From: Anne Gross (AGross@nacubo.org)
Date: Thu Jul 03 2003 - 18:37:08 EDT
Linda: NACUBO is currently surveying its members on acceptance of credit cards for tuition and fee payments. NACUBO primary representatives, usually the CFO, should have received an e-mail with instructions and a link to the on-line survey instrument on Wednesday, July 2. The survey will be open until July 24. I suspect that many folks on this list will end up being the person asked to respond for their institution. I encourage you to do so--the more responses, the better the information. We'll share the results when they are available.
Questions about the survey should be directed to Anna Jackson at anna.jackson@nacubo.org or 202-861-2537. Anne
Anne C. Gross
Vice President, Business and Regulatory Affairs
NACUBO
202-861-2544 anne.gross@nacubo.org
202-861-2583 (fax)
-----Original Message-----
From: Stamper, Linda [mailto:lindajo.stamper@marquette.edu]
Sent: Thursday, July 03, 2003 8:34 AM
To: bursar-l@virginia.edu
Subject: cost of credit cards
Hello,
I have been following the discussion about credit card fees. It seems there
are three ways this is being handled. Some schools absorb the costs as a "a
cost of doing business". Passing the cost of credit card usage back to the
user of the credit cards is used by other schools. A few schools have
stopped accepting (or never did accept) credit cards as a method of payment.
Would schools who are directing the cost of credit card fees back to the
student/payer please share, either through the list, or to me directly, the
following information:
Does the school accept credit card payments directly, or do you use a third
party service to process credit card payments? (ie-does the student contact
the school or a third party to initiate payment). If you use a third party
service, please provide the name of the agency/company.
Does the school (or the third party) assess additional fees for credit card
use? If so, do you use a flat fee or a variable fee depending on the
payment amount? What is the dollar or percentage amount of the fee for
credit card payment?
What is the dollar range of credit card payment you accept in a
transaction? (ie-what is the minimum credit card payment, what is the
maximum payment)
Do you limit (cap) the maximum payment allowed per transaction? If so, what
is the dollar cap?
What is the full time undergraduate tuition range at your school on an
annual basis (9 months)?
Which credit cards (MasterCharge, VISA, Discover, etc.) are accepted?
Thank you for your valuable assistance and information. I will share a
summary of responses with the list.
Sincerely,
Linda Jo Stamper
Financial Services Manager
Office of the Bursar
Marquette University
(414) 288-1640
(414) 288-5440 fax
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