referred 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 a collection agency fee will be deemed due and payable at the time the delinquent account is referred to such collection agency, and will be calculated at the maximum amount permitted by applicable law, but not to exceed 33% of the delinquent account (the “Collection Agency Fee”). I understand that any such Collection Agency Fee is not intended as a penalty, but rather constitutes liquidated damages based on a reasonable estimate of the costs the University will incur if my delinquent account is referred to a collection agency, and that the actual amount of the damages the University would suffer under such circumstances would be extremely difficult to ascertain. I also understand and agree that I will also be responsible for paying all other costs and expenses, including reasonable attorney’s fees, which the University incurs in connection with the collection of my account if the account becomes delinquent. Should any such Collection Agency Fees, any late payment charges, and/or other costs and expenses which the University adds to my student account pursuant to this Agreement be deemed excessive or unlawful under a final judicial interpretation of applicable law, then the same shall be deemed to have been assessed by mistake, shall automatically be canceled, and, if received by the University, shall be refunded to me by the University with interest. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus, which could negatively impact my personal credit scores.

Collection Agency Fees. I understand and agree that, accept that if I fail to pay my student account bill xxxx or any other monies due and owing to the Ohio Northern University by the scheduled due date date, and fail to make acceptable payment arrangements acceptable to the University to bring my account current, the Ohio Northern University may refer my delinquent account to a collection agency. I further understand and agree that, in the event that if Ohio Northern University refers my delinquent student account is referred 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 a collection agency fee will be deemed assessed and will be due and payable in full at the time of the delinquent account is referred referral to such the third party. The collection agency, and fee will be calculated at the maximum amount permitted by applicable law, but not to exceed 3340% of the delinquent amount outstanding. For purposes of this provision, the third party may be a debt collection company or an attorney. 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 or other applicable costs. Anticipated/Estimated Aid: I understand that aid described as “estimated” on my Financial Aid Award does not represent actual or guaranteed payment, but is an estimate of the aid I may receive if I meet all requirements stipulated by that aid program. Financial Aid Award: I agree to receive my financial aid award package electronically through Self-Service Banner each academic year. I understand that my Financial Aid Award is contingent upon my continued enrollment and attendance in each class upon which my financial aid eligibility was calculated. If I drop any class before completion, I understand that my financial aid eligibility may decrease and some or all of the financial aid awarded to me may be revoked. I further agree to repay all revoked aid that was disbursed to my account (and resulted in a credit balance that was refunded to me. Use of Aid to Cover Tuition and Other Fees: I agree to allow financial aid I receive to pay any and all charges assessed to my account at Ohio Northern University such as tuition, fees, campus housing and meal plans, student health insurance, parking permits, service fees, fines, bookstore charges, or any other amount, in accordance with the “Collection Agency Fee”)terms of the aid. I understand that any such Collection Agency Fee is not intended as a penaltyfederal Title IV financial aid that I receive, but rather constitutes liquidated damages based except for Federal Work Study wages, will first be applied to any outstanding balance on a reasonable estimate of my account for tuition, fees, room and board. Title IV financial aid includes aid from the costs the Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Direct Subsidized/Unsubsidized Loan, Direct PLUS Loan, and TEACH Grant programs. Prizes, Awards, Scholarships, Grants: I understand that all prizes, awards, scholarships, and grants awarded to me by Ohio Northern University will incur if be credited to my delinquent student account and applied toward any outstanding balance. I further understand that my receipt of a prize, award, scholarship, or grant is referred considered a financial resource according to a collection agencyfederal Title IV financial aid regulations, and that may therefore reduce my eligibility for other federal and/or state financial aid (i.e., loans, grants, Federal Work Study) which, if already disbursed to my student account, must be reversed and returned to the actual amount aid source. Method of the damages the University would suffer under such circumstances would be extremely difficult to ascertain. Communication: I also understand and agree that Ohio Northern University uses e-mail as an official method of communication with me, and that therefore I will also be am responsible for paying all other costs and expenses, including reasonable attorney’s fees, which reading the e- mails I receive from Ohio Northern University incurs in connection with the collection of my account if the account becomes delinquent. Should any such Collection Agency Fees, any late payment charges, and/or other costs and expenses which the University adds to my student account pursuant to this Agreement be deemed excessive or unlawful under on a final judicial interpretation of applicable law, then the same shall be deemed to have been assessed by mistake, shall automatically be canceled, and, if received by the University, shall be refunded to me by the University with interest. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus, which could negatively impact my personal credit scorestimely basis.

