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Financial Clearance and Business Holds

 

Every Saint Xavier University student is required to receive financial clearance each semester. Financial clearance is the recognition that you have made appropriate arrangements to pay each semester's charges. If you fail to obtain financial clearance, you will be unable to obtain a valid ID card or move into the residence hall. In addition, students who do not obtain financial clearance after the first day of class each term may be assessed a $100 late clearance fee.

Ways to Obtain Financial Clearance

You will receive financial clearance when any of the following occur:

  1. Your total financial aid (minus any loan processing fees) meets or exceeds your charges for the semester. (Financial aid includes approved federal plus or alternative loans.)
  2. You are current with the Cougar Payment Plan.
  3. You pay your semester's charges in full when you receive your initial statement.

Please note that Federal Work Study (FWS) earnings do not credit your tuition bill unless you obtain employment on campus and set up payroll deduction with the Office of Human Resources. The amount that you earn from FWS is dependent upon obtaining employment on campus and the hours that you are eligible to work. You are responsible for any outstanding balance if your FWS is less than expected or your payroll deduction is not on track to cover your balance and a business hold may be placed on your account for expected amounts owed over $200.

Eligibility for, or acceptance of this financial aid award does not guarantee employment.

Business Office Holds

A business hold on your account prevents you from future registration or making any changes to your schedule. Once payment is made and your account is financially cleared the hold will be removed. Business holds are placed on the student account after the add/drop date of the semester for balances over $200.