Online Bill/ Credit Card Convenience Fees FAQ
Why are bills only available online?
In an effort to "go green" and reduce costs, beginning August 2, 2010, the University will no longer mail paper bills. This initiative will have a positive impact on the sustainability posture of the university and reduce operating costs. In addition, postcards are being mailed to students enrolled for the Fall 2010 semester in June, August and September, 2010 reminding them of the elimination of paper bills. We anticipate this being a one-time expense as we move to a totally paperless system."
Why did VCU decide to change the credit card payment options for tuition and fees?
VCU has been paying the merchant’s fee charged by our credit card processor (generally around 2.75%) on every credit card transaction. That has cost VCU approximately $1.3 million a year. The bulk of these charges are for tuition and fees credit card payments. With all the budget cuts, VCU cannot continue to pay these costs. VCU had considered dropping the credit card payment option altogether; however, we recognize that many students and families appreciate the convenience of using a credit card. Therefore, we are letting the people who benefit from the convenience of the use of the credit card, pay that fee to the credit card processor for tuition and fees.
What credit cards will be accepted for payment of tuition and fees?
The Student Billing and Payment web site links to the credit card processor, TouchNet, to process MasterCard, American Express and Discover Card payments. If you choose to use a credit card to pay your bill, you will be assessed a convenience fee by TouchNet of 2.75% of the payment amount each time you make a payment. This convenience fee is non-refundable.
Why is VISA no longer accepted?
VISA's association rules will not permit VCU to charge a percentage service fee.
Is VISA no longer accepted anywhere on campus?
VISA is still accepted on campus for all charges except those charges on your online student tuition and fees bill.
How was the 2.75% (minimum $3) service charge determined?
The credit card processor set their standard rate to apply to VCU.
Is the convenience fee refundable?
No. The convenience fee is not paid to VCU so it is not refundable.
Are other colleges and universities making similar changes?
Yes, colleges and universities all over the country have made similar credit card payment and convenience fee policy changes. Other Virginia colleges and universities who already charge a credit card convenience fee include Virginia Tech, UVA, James Madison, Christopher Newport, George Mason, and William & Mary.
What other online options are available for payment of my tuition and fee account?
You may pay by electronic check through the billing payment site at no additional cost. You may also pay by wire. Please see the wire instructions at http://www.vcu.edu/treasury/epayment.htm.
Will I be able to pay my tuition and fees by check?
Yes, checks will still be an acceptable method of payment either by mail or at the VCU Cashier’s Office located on the 1st floor of Harris Hall (1015 Floyd Avenue). The office is open Monday through Friday from 9:00 a.m. to 3:00 p.m.
Where can I pay my bill in person?
Personal or certified check, cash or money order payments may be made at the VCU Cashiers Office located on the 1st floor of Harris Hall (1015 Floyd Avenue). The office is open Monday through Friday from 9:00 a.m. to 3:00 p.m. Credit card payments for online student tuition and fees bills can not be accepted at the Cashier’s Office.
When will the credit card payment changes go into effect?
The credit card convenience fee will go into effect on August 2, 2010.
Can I make a credit card payment to my account prior to August 2, 2010 for Fall 2010 student bills?
Yes, however, estimated charges should be determined by using the Tuition and Fee Calculator (http://www.enrollment.vcu.edu/accounting/tuition_fees/calculator.html), since all charges may not be included on the fall student bill prior to August 2nd.
Student Accounting
1015 Floyd Ave., 1st Floor
P.O. Box 843036
Richmond, VA 23284-3036
Phone: (804) 828-2228
Fax: (804) 828-5463
E-mail: stuacctg@vcu.edu
Hours: Monday - Friday, 8 a.m. - 5 p.m.
