Payment Options at Winthrop University

Effective November 13, 2006, the University implemented changes regarding payment options for tuition and fees. These are the primary changes that result from the new policy:

• Students and parents will be able to make payments directly from any personal checking account by using the new web payment option (Electronic Funds Transfer) with no additional charges, simply by entering the bank/financial institution routing and account number information at the time of online payment.
• The Cashier’s office will no longer accept credit card payments for tuition and fees at the teller windows, by mail or by telephone. Credit card payments may be made through the Cashier’s online secured payment gateway at Paying Over The Internet or at WINGSPAN. A convenience fee of 2.75% of the total payment amount will be charged to the student’s account when choosing the Credit Card payment option. This convenience fee will be added to the charge amount.
• Visa branded credit cards will no longer be accepted for payments made for tuition and mandatory fees.
• American Express cards have been added to Discover and MasterCard as credit card payment options made through the Cashier web site.

While credit card payments offer a convenient manner for students and parents to pay tuition and fees, the cost to the University for providing this convenience has grown to more than $200,000 annually. Given the tightened budget situation, the University decided to require those who want the convenience of paying with a credit card to cover a portion of the University's cost of providing the service. This change will benefit the University and all of its students by enabling the University to allocate the savings to instructional purposes.

The credit card companies allow the University to recover the direct costs incurred to provide internet payment capabilities. The rate is based on an estimate of those direct costs. At this percentage rate, the University will continue to pay for a portion of the cost of accepting credit cards.

The University was unable to negotiate an acceptable method of assessing an appropriate convenience charge to tuition and fee payments. Unlike the other brands of cards, Visa will not allow the University to assess a convenience charge that varies with the amount of the tuition and fee bill.

Many colleges and universities both within and outside of South Carolina have already made similar changes to their practices of accepting credit cards. Winthrop University has attempted over the past year to negotiate changes in its arrangements with its credit card providers to avoid having to make these policy changes. However, like other institutions, those negotiations have had limited success.

In addition to accepting American Express, MasterCard, and Discover credit cards over the internet (subject to a convenience fee), students and parents will be able to make payments directly from any checking account by using the new web payment option - electronic checks by simply entering the bank/financial institution routing and account number information at the time of online payment. The University will also continue to accept check payments by mail and payments made by cash and check at the Cashier’s Office teller windows.

To obtain information about government or alternative loans -- all with much lower interest rates than typically found on credit cards -- students and families can link to the Financial Aid Office. If you do prefer to pay by credit card, you may apply for a MasterCard, Discover Card, or American Express card at the company’s website.

Credit card information will not be accepted through the mail or by telephone. All credit card transactions must be handled through the Cashier’s website or through WINGSPAN. By implementing these changes, security will be enhanced because no written information regarding credit card or bank information will be handled or filed. Even Winthrop University personnel will not have access to credit card numbers.

The monies collected will be used to defray a portion of the cost of providing convenient electronic payment options for those who wish to pay via credit card. This change will benefit the University and all of its students by allowing the University to allocate those savings to instructional purposes.

Winthrop will continue to accept cash and check payments at the teller windows in the Cashier’s Office as well as check payments received in the mail.

In addition, you may want to consider setting up a checking account for your student in your area – you could then deposit funds into the student’s checking account and have the student make payments by check at the teller windows in Cashier’s.

Questions may be directed to the Cashier’s Office at 803-323-2167 or the Student Financial Services Office at 803-323-2165.