Concordia University

http://www.concordia.ca/content/concordia/en/admissions/tuition-fees/how-fees-are-billed/goodman.html

Goodman Institute of Investment Management

The University reserves the right to modify the published scale of tuition and other student fees without prior notice. This document contains the most current information on the University's Financial Regulations and Fees and is the authoritative document regarding the University's financial regulations as well as the billing of tuition and compulsory fees.

A. How fees are billed

1. Privatized graduate programs

Goodman Institute graduate degree programs are not funded by the Quebec Ministry of Higher Education and are therefore considered to be privatized programs.

2. How and when fees are billed

Students admitted to a Goodman Institute graduate degree program normally register for fall and winter term courses at the beginning of September. Upon registration, annual tuition fees are charged to the student's account. The student's account is accessible through the student's portal at www.MyConcordia.ca under the menu item "Student Account Services".

3. Prerequisite and deficiency course fees

deficiency course is a course which must be taken in addition to the nominal credits in a student's program and does not apply to the degree program. Deficiency credits may include graduate or undergraduate courses.

All deficiency and prerequisite registered course credits that do not apply to the student's Goodman Institute degree program will be charged tuition and compulsory fees on a "per credit" basis. These fees are charged in addition to, and concurrently with, the annual program fees charged.

Information and a breakdown of tuition and compulsory fees for Master's and PhD programs is available on the Tuition and fees webpage.

4. "Elective" and 'Hors programme' courses

Courses that cannot be applied to the student's degree program are considered to be "elective" or 'cours hors programme' and are charged tuition and compulsory fees on a "per credit" basis. These fees are charged in addition to, and concurrently with, the annual program fees charged.

5. Health insurance for International students

Immigration Quebec services and the Ministère de l'Éducation, de Loisir et du Sport du Québec (Quebec government) require that all International students be covered by a health insurance plan while studying and living in Quebec. To this end, the University has implemented a compulsory health and accident insurance plan for its International students.

Note:
International students possessing Québec Medicare cards or certain private insurance coverage may be eligible for an exemption from enrolment in the compulsory insurance plan. To apply for the exemption or for further information please speak with the Assistant Director of the GIIM.

B. Goodman Institute program fees

Master's of Business Administration in Investment Management $ 18,000 per year
Master's in Investment Management $ 18,000 per year
Diploma in Investment Management $ 18,000 per year

C. Financial obligations

1. Overview

In order to register, a student's account must be in "good standing" (i.e. the student has no outstanding balance or monies owing from a previous or current term). Once a student has registered for a course(s) or course notation, e.g. CIP, STOQ, the student becomes responsible for payment of the resulting fees. Fees become due at the start of each term.

2. Payments, payment deadlines and what fees must be paid

For the purpose of this document, the definition of the words "payment" and "paid" is:

"A student's account is considered to have been paid only when the student's payment appears on the student's account."

The student's payment must appear on the student's account no later than the published payment deadline date. If the student makes a payment at his/her bank or on the bank's online payment service, and if that payment is made on the actual payment deadline date, or one or two days before the payment deadline date, the payment will not appear on the student's account until after the deadline, and the late payment penalties may apply.

All monies owing to the University (such as tuition and compulsory fees, library fines, etc.) must be paid when they become due; that is, the payment must appear on the student's account no later than the payment deadline date.

Student's Account balance is available on the student portal (under the MyConcordia Menu » Student Accounts Services » Student's Account). Payment deadline dates are available under the Fee Payment Deadlines heading and on the Student's Account. No printed invoices or statements of account are issued by the University for students who are currently registered in a course or course notation (e.g. CIP).

3. When are fees due and when must fees be paid?

Fees become due at the start of each term and must be paid in full by September 30th. A late payment fee of $100 will be charged on October 1st if fees are not paid in full.

Beginning December 1st, compounded monthly interest fees are charge on all overdue balances.

Note 1: 
No printed invoices or statements of account will be issued by the University. If someone other than the student will be paying the student's fees, e.g. a sponsor, company, etc., the student must make sure that the person or company paying the fees is fully aware of the payment deadlines and methods by which payment can be made.

