Hampshire College binder with papers

Financial Responsibility Agreement

Payment of Fees/Promise to Pay

I understand that when I register for any class at Hampshire College or receive any service from Hampshire College, I accept full responsibility to pay all tuition, fees, and other associated costs assessed as a result of my registration and/or receipt of services. I further understand and agree that my registration and acceptance of these terms constitutes a promissory note agreement (i.e., a financial obligation in the form of an educational loan as defined by the U.S. Bankruptcy Code at 11 U.S.C. §523(a)(8)) in which Hampshire College is providing me with educational services, deferring some or all of my payment obligation for those services, and 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 the published tuition refund schedule. I have read the terms and conditions of the published tuition refund schedule and understand those terms are incorporated herein by reference. 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

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

Late Payment Charge: I understand and agree that if I fail to pay my student account bill or any monies due and owing Hampshire College by the scheduled due date, Hampshire College will assess late payment and/or finance charges at the rate of 1.25% per month on the past due portion of my student account until my past due account is paid in full.

Placement with a Collection Agency: I understand and accept that if I fail to pay my student account bill or any monies due and owing Hampshire College by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, Hampshire College may refer my delinquent account to a collection agency. I further understand that if Hampshire College refers my student account balance to a third party for collection, a collection fee will be assessed and will be due in full at the time of the referral to the third party. The collection fee will be calculated at the maximum amount permitted by applicable law, but not to exceed 33.3% of the amount outstanding. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus.

Method of Billing

I understand that Hampshire College 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. View e-billing information.

Communication

Method of Communication: I understand and agree that Hampshire College uses email as an official method of communication with me and that therefore I am responsible for reading the emails I receive from Hampshire College on a timely basis.

Contact: I authorize Hampshire College and its agents and contractors to contact me at my current and any future cellular phone number(s), email address(es) or wireless device(s) regarding my delinquent student account(s)/loan(s), any other debt I owe to Hampshire College, or to receive general information from Hampshire College. I authorize Hampshire College 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 call my cellular phone by submitting my request in writing to the bursar or in writing to the applicable contractor or agent contacting me on behalf of Hampshire College.

Updating Contact Information: I understand and agree that I am responsible for keeping Hampshire College records up to date with my current physical addresses, email addresses, and phone numbers by following this procedure. The linked procedure is incorporated herein by reference. Upon leaving Hampshire College for any reason, it is my responsibility to provide Hampshire College with updated contact information for purposes of continued communication regarding any amounts that remain due and owing to Hampshire College.

Financial Aid

I understand that aid described as “estimated” on my Financial Aid Award does not represent actual or guaranteed payment, but it is an estimate of the aid I may receive if I meet all requirements stipulated by that aid program.

I understand that my Financial Aid Award is contingent upon my continued enrollment and attendance in each class upon which my financial aid eligibility was calculated. If I drop any class before completion, I understand that my financial aid eligibility may decrease and some or all of the financial aid awarded to me may be revoked.

If some or all of my financial aid is revoked because I dropped or failed to attend class, I agree to repay all revoked aid that was disbursed to my account and resulted in a credit balance that was refunded to me.

I agree to allow financial aid I receive to pay any and all charges assessed to my account at Hampshire College such as tuition, fees, campus housing and meal plans, student health insurance, parking permits, service fees, fines, bookstore charges, or any other amount, in accordance with the terms of the aid.

Prizes, Awards, Scholarships, Grants: I understand that all prizes, awards, scholarships and grants awarded to me by Hampshire College will be credited to my student account and applied toward any outstanding balance. I further understand that my receipt of a prize, award, scholarship, or grant is considered a financial resource according to federal Title IV financial aid regulations and may therefore reduce my eligibility for other federal and/or state financial aid (i.e., loans, grants, Federal Work Study) which, if already disbursed to my student account, must be reversed and returned to the aid source.

Entire Agreement

This agreement supersedes all prior understandings, representations, negotiations, and correspondence between the student and Hampshire College, 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. This agreement may be modified by Hampshire College if the modification is signed by me. Any modification is specifically limited to those policies and/or terms addressed in the modification.

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Amherst, MA 01002