Past due accounts are referred to the Student Debt Management (SDM) department for collection after the end of the semester and placed with a third-party collection agency after six months. Student accounts that are referred to an outside collection agency may incur collection agency costs, expenses and fees. Such collection costs, expenses and fees may include fees charged to the university by the collection agency, including percentage-based fees of up to 30% of the debt collected. Any collection costs stated above are charged in addition to the principal, fees and interest due on the student’s account. The student may be responsible for reasonable attorneys’ fees and court costs associated with collecting or enforcing payment on the past due account as allowed under Å·ÃÀ¿Ú±¬ÊÓƵ law.
Pursuant to Å·ÃÀ¿Ú±¬ÊÓƵ Revised Statutes (CRS) § 23-5-115, in the event the student defaults on the amount owed to the university, the university may certify to the Å·ÃÀ¿Ú±¬ÊÓƵ Department of Revenue information required for the recovery of past due debt.