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Senate Bill 1232 |
Senate Author: Zaffirini |
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Effective: 6-15-07 |
House Sponsor: Morrison |
The Education Code previously allowed a public college or university to accept payment of tuition and fees for a regular semester or a summer term through an installment payment plan, but it limited that option to three payments and specified both the date and the amount of each payment due. Senate Bill 1232 amends the Education Code to allow a public college or university to provide for the payment of tuition and fees through one or more installment payment plan options without specifying the terms of any payment plan option other than requiring the first payment to be made before the start of the semester or summer term and the last payment to be made before the last day of the semester or term. The bill requires a student who owes a balance of tuition and fees as a result of a class schedule change or who owes a balance of less than $100 after making an insufficient payment previously due to pay the balance owed not later than the next payment date under the applicable payment plan. The bill also authorizes electronic agreements for emergency loans, and it allows a college or university to charge an origination fee, rather than interest, for an emergency loan.