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Statement of Financial Responsibility Agreement

Southeast Tech Statement of Financial Responsibility

PAYMENT OF FEES/PROMISE TO PAY

I understand that when I register for any class at Southeast Technical Institute, (referred to herein as Southeast Tech) or receive any service from Southeast Tech, 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 Southeast Tech is providing me 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 policy located in the catalog (available online at http://catalog.southeasttech.edu/). 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

Financial Hold: I understand and agree that if I fail to pay my student account bill or any monies due and owing Southeast Tech by the scheduled due date, Southeast Tech will place a financial hold on my student account, preventing me from registering for future classes, requesting transcripts, or receiving my diploma.  If already enrolled, future term courses will be dropped as a result of unpaid balances from a prior term.

Late Payment Charge: I understand and agree that if I fail to pay my student account bill or any monies due and owing Southeast Tech by the scheduled due date, Southeast Tech will assess late payment and/or finance charges at the rate of $25 per month on the past due portion of my student account until my past due account is paid in full or my account balance is referred to a collection agency, whichever may come first.

Collection Agency Fees: I understand and accept that if I fail to pay my student account bill or any monies due and owing Southeast Tech by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, Southeast Tech may refer my delinquent account to a collection agency. I further understand that if Southeast Tech refers my student account balance to a third party for collection, a collection fee will be assessed and I will be responsible to pay such collection fee 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. For purposes of this provision, the third party may be a debt collection company or an attorney. If a lawsuit is filed to recover an outstanding balance on my student account, I shall also be responsible for any costs associated with the lawsuit, such as court costs, attorney’s fees, or other applicable costs. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus.

COMMUNICATION

Method of Communication: I understand and agree that Southeast Tech uses e-mail as an official method of communication with me, and that therefore I am responsible for reading the e-mails I receive from Southeast Tech on a timely basis. I expressly consent to receiving electronic communications from Southeast Tech and certify that I am able to receive and view electronic communications sent to my email address of record with Southeast Tech.

Contact: I authorize Southeast Tech 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 Southeast Tech or to receive general information from Southeast Tech. I authorize Southeast Tech 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 contact my cellular telephone using automated telephone dialing equipment or pre-recorded voice messages by submitting my request in writing to Southeast Tech Business Office at 2320 N Career Avenue, Sioux Falls, South Dakota, 57107 and to any contractor or agent contacting me on behalf of Southeast Tech, if applicable. Contact information for applicable contractors or agents can be found on the Student Accounts page of our website.

Updating Contact Information: I understand and agree that I am responsible for keeping Southeast Tech records up to date with my current physical address, email address, and phone number by contacting the Southeast Tech Admissions Office at 605.367.6040. (An online form is also available for registered students to update contact information via the STINET/Student Tab on our website). I agree to update my contact information with Southeast Tech immediately upon any change to such information. Upon leaving Southeast Tech for any reason, it is my responsibility to provide Southeast Tech with updated contact information for purposes of continued communication regarding any amounts that remain due and owing to Southeast Tech.

ENTIRE AGREEMENT

This agreement supersedes all prior understandings, representations, negotiations and correspondence between me and Southeast Tech and constitutes the entire agreement between the parties with respect to the matters described herein. This agreement shall not be modified or affected by any course of dealing or course of performance. This agreement may be modified by Southeast Tech if the modification is signed by me. Any modification is specifically limited to those policies and/or terms addressed in the modification.

FINANCIAL AID

I understand that aid described as “estimated” on my Financial Aid Award does not represent actual or guaranteed payment, but 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 Southeast Tech 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.

Federal Aid: I understand that any federal Title IV financial aid that I receive, except for Federal Work Study wages, will first be applied to any outstanding balance on my account for tuition, fees, room and board. Title IV financial aid includes aid from the Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Direct Loan, PLUS Loan, Perkins Loan, and TEACH Grant programs. I authorize Southeast Tech to apply my Title IV financial aid to other charges assessed to my student account such as student health insurance, parking permits, bookstore charges, service fees and fines, and any other education related charges. I further understand that this authorization will remain in effect until I rescind it. I may withdraw this authorization at any time by contacting the Southeast Tech Business Office at 605.367.7124. I understand that if I rescind or withdraw my authorization to allow Southeast Tech to apply Title IV financial aid to other charges assessed to my student account, the other charges will still be due and payable by me to Southeast Tech.

Prizes, Awards, Scholarships, Grants:   I understand that all prizes, awards, scholarships and grants awarded to me by Southeast Tech 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.

METHOD OF BILLING

I understand that Southeast Tech 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 expressly consent to receiving e-bills from Southeast Tech and certify that I am able to receive and view e-bills sent to my email address of record with Southeast Tech. I further understand that failure to review my e-bill does not constitute a valid reason for not paying my bill on time. E-bill information is available at stinet.southeasttech.edu.

BILLING ERRORS

I understand that administrative, clerical or technical billing errors do not absolve me of my financial responsibility to pay the correct amount of tuition, fees and other associated financial obligations assessed as a result of my registration at Southeast Tech.

RETURNED PAYMENTS/FAILED PAYMENT AGREEMENTS

If a payment made to my student account is returned by the bank for any reason, I agree to repay the original amount of the payment plus a returned payment fee of $30. I understand that multiple returned payments and/or failure to comply with the terms of any payment plan or agreement I sign with Southeast Tech may result in cancellation of my classes and/or suspension of my eligibility to register for future classes at Southeast Tech.

WITHDRAWAL

If I decide to completely withdraw from Southeast Tech, I will follow the instructions in the Southeast Tech catalog, available at our website, and also available in the Student Success Office located at 2320 N Career Avenue, Sioux Falls, South Dakota, 57107. I understand and agree that these withdrawal instructions are incorporated herein by reference.

PRIVACY RIGHTS & RESPONSIBILITIES

I understand that Southeast Tech is bound by the Family Educational Rights and Privacy Act (FERPA) which prohibits Southeast Tech from releasing any information from my education record without my written permission. Therefore, I understand that if I want Southeast Tech to share information from my education record with someone else, I must provide written permission by following the procedure outlined on STInet, under the Student Tab/Academic Information/Release of Information. I further understand that I may revoke my permission at any time as instructed in the same procedure.

IRS FORM 1098-T

I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to Southeast Tech upon request as required by Internal Revenue Service (IRS) regulations for Form 1098-T reporting purposes. If I fail to provide my SSN or TIN to Southeast Tech, I agree to pay any and all IRS fines assessed as a result of my missing SSN/TIN.

If available, I consent to receive my annual IRS Form 1098-T, Tuition Statement, electronically from Southeast Tech. If not available electronically, I understand and agree that a paper Form 1098-T will be mailed to the address on file with Southeast Tech. I understand that if I do not consent to receive my Form 1098-T electronically, a paper copy will be provided. I understand that I can withdraw this consent or request a paper copy of my Form 1098-T by contacting the Southeast Tech Business Office at 605.367.7124.

STUDENT AGE

I understand and agree that if I am younger than the applicable age of majority when I execute this agreement that the educational services provided by Southeast Tech are a necessity, and I am contractually obligated pursuant to the “doctrine of necessaries.”

GOVERNING LAW

This agreement shall be governed by the internal laws, and not by the laws regarding conflicts of laws, of the State of South Dakota.

Rev. 12/20/2018