Fall 2013 – Summer 2014
All tuition and fees assessed by the University must be paid in full or arrangements must be made to settle the debt.
Students' accounts are considered delinquent if they are not paid in full within 60 days after the bill is issued. McGill places a financial hold on these 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, the University may require a guaranteed form of payment, for instance, a certified cheque or money order. Certain financial holds prevent the release of diplomas.
Interest: Interest is charged on overdue balances at the monthly rate of 1.24%, multiplied by the balance outstanding at the end of the month (14.88% annually). The rate is evaluated each Spring, and then is set for the following academic year.
The University has no obligation to issue any transcript of record, award any diploma, or re-register a student if you do not pay your tuition fees, library fees, residence fees, or loans by their due date.
If you register for a term but still owe amounts from previous terms, you must either pay your account or make payment arrangements with the Student Accounts Office before the end of the course add/drop period. If you have financial difficulty, first contact the Student Aid Office (Brown Student Services Building, Room 3200; 514-398-6013) to discuss the possibility of obtaining financial aid.
If you fail to pay the previous term's fees or to make arrangements to settle your debt prior to the add/drop deadline, the University will cancel your registration in the current and subsequent terms.
When students fail to settle their debt or reach a suitable payment arrangement, or fail to provide the Student Accounts Office with up-to-date contact information, the University refers these delinquent accounts to a collection agency. If 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. You should be aware that the University is entitled to use all legal means to obtain payment and that students are responsible for all costs associated with such actions.
In accordance with the fee policy stated in Other Policies Related to Fees: Overdue Accounts, before the University cancels your future term registration(s), the Student Accounts Office will make all reasonable efforts to notify you if your account is delinquent, or if you owe more than $100 from the previous term. The cancellation is effective the last day of the add/drop period unless you settle the account or make payment arrangements with the University by then. If you pay or make payment arrangements with the Student Accounts Office after the add/drop deadline and you want the University to reinstate your registration for the current or subsequent term(s), you must complete the Request for Reinstatement form (www.mcgill.ca/student-accounts/forms) and submit it to the Student Accounts Office, which will forward it to Enrolment Services for approval and processing. Your fee account will be charged $150 (Reinstatement Penalty) for the processing of the re-enrolment.