Student Accounts & Cashiers
Financial Terms and Conditions for Enrolment
By enrolling in courses, you are agreeing to these terms and conditions and are responsible for:
- Payment for your course selections in full (or in part by associated cancellation fees) for each academic term.
- Understanding and complying with the published financial Payment Due Dates. Failure to meet payment due dates will result in monthly interest charges, late payment fees, enrollment blocks, reduction in student services and potential cancellation of enrollment.
- All activity on their student account, therefore, regularly reviewing your online student account (Student Center - Finances section) to ensure all charges are as expected, all payments sent have been received and all balances are paid in full
- Following up with all communication from the university regarding their account, including but not limited to, email, portal MOSAIC messages, automated voice messaging, letters, etc).
- All past-due balances are subject to collections activity
- McMaster reserves the right to request pre-payment for enrolment, or refuse payment options that are not within the acceptable risk, such as for students who have prior poor credit with the university
- Student's withdrawing from the university are required to remove their courses by dropping or cancelling. Fees will be assessed to the date of withdrawal.
Interest is charged at a rate of 1.2% month (compounded to 14.4% anually). A full month's interest is calculated on the unpaid balance on the 2nd last day of each month, starting September 29. RATES ARE SUBJECT TO CHANGE by McMaster.
Please refer to Important Dates and Deadlines for detailed information regarding dates and fees.
General Financial Information (from the Undergrad Calendar)
- Upon receiving official acceptance from the Registrar’s Office and upon enrolment, you are responsible for the payment of all fees.
- if you refuse to pay fees, or any part of the fees, you may be refused admission to the University or you may be requested to withdraw with all privileges suspended.
- Payment of academic fees does not imply your acceptance to the University. Academic requirements have to be fulfilled before your enrollment is completed.
- If you are a new student, you may not forward academic fees to Financial Services until you have received your Letter of Acceptance.
- You should not send residence fees unless you have received notification of room assignment.
- It is the policy of the University not to accept enrollment until all previous accounts are paid in full. Any payments received are, therefore, first applied to previous debts and any balances to the most recent debts.
- You will not be eligible for any grades, examination results, transcripts, diplomas or the payment of awards of any kind, until fees and any other accounts owed to the University are paid in full. NOTE: Graduands who have outstanding accounts with the University will be permitted to attend convocation, but will not receive their diplomas until their accounts have been cleared in full.