Financial Responsibility Agreement

This Financial Responsibility Agreement outlines the policies and procedures governing the management of your Student Account at the University of Chicago. Students are required to confirm their review and agreement to these policies once during their academic career. Failure to review and agree will result in restriction of future registration.

STUDENT ACCOUNT AND PAYMENT OF FEES

I understand the Office of the University Bursar conducts all business directly with me and establishes a Student Account in my name. I understand the University of Chicago is authorized to apply any credits in my Student Account against any charges applied to my Student Account.

I understand when I enroll at the University of Chicago or receive any service from the University of Chicago 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 my registration and acceptance of these terms constitutes a contractual 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 the University of Chicago is providing me educational services and deferring some or all of my payment obligation for those services. 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 schedule at www.bursar.uchicago.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 my failure to attend class or receive a bill does not absolve me of my financial responsibility as described above.

COMMUNICATION

I understand the University of Chicago uses e-mail as an official method of communication for student account information. I am responsible for reading on a timely basis the e-mails sent by the University of Chicago to my UChicago.edu email account.

I understand and agree that I am responsible for keeping University of Chicago records up to date with my current mailing addresses, email addresses, and phone numbers by following the procedure at www.my.UChicago.edu. Upon leaving University of Chicago for any reason, it is my responsibility to provide University of Chicago with updated contact information for purposes of continued communication regarding any amounts that remain due and owing to the University of Chicago.I authorize the University of Chicago and its agents and contractors to contact me at my current and any future cellphone number(s), email address(es), or wireless device(s) regarding my delinquent student account(s)/loan(s), any other debt I owe to the University of Chicago, or to receive general information from the University of Chicago.

I authorize University of Chicago and its agents and contractors to use automated telephone dialing equipment, artificial or prerecorded voice or text messages, and personal calls and emails in their efforts to contact me.

Furthermore, I understand that I may withdraw my consent receive calls or texts on my cellphone using automated telephone dialing equipment by submitting a clear revocation request to the University Bursar or to the applicable contractor or agent contacting me on behalf of University of Chicago.

METHOD OF BILLING/ELECTRONIC TRANSACTIONS

I understand the University of Chicago uses electronic billing (E Bill) as its official billing method, and therefore I am responsible for viewing and paying my E Bill by the scheduled due dates. 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 University Bursar.

PAYMENTS/REFUNDS

I understand the University of Chicago has methods of acceptable payment options for my Student Account and they are available for review at www.bursar.uchicago.edu. I understand the University of Chicago does not accept currency for payment for my Student Account.

I understand I may authorize individuals to make payments on my behalf. I understand the University of Chicago does not accept payments in excess of the amount I have been billed, however, in the event of a student account overpayment the credit will be issued in my name.

FINANCIAL AID

I understand if I receive federal, state, or institutional financial aid, I give the financial aid office at the University of Chicago consent to communicate with me electronically about my financial aid eligibility, including but not limited to award amounts, loan disclosures, and entrance and exit counseling.

I understand that applications for renewing financial aid as well as accepting or declining any awards are managed through electronic processes and I will be responsible for completing all necessary actions before any financial aid may disburse to my account.

I understand any federal Title IV financial aid I receive, except for Federal Work-Study (FWS) wages, will first be applied to any outstanding balance on my account for tuition, fees, and room and board. Title IV financial aid includes aid from the Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Direct Loan, PLUS Loan, and TEACH Grant programs.

WITHDRAWAL

If I decide to completely withdraw from University of Chicago, I will follow the instructions provided by my local Dean of Students Office in my Academic Division.

RETURN OF FINANCIAL AID UPON WITHDRAWAL

If I receive federal, state or institutional financial aid and elect to withdraw, I understand that I may only be eligible to keep a portion of my financial aid dependent on my withdrawal date. I agree that I am responsible for any remaining balance after federal aid has been adjusted.

IRS FORM 1098-T

I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to The University of Chicago upon request as required by Internal Revenue Service (IRS) regulations for Form 1098-T reporting purposes. I consent to receive my annual IRS Form 1098-T electronically from the University of Chicago for every year I have transactions until I withdraw this consent. If I withdraw my consent to receive my IRS Form 1098-T electronically, a paper copy will be mailed to me. I understand that a withdrawal of consent does not apply to Forms 1098-T furnished electronically before the effective date of the withdrawal. I further understand that a request for a paper copy of my Form 1098-T will not be treated as a withdrawal of consent. Consent withdrawal must be submitted to the University Bursar . I may view and print IRS Form 1098-T by logging into my.UChicago.edu.

The University of Chicago will notify me at my UChicago e-mail when my IRS Form 1098-T is posted, and I can update my address information by logging into my.UChicago.edu. I understand that I will need a computer with Internet access, a printer, and Adobe Acrobat software to access, print, and retain my Form 1098-T and that my Form 1098-T will remain available on my.UChicago.edu for three years after it is first made available to me electronically.

REFUND SCHEDULE

I understand and agree that if I drop or withdraw from some or all of my registered classes, I may be responsible for paying all or a portion of tuition and fees in accordance with the published tuition Refund Schedule.

RETURNED PAYMENTS

I understand 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 $25 for each occurrence.

DELINQUENT ACCOUNT/COLLECTION

Student Account Hold: I understand and agree that if I fail to pay my student account bill or monies due and owing the University of Chicago by the scheduled due date, the University of Chicago will place a hold on my student account, preventing me from registering for future classes or receiving my diploma.

Late Payment Charge: I understand and agree that if I fail to pay my student account bill or any other monies due to the University of Chicago by scheduled due dates, the University of Chicago will assess late payment fees at the rate of $150 per quarter until my past-due account is paid in full.

Collection Agency: I understand and accept that if I fail to pay my student account bill or any other charges by the scheduled due date and fail to make acceptable payment arrangements with the Bursar’s Office, the University of Chicago may refer my delinquent account to a third-party collection agency.

ENTIRE AGREEMENT

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

STUDENT AGE

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

GOVERNING LAW AND CONSENT TO JURISDICTION

I understand this agreement is governed by the laws of the State of Illinois and applicable federal laws of the United States, without regard to conflicts of laws principles. I consent to the exclusive jurisdiction of the state and federal courts sitting in Chicago, Illinois for any legal actions or proceedings concerning this agreement or its subject matter.

SEVERABILITY CLAUSE

If any provision, term, or clause of this agreement is declared illegal, unenforceable, or ineffective in a legal forum with competent jurisdiction to do so, this agreement shall be deemed severable, and all other provisions, terms, and clauses of the agreement will remain valid and binding.

Please Contact the Office of the Bursar for additional questions or concerns.