As part of the University of Saskatchewan's (U of S) commitment to fiscal responsibility, the Board of Governors has approved a change in the options available to students for payment of tuition. The following changes take effect September 1, 2010:
The U of S will continue to accept MasterCard for tuition payments. Payments of tuition with MasterCard will only be accepted online. In-person credit card payments will be discontinued. A one per cent administration fee will be charged on all tuition payments made with MasterCard. The U of S will no longer accept VISA cards for tuition payments. VISA does not allow universities to charge an administration fee.
"In our business practices, we strive to balance the desire to be client-oriented with the need to be responsible with public funds entrusted to our institution, while also being conscious of what comparator institutions are doing," said Vice-President Finance and Resources Richard Florizone. "With that in mind, we looked carefully at a number of options in regards to the rising cost of accepting credit cards for tuition payments. Most Canadian universities no longer accept credit cards for tuition payments, but, with the support of the student unions, we chose to retain the option for students by implementing an administration fee to help offset the cost."
In 2009-10, the U of S paid about $900,000 to accept credit cards for the payment of tuition.
"The new administration fee will cover about half of this expense moving forward, which will allow us to redirect those savings into projects geared toward enhancing the student experience such as the university section of the Place Riel expansion which will house the Student Health and Counseling Centre," said Florizone.
The fee will only apply to tuition payments made by MasterCard. Other payment options (http://www.usask.ca/fsd/students/tuition.php) include:
Online or telephone banking Payment at a bank or ABM Payment by mail Wire transfer of funds In person by cash, cheque or debit card at Student Accounts, Administration Building
This change in payment methods applies to tuition payments only. The U of S will continue to accept both VISA and MasterCard with no administration fee for other payments including application fees, transcripts, donations and other activities such as bookstore, computer store, animal clinics and non-credit course fees through the Centre for Continuing and Distance Education.
