Semesters are billed by dividing each semester balance into minimum monthly payments. Summer semester have 3 minimum payments and Fall and Spring semesters have 4 minimum payments. Bills are run on the 15th of each month (or closest business day to the 15th if it falls on a weekend/holiday) and due the 10th of the following month. Students and Authorized Access users will receive an email notifying them of the bill.
|Minimum Monthly Payment Schedule|
|1/4||Aug 10||1/4||Jan 10||1/3||May 10|
|1/3||Sep 10||1/3||Feb 10||1/2||June 10|
|1/2||Oct 10||1/2||March 10||Full||July 10|
|Full||Nov 10||Full||April 10|
The University assesses a 1% monthly finance charge if a balance is not paid in full. The finance charge is based on the previous billed balance and will not be assessed on the currently billed charges.
Missing a Due Date
You will be assessed a $10 late fee if the required minimum payment is not met by the due date on your statement. In addition, you could be subject to the following sanctions:
- Your transcripts and diplomas may be withheld
- Inability to add classes and denial of future registration access
In addition to assessing a monthly late fee and finance charge the University will pursue all collection efforts and practices in collecting any unpaid balance. These practices include placing phone calls, mailing/emailing invoices and collection notices, utilizing the Missouri Department of Revenue’s Debt Offset Program to intercept state tax refunds, referring the account to a collection agency and having the debt reported on your credit bureau reports, and referring the balance to an attorney to pursue the balance via litigation.
If your account balance is referred to an outside collection agency your account may be assessed an additional collection fee of 30 percent of your outstanding balance. This one-time fee would be used to offset any and all costs and expenses, including reasonable attorney’s fees and collection agency commission that the University may incur in such collection efforts. The University will also assess any additional expenses incurred in collecting the debt as allowed by law.
All communications concerning disputed debts, including a check or other financial instrument tendered as full satisfaction of a debt, must be sent to:
MU Division of Finance Attn: Collections
319 Jesse Hall
Columbia, MO, 65211