All tuition and fees assessed by the University must be paid in full. Arrangements must be made to settle any debt accrued.
Student accounts are considered delinquent if they are not paid in full within 60 days after a bill is issued. A financial hold will be placed on delinquent accounts, preventing students from obtaining official academic transcripts and from accessing Minerva for any registration functions. In the event that a student's account has a hold preventing registration or the release of transcripts, a Student Accounts Manager may require a guaranteed form of payment, for instance, a certified cheque or money order. Certain financial holds prevent the release of diploma.
Interest: Interest is charged each month on overdue balances. An overdue balance is one where charges have been billed on a previous statement and have not been paid in full by the due date. On the date when interest is charged (typically 2-3 days following the due date), the overdue balance is then multiplied by 1.24% (14.88% per annum). The rate is evaluated each Spring, at which time it is set for the following academic year.
Example:
| Date | Description | Amount |
|---|---|---|
| January 5 | January e-bill | $ 1,000.00 |
| January 31 | Due Date | |
| February 2 | No payment is received | |
| February 2 | Interest is charged ($1,000 * 1.24%) | $ 12.40 |
| February 3 | February e-bill: Previous Billed Balance Interest of February 2 Total Balance: |
$ 1,000.00 $ 12.40 $ 1,012.40 |
Late Payment Fee:
Students who still have an outstanding balance as of the October payment deadline for Fall term, or for the end of February for the Winter term will be charged a late payment charge in addition to interest as follows:
| Outstanding Balance | October/February |
|---|---|
| $100 - $300 | $25 |
| $300.01 – $1,000 | $50 |
| $1,000 and over | $75 |
When a student has a student aid deferral, government aid deferral, or graduate funding deferral that has ended, their next e-bill will show that there is no longer a deferral in effect. Should the balance not be paid in full by the payment due date on this bill, in addition to interest the late penalty fee will be charged.
Students are advised to regularly verify their account balance via Minerva.
The University has no obligation to issue any transcript of record, award any diploma, or re-register a student in the case of non-payment of tuition fees, library fees, residence fees or loans on their due date.
Information for Registered Students
Students who have registered in a given term and who have amounts owing from previous terms must either pay their accounts or make payment arrangements with the Student Accounts Office before the end of the course add/drop period. Students in financial difficulty should first consult the Scholarships and Student Aid Office (Brown Student Services Building, Room 3200; (514) 398-6013) to discuss the possibility of obtaining financial aid.
Failure to pay the previous term’s fees or to make arrangements to settle the debt prior to the add/drop deadline will lead to cancellation of registration in the current and subsequent terms.
Information for Students who are no Longer Registered
The delinquent accounts of students who fail to settle their debt or reach a suitable arrangement and of students who fail to provide the Student Accounts Office with up-to-date contact information, will be referred to a collection agency. Where neither the University nor the collection agency is able to collect on the account, the University reserves the right to have the student reported to a credit bureau. Students should be aware that the University is entitled to use all legal means to obtain payment and that students will be responsible for all costs associated with such actions. No longer registered students who would like to make a payment arrangement or have any questions regarding their account, can contact the Student Accounts Office at collectionadmin.finserv [at] mcgill.ca.
Cancelling Registration for Non-Payment
In accordance with the fee policy as stated in the section "Overdue Accounts":
The Student Accounts Office will make all reasonable efforts to notify students with a delinquent student account, and who have more than $100 outstanding from the previous term, that their registration will be cancelled for non-payment. The cancellation will be made effective the last day of the drop/add period unless the account has been settled or payment arrangements have been made with the University by then. After the add/drop deadline, students who pay or make payment arrangements with the Student Accounts Office and who want to confirm that their registration for the current or subsequent term(s) should be re-instated must complete the request for reinstatement form and submit it to the Student Accounts Office, which will forward it to the Registrar’s Office for approval and processing. Your fee account will be charged $150 (Reinstatement Penalty) for processing of the re-enrollment.