Note 2: 
Payments made through a bank's online payment service takes approximately 3 to 5 business days to appear on the student's account. Other payment methods may also take several days to appear on the student's account. Please keep this mind when meeting a payment deadline.

4. Methods of payment

The University will not accept cash or credit cards for the payment of student tuition and compulsory fees. Payments can be made by

  • Students who bank with the Bank of MontrealTD Canada Trust*Scotiabank or the Royal Bank of Canada may take advantage of this online payment service. The payment appears on the student's account the instant the payment is approved. Access this service through the student portal (www.MyConcordia.ca). Once you are logged in, navigate to: My Student Centre » make a payment » Tuition & Fees -INTERAC Online.

    *Please note: TD Canada Trust clients with an access card containing both the Interac and Visa logos are not set up to access the Interac Online Payment service. 
  • Online/web banking or telephone banking service offered by Canadian chartered banks. Each bank's processing time varies and it normally takes a minimum of 3 - 5 business days for the payment to appear on a student's account.

    If you pay tuition via online banking please use your new 8-digit student ID. To do so, Set up Concordia University as a payee and use the 8-digit student ID number as the Concordia account number.

    Returning students, who do not have a new 8 digit ID card*, are encouraged to update their Concordia account number with their financial institution to the new 8 digit ID format. Add a 2, good as new! You’ll need to add a 2 at the beginning of the 7-digit number sequence to create an 8-digit ID number.

    *For sustainability and cost reasons, Concordia will not be issuing new ID cards for students with 7-digit ID cards. You will continue to use your existing ID card for the remainder of your studies at the university, but any replacement cards will feature the new 8-digit ID.
  • Automatic teller machines (ATM) in Canada.
    If you pay tuition at a Canadian banking institution please use your new 8-digit student ID. To do so, Set up Concordia University as a payee and use the 8-digit student ID number as the Concordia account number.

    Returning students, who do not have a new 8 digit ID card*, are encouraged to update their Concordia account number with their financial institution to the new 8 digit ID format. Add a 2, good as new! You’ll need to add a 2 at the beginning of the 7-digit number sequence to create an 8-digit ID number.

    *For sustainability and cost reasons, Concordia will not be issuing new ID cards for students with 7-digit ID cards. You will continue to use your existing ID card for the remainder of your studies at the university, but any replacement cards will feature the new 8-digit ID.
    Note:
    Each bank's processing time varies and it normally takes a minimum of 3 - 5 business days for the payment to appear on a student's account.
  • personal or certified cheque, money order or bank draft can be mailed as follows. The cheque must be made payable toConcordia University and a legible 8-dgit student I.D. number must be written on both the front and back of the cheque. The cheque payment is mailed to

    Concordia University
    c/o Student Accounts Office
    Postal Box 339
    Place d'Armes Post Office
    Montreal, QC H2Y 3L9

    Note:
    All corrections made to a cheque, e.g. wrong date, amount, etc. must be initialled by the bank account holder. Otherwise, our bank may not process the cheque, the cheque will be returned to the student and the student will be charged a returned item processing fee.

    Students can avoid mailing and processing delays by preparing a post-dated cheque, making it payable on the deadline date and mailing it well ahead of the payment deadline date. Our bank will process the payment on the date noted on the cheque and the payment will appear on the student's account by the payment deadline date. The student will not be charged a late payment fee or interest for any cheque that is negotiable (dated) on the deadline date, e.g. September 30th for fall term fees.
  • Online Credit Card Payment
    Students can pay tuition fees online using Visa or MasterCard through a credit card service arrangement with Moneris Solutions Corporation.

    Moneris will charge a 1.75% non-refundable convenience fee for using this service.

    Concordia has made a credit card payment option available by popular demand, but recommends students first consider other methods of payment that do not incur interest charges or convenience fees.

