Students are expected to settle their financial accounts promptly and in accordance to the schedule set forth in the catalog and university/student communications.  Failure to make satisfactory arrangements for this settlement by the due date will result in a late payment penalty.  Any 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.  If a hold is placed on a student's official records, the student will not be permitted to register for classes, participate in room draws for on-campus housing, 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).