Finance and Study Expenses

Finance

And Study Expenses

The IIE’s Varsity College programme fees are ONLY for tuition. Educational material and textbooks are for your account.

https://www.varsitycollege.co.za/fees-and-finance

Payment Methods and Instalment Plans

PLEASE NOTE: We reserve the right to recalculate fees without prior notice should the account payer default on payment.

International students can only settle their fees using the full settlement, early settlement, 3 or 6 month payment options.

Please note that only one payment method may be selected.

Payment methods and instalment plans are:

Full Settlement

The minimum payment for Full Settlement is due the earlier of 6 February 2021 or registration. Final payment is due by 6 March 2021. Please note that should we not receive the registration contract and confirmation of payment before 8 February 2021 - returning students will be levied a Late Registration Fee.

Full settlement is a lower value amount than the 3, 6, 9 or 10 month instalment plan options.

3 Month Instalment Plan

The deposit is due by the earlier of 6 February 2021 or registration. The balance is is due over the next 3 consecutive months. This is a lower value amount than the 6, 9 or 10 month instalment plans.

6 Month Instalment Plan

The deposit is due the earlier of 6 February 2021 or registration. The balance is due over the next 6 consecutive months. This is a lower value amount than the 9 or 10 month instalment plans.

9 Month Instalment Plan

The deposit is due the earlier of 6 February 2021 or registration. The balance is due over the next 9 consecutive months. This is a lower value amount than the 10 month instalment plan.

10 Month Instalment Plan

The first instalment is due by the earlier of 6 February 2021 or registration. The balance is due over the next 9 consecutive months.

Early Settlement

This is a once off full payment of the tuition fee with a 5% discount on the full settlement payment option. Payment must be received by latest 5 February 2021 in Full. If payment is received after this date, the full settlement option becomes applicable.

Payment Due Date

Fee payment/instalments are due within the timelines indicated in the table below. Instalments for the 3, 6, 9 and 10 month payment plan are due monthly and must be paid before the last day of the due month. If the last day of the month falls on the weekend, The IIE’s Varsity College request that payment be made by the last working day before in order for the payment to reflect for the correct month.

A. Full Settlement* Earlier of 6 February 2021

B3. 6 Months

B4. 9 Months**

Payment Methods NO CASH PAYMENTS ON CAMPUS

In the interest of safety and security, cash payments are not accepted on campus and we request that you make cash payments directly into the campus bank account. The following steps will be followed by The IIE’s Varsity College in the event of non-payments; Account 30 days in arrears – Access to your online portal will be blocked.

Account 60 days in arrears – Notice of suspension will be issued.

Account 90 days in arrears – You will be suspended and denied access to your respective campus to attend lectures or take part in activity taking place on campus. Results will be withheld and the you will not be able to register for additional modules until the account is settled.

Account 120 days in arrears – Account will be handed over to the Pre-legal department. Any cost incurred thereafter will be for the account payer. The IIE’s Varsity College reserves the right to withhold assessment results as well as The IIE certificate until such time that all fees are settled in full.

During this period, you will still be expected to submit all assignments as well as write assessments and exams as required. The IIE’s Varsity College reserves the right, in terms of The IIE policy, to withhold assessment results as well as The IIE certification until such

Payment Method

B1. 10 Months**

B2. 3 Months

C. Early Settlement

Deposit or First Payment Due Date

March 2021

or Registration

N/A

time that all fees are settled in full.

First/Further Instalment Due Date

N/A

March 2021

March 2021

March 2021

March 2021

N/A

Final Payment Date/ Instalment Due Date

6 March 2021

November 2021

May 2021

August 2021

November 2021

5 February 2021

Payments by means of cheque, credit card or debit card may be made at the campus cashier.

Cash or cheque payments may be deposited at any branch of ABSA Bank. Please note that Direct Deposits and EFT’s are only available for Early and Full Settlement payments, Deposits and first instalments for 10 months. Should you select terms as your payment method - you will be required to complete a debit order instruction.

Please ensure that the deposit slip is completed, accurately, as follows:

Add the campus name after the words ‘VARSITY COLLEGE’, e.g. ‘VARSITY COLLEGE – PRETORIA’. See below for the correct banking details for the campus that you are enrolling to study at.

Bank: Branch: Branch code: Account name: ABSA Corporate Gauteng 632005 VARSITY COLLEGE

Debit Orders

Debit orders are run on the 1st, 15th or 25th of each month. If you have selected terms as your payment method - please complete the DEBIT ORDER INSTRUCTIONS in the registration contract. Debit orders are available for South African students, and International students with South African bank accounts. International Payments are only available for International Students that do not have local bank accounts.

Unpaid/Returned Debit Orders

Unpaid or returned debit orders will incur a R300 administration charge and, in addition, The IIE’s Varsity College reserves the right to reverse any discounts previously allowed should the terms and conditions of such discounts no longer be met. Payments into the incorrect campus bank account will cause a delay in crediting your account and will cause your account to go into arrears.

Insert accurate depositor details and contact telephone number otherwise the campus will not be able to contact the depositor in the event of a payment query.

