Effective July 1, 2011, Michigan Technological University has revised its billing and payment structure. Because of rising surcharges by credit card companies, the University has changed the way it accepts credit/debit cards for student billing payments —Visa, American Express, MasterCard, and Discover payments will be assessed a surcharge. See the payment options and frequently asked questions below for more information.
Student billing credit card payment options have changed. Every time you use a credit card, Michigan Tech is assessed a surcharge. To minimize the tuition dollars spent paying these surcharges, it has become necessary to revise our payment and billing structure. As of July 1, 2011:
- Visa, American Express, MasterCard, and Discover will be accepted for student billing payments; a 2.3% nonrefundable surcharge will be assessed to all payments.
- Credit and debit cards (Visa, American Express, MasterCard, and Discover) can still be used without a surcharge elsewhere on campus, such as at the Campus Bookstore, Mont Ripley, Campus Café, and other retail establishments.
- Credit/debit card payments for student bills can be made online or at the kiosk located within the Student Service Center. We do not accept credit/debit payments over the phone.
Michigan Tech encourages the use of check or e-check (an electronic funds transfer from your checking or savings account) for student bill payments.
- Paying by check/e-check is easy and hassle-free.
- There is no fee for check/e-check payments.
- There’s no worry about interest or other additional surcharges, such as with credit cards.
- Checks/e-checks are accepted throughout the University, from student billing to the Campus Bookstore and other retail establishments.
Cash and other options
Michigan Tech accepts several payment options in addition to checks/e-checks and credit/debit cards, including:
- Money order
- Traveler’s check
- Bank or credit union wire transfer
There are no fees assessed for these options and they are accepted throughout the University, from student billing to the Campus Bookstore and other retail establishments.
For information about money orders and traveler’s checks, contact your bank or credit union.
For information about wire transfers, contact Financial Services and Operations.
Michigan Tech offers several convenient payment plans to assist you in paying your student bill.
- Five-Payment Plan
A $35 fee allows you to defer part of your tuition bill. One-fifth of your expenses, less financial aid, is due every four weeks, beginning one month prior to the tuition billing due date.
- Four-Payment Plan
A $50 fee allows you to defer part of your tuition bill. One-fourth of your expenses, less financial aid, is due every four weeks, beginning on the tuition billing due date.
Find out more information about payment plans.
Why is a surcharge being assessed for Visa, American Express, MasterCard and Discover payments?
Every time you use a credit card, Michigan Tech is assessed a surcharge—the University was charged more than $600,000 in 2010. We want to minimize the tuition dollars spent paying these surcharges. For that reason, we’re encouraging students and families to use interest- and surcharge-free payment options, such as e-checks.
When is the surcharge assessed?
The 2.3% surcharge is assessed for student billing credit/debit card payments only. Credit cards (Visa, American Express, MasterCard, and Discover) can still be used surcharge-free elsewhere on campus, such as at the Campus Bookstore, Mont Ripley, Campus Café, and other retail establishments.
Can I use my debit card?
Because debit card payments are processed the same as credit cards, our policies are the same for both. Just as with credit cards, debit cards are accepted for student billing payments, but will be assessed a 2.3% surcharge.
If you generally use a debit card for student billing payments, we strongly encourage you to use an e-check instead. Both are drawn from your checking or savings account, but the debit card is assessed a surcharge and the e-check is not.
What is the difference between a debit card and a credit card?
A debit card looks like a credit card but works like an electronic check. If you use a debit card to make a purchase, it is run through a scanner just like a credit card, but funds are deducted directly from the checking or savings account associated with the card rather than billed to you by a credit card company.
Since debit cards are connected to a bank account, you can avoid the 2.3% surcharge by paying with an electronic check. You will need your bank routing number and account number from your checking or savings account. Click on the “pay by electronic check” link and follow the instructions.
Why don't you accept credit/debit card payments over the phone?
Surcharges are higher for credit/debit card transactions entered by hand (those made in person or over the phone). Credit/debit card payments for student bills can be made online or at the kiosk located in the Student Service Center.
What are my no-surcharge payment options for student billing?
There are a variety of no-surcharge payment options available for student billing, including check, e-check, traveler’s check, money order, cash, and wire transfer.
How do I pay by e-check?
An e-check—an electronic funds transfer from your checking or savings account—works the same as a debit card. When making an online payment, you’ll be asked to enter your checking or savings account number and bank routing number, both located on the bottom of your check. Once the payment has been submitted, the money will be withdrawn electronically from your account.
What kind of payment plans does the University offer?
Michigan Tech offers the Four-Payment and Five-Payment Plans—that allow you to defer part of your tuition bill and pay it in several smaller installments. Learn more about these payment plans.
When do these changes go into effect?
The University’s payment and billing structure outlined on this site is effective as of July 1, 2011.