Debt Collection Policy
If there is a default in the payment of an obligation to Ave Maria University Latin American Campus, the student is responsible for all costs incurred in the collection of the same, including but not limited to, collection agency fees, attorney fees (not to exceed one-third (1/3) of the unpaid debt), and court costs, if suit becomes necessary. Since student charges are in U.S. dollars, the default payment is to be paid in U.S. dollars or the equivalent in Nicaraguan Cordoba at the Official rate of the University’s receipt of payment policy. The payment is to be made by certified check, cash, or bank transfer. For U.S. students, this policy will be enforced through a U.S. collection agency, thus affecting the student’s Social Security Status.
DROP/ADD PROCESSING FEES
Drops/adds are changes in a schedule that do not constitute a complete withdrawal from the university. When a student drops a class or withdraws, the official withdrawal date from which all claims for deductions and refunds will be computed is the date on the official withdrawal form signed by the Academic Dean.
(a) During the regular semester, drops/adds will be processed as follows:
Drops/adds during summer sessions will be processed as previously stated except that after one full week, there will be no reduction in charges. For one day following registration, drops/adds will be free, except that a student must pay for any additional tuition or fees.
Students who withdraw should contact the Record Office to begin the withdrawal process and obtain any refund due. Refunds of charges will be calculated from the first date of classes to the last date of attendance or date of official withdrawal. All students, except new students enrolled in their first term at AMU-LAC, will have their refunds calculated at the following rates. These refunds will be less an administrative fee not to exceed the lesser of 5% of the tuition, fees, room and board, and other charges assessed the student or $100.
New students who are attending AMU-LAC for their first term will receive a pro rata refund if their last date of attendance is within the first 60% of the term. A pro rata refund is a refund of a portion of tuition, fees, room and board. It also includes any other charges assessed by the institution equal to the portion of the period of enrollment for which the student has been charged that remain on the last recorded day of attendance less any unpaid charges owed by the student for the period of enrollment, less an administrative fee not to exceed the lesser of 5% of the tuition, fees, room and board and other charges assessed by the student, or $100, whichever is less.
Whenever students are required to withdraw from the University because of unsatisfactory conduct or scholarship, no refund will be made except for refunds due for federal financial assistance. No refunds will be made for any scholarship funds controlled and/or granted by the University.
Federal Aid Withdrawal/Refund Policy
Federal policies and procedures require that if a student withdraw from all classes prior to the date when 60% of the enrollment period‘s class day have passed, a student‘s federal aid for that period of enrollment is subject to adjustment. The adjustment is determined by calculating the percentage of federal aid earned (the number of class days the student was enrolled by the total number of days in the enrollment period). This percentage determines the amount of federal aid earned for the enrollment period with the unearned balance being returned to the federal aid programs. If after returning the funds, a student account balance results, the student will be mailed a student account bill detailing all adjustments.