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Financial Regulations And Procedures

FINANCIAL REQUIREMENTS FOR REGISTRATION

Although students register for classes through the Registrar's Office, you are eligibility to register for courses is affected by your financial standing. All students registered at The Mico University College have a financial obligation and must satisfy this obligation to be able to attend classes, use facilities and participate in activities. A student is responsible for his/her tuition and other fees upon registration. If the student is on scholarship or his/her fees are being paid by a third party, the student is responsible to ensure that these funds are paid over to The Mico University College.

This is a staff here at The Mico University College doing some work in relating to student financial regulations and procedures.

Each successful applicant is required to pay at least 50% of the fees for the first semester, by the last working day in July, and the other 50% by the first day of registration. The dates for registration for Semester II and III will be posted on the Campus notice boards.

REMINDER

STUDENTS ARE REQUIRED TO REGISTER AT THE BEGINNING OF EACH SEMESTER

At registration, students must provide evidence that fees have been paid. To start the registration process, students are required to take their section of the bank voucher to the Bursary and collect a ‘Registration Authorization Form' attesting to your payment of all required fees and being in good financial standing.

REMINDER

A student who is in good financial standing is one who has paid all fees and fines that are due.

Payment at the Accounts Department must be made between the published opening hours. Cash amounts above thirty thousand dollars will not be accepted. Non cash payments must be made using a manager's cheque or approved company cheque. Personal cheques are not accepted by the University College.

PENALTIES FOR LATE REGISTRATION AND NON-PAYMENT

A Late Registration Fee will be attached to each delinquent student's bill on registration. Transcripts, Status Letters, grades for course work and/ or examination result will be withheld from students until all debts to the University College have been settled. If outstanding balances are not settled, students will be ineligible for readmission or registration for a future semester.

REMINDER

Transcript and degree requests will not be processed if a student is delinquent in paying fees.

PAYMENT DEADLINES

All tuition, miscellaneous and boarding fees are due at the beginning of each academic year. A student may however opt to pay by semester.

  • For Semester 1 - fee should be paid by the third Monday in August
  • For Semester 2 - fees should be paid by the first Monday in December
  • For Summer Session - fees should be paid by the last working day in May
  • OR

  • Students may enter into individual payment plans. This can only be done with the University College through the Bursary
  • Failure to meet these deadlines will result in penalties as set out in the earlier section

DEFERRED PAYMENTS

Students who have been approved for student's loan should submit proof of agreement indicating Category "E" status from the Students' Loan Bureau at registration. Overseas students with government sponsorship MUST submit a certified letter of commitment at registration.

SPONSORED STUDENTS

A private or government agency which is sponsoring a student must provide the Accounts Department with the following information before the student can be registered:

  • The student's name
  • The student's ID number
  • The programme for which the student is registering
  • Specific charges and semester(s) the sponsors is undertaking to pay

The funds committed must be paid by the third Monday in August. If payment is not received, the student becomes liable for fees owed. Read More