Student Accounts and Financial Holds
This policy affects all current and former/inactive students owing a debt to Colorado College.
Scope
All financial and administrative policies involving community members across campus, including volunteers are within the scope of this policy. If there is a variance between departmental expectations and the common approach described through college policy, the college will look to the campus community, including volunteers to support the spirit and the objectives of college policy. Unless specifically mentioned in a college policy, the college’s Board of Trustees are governed by their Bylaws.
Policy
Colorado House Bill 22-1049 (HB22-1049) requires postsecondary institutions to adopt a policy outlining how a student may obtain a transcript or diploma, any process whereby a transcript may be withheld from a current or former student, the identification of the point at which a student will no longer be able to register for classes due to debt owed, the lowest amount of debt at which the institution will assign the debt to a third-party collection agency and the procedures for filing a complaint with the Student Loans Ombudsman.
Ordering a Transcript or Diploma
Colorado College has retained Parchment LLC to accept and process transcript orders online.
Holds Preventing the Release of Transcripts and Diplomas
A financial hold preventing the release of diplomas or transcripts will be added to the academic record for all currently enrolled or former/inactive students who have an outstanding debt of greater than $250 due to Colorado College related to unpaid tuition, room, and board, or returned financial aid which is not subject to a current Payment Plan or Payment Arrangement.
Currently enrolled students and former/inactive students, except international students (in accordance with State Law), may request the financial hold preventing the release of transcripts and diplomas be temporarily lifted if:
- The transcript or diploma is required for a job application; or
- The transcript or diploma is required for the military (active duty or national guard); or
- The transcript or diploma is required for a financial aid application (federal, state, or institutional); or
- The transcript or diploma is required to apply to another college or university; or
- The transcript or diploma is required to apply for other postsecondary opportunities.
Approval to temporarily lift a financial hold and release a transcript or diploma does not constitute a waiver on debt owed. The financial hold will remain on the student’s academic record until debt is paid below $250.
Holds Preventing Student Registration
Colorado College does not apply financial holds that prevent a current student from pre-registering for future courses.
However, any students with past due balances exceeding $500 are restricted from viewing their grades and from adding or dropping classes after the pre-registration period is completed.
Financial Suspension
A current student will be financially suspended once a semester has been completed and a past due balance of $2,000 or greater remains outstanding for that semester.
Third Party Collection Agency
Colorado College may refer any delinquent debts of $250 or more, related to a former/inactive student, to a third-party collection agency as outlined in the financial agreement, executed upon admission to the College.
Payment Plans
Currently enrolled students are encouraged to establish a Payment Plan during the enrollment periods for each semester if unable to pay their semester balance in full by the stated semester due date.
Students participating in a Payment Plan which is “current” and paid in full by the stated semester due date are exempt from:
- financial holds preventing the release of a diploma;
- holds restricting students from viewing their grades; and
- holds restricting students from adding or dropping classes after the pre-registration period is completed.
Payment Arrangements
Former/inactive students are encouraged to establish a Payment Arrangement within 90 days of their departure from Colorado College if unable to pay their outstanding balance in full by the stated due date. Payment Arrangements allow a former student to make monthly payments, over a period not exceeding one year, to pay off their debt owed to Colorado College.
Former/inactive students participating in a Payment Arrangement which is “current” will not be referred to a third-party collection agency.
Procedures
Ordering a Transcript or Diploma
Colorado College has retained Parchment LLC to accept and process transcript and diploma orders online.
For further details on how to order a transcript or diploma, refer to the Registrar’s Office website.
Holds Preventing the Release of Transcripts and Diplomas
A financial hold preventing the release of diplomas or transcripts will be added to the academic record for all currently enrolled or former/inactive students who have an outstanding debt of greater than $250 due to Colorado College related to unpaid tuition, room, and board, or returned financial aid which is not subject to a current payment plan or payment arrangement.
In accordance with Colorado House Bill 22-1049, some currently enrolled students and former/inactive students, are eligible for the financial hold preventing the release of transcripts and diplomas to be temporarily lifted (see Policy).
To request the hold to be temporarily lifted, the student should email the Colorado College’s Student Accounts office (studentaccounts@coloradocollege.edu) with their student ID, name, and a copy of the application document listed above demonstrating the requirement for a transcript or diploma. Please do not send personal information via email, such as birth date or Social Security Number. If granted, the hold will be lifted for as long as it takes to generate the requested transcript or diploma. Requesters will pay the normal transaction fees for transcript and diploma requests, as published on the Registrar’s Office website.
