Payment plan with Flywire

The Spring 2022 payment plan details are not completely finalized yet. However, please note the following changes:

  • Sign up period will be December 13, 2021 – January 21, 2022.
  • The minimum account balance to sign up is $1,000.

Please check back in early December for sign up details. If you have questions, contact student_accounts@sfu.ca.

Payment plan for Fall 2021 term with Flywire

Students signed up on the Payment Plan will be charged a 2% monthly interest charge after the due date (September 21, 2021) and on the first of each month thereafter.

Accounts paid in full by the established tuition payment deadline of September 21, 2021 will not incur monthly interest charges.

Payment plan students agree to pay the Fall 2021 fees and monthly interest charges in four installments.

Scheduled payment dates are September 1, October 1, November 1, and December 1.

  • Signing up for the Payment Plan allows students to add/drop classes for the Spring 2022 term and order transcripts while having an outstanding Fall 2021 balance.
  • As long as your plan status is Active (i.e., fulfilled the installment requirement indicated at Flywire), you may enroll in Spring 2022.
  • If the payment requirement is not met, the plan status will change to “Defaulted,” at which time the Fall balance must be paid in full immediately.
  • If you are uncertain about your finances, it is your responsibility to be more conservative in committing yourself to classes.
  • Last day to sign up for the Fall 2021 term is November 1, 2021.

Payment Plan Sign-Up

Payment Plan sign up details (starts August 16):

  • Log in to your student account at goSFU, scroll down to the Finances section, click "Account Inquiry," and then click "Payment Plan.”
  • Three steps to complete the set-up process:
    1. Sign Up
    2. Wait for the email notification to finalize your plan; then
    3. Click the Activate button to set up your payment plan.
  • Check your scheduled payment amount at Flywire after you have Activated your plan.
  • You will be receiving emails to remind you of the upcoming scheduled payment.

How to pay:

Your payment must be reflected on your goSFU account by the scheduled payment date. Missed payment(s) will change the plan status to “Defaulted.”

Make payments early through Internet Banking or Flywire:

FAQs

Do I need to pay an installment on the tuition deadline of September 21 2021?

Students are expected to pay the Fall 2021 term fees in full by the established tuition deadline of September 21 2021. 

Students unable to pay their full balance may elect to enroll in the SFU Payment Plan. The scheduled payment dates for students on the SFU Payment Plan are: September 1, October 1, November 1 and December 1.

Will I have monthly interest charges if I am enrolled in the payment plan?

Yes, you will be assessed monthly interest charges even if enrolled in the payment plan so long as you have an outstanding balance. Interest is assessed after the tuition due date (September 21) and the first of each month thereafter.

What happens if my payment is late?

Missing an installment date will cause your payment plan status to default, and your account will not be considered as good standing.

The status of my payment plan is “Defaulted.” What does this mean?

This means you did not fulfill the installment requirement that you agreed to when you signed up for the Payment Plan. When the plan status changes to ‘Defaulted,’ the term balance must be paid in full immediately.

What installments do I pay if I enroll in the payment plan after 1 September 2021 or 1 October 2021?

  • 1 September 2021: Installments will be: October 1, November 1 and December 1
  • 1 October 2021: Installments will be: November 1 and December 1

What happens to my installment amounts if I add/drop classes or receive a bursary/scholarship?

If you drop classes or receive a bursary/scholarship, it will be considered a payment towards your next installment. If you add courses, your payment plan will reflect a higher overall account balance. The resulted new balance will trigger the installment amount to be recalculated.

Can I make an installment payment early? Can I pay in full early?

Yes, you can make a payment towards the installment early or pay off the entire account balance before the December 1 deadline.

Can I pay multiple times for one installment or does it need to be one payment?

Yes, you can make multiple partial payments towards one installment. As long as the entire installment amount is paid by the scheduled deadline, it will be considered paid and your payment plan will remain in good standing.

Am I required to pay on the first of each month or does my payment need to arrive at SFU by the first of each month?

Your payment must show on your goSFU account by the 30th of each month. We recommend making payments three (3) business days (internet banking) or five (5) business days (Flywire) prior to the deadline to allow enough time for the payment to be processed.

Will my installment be late if I sign-up on a schedule payment date?

Yes, your installment will be late. We recommend signing up at least one week before the scheduled payment date so you will have enough time to activate your payment plan and prepare funds to make a payment to meet the installment deadline.

I haven’t received my activation email yet and it’s almost the first of the month. Should I make my first payment?

Any payments made while not on an active payment plan will reduce your goSFU account balance and any monthly interest charges. Once the plan is activated, your payment plan balance will reflect the remaining goSFU account balance from that date.

I’ve made a payment or dropped a class today and my payment plan at Flywire hasn’t updated.

Please allow 1-2 business days for Flywire to update and reflect any payments/changes made.

How do I pay?

Internet Banking payments from a Canadian bank account show in your goSFU account in approximately three business days, www.sfu.ca/students/fees/howtopay/internet-banking.html

Payments from outside Canada via Flywire will show in your go SFU account in approximately five business days, www.sfu.ca/students/fees/howtopay/payments-from-outside-of-canada.html

How do I auto-pay?

Internet Banking allows you to set up recurring payments. For assistance in setting up recurring payments, please contact your Canadian financial institution.

What happens if I am unable to pay off the account balance by the end of the payment plan? (December 1 installment deadline)

  1. You did not fulfill the installment requirement. The plan status will change to ‘Defaulted,’ at which time the Fall balance must be paid in full immediately; OR
  2. You must drop the Spring 2022 classes on goSFU because a “zero” balance for the Fall 2021 term is required for you to keep your Spring 2022 classes; and
  3. You are now required to set up a payment plan with the SFU Collections department in order to pay the outstanding Fall 2021 balance without damage to your credit.

The SFU Collections payment plan comes with the following conditions:

  • Prevents your account balance from being assigned to a credit agency, preserving your credit.*
  • Allows you to pay off your Fall 2021 term balance via monthly installments over a maximum period of up to six months. The payment plan also allows you to pay in full anytime.
  • The financial hold will block enrollment in a subsequent term; and block release of official transcripts. A zero balance will bring your account back to good financial standing.
  • Payment plan balances are assessed a 2% monthly interest charge after the due date (Sepember 21 2021) and on the 1st of each month thereafter.

    * Any damage to credit results in reduced amounts and higher interest rates for future loans

 

For any questions regarding payment plans, email  student_accounts@sfu.ca or phone 778-782-6930, extension 2242.