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Late payment of fees
For more information on late payment of fees at UBC Okanagan.
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 fines, and Student Housing & Hospitality Services fees. The financial hold will be removed when the outstanding balance, including penalties, is paid in full.
What happens when you’re on financial hold
- Registration will be blocked (You are still able to drop/withdraw from courses before the course change dates.)
- A $35.00 processing fee will be assessed
- Interest will be assessed towards the end of every month
- Ordering transcripts and 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 and Access Control 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 collections agency
What registration activities will be blocked
Below is a list of registration activities disabled while on financial hold.
- New course registration
- Registering in course waitlists
- 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
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.
Please remember that the financial hold will only be removed once the payment has been processed by UBC. Payment processing times vary depending on how you paid.
Interest will be charged at a rate of prime plus 6% per annum. Interest is charged on all outstanding amounts that are past due and is calculated toward the end of each month. Anything else in this section notwithstanding, any amounts charged as penalties for the late payment of fees and accounts (including the Interest Penalty and the processing fee) will not exceed 60% per annum.
How to calculate interest charged
To find the interest charged towards the end of each month follow the instructions below.
- Find the rate of prime
- Add 6% 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