This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.
Notify us in case of errors or questions about your bill. If you think your bill is wrong, or if you need more information about a transaction on your bill, write to us on a separate sheet of paper (not on your billing statement) at:
New York University
Office of the Bursar
105 East 17th Street, 3rd Floor
New York, NY 10003
We must hear from you no later than 60 days after we sent you the first bill on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. In your letter, give us the following information:
Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are not sure about.
We must acknowledge your letter within 30 days of its receipt by us, unless we have corrected the error by then (within two billing cycles and no more than 90 days). We must either correct the error or explain why we believe the bill is correct.
After we receive your letter, we cannot try to collect any amount you question or report you as delinquent. We can continue to bill for the amount in question including finance charges. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your bill that are not in question.
If we find that we made a mistake on your bill, you will not have to pay finance charges related to any questioned amount. If we did not make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date that it is due.
If you fail to pay the amount that we think you owe, we may report you as delinquent. In the event that our explanation does not satisfy you and you write to us within 10 days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your bill. We must also tell you the name of anyone we reported you to. We are obligated to tell anyone we reported you to that the matter has been resolved once everything is finally settled.
If we do not follow these rules, we cannot collect the first $50.00 of the questioned amount, even if your bill was correct.
A Finance Charge will be imposed on unpaid student accounts, from the first day of classes, until the outstanding balance is paid in full. The amount of the Finance Charge is determined by applying a periodic rate of one percent (1%) per month to the "average daily balance" of your account. The corresponding annual percentage rate is twelve percent (12%).
To get the "average daily balance," we take the beginning balance of your account (which includes any unpaid tuition and fees) each day, we add any new charges to your account, and subtract any payments or credits made to your account. This gives us the daily balance. Then we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the "average daily balance."
If the University refers any unpaid accounts for collection, you will be held responsible for all associated charges including attorney's fees of up to one-third of the balance to the full extent permitted by law.
The University reserves the right to withhold registration material and all information regarding the record of any student who is in arrears in the payment of tuition, fees, loans, or other charges (including charges for interest, housing, dining or other activities) or for as long as any arrears remain.