Revolving Charge Accounts

Reason for Policy: 

This policy addresses the creation of a Revolving Charge Account Plan.

Entities Affected by this Policy: 

Business Affairs; Treasury; University entities engaged in transactions related to the Plan.

Enactment & Revision History: 

Technical revisions enacted by the University Secretary on September 2, 2015.

Became a University of Oregon Policy by operation of law on July 1, 2014.

Former Oregon Administrative Rule Chapter 580 Division 40, Section 0041.

Policy: 

Revolving Charge Accounts Policy

(1) The University offering extended payment terms utilizing a revolving charge account method shall adopt policies creating the Revolving Charge Account Plan, and describing the terms and conditions applicable to the Plan.

(2) Transactions covered by the Plan may include (by way of description and not limitation) tuition, fees, housing charges and other obligations primarily involving students; facilities rentals, lease agreements, program user charges and other transactions with nonstudents; and fines and penalties, incurred by anyone.

(3) If adopted, University policy shall:

(a) Describe the interest to be charged, as well as service charges, collection and other fees and costs, if any, and penalties that would apply should an account become delinquent;

(b) Provide for an agreement to be signed by the obligor, the form of which shall be approved by the Vice President for Finance and Administration; the University shall use its best efforts to have the agreement signed, except for debts arising from fines, penalties and the like; and

(c) Provide that tuition and fees incurred in any given term be paid in full prior to enrollment in any subsequent term.

Chapter/Volume: 
Responsible Office: 

For questions about this policy, please contact the Office of the Vice President for Finance and Administration at 541-346-3003

Original Source: 
Oregon Administrative Rule