Collection Agency Fees. I understand and agree that, accept that if I fail to pay my student account bill xxxx or any other monies due and owing to the Ohio Northern University by the scheduled due date date, and fail to make acceptable payment arrangements acceptable to the University to bring my account current, the Ohio Northern University may refer my delinquent account to a collection agency. I further understand and agree that, in the event that if Ohio Northern University refers my delinquent student account is referred 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 a collection agency fee will be deemed assessed and will be due and payable in full at the time of the delinquent account is referred referral to such the third party. The collection agency, and fee will be calculated at the maximum amount permitted by applicable law, but not to exceed 3340% of the delinquent account (amount outstanding. For purposes of this provision, the “Collection Agency Fee”)third party may be a debt collection company or an attorney. If a lawsuit is filed to recover an outstanding balance, I understand that any such Collection Agency Fee is not intended as a penalty, but rather constitutes liquidated damages based on a reasonable estimate of the costs the University will incur if my delinquent account is referred to a collection agency, and that the actual amount of the damages the University would suffer under such circumstances would be extremely difficult to ascertain. I also understand and agree that I will shall also be responsible for paying all other any costs and expenses, including reasonable attorney’s fees, which the University incurs in connection associated with the collection of my account if the account becomes delinquent. Should any lawsuit such Collection Agency Fees, any late payment charges, and/or as court costs or other costs and expenses which the University adds to my student account pursuant to this Agreement be deemed excessive or unlawful under a final judicial interpretation of applicable law, then the same shall be deemed to have been assessed by mistake, shall automatically be canceled, and, if received by the University, shall be refunded to me by the University with interestcosts. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus. Anticipated/Estimated Aid: I understand that aid described as “estimated” on my Financial Aid Award does not represent actual or guaranteed payment, but is an estimate of the aid I may receive if I meet all requirements stipulated by that aid program. Financial Aid Award: I agree to receive my financial aid award package electronically through Self-Service Banner each academic year. I understand that my Financial Aid Award is contingent upon my continued enrollment and attendance in each class upon which could negatively impact my personal financial aid eligibility was calculated. If I drop any class before completion, I understand that my financial aid eligibility may decrease and some or all of the financial aid awarded to me may be revoked. I further agree to repay all revoked aid that was disbursed to my account and resulted in a credit scoresbalance that was refunded to me. Use of Aid to Cover Tuition and Other Fees: I agree to allow financial aid I receive to pay any and all charges assessed to my account at Ohio Northern University such as tuition, fees, campus housing and meal plans, student health insurance, parking permits, service fees, fines, bookstore Prizes, Awards, Scholarships, Grants: I understand that all prizes, awards, scholarships, and grants awarded to me by Ohio Northern University will be credited to my student account and applied toward any outstanding balance. I further understand that my receipt of a prize, award, scholarship, or grant is considered a financial resource according to federal Title IV financial aid regulations, and may therefore reduce my eligibility for other federal and/or state financial aid (i.e., loans, grants, Federal Work Study) which, if already disbursed to my student account, must be reversed and returned to the aid source. Method of Communication: I understand and agree that Ohio Northern University uses e-mail as an official method of communication with me, and that therefore I am responsible for reading the e- mails I receive from Ohio Northern University on a timely basis.

Collection Agency Fees. I understand and agree that, accept that if I fail to pay my student account bill xxxx or any other monies due and owing to the Ohio Northern University by the scheduled due date date, and fail to make acceptable payment arrangements acceptable to the University to bring my account current, the Ohio Northern University may refer my delinquent account to a collection agency. I further understand and agree that, in the event my delinquent account is referred to a third party for collection, whether an attorney or collection agency, that I will be am responsible for any costs (including but not limited to collection fees) associated with attempting to collect paying the monies due and owing. I understand a collection agency fee will fees which may be deemed due and payable at the time the delinquent account is referred to such collection agency, and will be calculated at the maximum amount permitted by applicable law, but not to exceed 33% of the delinquent account (the “Collection Agency Fee”). I understand that any such Collection Agency Fee is not intended as a penalty, but rather constitutes liquidated damages based on a reasonable estimate percentage at a maximum of the costs the University will incur if 40% of my delinquent account is referred to a collection agencyaccount, and that the actual amount of the damages the University would suffer under such circumstances would be extremely difficult to ascertain. I also understand and agree that I will also be responsible for paying together with all other costs and expenses, including reasonable attorney’s fees, which the University incurs in connection with necessary for the collection of my account if the account becomes delinquent. Should any such Collection Agency Fees, any late payment charges, and/or other costs and expenses which the University adds to my student account pursuant to this Agreement be deemed excessive or unlawful under a final judicial interpretation of applicable law, then the same shall be deemed to have been assessed by mistake, shall automatically be canceled, and, if received by the University, shall be refunded to me by the University with interestdelinquent account. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus. Anticipated/Estimated Aid: I understand that aid described as “estimated” on my Financial Aid Award does not represent actual or guaranteed payment, but is an estimate of the aid I may receive if I meet all requirements stipulated by that aid program. Financial Aid Award: I agree to receive my financial aid award package electronically through Self-Service Banner each academic year. I understand that my Financial Aid Award is contingent upon my continued enrollment and attendance in each class upon which could negatively impact my personal financial aid eligibility was calculated. If I drop any class before completion, I understand that my financial aid eligibility may decrease and some or all of the financial aid awarded to me may be revoked. I further agree to repay all revoked aid that was disbursed to my account and resulted in a credit scoresbalance that was refunded to me. Use of Aid to Cover Tuition and Other Fees: I agree to allow financial aid I receive to pay any and all charges assessed to my account at Ohio Northern University such as tuition, fees, campus housing and meal plans, student health insurance, parking permits, service fees, fines, bookstore charges, or any other amount, in accordance with the terms of the aid. I understand that any federal Title IV financial aid that I receive, except for Federal Work Study wages, will first be applied to any outstanding balance on my account for tuition, fees, room and board. Title IV financial aid Prizes, Awards, Scholarships, Grants: I understand that all prizes, awards, scholarships, and grants awarded to me by Ohio Northern University will be credited to my student account and applied toward any outstanding balance. I further understand that my receipt of a prize, award, scholarship, or grant is considered a financial resource according to federal Title IV financial aid regulations, and may therefore reduce my eligibility for other federal and/or state financial aid (i.e., loans, grants, Federal Work Study) which, if already disbursed to my student account, must be reversed and returned to the aid source. Method of Communication: I understand and agree that Ohio Northern University uses e-mail as an official method of communication with me, and that therefore I am responsible for reading the e- mails I receive from Ohio Northern University on a timely basis.