Payment Methods (Remittance)
Payments for the Fall Semester must be received by August 31 each year in order to avoid late payment penalties.
Payments for the Spring Semester must be received by the first business day in January each year in order to avoid late payment penalties.
- E-Payments: Once logged into your account online, a valid checking/savings account ($1 processing fee) or a credit/debit card (2.65% processing fee) can be used. We currently accept Visa, MasterCard, Discover, and American Express. Online payments may be made until 6 p.m. CST the last day of each month.
- Payment by mail: All checks and money orders should be made payable to Vanderbilt University, Office of Student Accounts, 110 21st Avenue South, Suite 100, Nashville, TN 37203. Payments mailed are applied as of the date they are received in the Office of Student Accounts, so please allow enough time for delivery.
- Payment in person: Payments (Cash and Check only) can be made in person directly to the Office of Student Accounts located in room 100 in the Baker Building located at 110 21st Avenue South, Suite 100, Nashville, TN 37203.
- Domestic Wire Transfers: To request wiring instructions, please contact the Office of Student Accounts by phone at 1-800-288-1144 or by email at email@example.com.
- Foreign Wire Transfers: Vanderbilt University has partnered with Western Union to offer students and families a more streamlined way to make international payments. Utilizing this method of payment can save international students and their families’ money that would otherwise be lost on bank fees and unfavorable exchange rates. This partnership allows you to pay in your home currency (in most cases) while providing more favorable rates than transfers from traditional banks. In addition, the payment will be posted into your Vanderbilt Student Account much quicker, and you will be able to track your payment while it is in process.
- Cash Payment Policy: Cash payments (US Currency/Coin) of $500 or less, not to exceed $10,000 per term, are accepted in person at the Office of Student Accounts.
Restrictions and Limitations:
The University can refuse to accept paper currency that is damaged, worn or altered in any form. The University can refuse to accept any payment made in coin that is not properly rolled and/or exceeding $25.00
Section 6050 I of the IRS Code requires that the University must report any cash payment more than $10,000 in one or more related transactions (IRS Form 8300 Filing). Cash includes coins and currency. Cash may also include cashier’s checks, bank drafts, traveler’s checks and money orders with a face amount of $10,000 or less. Cash does not include personal checks drawn on the account of the writer and cashier’s checks, bank drafts, traveler’s checks and money orders with a face value of more than $10,000.
If a student, parent, or third party makes a cash payment in excess of $10,000 on behalf of a student in one or more related transactions, the University is required to obtain their name and social security number in case it is necessary to file an IRS Form 8300 at a future date.
If a cash payment or a combination of cash payments in excess of $10,000 is submitted to the University, the Office of Student Accounts must be notified.
We are required to complete an IRS Form 8300 and maintain a copy of the form for five years.
A copy of the form and a written notification will be sent to the parent/student/third party who made the payment or cumulative cash payments in excess of $10,000.
The following information should be kept for at least five years after the payment is made:
- A copy of the 8300 form
- A copy of the notification to the student/parent who made the payment
- Account history for the term in which the payment was made
To prevent any oversight, a cumulative cash payment report is run each week to ensure that a combination of cash payments/cashier checks do not exceed the $10,000 allowable maximum for any related transaction. A related transaction is defined as any payment(s) applied to any given term.
- Check Payment Policy: All checks should be made payable to Vanderbilt University, Office of Student Accounts, 110 21st Avenue South, Suite 100, Nashville, TN 37203. Please include your full name and Commodore ID number or your full name and the last four digits of the student's social security number on all remittances. Allow 5-7 business days for mail processing to ensure your payment is received prior to the deadline. Please note that postdated checks are not accepted and a $25 fee is assessed to the students account if a check is returned from the bank as uncollectible.
- Credit and Debit Card Policy: Credit and Debit card payments are available online only, and will not be accepted in person at the Office of Student Accounts. A third-party processor (CashNet) accepts all credit card transactions on behalf of the University online via the Vanderbilt Payment Portal. The following credit cards are accepted: Visa, MasterCard, Discover, and American Express. There is a 2.65% convenience fee associated with all credit/debit card transactions.
- Overpayment Policy: All payments are to be made for no more than the amount owed or charged to the student account. Certain situations will be considered as exceptions to the rule; however, all overpayments/prepayments must have approval from the Office of Student Accounts prior to submission of funds.