I hereby authorise the University of Auckland to retain on my student account maintained by the University of Auckland, any credit balance of Federal Student Aid created by changes to my enrolment, changes to the student services and amenities fee and insurance fees, or any other situation where a credit balance arises from the Federal Student Aid and that credit balance can be tied to a previous payment of Federal Students Aid from the United States Government relating to me ("Credit Balance").
The Credit Balance will be used to pay future tuition fees, the student services and amenities fee, insurance fees and/or any other school related fees in each case that I nominate in writing to the University of Auckland for the duration of the current loan period only. For this purpose, the current loan period is the period of study that this application applies to, being a maximum of two (2) semesters.
I acknowledge that if a Credit Balance is held for me and my tuition fees remain unpaid for a semester, the University of Auckland will be entitled to use the Credit Balance and to apply it to my unpaid tuition fees without my further direction. I further agree that I am responsible for ensuring that the Credit Balance is able to be lawfully applied to pay the relevant fees that I nominate to the University of Auckland. I also acknowledge that the University of Auckland will not pay any interest on the Credit Balance.
If I select “No” below, this means I elect to opt-out of this authorisation, and I understand that where I select "No" below, any Credit Balance will be refunded to my bank account at my request which must be submitted by me within 10 days of notification of funds disbursement on the Fees refund form.
I acknowledge that the University of Auckland is not permitted to hold a Credit Balance beyond the end of an academic year. If a Credit Balance arises for me and it is not applied to expenses (as contemplated above) or refunded to me, the University of Auckland may repay the Credit Balance back to the US Government.