Outside Collection Agency Policy
If internal collection efforts have been unsuccessful at any point in time, the student’s account will be referred to an outside collection agency at which time, the student will become responsible for the principal balance due to the Corcoran, as well as additional fees charged by the outside collections agency. Collections fees are 25–35% of the principal balance. Additionally, the student will be responsible for any incurred legal fees and court costs. Once a balance has been placed with an outside collections agency, the student and/or parent(s) will have their credit reported.