Returned checks are defined as those returned for insufficient funds, stopped payment, closed account and maker error. Notices are posted at each location in the Madison College District where checks are received stating, any returned check to the district will result in a $20 service fee being added to the amount owed by the maker (Administrative Policy No. 601(7)). The charge may be waived only by the controller or assistant controller. The writer of a returned, insufficient-fund check shall be notified in writing by Financial Resources as soon as possible after the check has been returned. The letter shall state that the check writer must bring cash, a cashier’s check, money order or credit/debit card payment (Visa, Mastercard or Discover) to cover the amount of the check plus the $20 check charge per returned check. If the check was written by or for a student, Financial Resources shall place a hold on the student’s Academic Record so that all grades and/or transcripts will be placed on the hold until the matter is resolved. The student shall not be allowed to register until the returned check is cleared.
If the check is not cleared within the appointed time, a second letter shall be sent by Financial Resources stating that payment must be made within 5 days. If the check is not cleared within 5 days from the date of the second collection letter, the matter may be referred to the appropriate dean's office for a code of conduct violation and/or a collection agency. When a check is returned from the bank, Financial Resources shall place the individual on the Hold Academic Records list and indicate that the individual is not allowed to pay by check. Each location where checks are accepted shall be notified of the student’s name, address, social security number (if available) or student ID number, amount of check(s), and current date. No checks shall be accepted as payment on the student’s account for a period of one year from the date the most recent returned check was paid and the academic hold is cleared with Madison College.
If questions, please contact the Finance student line at 608-259-2940.