Credit Card Payment Policy
Beginning in the Fall 2016 term, Regent College will no longer accept credit card payments for tuition or related fees. We are not the first post-secondary institution to make this change. Many universities across Canada and the US, including local institutions such as UBC and SFU, refuse to accept tuition payments via credit cards due to the high transaction fees charged by credit card companies.
While this change is new to Regent College, it is a necessary part of our ongoing work to steward the college's financial resources effectively. We have worked to ensure that alternate payment options are available to students, including Global Pay for international students and Interac Online for those with a Canadian bank account.
Learn more about these changes below.
Frequently Asked Questions
1. Can I pay my tuition and fees for the Summer 2016 term with a credit card?
Yes. Tuition and fees relating to classes taken in the Summer 2016 term may still be paid by Visa or MasterCard.
2. Why is Regent College no longer accepting credit cards for tuition payment this fall?
Regent College currently pays over $66,000 per year in transaction fees arising from tuition payments made by credit card. This fee has grown 18% in the last two years and is unsustainable going forward.
3. Can’t Regent negotiate a better rate with credit card companies?
The fees Regent pays for credit card transactions are as low as they can be. Our costs have gone up because credit cards are being used much more often.
4. Why doesn’t Regent pass the cost of using credit cards on to students as a surcharge?
Credit card companies have not allowed educational institutions to charge a transaction fee. Regent is investigating options that might permit the College to charge a transaction fee to those wishing to use a credit card, but this option is not available this fall.
5. The reason I paid my tuition by credit card was so that I could receive reward points from my card company. Why can't I keep paying by credit card?
Regent recognizes that the loss of an opportunity to gain reward points is an inconvenience. However, Regent is responsible for stewarding its funds responsibly to ensure the College’s ongoing financial stability. This change is part of that stewardship.
6. What methods of tuition payment will be accepted?
You can pay your tuition using any of the following options:
- Western Union GlobalPay (an online option for international students who wish to pay using their home currency);
- Interac Online (bank debit) via REGIS;
- Debit (in person at reception);
- Canadian or American cheques (note that American funds will be converted at Regent’s monthly exchange rate);
- Canadian money orders; and
- Canadian cash.
7. I have a daily limit on my debit card. What are my options?
Contact your financial institution to temporarily increase your daily debit card transaction limit.
8. Will credit cards be accepted for other Regent expenses?
Credit cards will continue to be accepted for application fees, registration deposits, and confirmation fees.
See the dropdown box below for a breakdown of the fees that can and cannot be paid by credit card.
9. How long will it take for a GlobalPay or Interac Online payment to show up on my account at Regent?
Please allow 5 to 7 days for GlobalPay payments to be posted to your account. Interac Online is instant.
10. What will happen if my student loan funding does not arrive by the tuition due date?
Sometimes, students who rely on student loans do not receive their loan funding before tuition is due. In that case, if the student loan has been signed by Student Accounts on or before the due date, no late fees or charges will be applied to your account. However, if your loan does not cover all of your tuition, you must pay the balance by the due date in order to avoid late fees.
11. I made a payment by credit card before this change in policy and I need a refund. How will I be refunded?
If you have already made a payment on your credit card, we will still refund your card.
List of fees that can be paid by credit card
The following fees can be paid by credit card:
- Application Fee;
- Registration Fee
- Academic Writing Course Fee;
- Thesis Orientation Fee;
- Integrative Project in the Arts and Theology(IPIAT) Handling Fee;
- Thesis/IPIAT Continuation Fee;
- Intro Greek or Hebrew Proficiency Exam Fee;
- Program Extension Fee;
- Transcripts and Official Documents Fee;
- Graduation Certificate Replacement Fee;
- Grade Reassessment Fee; and
- Summer Term Extension Administrative Fee.
List of fees that cannot be paid by credit card
The following fees cannot be paid by credit card:
- Student Fees (this includes U-Pass, RCSA, AMS, Fall Retreat, and Health & Dental Plan Fees);
- Late Registration Payment Fee;
- Thesis/IPIAT Extended Continuation Fee;
- Comprehensive Exam Retake Fee;
- Failure to Register Course Change in Writing Fee; and
- Dishonoured Cheques Fee.