Financial Responsibility Agreement
Last updated: July 2021
As a student, this is an agreement you make with Stanford inside the student payment system. For convenience, the full text of the agreement is provided below.
PAYMENT OF FEES/PROMISE TO PAY
I understand that when I register for any class at Stanford University or receive any service from Stanford University I accept full responsibility to pay all tuition, fees and other associated costs assessed as a result of my registration and/or receipt of services. I further understand and agree that my registration and acceptance of these terms 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 Stanford University 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 by the published or assigned due date.)
I understand and agree that if I drop or withdraw from some or all of the classes for which I register, I will be responsible for paying all or a portion of tuition and fees in accordance with the published tuition refund schedule on the Student Services website at https://studentservices.stanford.edu/my-finances/refunds-and-direct-deposits/tuition-refund-schedule. I have read the terms and conditions of the published tuition refund schedule and understand those terms are incorporated herein by reference. I further understand that my failure to attend class or receive a bill does not absolve me of my financial responsibility as described above.
Financial Hold: I understand and agree that if I fail to pay my student account bill or any monies due and owing Stanford University by the scheduled due date, Stanford University will place a financial hold on my student account, preventing me from registering for future classes or receiving my diploma.
Late Payment Charge: I understand and agree that if I fail to pay my student account bill or any monies due and owing Stanford University by the scheduled due date, Stanford University will assess late payment and/or finance charges at the rate of 1.00% per month on the past due portion of my student account until my past due account is paid in full.
Method of Communication: I understand and agree that Stanford University uses email as an official method of communication with me, and that therefore I am responsible for reading the emails I receive from Stanford University on a timely basis.
Contact: I authorize Stanford University and its agents, contractors, and affiliates to contact me at my current and any future cellular phone number(s), email address(es) or wireless device(s) regarding my delinquent student account(s)/loan(s), any other debt I owe to Stanford University, or to receive general information from Stanford University. I authorize Stanford University and its agents and contractors to use automated telephone dialing equipment, artificial or prerecorded voice or text messages, and personal calls and emails, in their efforts to contact me. Furthermore, I understand that I may withdraw my consent to call my cellular telephone using automated telephone dialing equipment by submitting my request in writing to email@example.com or in writing to the applicable contractor or agent contacting me on behalf of Stanford University.
Updating Contact Information: I understand and agree that I am responsible for keeping Stanford University records up to date with my current physical addresses, email addresses, and phone numbers by following the procedure at Axess. The linked procedure is incorporated herein by reference. Upon leaving Stanford University for any reason, it is my responsibility to provide Stanford University with updated contact information for purposes of continued communication regarding any amounts that remain due and owing to Stanford University.
METHOD OF BILLING
I understand that Stanford University uses electronic billing (e-bill) as its official billing method, and therefore I am responsible for viewing and paying my student account e-bill by the scheduled due date. I further understand that failure to review my e-bill does not constitute a valid reason for not paying my bill on time. E-bill information is available on the Student Financial Services website at https://studentservices.stanford.edu/my-finances/understand-your-student-bill-and-payment-system.
I understand that administrative, clerical, or technical billing errors do not absolve me of my financial responsibility to pay the correct amount of tuition, fees, and other associated financial obligations assessed as a result of my registration at Stanford University.
RETURNED PAYMENTS/FAILED PAYMENT AGREEMENTS
If a payment made to my student account is returned by the bank for any reason, I agree to repay the original amount of the payment plus a returned payment fee of $25.00. I understand that multiple returned payments and/or failure to comply with the terms of any payment plan or agreement I sign with Stanford University may result in suspension of my eligibility to register for future classes at Stanford University.
If I decide to completely withdraw from Stanford University, I will follow the instructions on the Student Services website at https://studentservices.stanford.edu/more-resources/forms-processes, which I understand and agree are incorporated herein by reference.
PRIVACY RIGHTS & RESPONSIBILITIES
I understand that Stanford University is bound by the Family Educational Rights and Privacy Act (FERPA) which generally prohibits Stanford University from releasing any personally identifiable information from my education record without my written permission. Additional information about this policy may be found on the Student Services website at https://studentservices.stanford.edu/my-information/student-records-ferpa.
IRS FORM 1098-T
I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to Stanford University upon request as required by Internal Revenue Service (IRS) regulations for Form 1098-T reporting purposes. If I fail to provide my SSN or TIN to Stanford University, 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 Stanford University. 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 https://studentservices.stanford.edu/my-finances/1098-t-tax-overview-and-faqs.
This agreement supersedes all prior understandings, representations, negotiations and correspondence between the student and Stanford University, constitutes the entire agreement between the parties with respect to the matters described, and shall not be modified or affected by any course of dealing or course of performance. This agreement may be modified by Stanford University if the modification is signed by me. Any modification is specifically limited to those policies and/or terms addressed in the modification.