Using Employer Letter of Credit
The University accepts an employer letter of credit (LOC) as payment for course fees. All payment and registration deadlines and procedures apply to students using a LOC as payment.
The credit organization only pays for the courses stated on the LOC. If you change your mind and enroll in another course, you cannot be reimbursed unless you file a new LOC with the Cashier’s Office for that quarter (by the first day of the quarter).
If you are not enrolled in the appropriate number of units or the courses listed on your LOC, you will not be reimbursed for the total cost of the course.
A LOC is not accepted after the first day of the quarter for payment that quarter. However, the $250 registration penalty fee will apply if the LOC is submitted after the payment deadline for the quarter.
A LOC must be signed and emailed directly to the Cashier’s Office at email@example.com. Your UCD ID number recorded in the top of the document is mandatory, as well as the number of units you intend to take if that is not already reflected on the document. Because this is a manual transaction, it requires a minimum of three business days to process once it is received at the Cashier’s Office. Once the manual credit adjustment has been made to your GSM student account, your program manager will notify you by email to proceed with registration in RaPS.
- Pay for courses
Follow the prompts. The payment screen will reflect the “temporary” credit. If there is a balance due, you must pay in order to proceed. If no balance is due, select submit. This is point where RaPS triggers your enrollment in courses. If you do not complete the process here, you are NOT enrolled.
Every LOC MUST include the following:
- UC Davis GSM (not University Extension)
- course name
- course number and CRN
- number of units
- the dates for the entire 10 week quarter (no variations)
- your UCD ID number recorded on the top of the document corner
If a LOC does not have this information, it is returned to you for corrections and therefore delays your payment. (You are subject to the $250 registration penalty fee if you submit an incomplete form and you miss the initial payment/registration deadline because corrections or additions are needed to properly process the LOC; or you make changes to your enrollment and fail to file a new LOC for the quarter by the first day of the quarter.)
SAMPLE INFORMATION FOR LOC
Institution: UC Davis Graduate School of Management
Course: MGB 292, 70797 – 3 units
Technology Mergers & Acquisitions
For courses that begin between the period of: 09/26/2013-12/13/2013
It is your responsibility to work directly with your employer’s credit organization on issues regarding LOC issues. The GSM cannot contact a credit organization on your behalf.
If your company has only recently decided to offer the benefit of paying fees using a LOC, you need to contact firstname.lastname@example.org to set up the appropriate account for your employer.