Title: Financial Hold Policy
Procedure No: STO-40
Effective Date: 09-01-2009
Issuing Authority: Student Accounts Office
Contact: Student Accounts at email@example.com, 507-786-3296 or 866-640-4702
Last Updated: 08-17-2021
Purpose of Procedures:
To ensure that students have paid their current balance before allowing them to register, request official transcripts or receive their diploma.
Who needs to know these Procedures:
All St. Olaf College students who are registered for the current term.
The following holds will be placed on the student account based on the student account balance.
Unpaid Balance Hold
The Student Accounts Office will place registration holds on the accounts of all active students who have an outstanding balance of $1,000 or more. These holds will remain in place until the balance on the account is paid below $1,000. The hold will prevent students from registering, making changes to their current registration, accessing transcripts, or receiving their diploma. If a student will be receiving a loan to cover the balance owed, the Student Accounts Office must know the disbursement date before the hold will be removed. Completing the application alone will not remove the hold.
The Student Accounts Office will place a transcript hold on the accounts of all students who have an outstanding balance. This hold will remain in place until the balance on the account is paid below $250. The hold will prevent students from accessing transcripts, or receiving their diploma.
Tuition Collection Hold
The Student Accounts Office will place a Collection Hold on any student who leaves the college with an outstanding balance due. This hold will remain in place until the account is paid in full. This hold will prevent students from returning to St. Olaf, registering for classes, or receiving their diploma. Balance must be below $250 to accessing transcripts.
Removal of holds can only be done by the Student Accounts Office.