Making an Academic or Residence Deposit Payment

Making an Academic or Residence Deposit Payment

· Residence Deposit Payment Instructions  

· Academic Deposit Payment Instructions 

· Residence or Tuition Fee Payment Instructions

Residence Deposit Payments

Students who are required to make a deposit payment to their residence office to apply for and/or hold a place in a residence will be informed by residence staff of the requirement up to two sessions prior to moving into the residence. These requirements include the payment amount, deadline and payment options, which will be communicated to students by residence staff.

Many of the residences offer credit card residence deposit fee payment option and these deposit payment will be recorded in the student’s ACORN account.  Otherwise, residence staff will forward residence deposit payment information to the Student Accounts Office so that these deposit payments can be recorded in the student’s ACORN account as an unapplied credit in the session in which the student will move into the residence. The unapplied credit in the future session is protected from being applied to any fees owing for the current or prior session. When the residence fees are billed, then the unapplied credit will be applied to residence fees.

If there are no unpaid current or prior session fees, then the overall ACORN account balance displayed on the SWS homepage and on the Financial Accounts page will be a credit in the amount of the deposit payment, the current session ACORN Invoice Amount will $0 and the future session ACORN Invoice Amount will be a credit in the amount of the deposit payment (e.g. $350.00 CR).

If there are unpaid current or prior session fees, then the deposit payment will not be applied to the unpaid current or prior session fees, the amount owed is not the same as the overall ACORN account balance displayed on the SWS homepage or the Financial Accounts page. The amount owed for the current or prior session is the:

a) Invoice Amount on the current session ACORN Invoice.

b) Balance Brought Forward Amount on the future session ACORN invoice. Note that the Invoice Amount includes the unapplied credit and is the amount owed up to the end of the future session.

Example:

On June 2, 2018, the student makes a $600 New College residence deposit payment to hold place in residence for the Fall 2018-Winter 2019 session. On June 9, 2018, Student Accounts records the $600 New College residence deposit payment as an unapplied credit against the Fall 2018 term displayed on the Fall 2018-Winter 2019 invoice (even though the payment was received in the Summer 2018 session). The deposit payment will not be included in the Summer 2018 ACORN Invoice Amount, but rather will be included in the Fall 2018-Winter 2019 ACORN Invoice Amount.

On June 9, 2018, if there are no unpaid Summer 2018 session fees, then the overall ACORN account balance displayed on the SWS homepage and on the Financial Accounts page will be a credit of $600.00, the Summer 2018 ACORN Invoice Amount will $0 and the Fall 2018-Winter 2019 ACORN Invoice Amount will be a credit of $600.00.

On June 9, 2018, if there are unpaid Summer 2018 or prior session fees, then the deposit payment will not be applied to the unpaid summer or prior session fees, the amount owed is not the same as the overall ACORN account balance displayed on the ACORN homepage or the Financial Accounts page. The amount owed for Summer 2018 or prior session is the:

c) Invoice Amount on the Summer 2018 ACORN invoice.

d) Balance Brought Forward Amount on the Fall 2018-Winter 2019 ACORN invoice. Note that the Invoice Amount includes the unapplied credit and is the amount owed up to the end of the Fall 2018-Winter 2019 session.

Please note that residence deposit payment methods and instructions are different than the payment methods and options for paying your residence fees. Information about paying your residence fees can be viewed on our Making a Payment webpage.

Academic Deposit Payments

Students who are required to make a deposit payment as a requirement to hold a place in an academic program will be informed of the requirements by program admissions staff up to two sessions prior to entering the academic program. These requirements include the payment amount, deadline and payment options.

The majority of academic deposit payments are forwarded to the Student Accounts Office. The money order or certified cheque must be accompanied by a copy of the admissions letter (which includes the student name and number, and the program name and code to ensure that the payment is recorded accurately. Student Accounts staff will record the deposit payment as an unapplied credit on the student’s ACORN Payment report and the ACORN invoice against the session in which the student will enter the program.

Some program offices will receive academic deposit payments, and then will forward residence deposit payment information to the Student Accounts Office so that these deposit payments can be recorded in the student’s ACORN account as an unapplied credit in the session in which the student will move into the residence. The unapplied credit in the future session is protected from being applied to any fees owing for the current or prior session. When the tuition fees are billed, then the unapplied credit will be applied to tuition fees.

If there are no unpaid current or prior session fees, then the overall ACORN account balance displayed on the ACORN homepage and on the Financial Accounts page will be a credit in the amount of the deposit payment, the current session ACORN Invoice Amount will $0 and the future session ACORN Invoice Amount will be a credit in the amount of the deposit payment.

If there are unpaid current or prior session fees, then the deposit payment will not be applied to the unpaid current or prior session fees, the amount owed is not the same as the overall ACORN account balance displayed on the ACORN homepage or the Financial Accounts page. The amount owed for the current or prior session is the:

a) Invoice Amount on the current session ACORN invoice.

b) Balance Brought Forward Amount on the future session ACORN invoice. Note that the Invoice Amount includes the unapplied credit and is the amount owed up to the end of the future session.

Example:

On April 2, 2018, the student makes a $200 B. Education academic deposit payment to hold place in the program for the Fall 2018-Winter 2019 session. On April 7, 2018, Student Accounts records the $200 B. Education academic deposit payment as an unapplied credit against the Fall 2018 term displayed on the Fall 2018-Winter 2019 invoice (even though the payment was received in the Winter 2019 term). The deposit payment will not be included in the Summer 2018 ACORN Invoice Amount, but rather will be included in the Fall 2018-Winter 2019 ACORN Invoice Amount.

On April 7, 2018, if there are no unpaid Summer 2018 session fees, then the overall ACORN account balance displayed on the ACORN homepage and on the Financial Accounts page will be a credit of $200.00, the Summer 2018 ACORN Invoice Amount will $0 and the Fall 2018-Winter 2019 ACORN Invoice Amount will be a credit of $200.00.

On April 7, 2018, if there are unpaid Summer 2018 or prior session fees, then the deposit payment will not be applied to the unpaid summer or prior session fees, the amount owed is not the same as the overall ACORN account balance displayed on the SWS homepage or the Financial Accounts page. The amount owed for Summer 2018 or prior session is the:

c) Invoice Amount on the Summer 2018 ACORN invoice.

d) Balance Brought Forward Amount on the Fall 2018-Winter 2019 ACORN invoice. Note that the Invoice Amount includes the unapplied credit and is the amount owed up to the end of the Fall 2018-Winter 2019 session.

Please note that residence deposit payment methods and instructions are different than the payment methods and options for paying your residence fees. Information about paying your residence fees can be viewed on our Making a Payment webpage.