Knox College Tuition Payment Master Promissory
Upon registration at Knox College, you have a unique cumulative student account balance. This account uses your Knox College Student Identification Number to identify you for the purposes of maintaining your account. The account becomes a part of your permanent information file at Knox College and remains when you graduate or cease to be enrolled. Your student account will include all the charges and credits assessed to you during your enrollment at Knox College. Charges include, but are not limited to, tuition, course fees, health fee, activity fee, room, board, fines, and late fees. Credits include, but are not limited to, financial assistance received and payments made to your account. Students are billed prior to the start of each term—fall, winter, and spring. Your student account may be viewed online. You may request a copy of your student account or question charges or credits at any time by contacting the Business Office in Old Main (Room 106) during regular business hours, or by calling the Student Accounts Coordinator at +1-309-341-7313.
You are responsible for the timely viewing of your bill and for the payment of your bill. All payments are due on or before the stated due date. Accounts with no payments made by the due date are subject to late fees. In addition, if payment is not made by the first due date, your classes for that term may be dropped.
Your student account balance is considered by Knox College, a non-profit institution of higher learning, to be an educational loan, as defined by 11 USC Section 523(a)(8)(B) if tuition is not paid in full. This loan is made to you to assist in the financing of your education, and therefore is not dischargeable under the United States Bankruptcy Code. Since we are extending credit to you for the purpose of financing your education at Knox College, any outstanding balance is subject to late payment charges as described on the Knox College website. By indicating you have read this Tuition Payment Master Promissory Note below (electronically signing off), you agree that Knox College has the right to collect any past due funds. This includes, but is not limited to, any collection costs, attorney’s fees, court costs, and late fees incurred.
Your account balance is deemed past due or in default when you have not paid your term bill in full by the term due date, have not set up an acceptable payment plan with our payment plan provider by the term due date, or have defaulted on your payment plan. Knox College may take steps to collect any past due charges including the following: the withholding of academic transcript and diploma, the placement of holds to prevent registering for future terms and pre-enrollment for future terms. You may also be prevented from returning to the College for a future term until the obligation is satisfied. Accounts may also be placed with outside collection agencies for collection.
By electronically signing this agreement with Knox College, you promise to take financial responsibility for the payment of all education-related charges and fees incurred on your student account. Any balance due to the College as a result of adjustments made to your financial assistance or charges become your responsibility for payment.
This agreement will remain in effect for the duration of your enrollment at Knox College. By clicking the agree button on the document, you accept all the terms and conditions outlined above. If tuition is paid in full, this promissory note is null and void.