Credit Card Convenience Fee as of May 1, 2016
Indiana University is committed to providing students and their families a range of options for paying their educational expenses including e-check, check, cash, and credit/debit card. The credit/debit card payment method is becoming prohibitively expensive because of transactions fees charged to the university. In order to continue to accept credit/debit cards, payments made with MasterCard, Discover, VISA, JCB and American Express on student accounts at IU South Bend will be assessed a 2.75% “convenience fee” by the third party vendor on the payment amount effective May 1, 2016. You may continue to make payments via e-checks, checks and cash without a convenience fee. In addition, IU South Bend has a deferment plan offered by the billing system to assist with payment options for students and their families.
Note: the 2.75% rate is subject to change
As of May 1, 2016
- This change is for credit/debit card payments on student accounts at all IU campuses. Note: Application Fees are not on the student account.
- Credit/debit card payment option will be available only as an online service via IU Bursar Pay. IU South Bend will not accept credit/debit card payments for student account payments through the mail, in person, or over the phone.
- Students/payers who choose the credit/debit card option to pay a student account will be charged a non-refundable, per transaction service charge of 2.75% of the payment amount by the third party vendor. For example, a $500 payment with a credit card will be assessed a $13.75 convenience fee by the CASHNet service. The service charge will appear separately on the credit card holder’s credit card statement. Note: the 2.75% rate is subject to change.
- Credit/debit card payments may be made with MasterCard, Discover, VISA, JCB and American Express.
- All costs for choosing to pay with a credit/debit card must be assumed by the student/authorized payer. The University does not receive, nor will it underwrite, any portion of the service charge.
- The service charge from CASHNet is in addition to the interest rate charged by the credit card company.
While this is a change for our IU community we are working to maximize alternative payment methods for our students in the most efficient manner. This change will allow us to continue to offer payments via credit/debit cards on student accounts to those who choose that method without requiring all students to subsidize this payment method.