Payment Schedules

General Information

All students must make arrangements for payment of their fees prior to the start of each academic year. In order for students to be considered registered in the program, the required minimum amount of academic, ancillary, and incidental fees as stated on the fees invoice (Minimum Payment to Register Amount (MPRA) must be paid by the fees deadline.

The names of the terms used for the purposes of fees and on fees invoices (i.e. Fall and Winter, as used in the payment schedules below) may be different from how they are used for the purposes of academic courses and schedules at the Rotman School. Definitions can be found in Fees Invoice Sessions and Terms.

The Student Accounts website is the authoritative source for payment deadline and monthly service charge billing information.  These dates are set annually and released along with the invoices. While the Registrar Office’s website provides dates for your second/third year fees (beginning with Summer term) the dates provided on the Registrar Office’s website are estimates, and will be updated once the University dates have been released.

Full-Time MBA; Morning and Evening MBA; Master of Finance; Master of Financial Risk Management; and Master of Management Analytics

There are two categories for fee payments, each with a corresponding schedule:

1. Students With a Government Loan, or
2. Students Without a Government Loan

Note that only one category is applicable to each student. Students should read the information thoroughly to identify which payment schedule applies to them.

Students With a Government Loan

Students who have been assessed a government loan may use the government loan to pay fees. Acceptable loans include:

• Canada Student Loan, including provincial loans (e.g. Ontario Student Assistance Program (OSAP))
• US Direct Loans

Please note that standard government loan entitlements (for Canada and provincial loans) do not meet the Minimum Payment to Register Amount (MPRA). For Canadian and provincial loans, deferral requests are not necessary; simply pay the difference of the MPRA minus the September loan amount. Rotman School students must apply for Register Without Payment through the Registrar’s Office (RO) as they are unable to do so online through ACORN.

Term	Payment Due Date	Minimum Required Amount	Service Charge Begins	Monthly Service Charge Applied On
Fall	September 1	MPRA	October 15	Outstanding balance on all Fall term fees as of October 15
Fall	September 30	Fall term non-tuition fees	October 15	Outstanding balance on all Fall term fees as of October 15
Winter	January 31	Arrears + 100% of Winter term tuition and non-tuition fees	February 15	Outstanding balance on all fees as of February 15
All	30 April	All fees		Graduating students: Balance must be cleared to avoid academic sanctions

Students Without a Government Loan

Students without Canada, provincial, or US government loan would follow this schedule:

Term	Payment Due Date	Minimum Required Amount	Service Charge Begins	Monthly Service Charge Applied On
Fall	September 1	MPRA	October 15	Outstanding balance on all Fall term fees as of October 15
Fall	September 30	Fall term non-tuition fees	October 15	Outstanding balance on all Fall term fees as of October 15
Winter	November 30	Arrears + 100% of Winter term tuition and non-tuition fees	December 15	Outstanding balance on all fees as of December 15
All	April 30	All fees		Graduating students: Balance must be cleared to avoid academic sanctions

Executive MBA

Term	Payment Due Date	Minimum Required Amount	Service Charge Begins	Monthly Service Charge Applied On
Fall	September 1	100% of Fall term fees	October 15	Outstanding balance on all Fall term fees as of October 15
Winter	November 30	Arrears + 100% of Winter term MPRA	December 15	Outstanding balance on all fees as of December 15
Summer	May 11	Arrears + 100% of Summer term MPRA	June 15	Outstanding balance on all fees as of June 15
Fall	September 1	Arrears + 100% of Fall term fees	October 15	Outstanding balance on all Fall term fees as of October 15
	April 30	All fees		Graduating students: Balance must be cleared to avoid academic sanctions

Global Executive MBA

Refer to the GEMBA website (website coming soon) for information.

