Finance Handbook Academic Year 2015-2016 1
CONTENTS 1. Fees and Charges 2. Living Costs 3. Methods of Payment 4. Regulations 5. Form - Payment Plan 1 6. Form - Payment Plan 2 7. Form - Payment Plan 3 8. Form Payment by BACS 9. Form Standing Order 3 6 7 8 10 11 12 13 14 Version 1.0 2
Fees and Charges Taught Programmes Standard Programme (90 ECTS) These fees apply to all standard taught programmes i.e. MA IR, MA EPP, LLM IL/IR, MA IM etc. Payment plans are available at pages 10-12. Home/EU Overseas Full-time Part-time Full-time Part-time Academic Year 2015/2016 16,500 8,250 16,500 8,250 Extended Programme (120 ECTS) These fees apply to all extended taught programmes i.e. MA IR, MA EPP, LLM IL/IR, MA IM etc. Payment plans are available at pages 10-12. Home/EU Overseas Full-time Part-time Full-time Part-time Academic Year 2015/2016 23,500 11,750 23,500 11,750 Individual Module Home/EU Overseas Academic Year 2015/2016 2,360 2,360 For modules/courses in September 2015 the fee must be paid in full by 2 Oct 2015 and for modules in January 2016 paid in full by 8 January 2016. Research Programmes These fees apply to all PhD programmes. Payment plans are available at pages 10-12. Home/EU Overseas Full-time Part-time Full-time Part-time Academic Year 2015/2016 8,660 4,330 8,660 4,330 Monthly Fee for Extension Year 90 90 90 90 3
Pre-sessional Language Programme This fee must be paid in full before 20 July 2015. Home/EU Overseas Academic Year 2015/2016 2,750 2,750 Split-Site Option These fees apply to those students wishing to undertake their taught programme in Brussels and Canterbury. Payment plans are available by contacting the Finance Officer at ukbfinance@kent.ac.uk Home/EU Overseas Full-time Part-time Full-time Part-time Standard Programme 11,350 5,675 16,500 8,250 Extended Programme (2 taught terms in Brussels; 1 taught term in Canterbury) 18,250 9,125 22,200 11,100 Extended Programme (1 taught term in Brussels; 2 taught terms in Canterbury) 13,000 6,500 22,200 11,100 Part-time Students The tuition fee for part-time students is half of the full-time fee in the same year of study. Therefore, if the full-time tuition fee increases this increase will be reflected in the part-time tuition fee for that second year. Textbooks and Readers All readers and syllabi are available to view or download on Moodle which is the University s Virtual Learning Environment (VLE). Students are encouraged to purchase their own printer or to use one of the many print shops which can be found a short distance from the University s premises. Prices vary in these shops between 0.030 and 0.042 per sheet depending on the quantities required. Students can also print on the university s premises using their kent username and password, and recharge their printing credits in the administrative office. The cost of this printing is 0.050 per sheet irrespective of quantity. For some modules students are required to purchase a particular textbook; details can be found on the relevant syllabus. Although students do get a 15% discount from Waterstones in Brussels on these books, we would recommend doing a price comparison with Amazon. If purchasing books through Amazon, remember to use an EU based site (amazon.co.uk, amazon.de) to avoid paying import duty. The cost per module for textbooks is unlikely to be more than 50, so students should budget no more than 300 per books. 4
Additional Charges The following fees may also be levied where appropriate: Late Enrolment or The fee for failure to register for all modules by the deadline Module Registration published in each term is 50. Lost Student ID Card The fee for replacing a lost student ID card is 20 Transcripts Students can obtain copies of their transcripts online using the university s secure documents system at no charge (https://securedocuments.kent.ac.uk/), however replacement paper transcripts, through the Student Records Office (http://www.kent.ac.uk/student-records/) cost 10 per copy. Degree Certificate The cost of a replacement degree certificate is 20. Late Payment The charge for late payment is 100. 30 days after the late payment charge has been levied, and in the event that no new payment plan has been agreed, an additional monthly interest charge of 1.5% will be charged on any outstanding balance. 5
