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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 before the end of the first week of classes each term will 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 Nelnet or 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 are not deducted from your tuition bill, unless you obtain employment on campus and elect to do so by working with the Office of Human Resources to set up payroll deduction. The funds 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 not covered through FWS if you have elected to set up payroll deduction or your deduction is not on track to cover your balance, a hold will be placed on your account.

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 making any changes to your schedule. This also includes registering for a future semester. 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.