Without fail, I promise to pay to the order of Lamar Institute of Technology the amount owed on my account, and further, I agree to the following:

• The Short-Term Loan is an official payment on your account. Should you decide not to attend LIT, you will be subject to ALL Withdrawal rules.
• All Tuition and Fees (Excluding Parking FINES and Miscellaneous Fees, etc.), plus a one-time $20 payment fee will be added together, this is the TOTAL BILL used to calculate your Short-Term Loan amount.
• The Short-Term Loan will be payable in two equal payments.
  Payment deadlines are as follows:

  Term

  Payment Date 1

  Payment Date 2

• The Short-Term Loan is not the Guaranteed Student Loan issued by the Financial Aid Office. The anticipation or pending receipt of financial aid in any form does not extend the due date of this note nor excuse full payment by the due date. Any balance remaining after Financial Aid is applied will be subject to repayment by the student and must be paid in full before student will be allowed to register for another semester.
• This obligation is considered an educational expense and will be deducted from financial aid received (as applicable) even if the due date has not yet occurred.
• You may begin paying on your Short-Term Loan at any time. Failure to repay the loan will result in the account being sent to a Collections Specialist where interest and 33.333% collection fees will be added.