Why did the South Dakota University System make the changes?
During the 2004-05 academic year, credit card companies assessed the University System approximately $500,000.00 in bank fees to process tuition and fees made with credit and debit cards. Due to bank surcharges and other complications with credit card processing, many colleges and universities do not accept credit card tuition payments at all. Because we cannot continue to justify paying these processing fees, the University System has considered dropping this payment option. However, we recognize that many students and their families appreciate the convenience of using a credit and debit card, and we have searched for alternatives. The savings realized from the reduction of paying bank fees will provide additional funds to support instructional programs.
