Please note: Credit cards are no longer accepted as a method of paying charges on your student bill as of December 1, 2010.
Frequently Asked Questions
Beginning December 1, 2010, NYU will not accept payment by credit card for charges on the student bill. Students and families can continue to use the third party vendor service to pay for fall semester charges through and including November 30, 2010.
Why will NYU no longer accept payment by credit card for charges on the student bill through an outside vendor?
Through discussion with the providers of this service within the last few months, the interpretation of New York State law made it clear that a “convenience fee” could not be added to credit card transactions. NYU will, therefore, no longer utilize the “convenience fee model” for the payment of charges on the student bill. Our conversations with a number of New York State universities indicate they are doing likewise.
Is NYU making this change to save money?
No. The convenience fee added to credit card transactions by the third party vendor service is retained by them. NYU receives no portion of the fee.
Why can't NYU accept credit cards directly?
Organizations that accept credit cards as a method of payment for goods and services are charged an “interchange fee” by credit card providers. This is separate and apart from any interest or finance charges that cardholder’s pay when carrying a balance on the card. When NYU accepted credit cards directly, prior to the summer of 2002, these fees were costing the University millions of dollars per year.
This change will affect my ability to pay my student bill. What can I do?
- NYU offers several payment plans to assist in either budgeting or financing your education. For additional information, please visit the Bursar website at: http://www.nyu.edu/bursar/paymentplans
- You may also contact the Office of Financial Aid at (212) 998-4444, firstname.lastname@example.org, or visit the Office of Financial Aid at the Student Services Center at 25 West 4th Street. While NYU cannot guarantee additional funding, there may be other options or resources available to you that you may not have considered or of which you are not aware. Financial Aid counselors are available to guide you through the process.
What can still be paid with a credit card after November 30, 2010?
- Purchases at the NYU Bookstores
- Non-Credit tuition payments for the School of Continuing and Professional Studies (SCPS)
- Donations to the University
- Tickets or other payments for University events
- Locker fees at Coles and Palladium
There will not be a convenience fee associated with the use of credit cards for the above mentioned services