Nelnet Business Solutions Terms & Conditions
AUTHORIZATION : TIP
is administered for Valencia College (Institution) by
Nelnet Business Solutions of Lincoln , NE. Nelnet has contracted
with the Institution to act as its agent for the collection of tuition
and/or fees. As the Responsible Party who has submitted this agreement,
you accept and agree to be bound by the agreement's terms and conditions
until the total amount owed is paid in full. Additionally, you authorize
Nelnet to process payments and fees from the account provided or
any subsequent account provided. Your authorization will terminate
when the total balance due has been paid (including fees, unless
DOWN AND FULL PAYMENTS :
If you elect to make a down payment, that payment will be processed
by Nelnet immediately according to the payment
method you have selected. Should your down payment fail, Nelnet
will notify you that your agreement has been terminated. You will
be instructed to re-enroll through Nelnet or make payment arrangements
directly with your community college.
ENROLLMENT FEE :
The nonrefundable enrollment fee will be deducted from the account
provided within 14 days of the agreement being posted to the Nelnet
system. The nonrefundable enrollment fee is based upon the number
of payments selected for each Nelnet agreement period. If the entire
balance due is not paid within the agreement period or twelve (12)
months, whichever period is shorter, an agreement is in renewal.
On the renewal date of such an agreement, Nelnet may assess a new
enrollment fee. Fees are subject to change in future academic years.
The nonrefundable enrollment fee(s) applicable to this agreement
is (are) shown at the bottom of this page.
RETURNED PAYMENTS : In the event that your financial
institution returns a monthly payment, a $25 returned payment fee
will be automatically deducted from the account provided within
20 days. A returned payment fee will be assessed for each payment
attempt that is returned. If any fees are returned, they will be
reattempted. Fees are subject to change in future academic years.
PAYMENT METHOD : If you wish to change from a
checking or savings account to a credit card, or vice versa, you
will need to complete a new agreement and an additional nonrefundable
enrollment fee will be automatically deducted.
PAYMENT DATES : If
your payment date falls on a weekend or a banking holiday observed
by the Federal Reserve, the payment will be attempted on the next
business day. Although Nelnet specifies the date each payment will
occur, your financial institution determines the time of day the
payment is debited to the account.
CUSTODIAL ACCOUNT :
Collected funds shall be held by Nelnet as your agent until remitted
to the Institution. Depending upon the institution's policy, payments
returned by your financial institution will be automatically reattempted.
Refunds of any money paid to Nelnet, except for any applicable fees,
will be handled by the Institution according to its refund policy.
Interest earned on custodial funds is payable to Nelnet.
CHANGES TO AGREEMENTS :
A. You may make changes to the information
you provided in this agreement by contacting the Institution. The
timely application of changes depends on when they are received
by Nelnet; Nelnet may refuse to apply changes prior to the next
scheduled payment date if Nelnet determines, for whatever reason,
that it does not have sufficient time to act on them. In the event
that you authorize additional services from the Institution, or
in the event that additional fees are assessed by the Institution
in accordance with its policies, you understand that the total balance
due and/or payment amount will change. You agree that your authorization
of any such change shall constitute your authorization to change
the payment amount, and/or to continue payments until the total
balance due is paid in full. If you, as the Responsible Party, are
not the student, you authorize the student to make changes to his
or her schedule or activities and agree to be bound by any such
changes. You do not require Nelnet or the Institution to send advance
notice of any adjustments resulting from any such changed authorization,
which includes any reduction in the balance due and/or payment as
a result of financial aid, or any other similar cause. However,
a copy of any such changed authorization is to be provided to you
by the Institution.
B. If there will be any change in the preauthorized payment amount
other than a change made by you, as described above, the Institution
will give you notice of such changed payment amount at least ten
(10) days in advance of the next scheduled payment.
C. You may revoke your authorization
by sending Nelnet a signed, written notification or an e-mail; upon
receipt, Nelnet will immediately terminate your agreement. However,
terminating your agreement with Nelnet in no way affects your obligation
to pay Nelnet, and you will be charged another nonrefundable enrollment
fee if you need to begin a new agreement.
CONFIRMATION : Any
and all inconsistencies in the information provided will be resolved
in the confirmation notification sent to you from Nelnet. Changes
made by the Institution that are received by Nelnet before the notification
is sent may also be included. In either event, the confirmation
notification shall be controlling.
