Office of the BursarUniversity of CincinnatiDivision of Administration and FinanceOffice of the Bursar

Office of the Bursar

Late Payment Fees

Effective Winter 2012 (January 2012) the University is changing how it calculates and charges late payment fees. In an effort to be more fair to all students the new late payment fee structure will be a combination of a flat $50 late payment fee + 1.5% interest charged per month on balances greater than $200. Late fees will be assessed on the last day of every month. An example of what students will see on their bill is shown below:
 

  * Previous Balance  0.00  
12/02/2011
Instructional Fee
 2,935.00
 
12/02/2011
General Fee
260.00
 
12/02/2011
Info Tech & Inst Equip Fee
116.00
 
12/02/2011
Campus Life fee
162.00
 
01/31/2012
Late Payment Fee
50.00
 
01/31/2012
Late Payment Interest Charge                         
3.00
 
12/24/2011
Online Payment
   3,273.00CR
       
  Balance Due:  253.00  
 

PLEASE NOTE: The above described change doesn't change the payment due date which is 5 days before the term starts. Students enrolling after this date will have 7 days to make payment. The University provides several methods for making payments - on-line, in-person (at branch campuses), drop box and lockbox (by mail). The University is not responsible for delays in mailing payments so be sure to leave ample time when making payments by mail.

The waiving of the late payment fee will be considered on a case-by-case basis using much stricter guidelines. The late payment interest charge is non-refundable and not eligible for waiving or refunding.

In accordance with federal regulations, we have updated the student bill display so it more clearly identifies those charges that Federal Title IV Aid is not allowed to pay. Where you see an asterisk (“*”) before the description those fees are not eligible to be paid with current term federal aid. Should you have questions about that charge contact the phone number in the description. Below is an example:

  * Previous Balance 50.00  
01/01/2012
Instructional Fee
1,470.00
 
01/01/2012
General Fee
129.60
 
01/01/2012
Info Tech & Inst Equip Fee
60.00
 
01/01/2012
Campus Life fee
80.40
 
01/01/2012 Program Fee 168.00  
01/10/2012 * Housing Contract Buyout (513)556-6461 200.00  
01/17/2012
Federal Direct Stafford Loan - Subsidized
  2,000.00CR
01/17/2012
Federal Direct Stafford Loan - Unsubsidized   829.00CR
01/17/2012
Refund Direct Deposit
921.00  
       
  Balance Due: 250.00  

In the example above,  the previous balance of $50 and the housing buyout of $200 cannot be paid for with federal aid so the remaining balance of $250 will have to be paid by the student separately using their own funds. This payment will need to be posted, by close of business, on the last day of the month or you risk being assessed a late fee and interest.