Late payment of fees
Your fees must be paid in full by the payment due dates. Otherwise, students may be placed on financial hold, charged a processing fee and charged an interest penalty. The financial hold will be removed when the outstanding balance, including penalties, is paid in full.
Financial hold overview
A student may be placed on financial hold as a result of outstanding fees, including tuition and student fees, parking and library fees, and Student Housing & Hospitality Service fees.
What happens when you’re on financial hold?
- Registration will be blocked
- A $35.00 processing fee will be assessed
- Interest will be assessed at the end of every month
- Ordering transcripts and parchments, formerly referred to as diplomas, will be unavailable
- UBC Student Housing & Hospitality Services may refuse admission to residences, may withdraw residence and dining privileges, and may require a resident to vacate the premises
- Parking may withdraw parking privileges and tow vehicles
- The Library may withdraw borrowing privileges and electronic access
- Accounts severely past due can be sent to a collection agency
What registration activities will be blocked
- New course registration
- Registration in course wait lists
- Switching course sections
- Viewing your grades summary
- Ordering transcripts
Things that don’t happen when you’re on financial hold
- You will not automatically be dropped from your classes
- Your professors will not be notified
What to do if you’re on financial hold
The financial hold will be removed when the outstanding balance, including penalties, is paid in full. You should try to pay as soon as possible to avoid being charged further interest. The financial hold will only be removed once the payment has been processed by UBC.
Interest penalty
Interest will be charged at a rate of prime plus six percent per annum. Interest is charged on all outstanding amounts that are past due and is calculated toward the end of each month and will not exceed 60% per annum.
How to calculate interest charged
To find the interest charged at the end of each month follow the instructions below:
- Find the rate of prime
- Add six percent to the rate of prime to get your interest per year
- Divide your interest per year by 12 months
- This will be the interest charged on all outstanding amounts past due