Word: fee
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...allowing some people to pay by plastic would have deleterious effects on the entire student population, Strauss says. Because credit card companies charge a nominal percentage fee on every purchase, Harvard would lose a small portion of each student's tuition paid by credit, thereby forcing the College to impose a flat fee across the entire undergraduate population to recoup the losses...
Strauss says that although many of the people who want to pay by credit card are willing to absorb the fee associated with their own charges, government banking regulations prohibit the selective assessment of such fees...
Rather than violate the law or assess every student a flat fee, Harvard simply avoids the issues altogether--limiting forms of payment to cash, checks or electronic wire transfers...
...says roughly 75 to 80 percent of all students at the extension school now pay for their courses with credit cards. And although the school does pay a fee to offer the service to students, Gravell-Santos says the policy is particularly beneficial to the extension school students--many of whom work part time in order to take class and rely on credit to help finance their education...
Students are automatically assessed a $20 "fee" on their term bills in order to fund the activities of the council. However, the fee is optional, and students can elect...