Paying Your Tuition and Ancillary Fees by Credit Card

In light of the recent budget cuts the University has decided to no longer accept direct payments by Credit Card. If the program was heavily utilized, it would cost well over a million dollars to maintain every year.

Despite this, however, students can still pay their fees by credit card indirectly.  The SFSS does not encourage students to go into debt to pay their tuition fees but we are aware that the majority of SFU undergraduates are part-time students (therefore, ineligible for government assistance) and that the interest rates the University charges on delinquent fees is well above most credit card rates (at 2% a month, it becomes almost 24% compounded). Furthermore, students can not register for classes if they still owe money from the previous semester or if they have not yet paid the $100 deposit in advance.

We thus recognize that some students, regrettably, will still have to use their credit cards to remain students at SFU. Below we will discuss the two ways in which this is possible:

1) Online or Telephone Banking

If your credit card is from your bank and indexed to your chequing account, then you can pay your fees the same way you'd pay any bill online. Simon Fraser University is listed as a potential payee through most banks, and the process is usually quite simple where you simply type in "Simon Fraser University" you can do the same thing on the telephone.

In order to pay your fees by Credit Card, simply choose to transfer the funds from your card to SFU. When you are asked for a bill number, type in your student id number. This will prevent delays in your payment being processed.

WARNING: Some banks choose to recognize payment this way as a CASH ADVANCE. Such advances are subject to higher interest than regular interactions and are often subject to a fee of over $2 per transaction.  Consult your banking institution before transferring any funds from your card.

2) Credit Card Cheque

Most credit card companies offer credit card cheques to their customers. If you have not received any in the mail automatically, call your credit card company and request them.

A credit card cheque works like any other cheque, but is different in that you are paying from your card and will thus not need the necessary funds to write it.

Make out the cheque to "Simon Fraser University" and to avoid delays in processing, write your student number legibly on the memo line. Once your cheque is filled out, you need only to put it in the drop box located on the main floor of the Maggie Benston Centre, immediately after student central on your right.

WARNING: Some credit companies choose to recognize payment this way as a CASH ADVANCE. Such advances are subject to higher interest than regular interactions and are often subject to a fee of over $2 per transaction. However, some companies also have lower interest rates for a brief period on credit card cheques, such as MBNA. Consult your credit card provider before writing any credit card cheque.

Hopefully, the above information was helpful and please remember that the SFSS urges you to use credit responsibility when paying for your education. It is recommended that you pay off your balance on a monthly basis, and to keep good credit, don't miss payments. Missing payments can affect your credit record making it difficult to borrow money in the future.