Ensure that the STUDENT NUMBER is used as the payment reference. If the student number is not available at the time of payment, then please use the student’s ID number and student’s surname. Please fax/email the deposit slip to the campus finance department as proof of payment and retain the original for your records.

Account number: Cape Town campus: Durban North campus: Pietermaritzburg campus: Port Elizabeth campus: Pretoria campus: Sandton campus: Waterfall campus: Westville campus: VC Online: 4052259471 4052241080 4052241315 4052259023 4052245482 4052240115 4078316043 4052241551 4091759511

Student Loans

Student loans are provided by certain registered financial institutions, such as banks. These loans are structured in such a way that, during the time you are studying, all that needs to be paid on a monthly basis is the interest accrued on the amount you have borrowed.

Only when you complete your studies and enter the working world, will the capital amount of your loan need to be repaid. Should you require a list of institutions that can provide advice or assistance, please ask a Student Advisor.

Where students are the recipients of a Loan or Bursary Account payers are liable for any deficit between fees billed and payment received.

REPEAT MODULE FEES

Are charged where a student is required to repeat a module of an IIE programme to progress. The fee amount, where applicable, is available at your campus. Please note that, in line with academic programme criteria, you are only able to register for a maximum number of module credits per academic year. Please ensure you are registered for the correct number of credits before completing this section. Should you require assistance on this, please contact the Admissions Centre or the Customer Relations Centre on campus.

PHASE OUT MODULES

Students who are required to complete phase out modules will be charged a fee of R5000 (full settlement) per module, or the actual module fee - whichever is the lesser.

BCOM, BCOM LAW AND BCOM ENTREPRENEURSHIP TUTORIAL MODULES (CONTACT STUDENTS ONLY)

Students who achieve either a Maths Literacy mark between 50% and 59%, or a Maths mark between 30%-39% may be admitted in 2021 for contact study towards the Bachelor of Commerce, Bachelor of Commerce in Entrepreneurship or the Bachelor of Commerce in Law on condition that they participate in the compulsory additional tutorials. These tutorials cost R1500 each. See the BCom section for more details.

SPORTS CLUB FEES

R300 (non-refundable) is charged to all students who join The IIE’s Varsity College Sports Club. The fee entitles you to participate in any one of the organised sporting activities on campus and you will receive a 2021 Sports Club T-shirt. The fee excludes the costs of The IIE’s Varsity College branded sports attire and any annual subscription fees that may be required to join our open clubs e.g. VC Rugby Club or licenses that may be required by national sporting bodies to officially participate in their events. International students registering for the first time will be subject to an International Student Levy of R6500, payable on registration. Returning international students will be required to pay R5500.

LATE REGISTRATION FEE

A late registration penalty fee of R2000 will apply to Full-Time returning students who do not meet the 8 February 2021 registration deadline. Returning postgraduate and returning Part-Time students will be levied a fee of R1000 post 8 February 2021.

SPECIAL CONCESSIONS (BRIGHTSPARKZ)

For further information on how to apply for a special concession please refer to the academic information section related to Special Concessions. For the costs of using BrightSparkz please chat to your Head: Academic on campus or contact BrightSparkz directly. The BrightSparkz contact details can be found in the Academic Support section of this handbook.

Your Head: Academic can guide you through this process, and can provide a referral to an Educational Psychologist in your area if necessary for a special concession assessment. Students who request a separate venue for assessments due to medical conditions would also need to speak to the Head: Academic on campus.

After the marking process has been completed and the mark is disputed, even if no error is picked up, you may request a remark within five working days at a cost of R250 per script.

SUPPLEMENTARY EXAM

A contact undergraduate student who receives a minimum of 30% for a summative assessment is permitted a second opportunity to write the examination (known as a supplementary examination (SUP)) or resubmit the summative assessment if it is a portfolio or practical. The cost of a supplementary exam is R500. If this payment has not been received upfront it will automatically be billed to your account.

SPECIAL EXAM

Special examinations are for undergraduate students who have only two modules outstanding that prevent them from graduating. All special examinations take place in the third sitting. The cost of a special exam is R500. If you misplace your student card which is your identification card and access to campus, you will need to replace it at a cost of R50. No student card, no access.

CERTIFICATE REPRINT

Should you misplace your qualification, you may request a reprint at a cost of R400.

Scholarships and Bursary Details

The IIE’s Varsity College have a variety of scholarship, bursaries and awards available. To find out more, book an appointment with a student advisor at an IIE Varsity College campus close to you.

1. Academic Scholarships and Awards

ACADEMIC SCHOLARHSIPS

The IIE’s Varsity College Scholarship Programme is a merit-based programme with a Corporate Social Investment element, focused on ensuring access to top performing prospective students who would not otherwise have been able to access private higher education. These scholarships in all programme categories apply only to undergraduate students, who have applied to the IIE’s Varsity College, for their first year of study at any higher education institution. These scholarships are limited in number. Qualifying applications will be reviewed and Scholarships will be awarded to selected applicants based on Academic merit, written submissions and financial need Scholarships are available in Business, Humanities, IT, Education, Law and Finance

• Excellence Scholarship: To qualify for an Excellence Scholarship, you must have achieved an average of at least 75% in Grade 11, or equivalent, excluding Life Orientation, or 4 subjects (other than Life Orientation) with 80% or more. • Corporate Scholarship: Corporate Scholarships are Excellence Scholarships that are offered in partnership with national companies and organisations and may thus include access to mentoring, job shadowing and internships. • Achiever Scholarship: The Achiever Scholarship is for candidates with a Grade 11 average of at least 65% and a household income less than R600,000 per annum. * • Rising Stars Scholarship: The Rising Stars Scholarship is for candidates with a Grade 11 average of 60% or more with a household income of less than R400,000 per annum.

