All charges are expected to be paid by the due date on the Registration Statement. Amounts not paid or credited at registration are subject to finance charges. Finance charges are computed on the average daily balance at an Annual Percentage Rate of 16.0%.
In the event of non-payment when due of any outstanding balances, the University of Miami may declare due and payable at once the sum of the outstanding balance. In addition, the student will be responsible for finance charges accrued on all past-due and unpaid amounts, at the maximum rate permitted by law and any and all costs incurred by the University of Miami in enforcing its rights. The University reserves the right to withhold transcripts, diplomas, re-admittance, and future registrations for non-payment of outstanding balance. The University may also disclose the student's outstanding indebtedness, along with other relevant information, to credit information bureaus.