Cornerstone Institute Banking Details

Cornerstone Institute Banking Details

Banking Details

GENERAL

• The annual fee is determined by the number of modules the student registers for the academic year (January – November). Each module is assigned a specific credit value which also determines the time needed to do this module.  Please plan accordingly.
• Each student (including July intake) is required to register in January each year and pay the initial payment.
• Students who register in July are registered for the second semester of the academic year (July-November).
• Students studying for non-credit purposes (AUDIT) pay half of the tuition fee applicable.
• Tuition fee rate is double for International students. (Excludes African Countries).
• Campus-based students who require a study visa to study at Cornerstone must pay 60% of the tuition fee in advance before a visa letter will be issued. (This includes African Countries).
• Financial aid applications for new students close at the end of January.
• Financial aid applications for returning students close at the end of October

(https://cornerstone.ac.za/finance/financial-aid-application/ )

PAYMENT OF FEES

• Students are responsible for the full payment of all fees and expenses according to their annual statement.
• R2000.00 Annual payment plan fee will not be applicable with payment of the non-refundable initial payment made at registration and the balance of tuition fees by the end of February.
• R1000.00 deducted from the annual payment plan fee with payment of the non-refundable initial payment made at registration and balance of tuition fees by end of March.
• R1000.00 Annual payment plan fee will not be applicable with payment of the non-refundable initial payment made at registration and the balance of tuition fees paid by the end of July. (July intake)
• If a student is being sponsored, it is the student’s responsibility to contact sponsors to ensure payments are met.
• Students must always use their student number as a reference for ALL correspondence with the financial office.
• Students must ensure that they check their statements. Statements will be considered correct if no written communication is received within 30 days of date of statement. Enquiries can be made at the financial office at [email protected]
• Receipts are only issued for cash payments.
• When making EFT payments, students should email proof of payment to [email protected]
• Statements are sent via email. Copies can be obtained directly from the finance office.
• Promotional discounts may be offered from time to time. Conditions apply.
• By the end of the first semester, half of the students’ total outstanding fees for the year must be settled in order for a grade report to be issued.

PAYMENT PLAN

• For the January intake, an Initial Payment of R5000.00 is payable before or at registration. The balance of the fees will be divided into a 10 month payment plan, from February – November.
• For the July intake, an Initial Payment of R5000.00 is payable by the end of June. The balance of the fees will be divided into a 5 month payment plan, from July – November.
• The Initial Payment is applied to the tuition fee.

 REFUND OF FEES

• The R5000 initial payment is non-refundable.
• All administration fees due at registration will not be refunded.
• Cancellation AFTER the first 10 (ten) working days at the start of a semester: only tuition fees in advance (less non-refundable costs and withdrawal fee) of the student’s current semester will be refunded.
• Non-compliance with withdrawal/cancellation procedure will result in no refunds.

 NON-PAYMENT OF FEES

Students who are more than 30 days outstanding will be put on financial suspension, resulting in the following consequences:

• The student may not attend class.
• Access to course material on the student portal will be withheld.
• Examination results and/or qualifications will be withheld.
• Should a student’s first semester fees not be settled by the end of the first semester, the second semester modules will be cancelled and an automatic fee suspension will be applied
• Registration for the following year is not permitted unless the student’s account is settled in full.
• Failure to meet agreed payment plan will result in the outstanding fees being handed over for collection with costs.