Interest charges

Payments on your student account are due on the 10th of each month. If you do not pay the "minimum payment due this month" to the University by this date, you will be subject to interest charges of one per cent monthly on the amount owing from your last statement. The annual interest rate is 12.7 per cent. Interest charges are not assessed on fees for courses that begin in a future academic session or on transactions that appear for the first time on your statement. Avoid interest charges by always paying at least the "minimum payment due this month".

Fall/Winter students who have applied for OSAP by York's recommended deadline of June 30, and are awaiting their funds, will not be charged interest on overdue amounts for the months of September, January and/or May.

Students who cannot pay the full amount of their fees by the due date are expected to make regular monthly payments to reduce their outstanding balance as quickly as possible. Students having difficulty meeting their financial obligations should contact Registrarial Services in the Bennett Centre for Student Services as quickly as possible. Glendon students should contact Glendon Student Financial Services.

Financial blocks

If you have an overdue balance on your student account at any point after the dates listed below, you will be blocked from adding new courses, changing sections or exchanging one course for another through the online Registration and Enrolment Module (REM); however, you will still be able to drop courses.

• November 1 - you will be blocked from adding or changing courses in the current session
• March 1 - you will be blocked from adding summer courses
• May 31 - you will be blocked from adding fall/winter courses

In order to remove the block, you must make your payment through telephone or online banking to reduce your account balance. Your block will be automatically lifted the day after your payment appears on your Student Account.

If you are unable to reduce your overdue balance in order to enrol, we may consider a debt repayment plan which will enable you to continue your academic studies. Decisions to lift the financial block with an approved Debt Repayment Agreement (DRA) are based on the following:

• Registered as active in the previous session,
• You have been making payments to your student account in the previous session,
• Your outstanding balance is manageable based on the payment plan being proposed,
• You are in good academic standing,
• If you are paying domestic fees, you have applied for Financial Aid,
• OSAP funding must be remitted directly to the school,
• You have completed the Student Financial Profile online tool,
• You may be required to make a lump sum payment to reduce your outstanding balance,
• If you have defaulted on a previous DRAs, any future requests for a DRA will not be considered.

DRAs will be reviewed during the following dates for each term:

• Fall term: August 1 – September 15
• Winter term: December 15 – January 15
• Summer term: April 1 – June 30 (For full-time continuing OSAP-funded students, please complete and sign this Summer OSAP Application and upload your completed OSAP application through the Debt Repayment Application Form)