Students' accounts are considered delinquent if they are not paid in full within 60 days after the bill is issued. McGill places a financial hold on these accounts, preventing students from obtaining official academic transcripts and from accessing Minerva for any registration functions.
Interest is charged on overdue balances at the monthly rate of 1.24%, multiplied by the balance outstanding at the end of the month (14.88% annually). The rate is evaluated each Spring, and then is set for the following academic year.
The University has no obligation to issue any transcript of record, award any diploma, or re-register a student if you do not pay your tuition fees, library fees, residence fees, or loans by their due date.