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Student Financial Responsibility Agreement


ROCHESTER INSTITUTE OF TECHNOLOGY 

STUDENT FINANCIAL RESPONSIBILITY AGREEMENT

PAYMENT OF FEES/PROMISE TO PAY

I understand and agree that when I register for any class at the Rochester Institute of Technology (RIT; university), or receive any service from RIT including student meals plan and/or housing charges or have deferred payments due or incur any liability for damages, I accept full responsibility to pay all tuition, fees and other associated costs assessed at any time as a result of my registration and/or receipt of services, or liability notwithstanding any anticipated third-party resource, including but not limited to financial aid, family gift, employer reimbursement or any other external resource. I promise to pay for all assessed tuition, fees and other associated costs by the published or assigned due date.

I understand and agree that if I drop or withdraw from some or all of the classes for which I register, I will be responsible for paying all or a portion of tuition and fees in accordance with RIT’s Tuition Refund Policies located here: http://www.rit.edu/fa/sfs/refund. I have read the terms and conditions of the published Tuition Refund Policies in the Tuition and Fees section of the Student Financial Services web page and I further understand that my failure to attend class or receive a bill does not absolve me of my financial responsibility as described above.

DELINQUENT ACCOUNT/COLLECTION

Financial Hold: I understand and agree that if I fail to pay my student account bill or any monies due and owing to RIT by the scheduled due date, the university will place a financial hold on my student account, preventing me from registering for future classes, requesting transcripts, or receiving my diploma.

Service Charge: I understand and agree that if I fail to pay my student account bill or any monies due and owing to RIT by the scheduled due date, the university will assess a Service Charge during each semester a late account balance is established at the rate of $25 for balances between $200 and $500, $50 for balances between $500 and $1500 and $75 for balances exceeding $1,500.

Collection Agency Fees:  I understand and accept that if I fail to pay my student account bill or any monies due and owed to RIT by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, the university may refer my delinquent account to a collection agency. I further understand that I am responsible for paying the collection agency fee which may be based on a percentage at a maximum of 33.3% percent of my delinquent account, together with all reasonable costs and expenses, including reasonable attorney’s fees, necessary for the collection of my delinquent account (except where prohibited by applicable law and only to the extent prohibited).   If the claim is litigated, I agree to be responsible for all reasonable associated court costs and disbursements in addition to reasonable attorney's fees. If the account is rendered into a judgement, statutory interest will continue to accrue on the unpaid balance.

 

COMMUNICATION

Method of Communication: I understand and agree that RIT 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 the university on a timely basis. I also understand that I may withdraw my consent to receiving tuition statements, tax forms, etc. electronically by submitting my request in writing to:

Rochester Institute of Technology

Student Financial Services,

25 Lomb Memorial Drive,

Rochester, NY 14623

 

Contact: I authorize RIT and its agents, attorneys, and contractors (including collection agencies) to contact me at my current and any future cellular/mobile phone number(s), email address(es) or wireless device(s) regarding my delinquent student account(s)/loan(s), any other debt I owe to RIT, or to receive general information from the university. I also authorize RIT and its agents and contractors to use automated telephone dialing equipment, artificial or pre-recorded voice or text messages, and personal calls and emails, in their efforts to contact me. Furthermore, I understand that I may withdraw my consent to (i) call my cellular phone; or (ii) contact me via automated telephone dialing equipment, artificial or pre-recorded voice or text messages by submitting my request in writing to:

Rochester Institute of Technology

Student Financial Services Office

 

or in writing to the applicable contractor or agent contacting me on behalf of the university.   

Updating Contact Information: I understand and agree that I am responsible for keeping RIT records up to date with my current physical addresses, email addresses, and phone numbers. Upon leaving the university for any reason, it is my responsibility to provide RIT with updated contact information for purposes of continued communication regarding any amounts that remain due and owing to the university.

ENTIRE AGREEMENT

This agreement supersedes all prior understandings, representations, negotiations and correspondence between the student and RIT, constitutes the entire agreement between the parties with respect to the matters described, and shall not be modified or affected by any course of dealing or course of performance.  Notwithstanding the above, the university may in its discretion amend or change these terms at any time and from time to time. Students will be bound by any such amendments or changes for any portion of their financial obligation to the university incurred on or after such amendments or changes, so you should periodically review these terms at http://www.rit.edu/fa/sfs/sfra for any such amendments or changes.

 

METHOD OF BILLING

I understand that RIT uses electronic billing (e-bill) as its official billing method, and therefore I am responsible for viewing and paying my student account e-bill by the scheduled due date. I further understand that failure to review my e-bill does not constitute a valid reason for not paying my bill on time. E-bill information is available here: https://www.rit.edu/eServices.

BILLING ERRORS

I understand that administrative, clerical or technical billing errors do not absolve me of my financial responsibility to pay the correct amount of tuition, fees and other associated financial obligations assessed as a result of my registration at RIT.

RETURNED PAYMENTS/FAILED PAYMENT AGREEMENTS

If a payment made to my student account is returned by the bank for any reason, I agree to repay the original amount of the payment plus a returned payment fee of $20. I understand that multiple returned payments and/or failure to comply with the terms of any payment plan or agreement I sign with RIT may result in cancellation of my classes and/or suspension of my eligibility to register for future classes at the university.

WITHDRAWAL

If I decide to completely withdraw from classes at RIT, I will follow the instructions located at https://www.rit.edu/academicaffairs/registrar/forms.html which I understand and agree are incorporated herein by reference.

IRS FORM 1098-T

I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to RIT upon request as required by Internal Revenue Service (IRS) regulations for Form 1098-T reporting purposes. If I fail to provide my SSN or TIN to the university, I agree to pay any and all IRS fines that may be assessed by the IRS as a result of my missing SSN/TIN.

I consent to receive my annual IRS Form 1098-T, Tuition Statement, electronically from RIT. I understand that if I do not consent to receive my Form 1098-T electronically, a paper copy will be provided to my last known address on file. I understand that I can withdraw this consent or request a paper copy by contacting:

Rochester Institute of Technology

Student Financial Services

25 Lomb Memorial Drive,

Rochester, NY 14623

 

 

AGREEMENT TERM

I understand that this Agreement shall remain in full force and effect so long as I am registered at and/or have an outstanding balance with RIT.

GOVERNING LAW

I agree to these terms of my financial obligation to the university (including any matter covered hereby) will be governed by and construed and enforced in accordance with the laws of the State of New York. The university may enforce any rights or remedies it may have under these terms or any applicable law in any state or federal court located in Monroe County, New York. If the university chooses, it may enforce its rights or remedies in any other court that is appropriate under applicable law. I waive any objection you might have to the bringing of any legal action or suit in any other court not located in Monroe County, New York on the basis that it is not the right or convenient place.

REPRESENTATIONS

I represent and warrant that I am of legal age and have full capacity to enter into this agreement with RIT to make it a binding contract and intend to be fully bound hereto.

ELECTRONIC SIGNATURE

I hereby acknowledge that I have read this agreement and understand it. By clicking the I AGREE button below, I consent to the electronic processing of this agreement and understand I am consenting to be bound by this agreement which shall serve as a promissory note, thereby obligating me to pay all outstanding balances due to RIT. I understand and agree that my electronic submission of this document acts as my electronic signature and will have the same legal effect as a signature on paper.