International students, who are excluded from the provisions of Colorado House Bill 22-1049, should contact Student Accounts for a case-by-case assessment of whether the financial hold preventing the release of transcripts and diplomas can be temporarily lifted.
Approval to temporarily lift a financial hold and release a transcript or diploma does not constitute a waiver on debt owed. The financial hold will remain on the student’s academic record until debt is paid below $250.
Holds Preventing Student Registration
Colorado College does not apply financial holds that prevent a current student from pre-registering for future courses.
However, any students with past due balances exceeding $500 are restricted from viewing their grades and from adding or dropping classes after the pre-registration period is completed. This financial hold will remain on the student’s academic record until debt is paid below $500.
Financial Suspension
A current student will be financially suspended once a semester has been completed and a past due balance of $2,000 or greater remains outstanding for that semester. The student is withdrawn (becomes “inactive”) from the college and courses and housing reservations for the upcoming term are dropped. The student may be reinstated for a future semester with approval from the Student Life Office once the balance is paid in full.
Third Party Collection Agency
Colorado College may refer any delinquent debts of $250 or more, related to a former/inactive student, to a third-party collection agency as outlined in the financial agreement, executed upon admission to the College.
A former/inactive student will have 90 days to resolve any past due balance or establish a Payment Agreement on any defaulted balance with Colorado College prior to a third-party collection agency referral. Payment Arrangements will allow a former student to make monthly payments, over a period not exceeding one year, to pay off their debt owed to Colorado College.
Payment Plans
Currently enrolled students are encouraged to establish a Payment Plan during the enrollment periods for each semester if unable to pay their semester balance in full by the stated semester due date.
For further details on how to enter into a Payment Plan refer to the Student Accounts website.
A student’s Payment Plan will be revoked, financial holds will apply, and balance owed will become due in full once two installment payments are missed. A student may be subject to financial suspension if the balance is not paid in full by the final installment due date.
Payment Arrangements
Former/inactive students are encouraged to establish a Payment Arrangement within 90 days of their departure from Colorado College if unable to pay their outstanding balance in full by the stated due date.
For further details on how to enter into a Payment Arrangement, contact the Student Accounts Office.
Note, a Student’s Payment Agreement will be revoked, and the balance will become due in full once two installment payments are missed and the account may be sent to a third-party collection agency.
Hardship Considerations
Current or former/inactive students having difficulty making payments should call Student Accounts. There are options available to help individuals get back on track financially.
Complaints
Students (current or former/inactive) may file a complaint pertaining to HB22-1049 by contacting:
Colorado Department of Law
Consumer Protection Section
Consumer Credit Unit – SLS
Ralph L. Carr Colorado Judicial Center
1300 Broadway, 6th Floor
Denver, CO 80203
Consumer Complaints & Licensing:
Ph. (720) 508-6975
Students (current or former/inactive) may contact Student Accounts to file any complaints pertaining to the Colorado College Policy:
Colorado College
830 N. Tejon Street
Colorado Springs, CO 80903
studentaccounts@coloradocollege.edu
Ph. (719) 389-6698
Definitions
Diploma: the official diploma of Colorado College which signifies the completion of a degree program.
Transcript: the official academic transcript of Colorado College which includes a person’s coursework and level of achievement.
Hold: an administrative restriction that prevents a student, or former student, from performing a specific action (such as registering for classes, reviewing grades, completing add/drops, or receiving their transcript).
Payment Plan: an agreement between the College and a current student that allows the student to distribute payment of their account balance over a defined period.
Payment Arrangement: a short-term agreement between the College and a former student that allows the former student to make recurring payments to reduce and eventually eliminate the debt owed to the college.
Returned Financial Aid: Title IV financial aid funds that a current or former student owes to the college due to miscalculation, withdrawal, misinformation, or other reasons.
Current Student: an active, currently enrolled student at Colorado College, including those who are on an approved leave of absence.
Former/Inactive Student: a (former) student of the college who is not currently enrolled.
International/Foreign Student: Defined in Colorado Revised Statutes 23-1-113.5 as a student who is counted as foreign and present in the United States on a nonimmigrant visa.
Room and Board Fees: Any money, obligation, claim or sum, due or owing from a current or former/inactive student for the provision of contractually agreed upon on-campus housing or meal service plans.