Monday, July 7, 2008

Account Balances?

Summer offers lots of options for students. Few of them, other than summer school have anything to do with school. Mostly it is either kick back or work like crazy or both. With this in mind it might be a good idea, in fact, a very good idea, to check your account balances.
If you don’t know you have an account at your school then you probably don’t know that you have a balance. In this case some basic Planet College orientation is due.

When a student is admitted most colleges create an account for the new student. This account is administered through an office usually in the administration building. This often is called the Bursar’s office but it might be titled Student Accounts. Whatever. But either way you as a student have an account.

This account works somewhat similarly to other accounts you may have. Checking accounts or savings accounts at your bank or credit union or bank are common examples. In your schools system charges such as tuition, housing, fees, library fines etc are applied to your account. When payments are received they are applied to your account. When the payments applied to the account equal or exceed the charges the account is usually said to be balanced.

Payments are often made through the financial aid office. When Financial Aid funds are received they are applied, also known as 'credited' to your account. Payments are also made by students with a check or a credit card. Some times payments are made by parents directly to the school which means they are applied 'to the students account.

However the payments are made the simple fact is you do have an account and the school wants it balanced. More simply they want the money.

When charges to your account exceed payments you have a negative balance. If this condition continues for a period of time you may receive a notice from your school concerning payments past due. This condition can seriously affect your ability to register for your next term or even continue at your school it bears careful attention.

Since summer for many students means no thought of school this situation can arise unnoticed only to become troubling when fall arrives.

Right now as always vigilance is your friend. If your student account is available on line or by phone before you got to the beach check it. You don't want any surprises come this fall.


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