Tuition and Fee Delinquency Policy

Objective: For budgeting and accounting purposes, it is vital that all accounts be kept current.

Scope: All students in grades K through 12

Definitions:
Current: All agreed-upon tuition and fees must not fall more than 30 days behind the scheduled due date.
Agreed upon: Tuition must be paid according to the tuition contract for the current academic year. In cases of extreme hardship, special arrangements for payment may be made at the discretion of the Headmaster.

GUIDELINES

To receive any or all of the following items, all LCA accounts must be current.
Release of Records/Transcripts: Without final payment of any outstanding tuition and/or fees, LCA will not release any student records, report cards, or transcripts.
Report Cards: For students to receive report cards throughout the academic year, their account must be current. Continued enrollment: For individual students to remain enrolled for the upcoming academic year, the balance of their tuition and fees must be current.

LATE PAYMENT CHARGE

1. Late payments of tuition will be assessed a late charge of 1/4% per month after the due dates set forth in the Tuition Costs and Payments schedule.

2. Payments of fees received later than 30 days after the invoice date will be assessed a late charge of 5% per month.

3. Any applicable bank charges will be billed to the check writer for any dishonored check at the bank's prevailing rate at the time the check is returned to LCA.

4. If more than 2 checks issued are returned by a bank, credit union or other financial institution, all subsequent payments will only be accepted in the form of cash, money order or cashiers check.

TUITION PAYMENT POLICY

1. Option A: Full Payment

2. Option B*: Two Thirds/One Third (July and November)

3. Option C*: Monthly payments through an automatic withdrawal by a company called FACTS. A 6% amortized interest charge will be applied to all tuition paid within Option C. All payments must be received by June. Please understand that this will include a $46/year FACTS service charge to start the account
a. Ten Monthly Payments (July to April)
b. Twelve Monthly Payments (July to June) If 12 month payments do not begin in July, they will automatically default to the number of months between starting payments and a June end date, as we cannot allow payments for one school year to continue into the next.

*LCA reserves the right to refuse payment options B or C if timely payments have not been made in the past.

Revised Date: July 12, 2011