REVOLVING CHARGE ACCOUNTS: Revolving charge accounts must follow the requirements of Oregon Administrative Rule 580-040-0041 – Revolving Charge Accounts Policy
DEPOSITS: The following items are requirements for deposits made.
- Deposits may be required for specific charges. Deposit policies shall include the following:
- Charges that require deposits.
- When deposits are used, and the order in which deposits are applied to charges.
- Expected frequency for refunding the unused portion of deposits.
REFUNDS: Refund policies shall include the following:
- Order in which credit balances are applied to different types of receivables, and the methodology for calculating the refund.
- Procedure for requesting refunds.
- Frequency for processing refunds.
Refund policies may also state that refund checks are created only for credit balances above an University determined minimal amount.
STUDENT LOANS: Administration of student loan programs shall follow the requirements of the student loan sponsor (e.g., federal government student loan programs).
- Student loans are evidenced by signed promissory notes.
- Student loans are accounted for in student loans fund type 40.