    Access this service through the student portal (www.MyConcordia.ca). Once you are logged in, navigate to: My Student Centre » make a payment » Tuition & Fees -MasterCard.
  • International Wire Transfer Payment

    U.S. and International students are able to log on to their student portal to use Concordia University's International Wire Payment service offered through Western Union. Western Union allows U.S. and International students to pay for their tuition in the currency of their choice, while providing a simple and reliable way of initiating payments electronically.

    Access this service through the student portal (www.MyConcordia.ca). Once you are logged in, navigate to: My Student Centre » make a payment » Tuition & Fees -International Wire Transfer.

    Select your payment currency and finalize your transaction to guarantee your exchange rate.

    Please read the conditions stated on the confirmation screen carefully.

    As the exchange rate is only valid for 72 hours the Payment Confirmation Form must be taken to your local bank within 1 to 3 days.
  • In-person payments
    In-person payments made at the Birks Student Service Centre in S-LB-185 can be made by personal or certified cheque, money order, bank draft or debit card (Interac).

    Note:
    Canadian banks limit the "daily" amount that can be withdrawn with a debit (Interac) card even if the monies are available in the student's bank account. Before going to the Birks Student Service Centre to pay a large sum by debit card, students are asked to contact their bank to advise them that a large payment will be made. The bank should also be advised of the amount of the payment. Your bank will temporarily lift the "per day" limit, and your payment will be processed by Concordia without undue delays.

5. Other payment methods

  • Students whose fees are paid to the University by a "Sponsor" (e.g. government, embassy, corporation, etc.) must present original proof of sponsorship to the Student Accounts Office before the payment deadline date. The Student Accounts Office will invoice the sponsor directly. Any fees not covered by the student's sponsor must be paid by the student no later than the payment deadline date.
  • Payroll deductions may be available to teaching and research assistants and certain Concordia employees. The student must go to the Payroll Office in S-FB-1120 to complete and submit a Payroll Deduction form.

6. Consequences for late payment and/or non-payment of fees

  1. Accounts registration restrictions; registration and course changes 

    An Accounts Restriction will be applied to any student's account with an outstanding (overdue) balance. Students with an accounts restriction will be withdrawn from all future waitlisted courses and will not be permitted to register for, or make course changes to an existing registration in a current or future academic term. Students are permitted to drop a course(s) or withdraw from their program of study at any time. 
    Courses for which a student has registered in the current and future academic terms are not cancelled and the student is not barred from attending class, sitting for "in-class" examinations, or submitting course work.

  2. Release of official transcripts and other official documents 
    Failure to make payment when a fee becomes due is sufficient cause for the University to bar a student from having access to Library and IT services, accessing some student portal services including but not limited to: My Class Schedule, My Book List, My Grades, Transcript, Registration excluding withdrawals from a course(s), Get a Locker, Student Parking, and the Continuing Education menu items such as Transcript, Class Schedule or Contract. 
    Failure to make payment when a fee becomes due is sufficient cause for the University to withhold diplomas, scholastic certificates, official and unofficial transcripts of academic record plus letters of attestation of academic standing, confirmation of enrolment, confirmation of grades or completion of program, financial standing, immigration status, degree verification, detailed statements of account, special company/tuition receipts and so on. 
    Transcripts for students with outstanding balances on their student account will be released under the following circumstances only: 
    • to internal competitions and external funding agencies when the release of the transcript is necessary for the student to continue in, or complete their studies and/or research at Concordia University; and,
    • for applications to a Concordia University program.
    All other requests for official transcripts or other documents will not be granted.
    Students with an Accounts Restriction are not permitted to attend Convocation. An Accounts Restriction is automatically removed when the outstanding (overdue) balance is paid in full.

7. When miscellaneous fees/charges become due

Miscellaneous fees (e.g. locker fees, fines, etc.) are due 30 days from the date that the charge is posted to the student's account. After that date, late payment and interest fees are applied to unpaid balances.

8. Adjustments to a student's account

All accounts are subject to revision for changes to the published scale of fees (which may be made without prior notice at or before the beginning of an academic term), registrations of record and for the adjustment of errors or omissions, as well as in the case of courses cancelled by the University.

