UBC mistakenly collects $2.1 million from students' accounts

January 11, 2012

A University of British Columbia student paper reports that a glitch in the institution's electronic funds transfer system left some students double- and triple-billed for tuition and housing fees for the winter semester. The registrar's office says the amount collected in error from about 530 students' bank accounts reached approximately $2.1 million. The error stems from a third-party company that does batch processing payments for the university. UBC says it will help affected students with some emergency financial assistance, in some cases loaning money to them. The institution has also informed students that they will be compensated for any insufficient funds charges or overdraft fees, which will be paid for by the third-party company. The Ubyssey (student newspaper)