Skip to content

Finance

Fees

There are two methods of fee payment. The first is a discounted (i.e. less 5%) single fee payment, where all fees are paid by the date of the first fee 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 below or as invoiced.

Fees cover accommodation at the College for period of the entire academic year, including mid-semester breaks and the winter 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 are paid by personal or bank cheque, cash (do not post), direct credit, or credit card (a 3% surcharge applies to credit card payments to cover bank commission charges). Bank account details are provided on fee invoices.

The College is not responsible for any bank and/or currency conversion charges associated with making international funds 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.

College staff must be able to clearly identify the resident on whose behalf the payment has been made, therefore the College reserves the right to charge a $25.00 administration fee for incorrectly/unclearly referenced deposits.

Late Payments

Late fees of $25 per week may apply where fee payments 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 below. At the end of the year, Members may stay until the final date given or 24 hours after their last examination, whichever is earliest. 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.

Loans and Allowances

While Members may apply for government loans and allowances to cover accommodation, the College fees must be paid by the Members. The government will loan money to 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.

Leaving the College during the Academic Year

Members who choose, or are required, to leave the College during the year for any reason are liable for the entire year's fees. Only in special circumstances may this be reduced by the College.

Withdrawal Prior to the Academic Year

Members who withdraw their acceptance of a place at the College after the deadline date set forth on their acceptance letter will lose their Application and Activities Fee and will be liable for the full year’s accommodation 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.

Damage to Property

All damage to College property, whether wilful or accidental, must be reported to the Administrator 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 Administrator will decide what action, besides repairing the damage, is required. Damage that is not reported is regarded as vandalism, making individuals, floors, or all College Members liable for extra charges.

Refund of Fees

The College does not refund fees if Members are away from the College for any reason during the year.

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 ($90 per person in 2018). 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.