FINANCIAL TERMS & CONDITIONS

  • The current version of UBI's Financial Terms & Conditions for Students contains the terms and conditions and arrangements for payment of tuition fees, refunds and other administrative fees for the academic year of 2021/22.

  • All candidates should read and understand this policy before accepting a place at UBI. 

  • The student shall contact the finance department if they want a copy of T&C for students that have entered UBI before the upcoming academic year. 

  • 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 2021 – 2022 and before are as follows:
1. Bachelor (Hons.) Business Studies (BA) & Bachelor of International Business Management (BIBM):

  • 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 28.500,00

  • Payment intervals: 3 payments per year (Oct, Feb, Jun):

    • For one year (FT) students: each payment equal to EUR 9.500 (3x)

    • For two-year (PT) students: pay 70% in the first year and the rest 30% in the second year

3. Other fees and changes

  • Resits and Resubmissions BA and MBA: EUR 100,00 per resit/resubmission

  • Retake for Bachelor programme: EUR 1.080,00 per retake

  • Retake for MBA programme: EUR 2.000,00 per retake

 

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 “Scholarships & Tuition Support” below 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 offer of enrolment:
After successfully getting accepted into a UBI programme you will receive an offer of enrolment, including an invoice for down-payment 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 downpayment 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 accepting the UBI offer and completing the enrolment process you will receive your first tuition invoice. As mentioned under Step 1, the down-payment is credited in your tuition invoice and you will only need to pay the remainder of the tuition fees. The tuition fees, the credit for your down-payment and the open balance to be paid will be clearly shown on the invoice.


For students from outside the European Union (non-EU):

Step 1: Acceptance to UBI, offer of enrolment and first tuition payment:
After successfully getting accepted into a UBI programme you will receive an offer of enrolment,
including an invoice that has two parts:

  1. The first part of your tuition fees for your programme

  2. A non-refundable administrative fee of EUR 250,00

For example: if you are a non-EU student, who got accepted into one of UBI’s Bachelor programmes, your offer of enrolment will include an invoice that amounts to EUR 5.650,00, which covers EUR 5.400,00 for the tuition fees of the first semester 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.

 

To accept the offer and enrol at UBI, please pay the full amount as indicated on your invoice. UBI can only provide you with the documents needed for administrative and visa purposes after it has received your full payment and enrolment documents.
 

For details about withdrawing and deferring after enrolment, please see further below section.

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:

  1. Send the Finance Department a document that proofs you have applied for a grant and/or subsidy.

  2. Make a down-payment of EUR 500,00

Further notes on invoicing and payments for all students

If you are applying for a third-party grant and/or subsidy, UBI accepts to delay the due date of your invoice by 8 weeks. To be eligible for this delay of the due date, please take the following steps:

  1. Make a down-payment of EUR 500,00

  2. Send the Finance Department a document that proofs you have applied for a grant and/or subsidy.

Note, however, that you are still fully liable for any financial obligations to UBI, and that your obligations of payment are not dependent on the outcome of your application to third-party grants and/or subsidies. That means that latest in week 8 of your studies at UBI you must pay your tuition fees in full.

Late Payments
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:

  1. Charge late-payment administrative and penalty fees of EUR 150,00 per month starting from the day after the invoice due date;

  2. Restrict your access to student records including grades, transcripts, and diplomas/awards;

  3. Restrict your access to academic tools (example: Moodle) and in severe cases suspend or withdraw you from classes;

  4. Refuse your requests for academic and administrative documents (example: for visa purposes, grant applications and other external processes);

  5. Where applicable: contact your parents, guardians and/or financial sponsors and inform them of the overdue payments;

  6. 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”: ceasing enrolment or study in a programme with the intention of resuming and completing the enrolment or study later.
“Withdrawal”: ceasing enrolment or study in a programme with the intention of NOT resuming and completing the enrolment or study later.
It is only possible to defer (withdraw) from an entire program at UBI. It is NOT possible to defer (withdraw) from a single class and/or module.


Tuition fees are charged based on your enrolment and study registration status and not your actual attendance. Thus, if you defer or withdraw from your enrolment or study without a written deferral (withdrawal) notification to UBI, you will be liable for tuition fees until the date at which
UBI receives your written deferral (withdrawal) notification.

