Delinquent Accounts - Late Payment Penalty and Interest
REG 07.55.1
Student Accounts
Authority: Vice Chancellor for Finance and Business
History: First Issued: January 2, 2002.
Additional References: University Cashier's Office Website ; North Carolina General Statutes 147-86.23
Contact Info: University Cashier's Office Director (919-515-6010)
1. Purpose:
To describe University compliance with North Carolina General Statute 147-86.23
- Interest and Penalties.
2. The State of North Carolina General Statute 147-86.23 requires state agencies,
including universities, to charge a late payment penalty and interest from
the date the charge is due until it is paid. In order to comply with this requirement, the University charges a late payment
penalty and interest charge on the unpaid balance for those accounts that
have become delinquent. A semester-related charge becomes delinquent 90 days
after the census date for that term; charges other than semester-related charges
become delinquent 90 days after being billed for the first time.
3. Additional information, including a series of Frequently Asked Questions,
can be found on the Cashier's web page.
