Fees & Finance
Acceptance & Accommodation Fees
Acceptance Fee
Non-refundable fee due upon acceptance of a place:
- New Members NZD $1,100.00
- Returning Members NZD $550.00
Not a deposit
The acceptance fee is not a deposit against accommodation fees (see below). In most cases, the acceptance fee is not covered by a scholarship.
Accommodation Fees
There are three options for payment of fees. The first is a discounted (i.e. less 5%) single fee payment, where all fees are paid in full by Friday, 22 January 2027. The single payment discount is not available after this date (with the exception of offers made after this date).
The second and third options are either four instalments every two months or eight monthly instalments due by the dates given under Instalment Payments or as invoiced.
Full Payment
When paid in full on or before Friday, 22 January 2027, accommodation fees for the 2027 academic year are:
- New Members NZD $23,753.80
- Returning Members NZD $22,490.30
The above amounts include a 5% discount to the total fee amount (i.e. the amount that would be due due if paying by instalment - see below).
Instalment Payments
As an alternative to the discounted amounts above, accommodation fees can also be paid in either four or eight equal instalments.
| New Members | Returning Members | |
|---|---|---|
| Total 2027 accommodation fees When paying by instalment |
NZD $25,004.00 | NZD $23,674.00 |
| Instalment payments Due by the dates listed below |
4 x NZD $6,251.00 or 8 x NZD $3,125.50 |
4 x NZD $5,918.50 or 8 x NZD $2,959.25 |
Instalment payments are due on the following Fridays in 2027:
Four instalments — 22 January, 26 March, 28 May, 30 July
Eight instalments — 22 January, 26 February, 26 March, 30 April, 28 May, 25 June, 30 July, 27 August
Payment frequencies
Please note that we are unable to offer any other payment options.
Choice of Payment Option
As a part of the acceptance process, you will be asked to let us know your preferred option for payment of your fees. We would be grateful if you could please let us know your choice as soon as possible. If you need to change your payment option, please get in touch.
If you elect to pay by instalment, you will be sent an invoice 21 days before each due date.
Methods of Payment
Fees can be paid by direct credit/internet banking, Eftpos or Payapp (in person), credit card (online only, subject to a surcharge to cover bank fees), or international (telegraphic) transfer. Bank account and telegraphic transfer details are provided on invoices. Cash or cheque payments are not accepted.
The College is not responsible for any bank and/or currency conversion charges associated with making international transfers. These charges can vary from bank to bank, and as such Members should make these payments with field 71A option OUR selected, i.e. sender pays all fees.
Late Payments
Late fees may apply when fees are overdue. Members with overdue accommodation fees may be charged a late fee of $20 per week outstanding. For other invoices such as casual meals or overnight guests, the overdue fees are 10% of the invoice total for each week the invoice remains outstanding.
The College reserves the right to engage a debt collection agency to recover outstanding amounts. In this instance, the costs of legal fees or other collection costs will be added to the debt. In some cases, the College may request the University to withhold examination results.
Student Loans and Allowances
Student Loans can not be used to pay college accommodation fees. While Members may be able to access additional support from StudyLink, depending upon their circumstances, accommodation fees must be paid directly by the Members.
The student allowance may assist with paying your College fees but please be aware the amounts available are generally not sufficient to cover the year’s fees, and that the first payment date for fees is before loans and allowances are paid.
Bonds
St Margaret's College does not charge a bond.
Other Costs
Members are advised that while College fees cover the usual board and lodging costs including food and most social activities organised by the College, they do not cover items such as medical and medicine costs. The College’s Annual Ball, while subsidised by the Members' Association, is also an additional cost for Members. The annual ski trip is also an added expense for those wishing to participate. From time to time there may be other College-arranged activities that require a contribution by Members, such as floor outings/activities. Members are therefore advised to have some funding available for these expenses.
Scholarships and Financial Assistance
Entrance Scholarships
The College liaises with the University to obtain scholarship funds directly, however, ultimate responsibility for the payment of fees remains with Members. University policy states that scholarships may only be used for accommodation fees during the first year of study, and do not cover acceptance fees.
In the unfortunate event of a mid-year withdrawal, the University may require that some or all of the scholarship funds used for accommodation fees be repaid. As such, Members are encouraged to explore alternative options to withdrawing before making a final decision.
In most cases Entrance Scholarships from the University of Otago are applied as an accommodation fees waiver in the first year of study. The College will take care of the arrangements to obtain payment directly to us, and will appear as a credit on your accommodation fees invoice. If you elect to pay in full, the credit will be applied to the discounted amount shown above. If paying by instalment, the credit will be spread equally across the instalment amounts.
For example, a $6,000.00 scholarship and paying:
| Payment Option | Amount after scholarship |
|---|---|
| In full, by Friday, 22 January 2027 (with 5% discount) |
$23,753.80 - $6,000.00 = $17,753.80 |
| 4 instalments (each payment) |
$6,251.00 - ($6,000.00 ÷ 4) = $6,251.00 - $1,500.00 = $4,751.00 |
| 8 instalments (each payment) |
$3,125.50 - ($6,000.00 ÷ 8) = $3,125.50 - $750.00 = $2,375.50 |
St Margaret's College Centennial Scholarship Fund
The College maintains a scholarship fund for those Members without an entrance scholarship experiencing financial issues. Full details and the application form are available on the College's website.
Financial Difficulties
The Business & IT Manager is happy to advise College Members who have financial problems, but this conversation should take place as soon as possible.
Residential Dates
The fees above cover accommodation from the move in date of Saturday, 20 February 2027 to either 24 hours after the student's last exam or Sunday, 14 November 2027, whichever date is earlier. Members are required to leave within 24 hours of the last exam in the interests of those still studying. Any exemption will only be given by the Head of College and a daily charge will apply.
Please note that for Members who are required to start their course earlier than Saturday, 20 February 2027 and wish to stay at the College, an additional daily charge will apply.
Refunds and Liability
Refund of Fees
The College does not refund fees if Members are temporarily away from the College for any reason during the year, or withdraw permanently for any reason after Friday, 22 January 2027, unless an acceptable replacement Member is offered and accepts the withdrawing Member's place. In the latter case, the refund will be pro rata based upon the date the replacement Members take up residence.
Responsibility for Fees and Indemnification
When accepting a place at St Margaret's College, the parent/guardian/caregiver of the Member:
- Undertakes full and final responsibility for their fees; and
- Indemnifies the College for any loss suffered as a result of any breach of rules/conditions of residence by the Member. This may include financial penalties.
Damage to Property
All damage to College property, whether wilful or accidental, must be reported to the Head of College in writing - preferably by the person(s) who caused it, but otherwise by concerned Members. Repairs can be arranged by also reporting the damage in the maintenance book in the foyer. The Head of College will decide what action, besides repairing the damage, is required. This may include requiring the Member(s) involved to pay for any repairs. Damage that is not reported is regarded as vandalism, making individuals, floors, or all College Members liable for extra charges.