Payment Plan for 2009-2010 School Year
Rebekah Tucker
Issue date: 4/29/09 Section: Features
As of July 1, 2009, Longwood will no longer be accepting Visa as a payment method for any student account. However, according to a press release from Randy Sherrod, MasterCard, American Express (AMEX) and Discover will still be accepted. ACH bank drafts will also continue to be processed, with no charge to the student.
Beginning July 1, a charge of 2.75 percent on credit card payments will be made toward the balance on student account. And beginning with the fall 2009 semester, Longwood will charge a 10 percent late fee on unsecured balances not paid by October 16, 2009 for the semester. A late fee for individuals who have not made their Monthly Payment Plan payments will be assessed on November 13, 2009.
The press release said, "The decision to stop accepting VISA as a payment method was not taken lightly. In Fiscal Year 2008, (July 1, 2007 through June 30, 2008) Longwood paid over $250,000 in credit/debit card fees. As you can imagine, Longwood is affected by the current economic situation facing the Commonwealth and the Nation. Elimination of the credit/debit card fees currently being paid by Longwood has become a necessary tool toward balancing our budget."
Longwood is able to charge the credit and debit card fees to student accounts and will be able to save the roughly $250,000 paid out each year due to no longer accepting Visa payment forms.
The 2.75 percent fee is based on the rates being charged by the credit card companies and will cover the cost of the fees being charged by MasterCard, AMEX and Discover. The charge is helping to prevent a major increase in tuition.
James Madison University, Virginia Tech and the College of William and Mary are other schools in Virginia who charge fees for students who pay their university bills with a credit card.
The press release encouraged students to keep checking their account. "As these changes are implemented, it is very important to monitor your student account. You can monitor your account and make payments through the My Longwood Portal by selecting the Student tab, clicking on My Student Account, scrolling to the bottom of the page, and selecting 'Click here to view your account information.' You can then: view your eBill, make payments, enroll in the automated Monthly Payment Plan, set up authorized users, sign up for Direct Deposit Refunds, and save payment methods."
Any questions about the change should be directed to Director Bruce Jenkins, Kathy Motley, Jenise Shumaker, Karin Warner, Anne Vaughan and Jessi Conwell. This office is located on the second floor of the Lancaster Building. The phone number is 395-2067.
Beginning July 1, a charge of 2.75 percent on credit card payments will be made toward the balance on student account. And beginning with the fall 2009 semester, Longwood will charge a 10 percent late fee on unsecured balances not paid by October 16, 2009 for the semester. A late fee for individuals who have not made their Monthly Payment Plan payments will be assessed on November 13, 2009.
The press release said, "The decision to stop accepting VISA as a payment method was not taken lightly. In Fiscal Year 2008, (July 1, 2007 through June 30, 2008) Longwood paid over $250,000 in credit/debit card fees. As you can imagine, Longwood is affected by the current economic situation facing the Commonwealth and the Nation. Elimination of the credit/debit card fees currently being paid by Longwood has become a necessary tool toward balancing our budget."
Longwood is able to charge the credit and debit card fees to student accounts and will be able to save the roughly $250,000 paid out each year due to no longer accepting Visa payment forms.
The 2.75 percent fee is based on the rates being charged by the credit card companies and will cover the cost of the fees being charged by MasterCard, AMEX and Discover. The charge is helping to prevent a major increase in tuition.
James Madison University, Virginia Tech and the College of William and Mary are other schools in Virginia who charge fees for students who pay their university bills with a credit card.
The press release encouraged students to keep checking their account. "As these changes are implemented, it is very important to monitor your student account. You can monitor your account and make payments through the My Longwood Portal by selecting the Student tab, clicking on My Student Account, scrolling to the bottom of the page, and selecting 'Click here to view your account information.' You can then: view your eBill, make payments, enroll in the automated Monthly Payment Plan, set up authorized users, sign up for Direct Deposit Refunds, and save payment methods."
Any questions about the change should be directed to Director Bruce Jenkins, Kathy Motley, Jenise Shumaker, Karin Warner, Anne Vaughan and Jessi Conwell. This office is located on the second floor of the Lancaster Building. The phone number is 395-2067.
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