9. Returned items (e.g. cheque payments)

Current and/or future registrations may be cancelled if a cheque or credit card payment (e.g. application fee) is returned for any reason. A returned items processing fee will be charged for each returned item.

10. Delinquent student accounts

If monies owing to the University are not paid when they become due the monies owing will be considered to be overdue and the student's account will be considered to be delinquent.

11. Delinquent accounts collections

Overdue payments and delinquent accounts are managed as follows:

  1. Late payment fee 
    Annual fees must be paid in full by September 30th or a late payment fee of $100 will be charged to the student's accounts.
  2. Interest fees 
    Beginning December 1st, monthly interest fees are charged on all overdue balance at the rate of 6% per annum (or 0.5% per month, compounded monthly). This rate may change from time to time in conformity with prevailing interest rates.
  3. Collection of a delinquent account
    The Student Accounts Office will 
    1. send an e-mail to the student's e-mail address on record as a reminder that the student's account has become delinquent and that the account will be placed with a collection agency if payment is not received within a specified period of time; or
    2. send a statement of account or letter to the student's mailing address on record as a reminder that the student's account has become delinquent and that the account will be placed with a collection agency if payment is not received within a specified period of time; and
    3. place the account with a collection agency if payment has not been received within the period of time noted on both the e-mail and letter reminders.
    The University reserves the right to proceed by way of legal action.

D. Refund of fees (financial credit on account or refund)

1. Overview

No refund will be granted for any course(s) for which the student has or will receive a grade, including grade notations, e.g. discontinued (DISC), etc. Once a student has enrolled in a Master's/Magisteriate or Ph.D. program and is registered for a course or a course notation, e.g. CIP, STOQ, he/she is responsible for the payment of the resulting fees.

2. Withdrawal from a course(s)

GIIM students are not granted a refund of fees paid, or a financial credit on account, when they withdraw from a course. Program fees are not reduced or refunded.

3. Withdrawal from a Goodman Institute program

Upon withdrawal from a Goodman Institute program the $2,000 non-refundable deposit is forfeited. Fifty percent (50%) of the remaining program fees will be credited to the student's account if the student officially withdraws from their degree program before October 31st.

No fees will be credited to students who withdraw from their degree program after this date.

4. Requesting a refund

Students may leave a credit on their student account and it will automatically be applied to fees owing in the next semester(s). All refunds under $10 will only be refunded by Interac (debit card) at the Birks Student Service Centre, S-LB-185.

All refunds of $75 and more will only be refunded by cheque. All requests for a cheque refund must be submitted online through the student portal at www.MyConcordia.ca, My Student Centre > Finances > other financial… (drop down menu) > Refund Request. Cheque refunds are automatically made payable to the student unless the student asks that a cheque refund be made payable to a third party, e.g. a parent, spouse, etc.  In that case, the student must provide the name and mailing address of the third party payee.

When the refund pertains to the current academic term, the refund will only be processed after the covering deadline for withdrawal with full refund (DNE deadline).  Verification of the student's account may take some time, especially during peak refund request periods.  A cheque refund is normally mailed within 10 business days of the deadline for withdrawal with full refund (DNE) deadline and the student's online request.

When students request a refund for credit balances created by scholarship, bursary, loan and other student award disbursements, all efforts to expedite the refund as quickly as possible will be made.  In these cases only, the student may request a refund by Interac (debit card) for a maximum of $1,000 at the Birks Student Services Centre and submit an online request asking that the remaining credit balance be reimbursed by cheque refund.  Or, the student may submit an online request for the full refund.

International students requiring a refund by wire transfer must be submitted online through the student portal at www.MyConcordia.ca, My Student Centre > Finances > other financial… (drop down menu) > Refund Request. A wire transfer refund is normally processed within 10 business days of the deadline for withdrawal with full refund (DNE) deadline and the student's online request. The student will assume the cost of the wire transfer. The cost of the wire transfer will be deducted from the amount of the refund transferred by wire. Please note that requests for wire transfers to a Canadian or U.S. bank will not be processed. Canadian and U.S. students must submit a cheque Refund Request as noted above.

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