Policies & Procedures

I. PURPOSE

The purpose of this policy is to establish a payment procedure to satisfy returned items, either paper checks or ACH drafts.

II. POLICY

Longwood University accepts paper checks and electronic ACH bank drafts for account payments. These payment methods will not be accepted on accounts that reflect three returned items.

Redemption of any returned item will be by cash, cashier's check, or money order. Additionally, a returned payment item that was made on a student account may be redeemed using a debit or credit card. A service fee will be applied to all returned items in order to cover the University's cost of processing the returned item, including bank charges.

Upon notification of the return, a hold flag will be placed on the student account to prevent future registration and acquiring official transcripts. Any amounts not satisfied will be referred to a collection agency, and collection fees will be added. Any amount not satisfied may be reported to the credit bureau, and may be listed with the Virginia Department of Taxation. Listing with the Department of Taxation may result in the seizure of funds due from the Commonwealth, such as a tax refund or lottery claim.

Revised and approved by the Board of Visitors, September 7, 2002.
Revised and approved by the Board of Visitors, December 10, 2005.
Revised and approved by the Board of Visitors, December 03, 2010.
Revised and approved by the Board of Visitors, December 02, 2011.