Installment Loan Agreement

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					                                          California Maritime Academy
                                Installment Payment Plan Agreement
Name                                                                                 ID#

Address                                                                              Phone #
                                                                                                    (Home or Cell Number)

               (Home Address)
                                         Spring 2007 Semester
Installment Plans require an initial payment equal to 25% of fees billed + $50.00 Admin Fee, due by
THURSDAY, DECEMBER 7, 2006 and then 3 equal payments for the balance. ALL installment payments are
due by the 1st of each month. A $25 late fee will be added for each payment received after the due date.
Verify your account balance on Online Services. No statements or reminders will be sent.
If you have Financial Aid awarded and accepted for Spring 2007, deduct the semester award amount from the
total balance due. The remaining balance is eligible for installment payments. Any additional Financial Aid will
be posted to the account balance, reducing future installments.

Total Fees Due per Fee Bill/Online Services                                                          $_______________
Less Awarded & Accepted Financial Aid for the semester                                         -     $_______________
Balance of Fees Due - Allowable Amount for Installment Plan                                    =     $_______________

                    Due Date                                                                               Amount Due
Deposit            12/7/2006               1/4 of balance                        +         $50.00     $
Estimated            1/1/2007              1/4 of balance                                             $
Estimated            2/1/2007              1/4 of balance                                             $
Estimated            3/1/2007              1/4 of balance                                             $

Installment amounts are estimates and may change based on enrollment or other activity affecting the student
account. Fee increases or decreases will adjust the remaining installments due. Students are responsible for
reviewing their account on Online Services to verify the amount due for the next installment payment.

This agreement is subject to the following provisions. I understand and agree that:
Payments must be received by CMA Cashier's Office by the due date. I will be subject to a late fee of $25.00 for each
late installment payment, a hold will be placed on my account preventing futher enrollment activity and privileges on my
meal card will be revoked until payment is received. I understand that if I default on the terms of the agreement, the
entire unpaid balance becomes due and payable immediately.
I will be ineligible for a future installment plan if I fail to make payments as agreed in any previous semester or any
payment is returned to CMA for any reason. I am subject to a $25.00 dishonored payment charge, plus the charges
assessed by the financial institution. If my check or E-Check is returned, I will not be allowed to make further payments
by check or E-Check.
If I fail to make payments according to the terms of this agreement, my account may be forwarded to a private collection
agency. I agree to pay the collection and legal costs associated with this action. Such costs shall not exceed 30% of the
remaining balance of my account.

Any amount I owe Cal Maritime may be reported to the Franchise Tax Board for tax offset and/or deducted from any state
lottery winnings and my account may be reported to a credit reporting agency for failure to make payments as agreed.

                 Student Signature                                                            Date

                 CMA A/R Signature                                                            Date

Description: Installment Loan Agreement document sample