Bankruptcy

Here is a hypothetical question ....

A student registers for classes with an authorization to bill a business for the cost of the student's tuition & fees. That business then files bankruptcy and lists the University as a creditor. Is the University required to write off the students tuition & fees charges?
 
If there is a paragraph on the registration form the student signs that states "... student is responsible for all costs associated with semester charges ..." - would we be required to write off the tuition & fee charges?
 
Please respond to the list. Thanks for your time.
 
Deb Brondsema
General Accounting Manager
Davenport University
 
 
 
 
 
 
Received on Tue Nov 8 09:05:47 2005