Word: fees
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Dates: during 2000-2009
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...more than $4,000,” Sing said. “As a Ph.D. grad student, I receive a monthly stipend of a little less than $2,000, after taxes. You can do the math. The monthly stipend does not allow you to pay off the $4,000 fee using the lump-sum method...
According to Ellen McCullough, a customer service manager at the Student Financial Services office, the fee is necessary to help the University make up for the income lost when a bill is paid on a monthly basis...
...you’re billed for something and you pay it right away, it’s obviously more beneficial to the University,” she said. “When you pay it out over time, the benefit is reduced, and so in a small way, the fee that is charged for the monthly payment plan helps make up for that lost receivables over time...
McCullough added that the fee also serves as a disincentive to paying over time...
...things that I realized is that a lot of people were frustrated with the fee,” he said. “But because the fee is sort of this official Harvard thing...the thought never crossed their minds that they could actually do something about...