SEMESTER_________

TSU ROOM AND BOARD DEFERMENT CONTRACT

I, _________________________________, SSN________________________, do hereby agree to pay to Tennessee State University the amount of $______________ in three monthly installments of $_____________ by the 25th day of each month, beginning _______________________. This represents the balance of my room and board charges.

The following are understood to be provisions of the payment plan:

• All federal and state financial aid granted to a student electing the monthly payment plan will first be applied to the residence hall rental, maintenance fees, tuition, board, and other assessed fees before any amount is distributed to the student.

• A $15.00 service charge will be assessed.

• A late payment charge of $15.00 will be assessed if payment is not made by the 10th calendar day of each month after payment is due. If the tenth day falls on a weekend, payments not received by Friday are deemed late.

• The room deposit of any student participating in such program will be retained and applied against any balance due, if necessary.

• Failure to pay an installment when due may result in forfeiting the right to defer future payments.

• Failure to pay an installment when due may render this contract null and void and require immediate, full payment of all remaining charges.

• Payment of room and board installments on the due date are not contingent upon disbursement of college work study checks or any other financial disbursements.

• In keeping with Tennessee Code Annotated, section 49-9-108, diplomas, certificates of credit and grade reports will be issued only after all bets and obligations owed the University have been paid.

• If full payment is not made by the end of the semester, another room and board deferment will not be approved for one academic year.

• Student will be responsible for payment of all attorney’s fees and other reasonable collection costs and charges necessary for the collection of any amount not paid when due.

• Any default on payments may be disclosed, along with other relevant information, to collection agencies and credit bureau organizations.

I ACKNOWLEDGE THAT I HAVE READ THIS CONTRACT, UNDERSTAND ITS PROVISIONS, AND AGREE TO ABIDE BY ITS TERMS.