Payment and Initial Disclosure Agreement

By signing below, I acknowledge and agree to the following terms of registration:

Students are responsible for the timely payment of all tuition, fees, and charges due at Montreat College (hereafter referred to as “the College”). The Federal Truth-in-Lending Act requires complete disclosure of the terms and conditions controlling payment of the student’s obligations. To comply with these federal statutes and regulations, the College requests that students carefully review the following disclosures, terms, and conditions before signing this agreement. If students have any questions, they should call the Student Financial Services Office at 800.545.4656.

This Payment and Initial Disclosure Agreement (PIDA) covers the student’s financial obligations to the College will cover the student’s financial obligations to the College for so long as the student continues to incur obligations to the College and/or has an outstanding balance on financial obligations to the College. The College reserves the right to modify the terms and conditions of this disclosure statement prior to registration for any semester.

Balances are due in full at the beginning of each term. Students enrolled in an approved Payment Plan will have monthly installments due by the 15th of each month. Monthly account statements will be emailed to students with a balance due. If a balance exists, students must make a payment to bring the account current. An account is considered “current” if the existing balance is paid in full or the student is up to date on an approved Payment Plan. Charges, credits, financial aid, payments, and any account changes will be reflected in MAP and can be accessed online at any time.

Full payment of any previous obligations is due prior to registration. Any student account with a delinquent balance will not be allowed to complete registration for a future semester until the account is paid in full. Any changes in the student’s financial obligations caused by a change in schedule or aid are available for the student to view immediately using MAP on the Montreat College website. The statement will itemize payment obligations to the College, including, but not limited to, tuition, room, board, course fees, general student fees, books, fines, and activity fees. The statement will reflect any credits due to the student as of the date of the statement, such as financial aid awards in the form of grants, loans, deposits, etc. …

A $75 fee will be charged for delinquent accounts unless a payment plan is approved by the Student Financial Services Office and the payment plan is fulfilled. The College has the right to take steps to collect the balance, including but not limited to the following: Prohibiting registration for upcoming terms, dropping future courses, withholding diplomas, turning an account over to a collection agency, reporting the balance to the credit bureau, and taking legal action to collect the balance due.

The College’s duties and obligations under this Agreement shall be suspended immediately, without notice, during any period when the College is closed due to events including, but not limited to, fire, acts of God, war, governmental action, acts of terrorism, epidemics, pandemics, or any other event beyond the College’s control. If such an event occurs, the College’s duties and obligations under this Agreement will be postponed until the College, in its sole discretion, may safely reopen. My obligations under this Agreement will remain in effect.

This Agreement creates a legal obligation to pay all applicable tuition and fees and must be signed by each student before registering for classes each term. I have read the above conditions and understand my financial responsibility to Montreat College.

If I withdraw from a class or if my aid is adjusted, I will remain responsible for any outstanding balance on my account. Refunds, if applicable, will be issued pursuant to College policies on withdrawals and refunds, as detailed in the Academic Catalog. If any federal, state, or other aid must be returned to its source for any reason, I am responsible for repaying the resulting balance to Montreat College immediately.

For billing related questions, please contact the Student Financial Services Office at (800) 545-4656 or FinancialServices@montreat.edu.  However, to preserve my rights under the Federal Truth-in-Lending Act, written notice must be received by the Student Financial Services Office within 15 days of receiving a delinquency notice. Written inquiries should include the name, account number, and a description of the issue and be sent to:

Student Financial Services Office
Montreat College
P.O. Box 1267
Montreat, NC 28757

The Academic Catalog is available online at https://www.montreat.edu/academics/academic-catalog.

FERPA prohibits Montreat College from providing certain information regarding student records to any third party, including a spouse. Unless I complete the “FERPA Release Authorization” form, the College is unable to share details, including (but not limited to) tuition, fees, other account charges, account payments, account status, and tuition overpayment refund checks with anyone other than the student, regardless of who has remitted payment on the student’s behalf. The “FERPA Release Authorization” form is available online at https://www.montreat.edu/registrar/ferpa.

I authorize Montreat College to:

• Release financial information about my student account to those concerned with collecting the balance owed.
• Contact me and/or its respective agents and contractors regarding my delinquent account at the current or future number I provide for my cellular phone or other wireless device, using automated telephone dialing equipment or artificial or pre-recorded voice or text messages.
• Use Federal Title IV funds (Pell Grants and/or Federal Direct Loans) to cover all charges on my student account, including tuition, fees, and other institutional charges I may incur.
• Apply Federal Title IV Financial Aid to prior-year charges with my current year’s financial aid up to a maximum of $200, if I have sufficient aid to cover my current charges and have excess financial aid available.

This agreement will remain in effect for the academic year and term for which I am registering. In addition, the terms of this agreement will continue to apply for the duration of my enrollment at Montreat College, even if I do not sign a new agreement in future terms. Both the College and I agree and acknowledge that this Payment and Initial Disclosure Agreement can be executed electronically and, when signed electronically, is binding in every way as if it had been signed by hand.