Living Costs The costs of living in Brussels can vary enormously depending on in which commune you choose to live, the type and availability of accommodation and your lifestyle. Our estimates are based upon a student living modestly in a decent neighbourhood: Accommodation: This varies according to where you wish to live and the standard of living but normally one should budget between 400 and 800 per month including utilities. For instance, you can find a room (sharing bathroom and kitchen) for about 400, all costs included, in either Ixelles or Etterbeek communes, both of which are close to the university. Those wishing to live alone can expect to pay 800 per month for a one bedroom apartment. Food: Approximately 150 per month. Study materials: We would suggest that you budget around 10 per month for photocopying and printing during the teaching terms and no more than 300 for textbooks for the entire year. Mobile phone: This depends on the type of subscription and provider but we would estimate a budget of between 10 and 20 per month. Public Transport: Brussels is a relatively small city and many students choose to walk, but a monthly public transport card costs just under 50 if you are more than 25 years old. For more details, please check www.stib.be Health Care Insurance: This depends on whether the cover from your home country extends to Europe and whether you have a European Health Insurance Card. If not we would suggest that you budget for between 6 and 8 per month for health insurance. Social and Miscellaneous: This varies from person to person but we would suggest that you budget 150 per month. The above estimation per month does not take into account travel home or around Europe, nor does it account for any additional costs incurred on arrival. For instance you need to be prepared to place 2 months rent into a dual signature account (landlord and tenant) as a deposit as well as factor in the cost of temporary accommodation on arrival (hostel/hotel). There are lots of internship opportunities in Brussels and indeed many students undertake one whilst completing their chosen programme of study; however they are not especially well-paid. Furthermore, although students are able to work for up to 20 hours per week in Belgium, it is not always easy to find a well-paid job without the ability to speak French and Flemish. That said, many of the jobs in the international institutions, and those companies clustered around them, require English and one other European language but these posts are sought after and hard to secure. For these reasons, we recommend that students consider their budget for the entire course of study carefully, and take these factors into account when applying for loans and financial aid. That is not to say that you won t secure paid work or a paid internship whilst in Brussels, many do, we just don t think that you should rely on it. 6
Methods of Payment The University is currently only able to accept two methods of payment. It is NOT possible to pay fees in cash. Bank Transfer IBAN - BE 31 37 51 00 71 27 55 BIC BB RU BE BB When paying by bank transfer, please ensure that you mention clearly the name and student number of the student whose account is to be credited in the relevant memo section. Note that international transfers may incur bank charges and that your account will be credited with the amount received by the University; net of any wiring or transfer fees. It is your responsibility to ensure that the correct amount arrives in the University s account, and doesn t simply leave your bank account! The University s International Bank Account Number (IBAN) and Bank Indicator Code (BIC SWIFT) are shown above. Additional details that may be required to affect a transfer are: Account number: 375-1007127-55 Account name: University of Kent s BSIS Bank Name: ING Bank Bank Address: Pleinlaan 2 1050 Brussels, Belgium Telephone: +322 626 9890 Fax: +322 626 9898 Visa or MasterCard Credit card payments can be made in person or by calling the office on + 322 641 1721 Please note that no matter what a card s available credit, substantial payments from foreign cards to a Belgian account may require pre-clearance with your card company. Please consider this before making a payment. 7
Finance Regulations Students must pay their tuition fees in accordance with one of the following three payment plans: Payment Plan 1 attracts a 2% discount from the tuition fees if funds are received in full by the stipulated date in the payment plan. Payment Plan 2 allows students to split payments into three instalments. Those students banking with ING should complete the enclosed Standing Order Form and submit it to their bank. This plan does not attract a discount. Payment Plan 3 is only for those students who have taken out an educational loan the disbursement of which is done through Western Union. At present this only relates to Federal Educational Loans (Direct Loan and Plus Loan) although the scheme may be extended to include other lenders. All student loans are handled by the University s Foreign Loans Office on the Kent campus and it is to them that all questions, concerns and queries should be addressed (foreignloans@kent.ac.uk or fax: +44 12 27 82 70 77). Once a loan has been authorized students will receive an email from Foreign Loans detailing the total amount loaned and the disbursement dates. The student then completes the Bankers Automated Clearing System (BACS) form on p.13 and return it to Foreign Loans. Only after this is received may the loan be drawn down. The USD loan is converted to EUR by Western Union at the market rate on the day that the money is drawn down from the lender. The University will remove part of the tuition fee as stipulated in the Payment Plan and the remaining balance