KENTUCKY STATE UNIVERSITY POLICIES AND PROCEDURES
POLICY TITLE: Collections Policy
VOLUME, SECTION & NUMBER: 4.1.19
ENTITIES AFFECTED: Students
ADMINISTRATIVE AUTHORITY: Department of Finance & Business Affairs
The Kentucky State University Board of Regents
EFFECTIVE DATE: November 28, 2023
Students at Kentucky State University are responsible for settling all incurred charges on or before any specified deadlines. This policy aims to outline the precise course of action for addressing unresolved student account balances. It is imperative for every student to understand their charges and fulfill their financial responsibilities in a timely manner. While the University understands that many students receive financial assistance from external sources, including federal financial aid, it is nevertheless essential to emphasize that any financial liability ultimately rests with each student.
Students are obligated to completely clear their account balances on or before the designated semester due dates, regardless of whether they have received a statement notification. Students will be required to sign and initial a “Statement of Student Financial Responsibility” at the start of each semester. Students who do not meet financial aid requirements, or who are unable to pay the entire balance by the published deadlines, must enroll in a payment plan with the University. The University currently offers a payment plan through CashNet, which is interest-free but requires a processing fee of $35 per semester.