The following timeline applies to deferrals and withdrawals:

  • Deferral (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 deregistered, and your invoice(s) will be cancelled with a credit note and you will be refunded (note: only the refundable part of your invoice will be cancelled and refunded; please see further below for details). In case of a deferral, you remain enrolled at UBI. In case of a withdrawal, you will no longer be enrolled at UBI.

  • Deferral (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 (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.

Please note:

  • Note that only the refundable parts of your invoice will be credited and refunded. For example, the non-refundable visa fees for visa-students applying to UBI will not be refunded in case of a deferral (withdrawal), irrespective of the reason for the deferral (withdrawal), i.e. in case of visa rejection you still need to adhere to the above process and are liable for fees, if you do not inform UBI in time in writing about your deferral (withdrawal). It is the responsibility of the student to manage the visa process and ensure to inform UBI in time should any difficulties arise in the visa process.

  • 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 already undertaken and the total amount of the instalments already paid.

  • After the deferral (withdrawal) notification to UBI in writing, you are no longer eligible to attend any classes and/or to use any academic 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 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 & TUITION SUPPORT

Tuition reduction for 100% payment upfront
Amount: 15% of tuition fees; applied to the entire programme
Eligibility: The admissions committee will grant a tuition reduction of 15% to each student that decides to pay the entire tuition fees for a programme in full before the 1st day of study. Each student that fulfils the formal requirements is eligible. An application is required. Please contact your admissions advisor for further details.


Merit-based scholarship
Amount: 30% of tuition fees; applied to the entire programme
Eligibility: The admissions committee will grant a tuition reduction of 30% to outstanding candidates (merit-based scholarship). Each student that fulfils the formal requirements is eligible. An application is required. Please contact your admissions advisor for further details.

 

Family-based scholarship
Amount: 30% of tuition fees; applied to the entire programme
Eligibility: The admissions committee will grant a tuition reduction of 30% to candidates that have a formal family relationship (up to the second degree of separation) with a member of the UBI community: current student, alumni, staff, and faculty. Each student that fulfils the formal
requirements is eligible. An application is required. Please contact your admissions advisor for further details.

 

Special-group scholarship
Amount: 30% of tuition fees; applied to the entire programme
Eligibility: The admissions committee may grant a tuition reduction of 30% to outstanding candidates that have considerable achievements and experiences in the following non-business related fields of study and/or work: military, science, music and arts. This scholarship is up to the
discretion of the UBI scholarship committee. An application is required. Please contact your admissions advisor for further details.

 

Refugee-status scholarship
Amount: 30% of tuition fees; applied to the entire programme
Eligibility: The admissions committee will grant a tuition reduction of 30% to students that have official refugee status. Each student that fulfils the formal requirements is eligible. An application is required. Please contact your admissions advisor for further details.10 Scholarships and tuition support cannot be combined, i.e. each student can only receive one scholarship and/or tuition support agreement.

Please note: Scholarships and tuition support cannot be combined, i.e. each student can only receive one scholarship and/or tuition support agreement.

For students already studying at UBI

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 of 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
Amount: 30% of tuition fees; applied to the entire programme
Eligibility: The admissions committee may grant a tuition reduction of 30% to registered students in severe permanent 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
Students in temporary financial difficulties can enquire about a payment plan for the tuition fees of the current semester. The payment plan will allow the student to partially delay the payments.
While a payment plan will support students in temporary need by delaying their payments, UBI must charge the students an additional fee of 5% of the amount of the payment plan. Thus, the overall costs to the student will increase.

Note: that a payment plan is for temporary financial difficulties for one semester and is not automatically renewed for the next semester.

PROVISIONS
  • By enrolling on a UBI programme and paying your tuition fees you accept these terms and conditions.

  • 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; resources and materials that UBI provides (e.g.: research database access; library; etc.), please contact your academic administrator.

  • UBI will not pay interest on money held in full or part payment of fees and is not liable to you or anyone else for exchange rate movement, conversion charges, bank fees or fees paid to recruitment or immigration agents nor for any student loan charges.