Fees at Studholme College
FEES AND CONTRACT PAYMENT SCHEDULE
Terms and Conditions:
Fees for 2013 have been set by the University of Otago at $12,882.00 (GST inclusive) for the academic period Saturday 16 February until within 24 hours of the resident’s final examination in November 2013. Any students wishing to stay beyond the 24 hours following their last exam may do so solely at the discretion of the Warden. Rebates or refunds will not be given for early departure.
The $12,882.00 accommodation fee is made up of 38 weeks.
Bond, and Student Placement and Activities Fee: $ 730.00
A $100 Bond plus a $630.00 Student Placement and Activities Fee* is required when accepting a place at Studholme College. The Entry Fee can also be paid by Credit Card using the University Credit Card gateway payment website, a non refundable administration fee of $10.60 will be added for payments by credit card.
(*If you are unable to take up your place at the Residential College you will forfeit 50% of this fee).
First Instalment: $6,762.00
It is a prerequisite of your admission to the College that this first instalment be made on or before 1 February 2013.
(Please note that Student Loans and Allowances do not issue a bulk amount to cover this initial First Instalment).
There are two one-week mid-semester breaks; Sat 30 March – Sat 6 April and Sat 24 Aug – Sat 31Aug, and a mid-year break; Sat 22 June – Sat 6 July.
Provided you have handed in your keys and signed out and in again, you will receive a $7.00 food rebate credited to your account for each day you are away during these periods. Rebates are to a maximum of $49.00 for each mid-semester break, and $98 for the mid-year break.
Payment Information:
• Bond and Student Placement and Activities Fee can be paid by cheque made payable to the University of Otago and mailed directly to Studholme College or by credit card using the university credit card gateway payment site.
• The preferred method of payment for accommodation fees instalments is by Direct Debit.
• Fees in arrears will incur a 10% penalty. If it becomes necessary to pass an overdue amount to a Debt Collector, the collection fees incurred will be met by the account holder.
• The University has the right to withhold your examination results at the end of each semester should you have any outstanding debt.
Payment Options
There are three payment options available.
Option One: Lump Sum Payment
$12,882.00 Accommodation Fees to be paid by 1 February, 2013 (in addition to the $100.00 Bond and $630.00 Student Placement and Activities Fee, due on or before 19 October 2012).
Option Two: Upfront Payment+2 Instalments.
Payment Amount Due Dates:
ENTRY FEE $724.00 Fri, 19 October , 2012
Upfront payment $6,762.00 Fri, 1 February, 2013
1st Instalment $3060.00 Wed, 15 May, 2013
2nd Instalment $3060.00 Wed, 28 August, 2013
Option Three: Up front payment+36 payments by Weekly Direct Debit (BUT MUST PAY FIRST INSTALMENT IN ORDER FOR THIS TO BE AN OPTION)
The weekly direct debit payment option is available for students who will be paying their accommodation fees with a Student Loan or Allowance. Studylink payments do not cover the total College fee of $339.00 per week, therefore we ask for a first instalment of $6,762.00 by 1 February, 2013 (in addition to the $100.00 Bond and $630.00 Student Placement and Activities Fee) and thereafter 36 continuous weekly direct debits of $170.00. A Direct Debit Form will be included with the acceptance correspondence. Please complete this form and return it to Studholme College with your Information Form.
The weekly payment of $170.00 will be direct debited from your nominated bank account on the dates listed below, commencing Wednesday 20 February, with a final payment on Wednesday 23 October 2013, as per the following schedule:
Payments 1 to 9 10 to 18 19 to 27 28 to 36
20-Feb 24-Apr 26-Jun 28-Aug
27-Feb 1-May 3-Jul 4-Sep
6-Mar 8-May 10-Jul 11-Sep
13-Mar 15-May 17-Jul 18-Sep
20-Mar 22-May 24-Jul 25-Sep
27-Mar 29-May 31-Aug 2-Oct
3-Apr 5-Jun 7-Aug 9-Oct
10-Apr 12-Jun 14-Aug 16-Oct
17-Apr 19-Jun 21-Aug 23-Oct
IMPORTANT NOTE: STUDY LINK DO NOT PAY LIVING COSTS & ALLOWANCES DIRECTLY TO STUDHOLME COLLEGE, BUT INSTEAD DIRECTLY TO THE RESIDENT’S BANK ACCOUNT. IT IS THEN THE RESPONSIBILITY OF THE RESIDENT TO ENSURE THAT SUFFICIENT FUNDS ARE AVAILABLE IN THEIR BANK ACCOUNT TO COVER THE WEEKLY DIRECT DEBIT PAYMENTS.
Student Allowance:
If you are applying for a student loan or allowance it is important that you do so as soon as possible so that there are no delays in payments at the beginning of the academic year.
Information for crediting funds to the University of Otago Bank Account
The following is information regarding how students / parents may pay funds to the University for Studholme College accounts.
Direct Debit
This is the preferred method of payment for instalments and weekly payments. A Direct Debit Authority Form will be included with your welcome letter. Please return this form to the College (NOT to your Bank).
A direct debit authority is the instruction to your Bank giving the College permission to directly debit accommodation fees from your nominated bank account. The Bank registers the authority against your bank account and the College can then initiate the payments in accordance with your contract and selected payment schedule. You just need to ensure there are sufficient funds in your bank account to cover your payments on the due dates.
The do’s and don’ts of Direct Debit Authorities:
• Firstly, check that the bank account you select is able to accept direct debits. Some account types will not allow direct debits e.g. Westpac’s Bonus Saver. You can check this by contacting your Bank directly.
• When completing the direct debit authority form, ensure that you print clearly and that the authorised account holder signs and dates the form.
• Ensure that the bank account number you have written on the form is correct and legible, and initial any changes you make to the form.
• Attach an encoded deposit slip or verified lodgement slip to ensure your number is loaded correctly.
• You must send the original, signed copy directly to the College, along with your Agreement. Faxed copies are rejected by the Banks. We will then load the relevant information and ask your Bank to validate your account number. Once validated, we will then send the authority form to your bank.
• You may change the nominated bank account number at any time, however you must complete a new direct debit authority form and allow 10 working days for this to be validated and sent to your Bank.
Cheque
All cheques should be made payable to the University of Otago and mailed directly to Studholme College.
Credit Card
Upfront Payment and Instalments can also be paid by using the University Credit Card Gateway Payment website. Please note that a non-refundable 1.45% credit card administration fee applies
Internet Banking
The University is registered for internet/telephone banking with Westpac, The National Bank, ANZ, ASB and BNZ, if you choose to make payment by this method ensure that all three fields are completed as follows:
Particulars Field: Studholme
Code Field: ZR
Reference Field: “Resident Name”
International Payments paid by Telegraphic Transfers
Payments can be arranged from overseas to be paid direct to the University account. It is important that Studholme College and the name of the student are listed in the reference. The University of Otago bank account details are
Bank ANZ National Bank Ltd
Account Number 06-0901-0001203-00
Branch Dunedin Commercial
P O Box 883
Dunedin
SWIFT Address ANZBNZ22