will then be transferred into the student s Belgian bank account. All students are to complete one of the above Payment Plans and submit the relevant form to the Finance Officer by the dates below: Students starting in September 2015 - On or before 25 Sep 2015 Students starting in January 2016 - On or before 8 Jan 2016 Failure to return a Payment Plan Form on time may result in deregistration from the University. In addition, once a payment plan has been selected, please approach your responsibilities for fulfilling it seriously: substantial penalties can apply as a result of an error or oversight. Tuition fees are due on or before the dates specified in each payment plan, which means that the payment should reach the University s bank account on or before the dates specified. We recommend that students allow adequate time for international funds transfers, and that they check with their bank to ensure that the total amount will be received by the University net of any bank charge. Failure to meet these deadlines for any reason (including failure to allow adequate time for international funds transfers, credit card difficulties etc), will result in an automatic late payment fee of 100 being added to the total outstanding at the end of the month your 8
payment was due; a charge of 1.5% per month will then be levied on the total balance outstanding beginning 30 days after the initial charge was levied. In addition, in accordance with University of Kent Regulations, your registration status may be reviewed if payment is not received on time. A Status Letter, confirming your registration as a student and necessary to register with your commune, can only be issued after the first tuition instalment has been received. Students may therefore wish to make their first payment well in advance of the tuition fee due date. Tuition fee invoices and payment statements can be sent to the student s Kent email address but only on request by email to ukbfinance@kent.ac.uk 9
PAYMENT PLAN 1 (To be completed and returned to the UKB Office by 25 Sep 2015 for those starting in Sep 2015 or 8 Jan 2016 for those starting in Jan 2016). Name Student Number I wish to pay under the terms of Payment Plan 1 which attracts a 2% discount from the tuition fees if funds are received in full by 02 Oct. 2015 (Sep 2015 students) or by 8 Jan. 2016 (Jan 2016 students). Please initial the appropriate box according to your mode of study. In doing so you will be confirming the amount due and the date by which payment is to be made. Tuition Tuition after Sep 2015 Jan 2016 Initials Study Mode Fee discount Students Students Full-time Taught - Standard Part-time Taught - Standard Full-time Taught - Extended Full-time Research 16,500 16,170 02 Oct 2015 8 Jan 2016 8,250 8,085 02 Oct 2015 8 Jan 2016 23,500 23,030 02 Oct 2015 8 Jan 2016 8,660 8,486.80 02 Oct 2015 8 Jan 2016 Part-time Research 4,330 4,243.40 02 Oct 2015 8 Jan 2016 Please read the statements below and place your initials in the box to the side to confirm you have read them: Initials I intend to take advantage of the discount of 2%; I understand that this discount will only be credited to my account if payment reaches the School by the dates above (i.e., if tuition reflecting the discount is received late, a balance of 2% will remain due). I understand that in taking advantage of the 2% discount, I should transfer my tuition fees net of the discount, so that the University does not have to refund me money later. I understand that no reminders will be sent for any payments due; in addition, I have read and understand all financial regulations. I understand that I will be liable for the payment of any unpaid charges which have been incurred through my attendance at the University of Kent. This includes any items remaining unpaid by my sponsor. I further understand that late fees will be charged on any payments not received by the School on time, and I cannot progress or graduate with unpaid debts to the School. Signature Date PLEASE RETAIN A COPY AS A REMINDER OF PAYMENT DATES, INSTRUCTIONS AND OTHER DETAILS 10
PAYMENT PLAN 2 (To be completed and returned to the UKB Office by 25 Sep 2015 for those starting in Sep 2015 or 8 Jan 2016 for those starting in Jan 2016). Name Student Number This payment plan allows the students to spread tuition fee payments across the year of study. Students who bank with ING should complete the enclosed Standing Order Form and submit it to their bank. Students who do not bank with ING are encouraged to set up a standing order payment to ensure that they meet the payment plan deadlines. Please initial the appropriate box according to your mode of study. In doing so you will be confirming the amount due and the dates by which the payments are to be made. Initials Study Mode Full-time Taught Standard Part-time Taught Standard Full-time Taught Extended * Full-time Research Part-time Research Tuition Fee 02 Oct 2015 Sep 2015 Students 22 Jan 2016 06 May 2016 8 Jan 2016 Jan 2016 Students 06 May 2016 30 Sep 2016 16,500 5,500 5,500 