The University pursues debt in accordance with the guidelines set forth by the Commonwealth of Virginia in the Virginia Debt Collection Act. Virginia State law requires that the university make every attempt to collect past due amounts owed to state agencies.
If you have outstanding charges when bills run, you are subject to financial penalties. Late fees are assessed at the time of billing for accounts that are 30 days or more past due.
Financial Information & Disclosure Statement
Students are expected to access financial information through the University's secured access site on the World Wide Web (PIN required). Failure to receive written notification (for example, a billing statement by mail) is not a justification for granting immunity in financial matters. Failure to access available data through self-service access via Leo Online or to read and comply with university regulations will not exempt students from whatever financial penalties they may incur.
Registrations Will Not Be Canceled for Nonpayment of Tuition
Failure to attend a course after registering is not justification for elimination of charges. A student must officially drop to qualify for a refund or release of charges by the drop/add deadline posted in the schedule of classes. Failure to pay will not release a student from the responsibility for these charges.
Outstanding Debts/Delinquent Accounts
Students with outstanding debts are denied University services until all debts are paid in full. Students will be permitted to drop current or future term courses at the Registrar's Office during the specified tuition refund periods. Student accounts are subject to the financial policies of Old Dominion University, as specified in the University Catalog.
Late fees are assessed at the time of billing for accounts that are 30 or more days past due. At 30 days past due, a late penalty of 5% (effective with Fall 2012 charges) of the outstanding balance is assessed. The Late Penalty indicates that your account is past due. Unless you resolve the debt, the University will advance the matter to the next step in the collection process*, and you risk tarnishing your credit rating.
Once the principal amount on an account is 120 days past due and forwarded to collections, repayment arrangements must be made directly with the collection agency, and the account holder bears the costs associated with collection efforts. *Late fees will be 90 days past due when sent to collections, since they are sent to collections at the same time as the principal amount. Effective April 1, 2011, the costs associated with collection efforts are 25% of the outstanding balance, which is the standard and customary amount for the collection industry. (Prior to charges for Fall 2012 semester, accounts were forwarded to collections at 90 days past due.)
Collection costs from March 17, 2009-April 1, 2011, were 29.87%.
Prior to March 17, 2009, the costs associated with collection efforts were 33.33% of the outstanding balance.