Petition for Removal of Interest Charged on Tuition
As an international student, your tuition can be as high as $13,785.30*
The way fee payment is structured is such that whatever your outstanding balance is on your tuition, you are charged 5% interest per annum on the account balance as at the last working day of each month.†
The business office will argue that 5% is nothing really, but as international students, a lot of us will not make the 60% initial payment for the Fall term, but pay what we can during the academic year, sometimes even into the summer, and even if we make the 60% initial payment we will still owe the university $6,510.06 for the winter term‡
Now let’s do the math
[5/(12*100)]*$6510.06=$27.125 per month from September to January
And that’s with making the 60% initial tuition for the academic year.
Imagine how much interest you are paying on your tuition for the entire academic year.
Do you think its fair to charge already struggling students this much interest?
Who does this really benefit?
Obviously not students!!!!
This petition is being created to attempt to eliminate interest charged on our tuition and bring back the nominal deferral fee that was in place before this academic year.
Signatures will be collected and presented to the Dean of Students by a group of International Students.
Please support this initiative.
† Taken from http://www.carleton.ca/tuition/epc04F.htm
‡ If the total tuition of $13,785.30* which is what international students in Engineering or Architecture pay
As an international student, your tuition can be as high as $13,785.30*
The way fee payment is structured is such that whatever your outstanding balance is on your tuition, you are charged 5% interest per annum on the account balance as at the last working day of each month.†
The business office will argue that 5% is nothing really, but as international students, a lot of us will not make the 60% initial payment for the Fall term, but pay what we can during the academic year, sometimes even into the summer, and even if we make the 60% initial payment we will still owe the university $6,510.06 for the winter term‡
Now let’s do the math
[5/(12*100)]*$6510.06=$27.125 per month from September to January
And that’s with making the 60% initial tuition for the academic year.
Imagine how much interest you are paying on your tuition for the entire academic year.
Do you think its fair to charge already struggling students this much interest?
Who does this really benefit?
Obviously not students!!!!
This petition is being created to attempt to eliminate interest charged on our tuition and bring back the nominal deferral fee that was in place before this academic year.
Signatures will be collected and presented to the Dean of Students by a group of International Students.
Please support this initiative.
† Taken from http://www.carleton.ca/tuition/epc04F.htm
‡ If the total tuition of $13,785.30* which is what international students in Engineering or Architecture pay
