Grace College Credit Agreement

2. Credit Agreement

Please Read Carefully.

This Credit Agreement is binding until the account is rescinded in writing by the College. 

I, the undersigned student, and guardian (if applicable), for value received understand and agree to the following terms and conditions:

1. I am personally responsible for payment of my student account. 
2. All tuition and fees are payable in full by the designated due date, unless enrolled in the Tuition Management Services payment plan. My continued enrollment is contingent on my balance being paid in full.
3. Interest on my account will be charged each month at the rate of 1.5% (18% annually) on any unpaid balance from the previous month. (Unless contracted through Tuition Management Systems). 
4. If I do not pay my student account balance as agreed, withdrawal from the school may result and Grace College and Seminary will retain a security interest in all transcripts, diplomas, letters of recommendation, or grade reports, which shall not be released until the debt is fully paid. 
5. A fee will be charged to my student account for each returned check I issue or endorse to Grace College and Seminary. 
6. If it becomes necessary to enforce payment on my student account, I understand that my account may be turned over to a third party billing service provider and/or a collection agency and I will be held responsible for all collection agency fees, which may be based on a percentage at a maximum of 35% of the debt. 
7. I authorize the school, our third party billing service provider, and/or collection agency to contact me regarding my account, including repayment of my account, at the current or any future number that I provide for my cellular phone or other wireless device using automated telephone dialing equipment or artificial or pre-recorded voice or text messages. 
8. I certify I am at least 18 years of age as of the date of the signature of this contract. (Less than 18 require a guarantor’s signature.) 
9. If applicable, it is my responsibility to turn in the Employer Tuition Payment/Reimbursement Plan Form on an academic yearly basis. Any balance not paid by my employer is to be paid by the semester’s due date.
10. By selecting the "I Accept" button, you are signing this Agreement electronically. You agree your electronic signature is the legal equivalent of your manual signature on this Agreement. By selecting "I Accept" you consent to be legally bound by this Agreement's terms and conditions. You further agree that your use of a key pad, mouse or other device to select an item, button, icon or similar act/action, or to otherwise provide Grace College & Theological Seminary. or in accessing or making any transaction regarding any agreement, acknowledgement, consent terms, disclosures or conditions constitutes your signature (hereafter referred to as "E-Signature"), acceptance and agreement as if actually signed by you in writing. You also agree that no certification authority or other third party verification is necessary to validate your E-Signature and that the lack of such certification or third party verification will not in any way affect the enforceability of your E-Signature or any resulting contract between you and Grace College & Theological Seminary. You also represent that you are authorized to enter into this Agreement for all persons who own or are authorized to access any of your accounts and that such persons will be bound by the terms of this Agreement. You further agree that each use of your E-Signature in obtaining a Grace College & Theological Seminary Online service constitutes your agreement to be bound by the terms and conditions of the Grace College & Theological Seminary.