*Selection criteria apply

The scholarships are for the full minimum duration of study of the qualification subject to the student making sufficient academic progress to complete the qualification in minimum time. These awards are for contact study across all 8 IIE Varsity College campuses. Allocations per discipline and campus vary at the brand’s discretion. The application requires the completion of an IIE Varsity College application together with a scholarship application, a 600word motivation and other supporting documentation. Scholarship applications will not be considered beyond the closing date of 30 September 2020. All qualified applicant submissions will be reviewed and successful notified in writing.

ACADEMIC AWARDS

Awards are awarded to prospective and current students who have excelled academically and include the following:

• NSC Award: Any scholar achieving a National Senior Certificate pass with an average of 80% across seven subjects qualifies for an NSC award. * • The Aggregate Distinction Award: Any student who attended lectures in 2020 and obtained a 75% aggregate for any Full Time Qualification qualifies for an academic award

in 2021. * *T & C’s apply

Engagement Bursaries are awarded to students who are registered at The IIE’s Varsity College and hold positions of leadership. Bursaries awarded to current students serving on the following student committees: VC Cares, Social Committee, Sports Committee, VC Voice and Career Centre Ambassador Bursaries.

3. Sports Bursaries

There are a number of sport bursaries available to students who have excelled in their respective sport disciplines according to the different categories included below and further details included in the Student Services section of this handbook.

National Sports Discretionary Bursary Major Sports Club Bursaries Sports Club Administrator Bursary

Prospective applicants should contact a campus and speak to a Student Advisor, who will supply more information and provide an application form.

4. Family Loyalty Award

This award is awarded to any student, who has an immediate family member who is concurrently studying at The IIE’s Varsity College in 2021. The

Conditions

Please note that all awards, bursaries, and scholarships (hereafter referred to as Awards unless stipulated) are subject to the following conditions. Awards may only be applied for when the following conditions are met: performance and are applicable to 2021 programme fees only, unless otherwise stipulated.

Corporate Bursaries and Staff Bursaries or unless specifically stipulated in the definition, do not apply to Part Time students. value of the award is 5% of the qualification that is being completed, provided the account payer is the same. The award does not include academic material.

5. Leadership Awards

Any student who was head prefect, or equivalent, of a school during 2020, who is registered for a full complement of subjects/modules and who is attending lectures at The IIE’s Varsity College in 2021, qualifies for a R6000 award in respect of 2021 tuition fees only.

Any student who was deputy head prefect, or equivalent, of a school during 2020, who is registered for a full complement of subjects/ modules and who is attending lectures at The IIE’s Varsity College in 2021 qualifies for a R3500 award in respect of 2021 tuition fees only.

6. Other

Additional awards and bursaries for academic and sport are available, that are specific to individual campuses. Ensure you speak to a Student Advisor from your chosen campus before selecting this option.

Bursary, scholarship and award offers are subject to change or withdrawal, are offered at the discretion of The IIE’s Varsity College and cannot be confirmed

Academic awards are in respect of 2020 Awards, except for Sports team bursaries, until registration is complete.

A full complement of modules must be registered for, as per the IIE programme structure document. This is applicable to academic awards, engagement, and leadership awards.

For undergraduate students in their final year of study: a minimum of 4 modules must be registered for, to qualify for an award or bursary.

Only students who studied an IIE undergraduate degree and achieved an average of 75% in their final year studies, are eligible to apply for an academic award if they register for a full-time IIE postgraduate programme.

While more than one category of award may be applied for, the maximum amount of award support per student per year is up to 20% of the programme fees except for Sports Club, where the values may be higher. This rule may not apply to scholarships – a student on a scholarship is not eligible for any other award.

Family Loyalty awards will only be paid where the account payer is the same for both family members

Awards are calculated per payment plan selected, with the exception of the 10% early settlement discount for first year part time and first year postgraduate students, where this will be based on the full settlement value.

Should the account fall into arrears and payments not be made according to the payment plan selected, The IIE’s Varsity College reserves the right to cancel the award and reverse part or all the credit awarded. Should a registration contract be cancelled, the award will be reversed prior to the calculation of any penalties or fee portion owing. Please note Award applications will not be considered if:

they are not received by 1 April 2021 for all programmes. they are not accompanied by the necessary documentary evidence (e.g. testimonial, exam results, letter on sports union letterhead, etc.) All applicable students must be issued with an Award approval letter confirming the award. Repeat modules must not be included in the Award Calculations.

Modules that are credited academically from the current academic year must be removed from the fee total before any percentage award calculation is calculated.