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Finance

Fees

There are three methods for payment of fees. The first is a discounted (i.e. less 5%) single fee payment, where all fees are paid by the date of the first instalment payment. The single payment discount is not available after this date (with the exception of offers made after this date). The second method of fee payment is for four equal payments by the dates given in the Fee Schedule or as invoiced. The third method of fee payment is for eight equal payments by the dates given in the Fee Schedule or as invoiced.

You will be asked to specify your preferred method following acceptance of a place. If you elect to pay by instalment you will be sent an invoice 30 days prior to each due date.

Fees cover accommodation at the College for period of the entire academic year, including mid-semester breaks and the mid-year holiday between the two semesters. The period begins on the published arrival date and ends 24 hours after a Member’s final examination or the day following the official end date of examinations in November, whichever is the earliest.

Method of Payment

Fees can be paid by direct credit, Eftpos (in person), credit card (in-person or online) subject to a 2.5% surcharge to cover charges, or international (telegraphic) transfer. Bank account and telegraphic transfer details are provided on invoices. Cash or cheques 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 where fees are overdue. 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.

Semester Dates

Fees cover the dates a Member of College is in residence within the date period specified in the Fee Schedule. At the end of the year, Members may stay until the final date given or 24 hours after their last examination, whichever dayr is earlier. A daily rate is charged if Members wish to arrive earlier than the published arrival date or stay after the final exam; express permission from the Master is required in these instances. The College has this rule to ensure that those doing late examinations have the benefit of a quiet environment at a stressful time.

Student Loans and Allowances

StudyLink will not directly pay for residential college accommodation fees. While Members may apply for government loans and allowances to cover accommodation, the College fees must be paid by the Members. StudyLink loans may assist with paying your College fees but please be aware that the accommodation loan is not sufficient to cover the year’s fees, and that the first payment date for fees is before loans and allowances are paid. Please take care to fill in the loan application correctly and completely, as while the people administering the government system are there to help, any problems with details will delay payment.

Scholarships

The College liases with the University to obtain scholarship fund directly, however ultimate responsibility for the payment of fees remains with the Member. University policy states that scholarships can only be used for accommodation fees, and not acceptance fees.

Financial Difficulties

The Master is happy to advise College Members who have financial problems but this conversation should take place as soon as possible.

Refund of Fees

The College does not refund fees if Members are a. temporarily away from the College for any reason during the year, or b. withdraw permanently for any reason after 20 January 2021, unless an acceptable replacement Member is offered and accepts the withdrawing Member's place.

Responsiblity for Fees and Indemnification

When accepting a place at St Margaret's College, the parent/guardian/caregiver of the Member:

  1. Undertakes full and final responsibility for their fees; and
  2. 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 Master 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 or by emailing maintenance staff at workshop@stmargarets.college. The Master 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.

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 College, is also an additional cost for Members ($75 per person in 2020). The annual ski-trip is also an added expense for those wishing to participate. From time to time, there may also be other College-arranged activities that may require a contribution by Members. Members are therefore advised to have some funding available for these expenses.