Redeeming Credit: Any amount of credit bearing on an account past the end of term may be redeemed as follows: a) applied to the next term for the same student, b) transferred to another student in the same account, c) applied to the payment for 6 Floating Lessons, d) kept as a credit balance for up to one year in case of possible future re-enrollment, or e) refunded if the account is closed (complete withdrawal of all family members).
Penalties: a) Except in the case of the 6-Week Introductory Period and Floating Lessons, a withdrawal fee of $25 per student will be assessed each individual student that withdraws from KMI before the end of the term; b) a drop instrument fee of $15 per instrument per student will be assessed each individual student that drops private lessons on any instrument before the end of the term, but continues another primary instrument; c) a fee of $50 will be assessed for each check that is returned by the bank as non-payable; d) a late fee of $25 will be assessed for any scheduled payment that is 5 or more days over due; e) the student will be automatically withdrawn if any scheduled payment is 15 days over due, with all withdrawal fees (per student) also assessed. Payment in full for the term, plus any penalty fees and interest will be required before the student is placed back on the schedule. Scheduling will be based upon calendar availability at the time the account is paid in full.
Inactive Accounts: a) any open account with a credit balance that has been inactive (no lessons) for one calendar year will be closed, withdrawal fees charged and the account bearer will be issued a refund check by mail for any redeemable credit balance; b) if an inactive account is closed for a student who has paid for Floating or Supplementary Lessons, the tuition is non-refundable and no refund is due; c) any open account with a balance due will be billed monthly and an interest charge of 1.5% per month will be assessed. Any account that is delinquent for more than 6 months will be sent to a collection agency.