DISCLOSURE : Nelnet guarantees remittance of tuition and/or
fees it collects from you. Nelnet reserves the right to terminate
this agreement at any time if you are not current on payments or
fees due Nelnet. If Nelnet exercises this right, the student on
this agreement may be dropped from class(es). Failure to pay any
debt to Nelnet could also result in holds being placed on transcript
requests, registration for subsequent academic terms, and graduation.
If this agreement is terminated for any reason, money collected
prior to termination (if any) will be remitted to the Institution,
less any fees due Nelnet. Refunds, if any, will be handled by the
Institution and will not be issued until 60 days after the last
day of the add-and-drop period. As noted above, enrollment fees
and returned payment fees are nonrefundable. If this agreement is
terminated, Nelnet will attempt to notify you immediately via the
e-mail address Nelnet has on file. If the e-mail address is invalid,
a letter will be mailed.
GOVERNING LAW : You
acknowledge that the origination of ACH transactions to your account
must comply with the provisions of U.S. law. This agreement shall
be governed by the laws of the State of Nebraska . The District
Court of Lancaster County, NE, shall be the sole venue for filing
any action. This agreement should in no way be construed to be a
lender-borrower agreement between Nelnet and the Institution or
Nelnet and you.
Arbitration: Upon the demand of you
or Nelnet, any dispute concerning the parties' duties or liabilities
under this agreement shall be resolved by binding arbitration in
accordance with the terms of this agreement. Arbitration proceedings
shall be administered by the American Arbitration Association ("AAA")
or such other administrator as the parties shall mutually agree
upon in accordance with the AAA Commercial Arbitration Rules. All
disputes submitted to arbitration shall be resolved in accordance
with the Federal Arbitration Act (Title 9 of the United States Code),
notwithstanding any conflicting choice of law provision. The arbitration
shall be conducted at a location in Lincoln , Nebraska selected
by the AAA or other administrator. All statutes of limitation applicable
to any dispute shall apply to any arbitration proceeding. All discovery
activities shall be expressly limited to matters directly relevant
to the dispute being arbitrated. Judgment upon any award rendered
in arbitration may be entered in any court having jurisdiction.
Notice of Privacy Statement : Nelnet acts as agent for institutions in administering
their payment plans. In the course of providing payment plan services
for these institutions, Nelnet receives personal and financial information
from their customers. It is the policy of Nelnet and its subsidiaries
to protect all information provided to us by all participants in
the Nelnet payment plans. From time to time Nelnet may share this
information with you and with the institution for which it is acting
as an agent. Nelnet does not sell or share any nonpublic personal
information or client lists to any third party, except as agreed
to by you, or as may be necessary to complete a transaction in the
ordinary course of business, or as required under an applicable
law. To protect the information from access by unauthorized parties,
Nelnet maintains physical, procedural, and electronic safeguards.
SPECIAL NOTICE REGARDING FINANCIAL
AID : Please do not assume your balance will automatically
be adjusted if you receive financial aid or a class is added or
dropped. You should review your agreement balance online through
My Nelnet Account or the Institution's website, if applicable, to
confirm the change.
The nonrefundable enrollment fee to
budget payment(s) through Nelnet:
|Down payment plus 4 monthly payments
|Down payment plus 3 monthly payments
|Down payment plus 2 monthly payments
The enrollment fee will be attempted within 14 days.
REFUND/TERMINATION DISCLOSURE : Nelnet guarantees remittance of tuition and/or fees it
collects from you. Nelnet reserves the right to terminate this agreement
at any time if you are not current on payments or fees due Nelnet.
If Nelnet exercises this right, the student on this agreement may
be dropped from class(es). Failure to pay any debt to Nelnet could
also result in holds being placed on transcript requests, registration
for subsequent academic terms, and graduation. If this agreement
is terminated for any reason, money collected prior to termination
(if any) will be remitted to the Institution, less any fees due
Nelnet. Refunds, if any, will be handled by the Institution and
will not be issued until 60 days after the last day of the add-and-drop
period. As noted above, enrollment fees and returned payment fees
are nonrefundable. If this agreement is terminated, Nelnet will
attempt to notify you immediately via the e-mail address Nelnet
has on file. If the e-mail address is invalid, a letter will be
Note: A $30.00 FACTS Returned Payment
Fee will be assessed if an automatic payment is returned.