2. Installment Plans
B.2.01 - Installment Payment Options:
The Board shall provide for payment of tuition and fees during the fall and spring semesters according to one of the following alternatives:
a. full payment of tuition and fees in advance of the beginning of the semester; or
b. payment in installments under one or more payment plan options that require the first payment to be made in advance of the beginning of the semester and the final payment to be made before the last day of the semester.
For a summer session the Board shall provide for the payment of tuition and fees through one of the following alternatives:
a. payment of tuition and fees in advance of the beginning of the summer term;
b. payment in installments under one or more payment plan options that require the first payment to be made in advance of the beginning of the summer term and the final payment to be made before the last day of the term; or
c. one-half payment of tuition and fees in advance of the beginning of the summer term and the remaining amount in one or two later payments to be made in the percentages and by the dates determined by LSCS, provided that the final payment must be made before the beginning of the last week of the summer term.
B.2.02 - Execution of Installment Documents:
On-line enrollment for an installment payment plan is required. LSCS requires each student who elects to pay tuition and fees by installment to execute electronic documentation reflecting the terms and conditions of this privilege. Said documentation shall incorporate a written agreement outlining the terms of the arrangement, a promissory note securing the debt, and an assignment by the student of any financial aid award to the extent of coverage of the tuition and fee obligation.
B.2.03 - Notice Regarding Failure to Pay All Tuition and Fees:
The following statement in bold-faced type or in capital letters shall be included in any promissory note signed by a student:
"A student who fails to make full payment of tuition and fees, including any incidental fees, by the due date may be prohibited from registering for classes until full payment is made. A student who fails to make full payment prior to the end of the semester or session may be denied credit for the work done that semester or session."
B.2.04 - Procedure for Applying Financial Aid Award:
Upon receipt of a student's satisfactorily completed electronic installment payment plan, LSCS shall apply that student's awarded financial aid toward the amount of tuition and fees due for that semester or summer session until the tuition and fees are paid in full. LSCS shall immediately release any remaining amount of the award to the student.
B.2.05 - Due Dates Postponed with Assignment of Financial Aid Award:
LSCS may postpone the due date for the payment of all or part of the tuition and fees for a student for a semester or summer session in which the student will receive one or more delayed financial aid awards if:
a. the student has not received the awards by the regular due date for payment of tuition and fees; and
b. the student agrees to assign to LSCS a portion of the awards equal to the amount of tuition and fees for which the due date is postponed.
B.2.06 - Enrollment Adjustment:
LSCS will notify a student of any delinquent tuition or fees as soon as practicable. LSCS's records may be adjusted to reflect the student's payment failure to have properly enrolled for that semester.
B.2.07 - Installment Payment Option Fee:
A student who elects to pay tuition and fees under an installment payment plan will incur an additional enrollment fee, payable at the time of enrollment, for each semester that the student elects to pay by installment. Each LSCS College will charge the same fees.
LSCS Policy Manual Section adopted by the Board of Trustees on August 7, 2008