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BUSINESS OFFICE MASTER PROMISSORY NOTE DATE: ___________________________20 _________
PAYEE: Missouri Baptist University
MAKER: ________________________________________________
(Please Print Clearly-Full Legal Name)
I/We (Maker) for value received, promise to pay to Missouri Baptist University(Payee)all charges that I may incur related to tuition, fees,
fines, books and room and board while a student at Missouri Baptist University. Payment in full will occur by the close of current attending
semester so I/we are able to proceed into the next semester.
I/We (Maker) understand that all Financial Aid forms and paperwork required by the University must be completed and approved in order to
receive any Financial Aid resources including but not limited to Institutional Aid, State and Federal Grants, and Student Loans.
I/We (Maker) understand that all balances are due and payable before the first day of classes each semester. If a payment plan is approved by
the Business Office, a $35 note fee will be incurred. Defaulted balances will bear interest at the rate of 1.5 percent per month.
I/We (Maker) expressly consent to and further knowingly provide my cellular or other telephone number and any subsequent change in
contact numbers or other means of communication, including but not limited to, electronic mail at the address provided by me, to Missouri
Baptist University as a means for Missouri Baptist University, or any debt collection agency or debt collection attorney hired by Missouri
Baptist University to contact me directly or through an automated or predictive dialing system or prerecorded messaging system in an effort
to recover any unpaid portion of my obligation incurred hereunder, or as otherwise determined in the event of my default to any obligation
identified herein.
I/We (Maker) further understand that all moneys extended to me in the form of Tuition, Fees, Fines, Books and Room and Board shall be
considered an Educational Loan and may not be excused by bankruptcy.
The makers, sureties, endorsers and guarantors of this note severally waive presentment, notice of non-payment and protest, consent that the
time of payment or renewal, with or without new consideration, may be extended with notice thereof. We further agree that it may become
necessary for the University to utilize the services of a collection agency. I/We (Maker) shall then be responsible to pay all cost incurred in
the collection process of this debt including reasonable collection agency fees.
I/We (Maker) further understand and agree that failure to pay this note when due shall impound any academic credits earned and transcripts
of such credits will not be issued until such time as the note is paid in full.
The undersigned acknowledges receipt of a separate statement of disclosure required by Federal Truth and Lending Act.
(PLEASE PRINT CLEARLY)
Maker(s): ______________________________________ Maker(s) Signature: _______________________________________
Address: _______________________________________ MBU Student ID Number: __________________________________
City/State: ______________________________________ Parent/Guardian Signature: _________________________________
Zip Code: ______________________________________ (If Maker Under the Age of 18)
(PLEASE COMPLETE BELOW THIS LINE)
SEPARATE STATEMENT OF DISCLOSURES REQUIRED BY FEDERAL TRUTH IN LENDING ACT TO BE GIVEN TO MAKER(S)
OF UNSECURED PROMISSORY NOTES.
The following statement is furnished by the payee, Missouri Baptist University, with regard to a note dated ____________________ 20____
and executed by the Maker(s) ____________________________________ and payable to Missouri Baptist University. This statement
contains the disclosures in connection with the educational loan evidenced by said note which are required by the terms of the Federal Truth
in Lending Act.
This note is unsecured. This note shall immediately bear interest at the rate of 1.5 percent per month upon default and any academic credits
earned shall be impounded and a transcript of such credit will not be issued until the note is paid in full. This note also includes a provision
for the payment of all costs incurred in the collection process of this debt. A $35 fee is incurred to establish an approved payment plan.
I acknowledge receipt of a copy of this statement.
MISSOURI BAPTIST UNIVERSITY Maker Signature: ________________________________________
By: _________________________________________ Parent/Guardian Signature __________________________________
(MBU Employee Signature) (If Maker Under the Age of 18)
Rev. 6/17/16