Texas Education Code 51.9461 – Charges and Fees for Certain Payments At Private or Independent Institutions of Higher Education
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(a) In this section, “private or independent institution of higher education” has the meaning assigned by § 61.003.
(b) This section applies only to a payment of tuition, a fee, or another charge made by or on behalf of a student, including a person admitted but not yet enrolled, of a private or independent institution of higher education if the payment is made or authorized in person, by mail, by telephone call, or through the Internet by means of:
(1) an electronic funds transfer; or
(2) a credit card.
Terms Used In Texas Education Code 51.9461
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) A private or independent institution of higher education may charge a fee or other amount in connection with a payment to which this section applies, in addition to the amount of the tuition, fee, or other charge being paid, including:
(1) a discount, convenience, or service charge for the transaction; or
(2) a service charge in connection with a payment transaction that is dishonored or refused for lack of funds or insufficient funds.
(d) A fee or other charge under this section must be in an amount reasonable and necessary to reimburse the institution for the expense incurred by the institution in processing and handling the payment or payment transaction.
(e) Before accepting a payment by credit card, the institution shall notify the student or other person making the payment of any fee to be charged under this section.