York U Tuition Payment Question

[WorldIRC]

So with York, one's minimum payment is usually the full tuition amount. If one doesn't pay the full tuition by Sept 10, do they kick you out or charge just the 1% interest fee? Do they let you pay it off monthly etc...

[JEDI-MASTER]

Its not the full amount as far as I remember, maybe 70 - 80%, my statement for september shows: I owe 1200* of the 3200* so like 1/3 pretty much but it may vary. If u don't pay the minimum , u just get 1% charged on it for each month, I've had to pay it for 3 months in my first year :( but yea u don't get kicked out.

[WorldIRC]

Because all my courses are Full Year, my minimum is the full 5gs ;) 1% is a small price to pay to be able to pay it off over 3 or 4 months.

[Agent_J]

If one doesn't pay the full tuition by Sept 10, do they kick you out or charge just the 1% interest fee? Do they let you pay it off monthly etc...
They charge you the 1% interest fee for any outstanding balance due on your account. You should note however, that the 1% interest fee is a monthy rate, so compounded would = ~13% annual rate, which is higher than the lowest credit interest rates you could get with a credit line (usually prime + 1 which works out to 7% now) which is actually the same as the MasterCard Capital One offers, so if you do have an outstanding balance, better to take money from a credit line/credit card with a low rate to pay off the balance so you don't pay as much in interest to York :)