FINANCIAL TERMS & CONDITIONS
UBI's Tuition Fees Policy contains the terms and conditions and arrangements for payment of tuition fees, refunds and other administrative fees. All candidates should read and understand this policy before accepting a place at UBI.
For any questions you might have, please contact the UBI Finance Department.
TUITION and OTHER FEES
The regular tuition fees for students entering UBI in the academic year 2020 – 2021 and before are as follows:
1. Bachelor (Hons.) Business Studies (BA):
Tuition for the programme: EUR 32.400,00
Tuition for the semester: EUR 5.400,00
2. Master of Business Administration (MBA):
Tuition for the programme: EUR 21.800,00
Tuition for the semester: EUR 5.450,00
3. Other fees and changes
Resits and Resubmissions BA and MBA: EUR 50,00 per resit/resubmission
Retake BA: EUR 600,00 per retake
Retake MBA: EUR 1.830,00 per retake
Top-Up MBA: EUR 2.000,00 per module and EUR 3.500,00 for the dissertation
Your tuition fees are fixed for the duration of the course of your study. The tuition fees do not include any of the following costs: administrative fees for visa purposes, academic materials (e.g.: books), photocopying and printing expenses, door cards, copyright fees, rent for graduation attire, and similar academic and non-academic expenses.
If you are the recipient of a scholarship, a study award and/or financial aid, your individual tuition fees may vary. See the chapter on “Scholarships, Awards and Financial Aid” for general information and additionally your scholarship, study award and/or financial aid agreement and your tuition invoice for details.
INVOICING and PAYMENTS
Invoicing and payments for the first (1st) semester
For students from the European Union (EU):
Step 1: Acceptance to UBI and payment for enrolment: After successfully getting accepted into a UBI programme you will receive an invoice for a downpayment to secure your place and enrol in the programme. The down-payment is EUR 500,00 and will later be credited to your tuition invoice. The down-payment is fully refundable in case
you decide not to enrol on a UBI programme.
Step 2: Payment of the tuition fees of the 1st semester: After completing the enrolment process you will receive your tuition invoice for the 1st semester.
As mentioned under Step 1, the down-payment is credited in your tuition invoice and you will only need to pay the remainder.
For students from outside the European Union (non-EU):
Step 1: Acceptance, enrolment and full tuition payment: After successfully getting accepted into a UBI programme you will receive an invoice that has two
The tuition fees for your programme for the 1st semester
A non-refundable administrative fee of EUR 250,00
Example: if you are a non-EU student, who got accepted into UBI’s Bachelor (Hons.) Business Studies programme, your 1st-semester invoice will amount to EUR 5.650,00 (EUR 5.400,00 for the tuition fees and EUR 250,00 for the non-refundable administrative fee). Invoices of future semesters will not include the non-refundable administrative fee, but only the tuition fees.
Please pay the full amount as indicated on your invoice to secure a place in the UBI programme and start the enrolment process. Only after UBI has received your full payment UBI can provide you with the documents needed for administrative and visa purposes.
In case you decide not to study at UBI after having made the payment of the invoice, UBI will refund the tuition fees in full.
The administrative fee is non-refundable.
Invoicing and payments for all further semesters for all students
Six weeks before the start of the semester you will receive an invoice for the tuition fees of the upcoming semester. Make sure to pay the tuition fees in full before the start of the semester. If your tuition payment is dependent on a grant and/or subsidy by a third party, please take the following steps:
Send the Finance Department a document that proofs you have applied for a grant and/or subsidy.
Make a down-payment of EUR 500,00
Further notes on invoicing and payments for all students
For all other invoices (example: for resits) please pay as indicated on the invoice. UBI only accepts payments via wire bank transfer to the bank account shown on the invoice. Please make sure to provide all the required details as written on the invoice.
Refunds can only be transferred to the bank account from which UBI received the payments. Invoices are due as indicated by the due date on the invoice. If for whatever reason your invoice does not indicate a due date, it is due four (4) weeks after receipt. Please make sure to pay in a timely manner.
If you have an individual payment plan agreement, please follow the payment dates in the agreement. Please note that payment plans are subject to additional fees and terms & conditions.
Bank charges and foreign currency exchange costs are the sole responsibility of the remitter who will be required to reimburse UBI for any shortfall.
If you do not pay your invoices by the due date, UBI might first remind you about your outstanding payables. Note, however, that this is not required by UBI and you might not receive a reminder.
If your invoices are fully and/or partially overdue for more than fourteen (14) days, UBI reserves the right to take further measures without prior notice to secure and collect the overdue receivables. Further measures might include but are not limited to the following:
Charge late-payment administrative and penalty fees of EUR 150,00 per month starting from the day after the invoice due date;
Restrict your access to student records including grades, transcripts, and diplomas/awards;
Restrict your access to academic tools (example: Moodle) and in severe cases suspend or withdraw you from classes;
Refuse your requests for academic and administrative documents (example: for visa purposes, grant applications and other external processes);
Where applicable: contact your parents, guardians and/or financial sponsors and inform them of the overdue payments;
Refer your overdue debt to an external debt collection agency and/or a bailiff.
