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SPRING 2006 CHANGES: FREQUENTLY ASKED QUESTIONS Payment of Tuition and Student Accounts Receivable Charges
What is changing beginning November 1, 2005?
Why is this change being made?
Credit card processing fees are a significant and rising cost for the University. The cost of accepting credit cards is paid out of tuition and other university revenues, reducing revenue available for campus services to all students, regardless of whether or not they use a credit card to make payments. Due to the cost of accepting credit card payments and other complications, many colleges do not accept credit card payments at all. Because we cannot continue to justify paying these processing fees, ASU has considered dropping this payment option. However, we recognize that many students and families appreciate the convenience of using a credit card, and we have sought out alternatives for payment of Tuition and Student Accounts Receivable charges.
What credit cards will be accepted for Tuition and Student Accounts Receivable payments?
The University will no longer directly accept credit/debit cards for payment of Tuition and Student Accounts Receivable charges. MasterCard, Discover, and American Express credit and debit cards can be used to pay Tuition and Student Accounts Receivable charges through ASU Interactive, “Pay Your ASU Charges”, and will be processed by our third-party vendor. If you use a credit or debit card to pay Tuition or Student Accounts Receivable charges, you will be charged a 2.75% convenience fee by the vendor. You will not be charged a fee if you pay by eCheck on ASU Interactive.
How was the 2.75% convenience fee determined?
The rate was determined by our vendor. The University is not directly accepting credit or debit card payments for Tuition and Student Accounts Receivable payments; they are being accepted by our vendor who is charging a convenience fee for the service. The convenience fee is not paid to ASU and is not refundable, even if the related payment to ASU is refunded. Why is VISA no longer accepted?
VISA’s rules will not permit the vendor to charge a percentage convenience fee and would require the University to charge the same fee for eCheck payments. Are other colleges and universities making similar changes?
Colleges and universities across the country have made similar changes to their credit card payment policies. Some are choosing to not accept credit card payments and others to offer credit card payments through an outside vendor, subject to assessment of a convenience fee.
How can I pay my Tuition and Student Accounts Receivable bill?
What about the Tuition Installment Plan?
The Tuition Installment Plan remains an option for students to budget payment of their Fall and Spring semester tuition over several months and to pay tuition with multiple credit cards or from multiple bank accounts. If you choose to enroll in the Plan, tuition and fees will be billed on Student Accounts Receivable in three installments. Payment options are described in the previous question.
Can I still use a credit card to make purchases at the ASU Bookstore? Yes. The ASU Bookstore, Intercollegiate Athletics Ticket Office, and other ASU departments that currently accept credit cards will continue to do so. No convenience fee will be assessed for these payments and VISA will continue to be accepted. Only Tuition and Student Accounts Receivable payments are subject to the convenience fee.
What is an eCheck?
Rather than writing a traditional check from your checking or savings account, you can process one electronically on ASU Interactive, “Pay Your ASU Charges”, to pay Tuition and Student Accounts Receivable charges. To make an eCheck payment, you will need your bank account number and the routing number, sometimes referred to as the Transit Number or the ABA, American Banker’s Association, number. The routing number is used to identify the particular financial institution that you bank with. For checking accounts, the routing number and your account number are found at the bottom of your personal check. For savings accounts, contact your financial institution for this information.
Can I use any type of check as an eCheck?
eCheck payments can be made from regular U.S. checking and savings accounts in US dollars. Checks issued from money market accounts, credit card companies, mutual funds, brokerage accounts, home equity or other lines of credit cannot be processed as an eCheck. Personal checks will continue to be accepted by mail or in person. |