Business Office

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 waived).

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.

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 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:

Payment Fee
Down payment plus 4 monthly payments $30
Down payment plus 3 monthly payments $35
Down payment plus 2 monthly payments $40

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 mailed.

Note: A $30.00 FACTS Returned Payment Fee will be assessed if an automatic payment is returned.

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