Understanding your monthly statement
Some of the terms used in the Student Account Online Statement might be unfamiliar to you; below you will find a few of the more commonly used terms.
- Previous Statement Date - this is the date your last statement was issued.
- Previous Balance - this is the balance shown on your last statement.
- Amount Due on Last Statement - this is the amount which had to be paid from the last statement to avoid interest charges.
- Payments Received - this is a total of all payments made to your account since the last statement was issued.
- Present Balance - this is the total outstanding balance. This amount may include charges for fees which are not due now (i.e. fees for courses which begin in the next term). Although some charges may not be due until later, you can always pay them earlier if you wish.
- Negative Balance - If the amount of payments to your account is greater than your current account balance (for example: -$300.00). This credit on your student account will be applied against future account charges (for example: the Registration Deposit payment for new students is applied against the tuition fees charged for course enrolments). If you have a negative balance and you want to receive a refund instead of having it remain as a credit on your account, then you can submit a refund request. Please refer to the Refunds page for more details and a link to the refund request form.
- Minimum Payment Due This Month - this amount must be paid by the "Payment Due By" date to avoid interest charges. If the amount shown is zero, no payment is due on that date.
- Payment Due By - payments are due by the 10th of the month following the statement date. If the full amount due is not paid by the due date, an interest charge will be added to the account.
What is included on your statement?
Statements are issued around the 18th of each month and include:
- course/program enrolment fees
- course drop refunds (as applicable)
- residence fees, meal plan and telecommunication charges
- payments made since the last statement was issued
Each statement calculates a minimum payment due that month and indicates the due date. If there are overdue amounts, an interest charge is also calculated at that time.
Any activity that takes place after a statement is generated will be reflected on the following month's statement. Therefore, if you drop a course after August 18, it will not be reflected on your August statement; it will appear on your September statement and will be part of your amount due on October 10.