STATE UNIVERSITY OF NEW YORK
FAILURE TO PAY THE DEBT DESCRIBED IN THE ACCOMPANYING NOTICE WILL RESULT IN AN INCREASE IN YOUR LIABILITY
The invoice accompanying this notification describes a debt currently due to the University at Albany as an agency of the State of New York. Your failure to pay this debt within thirty (30) days of the initial invoice will result in an additional assessment of the Late Fees or interest charges. Receipt of your invoice is presumed to be five (5) days after mailing.
If interest is charged, it will be assessed from the date of your presumed receipt of your initial semester invoice, at the corporate underpayment rate set by the Commissioner of Taxation and Finance minus 4%. Interest will be compounded daily on the principal balance which is set forth in the accompanying invoice.
To avoid the assessment of interest or additional late payment charges, you should pay the amount requested in full by the invoice due date. In addition, should you fail to pay this debt in full within ninety (90) days of your presumed receipt of your initial semester invoice, a collection fee of up to 22% of the amount then due, including interest, may be added to the amount which you owe.
Please write your ID number on all checks or correspondence, and make checks payable to the “University at Albany”. Please advise us of any change of name or address.
STATE DEBT COLLECTION LAWS AFFECTING ALL PAST DUE DEBTS OWED TO THE STATE OF NEW YORK
Certain State laws that became effective on January 1, 1993 have granted additional enforcement powers to New York State agencies for collection of non-tax debts. These laws have augmented those codes and regulations that previously existed within the State University of New York. If you have a current or outstanding debt with the University, you are strongly urged to settle this matter now.
INTEREST OR PENALTY ON OVERDUE NON-TAX DEBT- State Finance Law §18 State agencies are authorized to assess interest or late payment penalty charges on overdue debts.
COLLECTION FEE - State Finance Law §18 – State agencies or their representatives may charge collection fees to cover the estimated costs of processing, handling and collecting delinquent debts. The amount can be as much as 22% of the outstanding debt.
AUTHORITY TO HOLD TRANSCRIPTS AND DENY REGISTRATION – Section 302.1 (f) of Chapter V, Title 8 of the Official Compilation of Codes, Rules and Regulations –No person shall receive credit or other official recognition for work completed satisfactorily, or be allowed to re-register, until all tuition, fees and all other charges authorized by State University have been paid or University student loan obligations have been satisfied.
REFERRAL OF THE DEBT TO THE TAX DEPARTMENT – State Tax Law § 171-f – State agencies are authorized to certify to the Department of Taxation and Finance that past due legally enforceable debts should be offset against any tax refunds, contracts or other State payments.
RETURNED ITEM CHARGE – State Finance Law §19 State agencies are authorized to charge a returned item fee when a check is dishonored.
If you wish to avoid these measures, you MUST make arrangements to resolve any outstanding debts as soon as possible. If you have questions regarding your debt, please contact our office at 518-442-3202.