If at the start of a new semester you have not fully paid your invoices from a previous semester, UBI reserves the right to withdraw you from the programme and suspend access to all academic tools without prior notice. You will further not receive your grades and/or diplomas if you have not fully paid all your financial obligations to UBI.
If you are having difficulties paying your invoices, please inform the UBI Finance Department as soon as possible. Note, however, that your notice to the Finance Department does not change your financial obligations to UBI. It is simply the first step to understand your situation and find a solution for your financial difficulties. It remains your sole responsibility to arrange and ensure that the funds to cover the invoices are paid into UBI’s account before the due date.
Please be aware that UBI is entitled to use all legal means to obtain payment and that you will be responsible for all costs associated with such actions.
DEFERRALS and WITHDRAWALS
Deferral means ceasing to study in a programme with the intention of resuming and completing the studies later. Withdrawal means ceasing to study in a programme with the intention of NOT resuming and completing the studies later. It is only possible to defer/withdraw from an entire program at UBI; it is not possible to defer/withdraw from a single module/class.
Tuition fees are charged based on your registration and enrolment status and not your actual attendance. If you stop attending without a written deferral and/or withdrawal notification to UBI, you will be liable for tuition fees until the date at which UBI receives your written deferral and/or withdrawal notification. The following timeline applies to deferrals and/or withdrawals:
Deferral and/or withdrawal before the first day of the semester: if you notify UBI about your deferral/withdrawal in writing before the first day of your programme, you will be de-registered, and your invoice(s) will be cancelled with a credit note (Note: only the refundable parts of your invoice will be credited). In case of a deferral, you remain enrolled at UBI. In case of a withdrawal, you will no longer be enrolled at UBI.
Deferral and/or withdrawal before week six (6) of the semester: if you notify UBI about your deferral/withdrawal in writing before the start of the sixth week of your programme, you will be liable for 50% of all refundable fees for that semester and you will receive a credit note for the other 50% of all refundable fees. Non-refundable fees will not be credited.
Deferral and/or withdrawal after starting week 6 of the semester: if you notify UBI about your deferral/withdrawal in writing after the start of the sixth week of your programme, you will be liable for 100% of all fees for that semester.
Students on a tuition payment plan, who then defer their programme of study, must meet any shortfall between the full fees determined by UBI for the period of study undertaken and the total amount of the instalments already paid.
After the deferral and/or withdrawal notification to UBI, you are no longer eligible to attend any classes and/or to use any learning resources provided by UBI for the relevant programme.
You must complete your programme within a maximum timeframe. Please see your student handbook for details. A withdrawal/deferral does not alter the maximum timeframe.
For details of the academic consequences of your deferral/withdrawal, please consult your academic handbook and/or speak to your academic administrator and/or programme director.
SCHOLARSHIPS, AWARDS and FINANCIAL AID
Merit-based scholarship for new applicants
Amount: 30% of tuition fees; applied to the entire programme
Eligibility: The admissions committee may grant a tuition reduction of 30% to outstanding candidates (merit-based scholarship). This grant is up to the discretion of the admissions committee and an extra application is required. Please contact your admissions advisor for further details.
Awards for registered students – “Dean’s List”
Amount: 10% of tuition fees; applied to next semester tuition fees
Eligibility: All students with a GPA of 80% or better are eligible to receive a 10% reduction in tuition fees for the next semester. The student must further be in good standing with UBI and must have paid all invoices that are due. Please contact your academic advisor for further details.
Financial aid for registered students
Amount: 30% of tuition fees; applied to the current semester tuition fees
Eligibility: The admissions committee may grant a tuition reduction of 30% to registered students in severe financial need. This grant is up to the discretion of the admissions committee and an extra application is required. Please contact the UBI Finance Department for further details.
Payment plan for registered students
Students in temporary financial difficulties can enquire with UBI about a payment plan for the tuition fees of the current semester. The payment plan will allow the student to pay the tuition fees in instalments throughout the semester, instead of paying the full amount at the start of the semester. While a payment plan will support students in need by delaying their payments, UBI must charge the students an additional administrative fee of 5% of the amount of the payment plan. Thus the overall costs to the student will increase.
UBI’s Financial terms & Conditions for Students are subject to periodic review and might change each academic year.
All students attending a UBI programme are required to use their own personal laptop computers, electronic devices and learning equipment. UBI does not provide those; for materials that UBI provides (e.g.: research database access; library; etc.), please enquire with your academic administrator.
By enrolling into a UBI programme and paying your tuition fees you accept these terms and conditions.