Student account balances are expected to be paid in full by the due date. These charges, in accordance with University of Illinois Policy, apply to all customers billed through the Student Accounts Receivable system, and are subject to a LATE PAYMENT CHARGE of $1.00 or 1.5%, whichever is greater, per month on any amount not paid when due. Such accounts will also be assessed a PENALTY of $2.00 per month IN ADDITION to the LATE PAYMENT CHARGE. A financial hold will be placed on any delinquent student account. This hold will prevent registration, release of transcripts, and may also prevent the release of a diploma.