Accounts for fees and extra charges that are outstanding at the time of the billing will be subject to late payment charges at a rate of 16% per annum. Monthly statements are emailed by the 5th working day of the following month. All original medical invoices/prescriptions are mailed after statements are emailed.
Failure to comply with the terms of payment may result in the student not being admitted to the school for the subsequent term or academic year. In addition, the school may withhold grading services and exercise other sanctions as it deems necessary for the collection of overdue accounts.
Students are encouraged to responsibly handle their own finances and to have their own bank account in the village of Lakefield with either the Canadian Imperial Bank of Commerce (CIBC) or the Royal Bank of Canada (RBC). The school suggests a $30 weekly allowance to cover incidental expenses such as postage, taxis, and haircuts, etc. Students are encouraged to plan their spending and keep only small sums of money in their possession. A bank debit machine is conveniently located on campus.