Committee for Credit Card Acceptance and Transaction Fees.

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Presentation transcript:

Committee for Credit Card Acceptance and Transaction Fees

Charter -- Situation and Objective Situation: –University spends $285,000 per year on credit card transaction fees for tuition and fee payments $136,000 state funds ($120,000 from one-time funds) $149,000 non-state funds (Residential Living, Dining, etc) –It is a recurring / operational expense –One-time funds can no longer support this expense Objective: –Find other funds for (completed) –Identify solution for and forward that does not require this one- time expense (or a $136,000 state fund budget cut will be required) –Scope: Tuition and fees (i.e. Student Account payments) In scope: Tuition & fees, base meal plans, housing, library fines, parking tickets Out of scope: CatCash, application fees, orientation fee, housing deposits, tuition deposits, commuter meal plan, and add-on money to meal plans, Bookstore, Catamount clothing, Aramark dining, Continuing Ed classes –Communicate any changes / impacts to students / parents by Mar-Apr 2012

WCU New Payment Options 12/12/ Executive Council approved the implementation of a convenience fee (charged by third party) for student account payments

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