Returned Checks, Charge Backs, and Payment Plan Delinquency

Statement of Policy

Excelsior College accepts student payments in the form of cash, check, MasterCard, Visa, AMEX, and Discover. When checks are returned from a bank unpaid, or a charge back notice is received from a credit card company, it is the policy of the Bursar’s Office to collect the delinquent payments. The Assistant Bursar handles charge backs. A Student Accounting Specialist handles returned checks.

Procedure

A. Bad Check Processing

The bank notifies the Finance Office of any unpaid (returned) checks or electronic checks received on the Excelsior College account. The Finance Office notifies the student in writing, about the unpaid check. A 30 day time period is allowed for a student to replace a returned check. A hold is placed on the student’s account and all services are suspended during this time period.

Students who have a returned check for payment of a course may continue in the course. A hold will be placed on their student records, which will prohibit them from receiving a course grade or transcript until the returned check and the returned check fee are replaced.

When a returned check is received an entry is made in the student’s Student Information System (SIS) record. The returned check fee, using AR codes BC (Bad Check) and BCC (Bad Check Charge), is assessed.

Once payment for a returned check has been received in the form of a certified check, cashier’s check, money order, or an active authorized credit card (MasterCard, Visa, AMEX, or Discover), the Bursar’s Office will post it to the student’s account and remove the hold that was placed on it.

B. Charge Card Charge Back Processing

Paymentech requests information from Excelsior College when credit card charges are questioned by a student.

Copies of all pertinent information regarding the charge are sent to Paymentech to defend the position of Excelsior College.

The information provided to Paymentech is consistent with FERPA policies.

Paymentech will make a decision about the credit card charge and notify Excelsior College.

The Bursar’s Office staff will make appropriate adjustments to the student account in a timely manner.

C. Payment Plan Delinquency

A student whose initial Nelnet payment fails will not be enrolled in Excelsior College, or registered for an Excelsior College course, exam, or performance exam.

Beginning on June 15, 2020 students will be able to select one of 3 different payment dates: the 5th, the 15th or the 25th.  Previously, students had only two payment dates, the 5th or the 20th.

When a payment plan is active (the set up fee and initial payment are successful), but a subsequent payment fails, the payment will be reattempted approximately 15 days later:

  • Failed payments on the 5th of the month will be reattempted on the 20th
  • Failed payments on the 15th of the month will be reattempted on the last day of the month
  • Failed payments on the 25th will be reattempted on the 10th of the following month

If the third attempt fails, the payment plan will be terminated; the student will then be responsible for the remaining balance of the payment plan agreement to either be paid in full or to contact the Bursars office to plan for a new agreement by invitation only.

Students whose payment plans have failed will have a “FS_PMT_PLN – Fiscal Hold – Payment Plan Block” flag placed on their account. This flag will not allow new payment plans to be set up. When the payment plan balance has been met, this block can be removed. The Bursars Office reserves the right to keep the block in place for those students that have had more than one payment plan failure.

Students that are withdrawn from the Nelnet payment plan for the Multi-Source Fee will be withdrawn from Excelsior College with a code of WF. Their account will be adjusted to waive two thirds of the total enrollment fee, if the student has not received an evaluation. Students receiving an evaluation will have 30 days to pay the entire balance in full. If payment in full is not received within 3 months of their withdrawal, their account will be turned over to a collection agency.

Students that are withdrawn from the Nelnet payment plan for the Student Service Annual Fee (SSAF) will be withdrawn from the College with a code of WP. They will have 30 days to pay the entire balance due for the SSAF. Students who fail to pay the balance due for the SSAF within 30 days, will have 3 months from the date of their withdrawal to pay the balance due for the SSAF, plus the current Reactivation Fee. If the three month time frame is not met, the student will forfeit whatever payments they have made toward the SSAF, and will be required to re-enroll.

Students that are withdrawn from the Nelnet payment plan for an Excelsior College course will be allowed to remain in the course, but will not receive a course grade or transcript for the course until the balance is paid in full. Exception: Excelsior College will provide transcripts to those students who reside in States that have passed laws requiring us to do so.

Students that are withdrawn from the Nelnet payment plan for an Excelsior College® Examination will be given 30 days to pay the entire balance due for the exam fee. If the balance is not received within 30 days they will forfeit any payments made toward the exam. Please note that students using the Nelnet payment plan are not registered for an exam until the exam fee is paid in full.

Students that are withdrawn from the Nelnet payment plan for the Clinical Performance in Nursing Exam (CPNE®) are notified that they will lose their CPNE exam date if the balance due is not paid within 30 days of being notified of the failed payment plan.