Financial Responsibility Agreement

As part of the registration process, all students must agree to and sign a copy of the Financial Responsibility Agreement. The Financial Responsibility Agreement is an acknowledgement of debt that is incurred when conducting registration activity. Regardless of how or when a student becomes registered for coursework, it is understood they will agree to the financial terms and conditions found here.

I understand when registering for any class or receiving any service from Ozarks Technical Community College, I accept full responsibility to pay all tuition, fees, and other associated costs assessed.

I understand my registration and acceptance of the terms of this Financial Responsibility Agreement constitutes a promissory note agreement (i.e., a financial obligation in the form of an educational loan as defined by the U.S. Bankruptcy Code at 11 U.S.C. §523(a)(8)) in which Ozarks Technical Community College is providing me educational services, deferring some or all of my payment obligation for those services, and I promise to pay for all assessed tuition, fees and other associated costs in full by the published or assigned due date each semester.

I understand if any payment made to my student account is returned to OTC for any reason, I will repay the original amount of the payment plus a returned payment fee.

I understand if I drop or withdraw from some or all of my registered classes, including administrative withdrawal, I will be responsible for paying all or a portion of tuition, fees and other associated costs in accordance with the published tuition refund schedule located on the official college website.

I understand my failure to pay for tuition, fees and other associated costs past the deadline date or failure to receive financial aid does not automatically withdraw me from my classes at OTC and does not cancel my student account. I am responsible for all balances owed to the college.

I understand if I have an outstanding balance due to the college, a financial hold will be placed on my student account, and I will be unable to register/maintain enrollment in future courses.

I understand if my student account balance for the semester is not paid in full by the scheduled due date, the outstanding balance remaining unpaid may be assessed up to a 35% collection fee and reported to appropriate collection agencies. The balance is also reported to the Missouri Department of Revenue to be included in their Debt Offset Program.

I understand electronic billing is the official method of billing at OTC. Monthly statements are issued online to my student account. An email is sent to my OTC email address notifying me of statement availability.

I understand OTC email is the official method of communication with students, and I am responsible for reading the e-mails I receive on a timely basis. Actions and charges that result from failure to pay charges on time or to respond to a message from Student Accounts regarding my student account are my responsibility. If email communication is deemed unsuccessful or the information communicated is of high importance or urgency, other methods of communication may be used.

I understand my agreement to this Financial Responsibility Agreement authorizes Student Accounts to utilize any and all physical addresses, electronic addresses, and phone numbers when attempting to contact me in regards to financial information. I also agree OTC may disclose all my contact information, along with other relevant information, to any outside collection agency used for the collection of my outstanding balance.

I understand if a sponsor is paying my student account balance, OTC will release account information directly to the sponsor.

I understand that I am responsible for keeping OTC records up to date with my current physical addresses, email address(es), and phone numbers by following the instructions provided on the OTC website. Upon leaving OTC for any reason, it is my responsibility to provide updated contact information for purposes of continued communication regarding any amounts that remain due to the college.

I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to OTC upon request as required by Internal Revenue Service (IRS) regulations for Form 1098-T reporting purposes.  If I fail to do so, I agree to pay any and all IRS fines assessed as a result of my missing SSN/TIN.

I consent to receive my annual IRS Form 1098-T, Tuition Statement, electronically from OTC.  I understand that if I do not consent to receive my Form 1098-T electronically, a paper copy will be provided.  I understand that I can withdraw this consent or request a paper copy by following the instructions at the OTC website.

I understand and agree that if I am younger than the age of majority when I execute this agreement that the educational services provided by OTC are a necessity, and I am contractually obligated pursuant to the “doctrine of necessaries.”