Not in OCAD's Interest
This petition had 1,045 supporters
A new OCAD University proposal for interest on tuition that is not paid by the due date will negatively affect our most vulnerable students at OCAD U. The University's proposal to change the late fee on student accounts from a flat $50 fee to a compoundable interest rate of 1.25% per month amounts to students being charged $50 per month of what they have not paid in tuition (if they are paying undergraduate domestic rates) and upwards of $1000 for the year in late fees, alone. This fee will be higher for graduate and international students. We are concerned students who believe that University will be capitalizing on students in greatest financial need. We, the undersigned, believe that the proposal should not be passed.
We, the undersigned, are gravely concerned about the proposed changes that OCAD U is bringing to the Board of Governor’s meeting on March 7th, 2016. The University is not only proposing a 3% tuition fee increase for domestic students for the coming academic year, but also fee increases that range from 4-8% for international undergraduate tuition and International graduate tuition. Not only will these changes bring an increase of about $200 per student for domestic full time fees and much more for international undergraduate and graduate fees, but the proposed interest on late payment of tuition, at a whopping 1.25% per month, amounts to the equivalent of credit card debt on tuition at the end of the year.
This outrageous change to late payment of tuition will negatively affect students who are in the most precarious financial positions. Students who don’t pay their tuition on time and who pay it off slowly over the course of the year are often the students who cannot afford to pay it upfront. This new fee structure with an interest rate will mean that students who have the least money will now be asked to pay the highest fees for their late payment.
Until this proposal, students were charged a flat fee of $50 and were not allowed to enroll in the following school year if they had not settled their payment. The University argues that this has not been enough of an "incentive" for students to pay their tuition on time. We believe that the University doesn’t realize students don’t choose to pay their tuition late, they don't have any other option. The $50 fee is “incentive” enough since accessing thousands of dollars for education can be really time consuming or impossible for some students, and paying tuition off slowly may be their only option.
We believe this change in late fee structure is punitive to students and will affect students in precarious financial positions the most!
We believe that interest on tuition is not in our interest!
We, the undersigned, believe that the Board of Governors should not pass the proposal to impose interest on late student accounts and should allow students to pay off their tuition over the course of the year without fear of extra charges.
We, the undersigned, call for the Board of Governors of OCAD U to reject the interest on overdue student account balances proposal!
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