Global Executive MBA for Healthcare and the Life Sciences

Term	Payment Due Date	Minimum Required Amount	Service Charge Begins	Monthly Service Charge Applied On
Fall	September 1	100% of Fall term fees	November 15	Outstanding balance on all Fall term fees as of November 15
Winter	November 30	Arrears + 100% of Winter term MPRA	December 15	Outstanding balance on all fees as of December 15
Summer	May 11	Arrears + 100% of Summer term MPRA	June 15	Outstanding balance on all fees as of June 15
Fall	September 1	Arrears + 100% of Fall term fees	October 15	Outstanding balance on all Fall term fees as of October 15
Winter	November 30	Arrears + 100% of Winter term MPRA	December 15	Outstanding balance on all fees as of December 15
	April 30	All fees		Graduating students: Balance must be cleared to avoid academic sanctions

Service Charges

All outstanding balances, regardless of the source of the payment, are subject to a service charge of 1.5% per month compounded (19.56% per annum), assessed on the 15th of each month until payment is made in full. Program administration reserves the right to suspend those in arrears from participating in future classes.

Graduate Diploma in Professional Accounting

Payment Due Date	Minimum Required Amount	Service Charge Begins	Monthly Service Applied On
May 10	Arrears + 50% tuition fee (Recommended to pay 100% tuition fees)	June 15	Outstanding balance on all fees as of June 15
May 31	Non-tuition fees	June 15	Outstanding balance on all fees as of June 15
August 31	All fees		Balance must be cleared to avoid academic sanctions

Note: Although the MPRA only requires payment of 50% of the program fees, it is strongly recommended students pay 100% of their fees at this time to avoid service charges that will begin on June 15. This will eliminate the need to make two payments within a relatively short period of time.

Any payments/credits to student accounts will affect Account Balance Up to the End of the Session, but not the MPRA. The MPRA is a static figure presented on the fees invoice. Once a fee payment is made, the MPRA line will no longer appear on the fees invoice.

Service Charges

Starting June 15, a monthly service charge of 1.5% compounded (19.56% per annum) is billed and calculated on the balance, as reflected on the student account as of the 15th of each month.

Service charges are calculated on the outstanding amount as posted on ACORN by the specified dates, regardless of when the payment was made. For this reason, students are strongly advised to pay careful attention to outstanding account balances and to pay fees by the end of the month previous to the service charge billing date. This will help ensure that their payment is processed and is reflected before the service charge billing on the 15th of each month.

Rotman Deposits

Deposits paid to accept your admission to the Rotman School will be applied and reflected in the Payments section of the fees invoice.

Late Registration

Penalties or interest charges may be applied for late payments.

If payment is not processed by the University and reflected on students’ ACORN account by September 13 (or January 10 for students registering in the Winter session only), they will see that their invitation to register will be automatically cancelled on ACORN (i.e. Financially Cancelled (FINCA)) and they will be removed from their courses.

There is still an opportunity to register late:

1. Complete the online Late Registration form and online payment on the School of Graduate Studies (SGS) Portal (using UTorID credentials to login) and pay the late registration fee. Once completed, SGS will change the student’s ACORN status to “INVIT”, which will allow them to register.
2. Make payment, show proof of payment, and register at SGS.
3. Courses will then be re-added, and the student’s ACORN status will change to “REG”, meaning that their registration has been confirmed for the academic year.

Students will still need to monitor their student account throughout the year and pay any outstanding fees according to their payment schedule.

Calculating Unpaid Fall Term Fees

The deadline to make payments for Fall term fees (tuition and non-tuition fees, such as residence) is 30 September. If not paid in full, a monthly service charge of 1.5% compounded (19.56% per annum) will be applied on the ACORN balance as of October 15.

The ACORN invoice does not display the Fall term fees outstanding in a separate line, instead students must calculate that amount on their own. Here’s how:

• Unpaid Fall Term Fees =
  • (A) ACORN Account Balance Up to the End of the Session
    – (B) Winter Term Sub-Total amounts (listed under Tuition Charges)
    – (C) Winter Term Sub-Total amounts (listed under Tuition Charges)

• E.g.
  • $14,450.00 (A)
    – $6,601.50 (B)
    – $652.19 (C)
    = $3,573.31 (Unpaid Fall Term Fees)

Last Updated: 2023-04-03 @ 12:34 pm

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