Payment of fees
Recognised students pay half the overseas tuition fee and rates can be checked on the University website.These fees are paid in whole to the Department, with none of the fees contributing to central services.
Recognised Students can pay the fees via the University shop or by bank transfer. Your department finance coordinator will need to raise an invoice before any payments are made on the University shop or by bank transfer. If the department wishes to waive the fees, the department finance coordinator can credit a similar amount on the scholarship/bursary account and a debit on the student fees account, to waive the fees for the student, but your department will then not receive any income from the student.
In the offer letter, you must state the fees due for the entire period of their stay, and the termly amounts (see offer stage/letter) and clarify any future increases if the fees cross over two academic years.
Make sure you give your department finance coordinator adequate notice so they can raise an invoice and any payment or invoice information they may need (see below). Some students may have to quote a grant reference number if their home University requires this on the invoice in order to release funding/reimburse.
Ask the student how they intend to pay the fees
Fees must be paid by the end of the second week of term and can be paid each term, or all in advance for the academic year.
You will need to have all the information necessary to fill in the Accounts Receivable Customer Set-Up Form in order to raise an invoice: Customer Set-up Form (office.com) You may find several variations to the pattern below so ask the student to provide you as much detail as possible in advance e.g. who is paying fees, grant reference number, invoice address etc.
i. Funded by a grant/scholarship:
Some students will have a grant/scholarship to cover the fees and this may need to be referenced in the invoice or they may need the invoice addressed to their home university. You will need to let your department finance coordinator know, as they will need to either set-up a new customer account in Oracle Financials or if their home university is paying check if the account already exists. For this you will need the UK VAT number, address and name of the person paying the invoice and a secondary admin. contact if the first person listed is the academic contact. This is so that late payments can be chased as needed.
ii. Self-funded or parents paying the fees:
As above, although there will be no UK VAT number. The student would be the customer for the set-up in Oracle Financials.
Checking fee payments and chasing delayed payments
Students need to pay the fees within two weeks of starting the term, so check they have received clear instructions about how to make the payment either before, or at the start of the term. Students can be enrolled before they have paid the fees but you should ask your department finance coordinator to chase any late payments during the term, so the income is not lost by the department. This could include running an aged debt report at the beginning of each month on your cost centre code.