5,500 5,500 5,500 5,500 8,250 2,750 2,750 2,750 2,750 2,750 2,750 23,500 4700 4700 4700 4700 4700 4700 8,660 2,887 2,887 2,886 2,887 2,887 2,886 4,330 1,444 1,443 1,443 1,444 1,443 1,443 * Students on the Extended Programme have to make two additional payments of 4,700. These are due on 2 Oct 2016 and 22 Jan 2017 for Sep 2015 students and on 22 Jan 2017 and 6 May 2017 for Jan 2016 students. Please read the statements below and place your initials in the box to the side to confirm that it has been read: Initials I agree to pay the tuition fees according to the above timetable and will complete and submit the attached Standing Order Form if I bank with ING. I understand that no reminders will be sent for any payments due; in addition, I have read and understand all financial regulations. I understand that I will be liable for the payment of any unpaid charges which have been incurred through my attendance at the University of Kent. This includes any items remaining unpaid by my sponsor. I further understand that late fees will be charged on any payments not received by the School on time, and I cannot progress or graduate with unpaid debts to the School. Signature Date PLEASE RETAIN A COPY AS A REMINDER OF PAYMENT DATES, INSTRUCTIONS AND OTHER DETAILS 11
PAYMENT PLAN 3 (To be completed and returned to the UKB Office by 25 Sep 2015 for those starting in Sep 2015 or 8 Jan 2016 for those starting in Jan 2016). Name Student Number This payment plan is currently only for US students who have taken Federal Educational Loans (Direct Loan and Plus Loan). All student loans are handled by the University s Foreign Loans Office on the Kent campus and it is to them that all questions, concerns and queries should be addressed (foreignloans@kent.ac.uk or fax: +44 12 27 82 70 77). Please initial the appropriate box according to your mode of study. In doing so you will be confirming the total amount due and the amounts which will be removed from each loan disbursement. If the loan is disbursed in less than 3 disbursements the amounts will be adjusted accordingly. Initials Study Mode Tuition Fee Full-time Taught Standard Part-time Taught Standard Full-time Research Part-time Research Sep 2015 Students Jan 2016 Students 1st 2nd 3rd 1st 2nd 16,500 5,500 5,500 5,500 8,250 8,250 8,250 2,750 2,750 2,750 4,125 4,125 8,660 2,887 2,887 2,886 4,330 4,330 4,330 1,444 1,443 1,443 2,165 2,165 Please read the statements below and place your initials in the box to the side to confirm that it has been read: Initials I agree to the removal of my tuition fee from my loan disbursements as detailed above and will submit the BACS form to Foreign Loans to enable the money to be drawn down by Western Union. I understand that I will be liable for the payment of any unpaid charges which have been incurred through my attendance at the University of Kent. This includes any items remaining unpaid by my sponsor. I further understand that late fees will be charged on any payments not received by the School on time, and I cannot progress or graduate with unpaid debts to the School. Signature Date PLEASE RETAIN A COPY AS A REMINDER OF PAYMENT DATES, INSTRUCTIONS AND OTHER DETAILS 12
BACS PAYMENT (To be completed and returned to the UKB Office for onward transmission to Foreign Loans) Once a loan has been authorized students will receive an email from Foreign Loans detailing the total amount loaned and the disbursement dates. They are then to complete this Bankers Automated Clearing System (BACS) form and return it to Foreign Loans, only once this is received may the loan be drawn down. The USD loan is converted to EUR by Western Union at the market rate on the day that the money is drawn down from the lender. The University will remove part of the tuition fee as stipulated in the relevant Payment Plan and the remaining balance will then be transferred into the student s Belgian bank account. Student Details Surname First Name Student Number Email Address Academic School University of Kent, Brussels School of International Studies Bank Details Bank Name Bank Account Number IBAN Number BIC/SWIFT Additional Banking Details I confirm that these are my correct bank details and I authorize the Income Accountant to deduct tuition fees and accommodation charges from my federal and private student loans and credit the remaining funds to this account Signature Date PLEASE RETAIN A COPY AS A REMINDER OF PAYMENT DATES, INSTRUCTIONS AND OTHER DETAILS 13
STANDING ORDER FORM (To be completed and returned to your ING branch) Please execute the order below by means of debit from my account: Instructing Party: Name Bank Account Number Branch Beneficiary: Name University of Kent s BSIS Bank Account Number 375-1007127-55 Address ING Bank, Pleinlaan 2, 1050 Brussels Amount and Due Dates: Using the form at Payment Plan 2 insert the amounts and dates on which the transactions are to take place Date Amount Message: Name Student Number Signature Date PLEASE RETAIN A COPY AS A REMINDER OF PAYMENT DATES, INSTRUCTIONS AND OTHER DETAILS 14