Interest Charges

Starting from the 2016 Fall Term, overdue accounts are subject to late payment interest charges as described:

  • Late fees of 1.25% (16.08% effective annual rate) will be charged monthly on outstanding tuition fee balances, beginning the first of the month after the applicable term payment due deadline date.
  • Daily interest will be assessed for each day that your payment is late. Interest will continue to accrue on unpaid daily balances and be charged on a monthly basis.
  • Interest charges will appear on your student account on the first day of the month following the interest assessment. Example: October's interest charges will show up on your account on November 1st.
  • If you are making your payment through your bank, please allow sufficient time of 2-3 business days ahead of the deadline to ensure that your payment is received and credited to your account.

Interest Rates for 2017/2018 Academic Year

  Fall 2017
Winter 2018
Interest rate:
1.25% compounded monthly
1.25% compounded monthly
Calculation method:
Daily Assessed/Monthly Charged
Daily Assessed/Monthly Charged
30 days cost/$1000:
Interest charges begin to accrue:
October 1, 2017 
February 1, 2018