Set up a payment plan to fund your MBA
If you are based in Canada or New Zealand, you have the option to spread the cost of your studies over a 36-month period, making it even easier to gain your MBA. This section takes you through the ins and outs of this payment method however you should refer to your terms and conditions.
There are several policies and procedures relating to fees and payment options which you should refer to. These are:
- the Student Refund Policy and Procedure
- the Student Review Procedures for Re-Crediting a FEE-HELP Balance and Refund of Fees Policy
- the Statement of Tuition Assurance
- your specific payment terms and conditions provided at the time of your enrolment.
At AIB we use the word ‘course’ to refer to the qualification you are studying i.e. Master of Business Administration (MBA) or Graduate Certificate of Management (GCM) and ‘subject’ to refer to the modules that make up each qualification i.e. Leadership, Project Management etc.
If you are based in Canada or New Zealand, you have the option to spread the cost of your studies over a 36-month period, making it even easier to gain your MBA.
As with all things financial, it’s important to be aware of the conditions associated with this payment method, especially if you are looking to change your subject, the way you pay for your studies or if you’re looking to put a pause on your payments. Whilst we’ve included a few key points to note below, this is by no means an exhaustive list, so always refer back to your terms and conditions (provided at the time of your enrolment).
Key points to note:
- You are required to pay all subject fees, by the due dates, to the direct debit service provider that AIB notifies.
- The cost of your course is spread over 36 monthly payments. If you complete your course quicker than 36 months, your monthly payments will continue after you’ve completed the course.
- If you are granted exemptions, the duration of your payment plan might decrease.
- Your payment plan covers you for 12 subject enrolments. Any re-enrolments that take you beyond the 12th subject enrolment, will not be covered by your payment plan and you will need to pay for this subject by another means. If this applies to you, our enrolment team will provide you with an invoice which will need to be paid in full, by the administration date listed on your timetable. Please note, the subject fee for any enrolments not covered by your payment plan will be charged at the rate applicable at the time of the enrolment.
- The deposit paid when you initially set up the payment plan will be credited to the subject fee of your first subject.
- You should allow 7 days from the date of debit for your payment to clear and to show on your statement.
- Your award will only be conferred once all incurred subject fees have been paid.
- Withdrawing from the course if using a payment plan:
- Please refer to the withdrawal section of this Handbook in addition to your specific payment terms and conditions.
- If you withdraw from the program after the census date of your first subject, you will be liable for the cost of the first 3 subjects before you will be permitted to exit the course.
- As your initial deposit is credited to the tuition fee of your first subject, this will not be refunded to you if you withdraw.
- Cancellation or termination of a Direct Debit Contract does not relieve you of your obligations to pay the subject fees and all other fees referred to in this Student Handbook, your LOO, and your Direct Debit Contract.
- Any fees or expenses incurred by or charged to AIB as a result of or arising from the cancellation of a Direct Debit Contract or a student’s failure to pay the subject fees, as outlined under the Direct Debit Contract (such as AIB’s direct debit service provider’s reversal fees or credit card chargeback costs and AIB’s legal costs on an indemnity basis) are payable as a debt by the student to AIB on demand.
Check your balance
To request a statement of payments and/or remaining balance, please send this in writing, to a member of our Student Central team who will be happy to help.
Changing your payment date or bank details?
If you’d like to make a change to your payment date or need to update your bank details, please reach out to a member of the Student Central team who will be happy to help.
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- Can I take a break from my payment plan?
- I’ve completed my MBA, what happens to my payment plan?
- Can I change my payment method or the way I pay for my subjects?
- I am finding my studies challenging, is there any additional support available?
- How do I contact Student Central?
We understand that there may be times when it’s necessary to take a break from your studies, however there are key conditions that you need to continue to meet if paying for your studies using a payment plan. To avoid any surprises, we recommend you read the terms and conditions provided when you signed up to the payment plan.
Also, we encourage you to reach out and chat to our Student Central team before you consider taking a break from your payment plan, as your situation will be unique, and the team will be able to provide specific information according to your circumstance.
Restarting your payment plan
To re-start your payment plan, please reach out to a member of our Student Central team or chat to your Enrolment Advisor when you enrol into your next set of subjects.
Reducing your payments
We understand that sometimes things don’t always go according to plan!
If you need to request a reduction of your payments, please give our Student Central team a shout.
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Congratulations! What an incredible achievement.
There are two options from here:
- Continue with your payment plan until all incurred subject fees are fully paid or,
- Settle the outstanding amount in a lump sum.
To settle the outstanding amount in a lump sum, please contact a member of our Student Central team for confirmation of your remaining balance and payment methods to settle your final balance. Once you’ve made payment, please send through your remittance advice so that we can match your payment with your student account.
Please note regardless of which option you choose; your award will not be conferred until the final payment of incurred subject fees is received. Once your full balance has been settled, your award will be conferred at the next award approval meeting. Head to our AIB award approval cut-off dates document for these dates.
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