Financial Services Policy 10.3 – Interest and Penalty Charges for Student Accounts

In accordance with State Statute 147-86.23, interest and late payment penalty will be assessed to past due accounts. For the purpose of assessment of interest and late payment penalty, a student’s account will be considered past due when the student is no longer enrolled. A one-time charge of 10% of the past due balance will be assessed as a late payment penalty to the student’s account. In addition, interest will be assessed monthly based on the current North Carolina Department of Revenue Rate until the balance is paid.