College Policy for the Refund of Deposits
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- College Policy for the Refund of Deposits
1. Purpose:
This policy establishes the guidelines for refunding deposits paid by students, ensuring clarity and fairness while maintaining institutional financial stability.
2. General Policy Statement:
- Deposits paid by students are non-refundable except in the case of visa refusal.
- No refunds will be issued if a visa is granted but the student chooses not to attend.
- No refunds will be issued for withdrawals or deferrals after the deposit has been paid.
- This policy applies to all students who have paid deposits for any course at the institution.
3. Refund Eligibility Criteria:
A student may only request a refund under the following condition:
- Visa Refusal: The student must provide official proof of visa refusal from the relevant visa authority.
4. Refund Request Process:
- The student must submit a written refund request along with proof of visa refusal.
- The finance team will review the request and verify the visa refusal status.
- If approved, the refund will be processed within [specified timeframe] and returned through the original payment method.
- Any administrative or processing fees may be deducted from the refund amount.
5. Non-Refundable Scenarios:
- Visa Granted but Student Withdraws: If a student’s visa is approved, but they decide not to attend, no refund will be given.
- Course Withdrawal: If a student voluntarily withdraws from a course after paying the deposit, no refund will be issued.
- Deferral Requests: If a student wishes to defer their admission to a later intake, the deposit will be retained for the deferred intake but will not be refunded if they later decide not to attend.
6. Responsibilities:
- The Finance Team is responsible for processing refund requests and maintaining records of transactions.
- The Admissions Office is responsible for communicating this policy clearly to students at the time of offer issuance.
- The Compliance Team ensures that refund policies align with institutional and regulatory guidelines.
7. Record Keeping and Compliance:
- All refund transactions and records will be securely maintained for audit purposes.
- The institution reserves the right to update this policy as necessary to comply with financial and regulatory changes.
Institution Details:
School of Business and Management
67A High Road, Wood Green, London, England, N22 6BH, UK
Email: info@sbmuk.org
Phone: +44 7515 332122, +44 2034 885310
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