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Printer-Friendly ModeFall payments due July 27 without VISA for first time
July 19, 2005 —
On July 1, credit card payments began to be processed by a third party called CashNet, a change that stands to save SVSU in excess of $300,000 each semester in credit card processing fees.
Payment of Fall 2005 tuition, housing, meal plan and related fees is due in person or by use of Cardinal Direct by 6:00 p.m. Wednesday, July 27.
Processing fees are now applied to all forms of payment that come into the University. With the use of CashNet, only those using credit card as payment will be paying a 2.9 percent processing fee. The downside to this new policy, however, will be that CashNet does not accept VISA, but only MasterCard, American Express and Discover.
Nearly 3,600 students, or 40 percent of the approximately 9,000 students at SVSU, pay their fees with a credit card. However, around 2,000, or 21 percent, pay their school housing and tuition with a VISA credit card.
Those affected by the change were notified to secure one of the accepted credit cards or find another method of payment.
Students or parents can still make payments via check or money order either in person or by mail, by paying cash at the Cashier's Office, or by paying through Cardinal Direct's electronic checking feature. The cash advance feature of their VISA cards can also be used to pay in cash or check form.
One student concern is that of TCF cards or other debit cards with the VISA logo. These cards will still be accepted if they are used in the form of a debit card to make payments through the electronic check feature. However, debit cards including those provided by TCF Bank will not be available for use as a credit card.