300.2 Charge Accounts, Deposits, Refunds & Loans

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Last updated: May 21, 2021
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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.