Students are expected to settle their financial accounts promptly and in accordance to the schedule set forth in the catalog and in all university/student communications.  Failure on the part of the student to make satisfactory arrangements for this settlement by the due date will result in a late payment penalty; continued failure to settle the account will result in either the cancellation of the student's enrollment or the placing of a "hold" on the student's official records, and thus the student will not be permitted to register for classes, receive a diploma, or obtain transcripts until the account is cleared.  The university reserves the right to withhold its degree or diploma from any student who has outstanding financial obligations, either to the university, to student organizations or to others in the university community (including fines and charges).