The university will exercise the right to terminate registration of any student who has an outstanding financial obligation to the university, after sufficient notice has been given to the student. A student whose registration is terminated at any time during the refund period because of nonpayment should contact student accounting immediately. The university reserves the right to "hold" transcripts and diplomas as a result of nonpayment of obligations, to forward delinquent accounts to collection agencies, and to levy a collection fee. "Holds" will be removed upon satisfaction of the obligation. The terminated student may petition for reinstatement of enrollment by satisfying the indebtedness to the university.