Student Credit Agreement
This Student Credit Agreement ("Agreement") is made and entered into by and between the undersigned student ("Student") and the educational institution ("Institution"). The purpose of this Agreement is to outline the terms and conditions under which credit will be extended to the Student for their educational expenses.
Definitions
1. Student
The term "Student" refers to the individual enrolled in the Institution, who is entering into this Agreement for the purpose of obtaining credit.
2. Institution
The term "Institution" refers to the educational entity providing educational services to the Student and extending credit for such services.
Agreement Terms
3. Credit Provision
The Institution agrees to extend credit to the Student for the sole purpose of financing their tuition, fees, and other related educational costs. The total amount of credit provided will be determined based on the Student’s enrollment and estimated costs.
4. Repayment
The Student agrees to repay the credit amount in accordance with the repayment schedule agreed upon by both parties. The terms of repayment will be specified, including the amount of each payment, the due date, and any applicable interest rate.
5. Interest and Fees
Any interest rates or fees applicable to the extended credit will be detailed in the repayment schedule. The Student agrees to pay these interest rates and fees as part of their repayment obligations.
6. Default
In the event of default by the Student, the Institution reserves the right to take necessary actions to recover the owed amounts. This may include, but is not limited to, legal proceedings or the use of collection agencies.
7. Compliance with Policies
The Student agrees to comply with all institutional policies related to financial obligations and credit usage. This Agreement is subject to any general policies and conditions set forth by the Institution regarding student credits and payments.
Miscellaneous
8. Amendments
Any amendments to this Agreement must be in writing and signed by both parties. Verbal agreements or modifications are not considered valid or binding.
9. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the state in which the Institution is located.
10. Severability
If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable.
Signatures
By signing below, both parties acknowledge that they have read, understood, and agreed to the terms and conditions of this Student Credit Agreement.
Party A:
Party B:
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