Financial Responsibility Agreement

By registering for classes at Monarch University or utilizing any services offered by the university, I acknowledge and agree to the following terms regarding my financial responsibilities:

1. Payment of Tuition, Fees, and Associated Costs I understand and accept that my registration for classes and/or receipt of university services constitutes a financial obligation, equivalent to a promissory note agreement as defined under the U.S. Bankruptcy Code at 11 U.S.C. §523(a)(8). This obligation represents my promise to pay all tuition, fees, and other related charges assessed by Monarch University in accordance with the published or assigned due dates. I further understand that Monarch University is extending educational services to me and deferring some or all of my payment obligations for these services.
2. Dropping/Withdrawing from Classes I understand that should I choose to drop or withdraw from one or more of my registered classes, I remain financially responsible for paying all or a portion of the tuition and fees as outlined in the university's published academic calendar. I have reviewed the policies and deadlines in the academic calendar and acknowledge that these terms are binding and incorporated into this agreement.
3. Non-Attendance Policy I acknowledge that failure to attend classes, submit assignments, or officially withdraw does not release me from my financial obligations to the university. I understand that not receiving an invoice or bill does not exempt me from my responsibility to pay any outstanding balances.
4. Changes in Class Format or Delivery I understand and accept that changes to the mode of class delivery (e.g., from in-person to online) or adjustments to the academic schedule that do not impact my ability to earn the agreed-upon academic credits will not alter my financial obligations. I further agree that such changes will not result in a reduction, refund, or cancellation of tuition or fees.
5. Communication and Billing I understand that all billing communications and notifications regarding my financial account will be sent to my official Monarch University email address and/or made available through the university's online student portal. It is my responsibility to regularly check these platforms for updates and ensure timely payment of all dues.

By continuing with my registration and enrollment at Monarch University, I accept these terms and acknowledge my financial responsibility to the institution.

Financial Hold I understand and agree that if I fail to pay my student account balance or any other financial obligations owed to Monarch University by the established due date, the university will place a financial hold on my student account. This financial hold will restrict me from performing critical actions, including, but not limited to:

• Registering for future classes
• Accessing my academic transcripts
• Receiving my diploma or certificate of completion

I acknowledge that this financial hold will remain in effect until all outstanding balances are resolved in full.

Late Payment Charge I understand and agree that if I fail to pay my student account balance or any other financial obligations by the designated due date, Monarch University reserves the right to assess late payment fees at a rate of one and one-half percent (1.5%) per month on the overdue portion of my account. These charges will accrue monthly until my account is brought to current status and paid in full.

Referral to Collection Agencies I understand and accept that if my student account becomes delinquent and I fail to make acceptable payment arrangements, Monarch University may refer my outstanding balance to a third-party collection agency. I further agree that if my account is referred for collections:

• I will be responsible for all reasonable collection costs and expenses, including, but not limited to, legal fees and administrative costs, to the extent permitted by applicable law.
• My delinquent account may be reported to national credit bureaus, which could impact my credit score and future financial opportunities.

Communication and Notification I understand that Monarch University will make reasonable efforts to contact me regarding my delinquent account through the contact information provided in my student records, including email, phone, or mail. However, I acknowledge that it is ultimately my responsibility to ensure my account is current and paid in full to avoid any penalties or collection actions.

By continuing my enrollment and participation at Monarch University, I accept these terms and the consequences outlined above should my account become delinquent.

Official Method of Communication I understand and agree that Monarch University designates email as an official method of communication with students. As such, I am responsible for regularly monitoring and promptly reading emails sent to my official Monarch University email address. Failure to check or respond to emails does not absolve me of my responsibilities or obligations as outlined in official communications.

Authorization for Communication I authorize Monarch University, its agents, and contractors to contact me regarding my student account, loan balances, outstanding obligations, or other important university-related information. This authorization includes, but is not limited to:

• Current and future phone numbers (including cellular and landline)
• Email addresses
• Wireless devices or text-enabled devices

I understand and agree that Monarch University and its agents may contact me using the following methods:

• Automated telephone dialing systems
• Artificial or pre-recorded voice messages
• Text messages
• Personal calls and emails

I further understand that I have the right to withdraw my consent to receive communications on my cellular phone. To do so, I must submit a written request to the Student Accounts Office or the contractor or agent contacting me on behalf of Monarch University.

Responsibility for Updating Contact Information I acknowledge that it is my responsibility to ensure that my contact information, including physical address, email address, and phone numbers, remains accurate and up-to-date in Monarch University records.

• I agree to update my contact information promptly by following the procedures outlined by the Registrar's Office.
• Upon leaving Monarch University for any reason, I understand that I am still responsible for providing updated contact information for the purpose of future communications, especially if I have outstanding financial obligations to the university.
• By enrolling at Monarch University, I accept these terms and agree to comply with all communication policies to ensure timely and effective communication between the university and myself.

Estimated Financial AidI understand that any financial aid labeled as "estimated" on my Financial Aid Award does not represent guaranteed payment. It is a projection of the aid I may receive if I meet all eligibility requirements and conditions set forth by the aid program.

Eligibility Based on Enrollment I understand that my Financial Aid Award is contingent upon my continued enrollment and active participation in each course that contributes to my financial aid eligibility.

• If I drop, withdraw, or fail to attend any course, I acknowledge that my financial aid eligibility may decrease, and some or all of my awarded aid may be revoked.
• I agree to repay any revoked aid that was disbursed to my account and resulted in a refund or credit balance issued to me.

Application of Financial Aid I authorize Monarch University to apply any financial aid I receive toward charges on my student account. These charges may include, but are not limited to:

• Tuition and fees
• Campus housing and meal plans
• Student health insurance
• Parking permits
• Service fees, fines, and bookstore charges

I understand that this authorization allows the university to utilize my financial aid in accordance with the terms and conditions of the respective aid program.

Federal Title IV Aid I understand that any federal Title IV financial aid I receive, with the exception of Federal Work-Study wages, will first be applied to my outstanding account balance for tuition, fees, room, and board. Federal Title IV aid includes:

• Pell Grant
• Supplemental Educational Opportunity Grant (SEOG)
• Direct Loans (Subsidized and Unsubsidized)
• Parent PLUS Loans and Graduate PLUS Loans
• Federal TEACH Grant

Any remaining funds after covering these charges may be refunded to me in accordance with university policies.

Prizes, Awards, Scholarships, and Grants I understand that any prizes, awards, scholarships, or grants awarded to me by Monarch University will be credited to my student account to offset outstanding balances. Additionally:

• I acknowledge that such financial resources are considered part of my total financial aid package under federal Title IV regulations.
• If these resources affect my eligibility for other federal or state financial aid programs (e.g., loans, grants, Federal Work-Study), any excess aid already disbursed to my account may need to be reversed and returned to the source of funding.

By accepting financial aid and enrolling at Monarch University, I agree to comply with all policies, requirements, and obligations associated with my aid package.

I understand that Monarch University may request my Social Security number (SSN) or taxpayer identification number (TIN) to comply with IRS regulations for Form 1098-T reporting purposes. If I fail to provide my SSN or TIN, I agree to cover any IRS penalties resulting from the missing information.

Monarch University offers the option to receive my 1098-T Statement electronically through a third-party service. If I do not provide consent for electronic delivery by the end of the calendar year, a paper statement will be sent to my permanent address on file. Instructions for electronic enrollment are available on the university’s website.