Registered student is defined as one who has (A) selected courses and been billed for these courses; and (B) satisfied tuition and fee obligations for the term as due.
Satisfied refers to a student’s meeting tuition and fee obligations to the University in a manner sufficient to maintain course registration, which may occur by any of the following: (A) payment by cash, check or credit card, (B) approved financial aid, deferrals; waivers, scholarships or third party receivables, or (C) any combination of (A) and (B). A student account may lose its status as being “satisfied” and may be declared delinquent due to failure of any receivable or future payment to be remitted to the University, or due to a change in the status of the student such that the student no longer qualifies for a previously granted deferral, waiver, or the like.
Liability refers to the amount of tuition or fees, which the student has not paid in full at the time of registration. All student receivables, third party receivables, and financial aid receivables are liabilities.
Student Receivables are monies owed for educational related University services. These receivables are considered to be valid as due and payable when established on the student’s account. Any disagreement by the student as to the validity of the student receivables must be made within 30 days of the charge. Receivables include tuition, fees and housing for approved students for the current fiscal year and is semester specific.
Third Party Receivables are funds expected to pay student educational expenses sometime in the future from a third party provider (other than governmental or private entities remitting financial aid monies as part of the college’s formal financial aid process, which is covered below in Financial Aid Receivables). Third party providers typically include, without limitation, governmental agencies such as the US Department of Defense, student employers, or Job Training and Placement Act service providers. Collection of third party receivables occurs during the semester the charges are incurred or the immediately following semester.
Financial Aid Receivables are funds expected to pay student educational expenses sometime in the future as part of the college’s formal financial aid process. These are estimates, which may change based upon enrollment and other factors and are various types of funds (e.g. loans, grants, scholarships) from various sources (e.g. federal, state, city, or college). Financial Aid Receivables include, without limitation, Pell Grants, State Scholarships, Grants, Fellowships, and NYS Tuition Assistance (TAP) awards.
Delinquency is a condition in which the student has not met all applicable financial and documentary obligations as in this Manual. An account is delinquent when payment or documentation is not received by the due date. Some examples are: non-payment of tuition, not completing required exit forms, etc.
Default is a condition in which no payment has been received within six (6) months of the due date. At this point, the account is generally placed with a professional collection and litigation service.
“Form A Reporting” is the census date for confirmed enrollment at CUNY.
Deferral is a temporary postponement of all or part of a student’s payment obligation beyond the date when full payment would otherwise be required. Campus procedures shall ensure the timely receipt of payments of any receivables on which deferrals are based. For students who have deferred outstanding charges, the deferral period should be for the shortest time period possible. Deferrals are categorized as either obligatory or discretionary on the part of the campus. A description of each follows in Section C.