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Failure to clear all account balances can result in late payment penalties. An initial Late Payment Fee of $50 will be charged on any outstanding balance during the first billing period. A 1 1/3 percent monthly (16 percent annually) Late Payment Penalty will be assessed on any outstanding balance thereafter. In addition, failure to make timely payment of housing charges violates the dormitory agreement and may result in eviction. Furthermore, unpaid accounts can be referred to a collection agency.
The College reserves the right to withhold grades, transcripts, diplomas, and other services, including registration, from students whose financial obligations have not been fully satisfied. In the event Teachers College refers any unpaid balance for collection and/or legal action, the student will be obligated to pay all related costs including but not limited to attorney's fees and collection costs.