Notes for Members 2006–2007 - St Edmund's College - University of ...

54 College Discipline and the Payment of Bills
Account Number: 00715572
Bank Sort Code: 30 91 56
Swift Code:
LOYDGB21018
IBAN:
GB24LOYD30915600715572
Reference:
[Forename.Surname]
(3) Cash. Cash Payments in excess of £50 cannot be accepted for
insurance reasons.
(4) Debit Card. There is no surcharge or limit on debit card payments.
(5) Credit Card. A surcharge of 2% will be added to your total for credit
card payments. Students may use credit cards to make payments up
to £250.
Please be advised that we are using chip and pin technology so you will
need to know your pin number in order to make a card payment.
9.2.3 Financial Difficulties
By careful management of their finances, most students, postgraduates and
undergraduates, complete their degrees without any undue financial
hardship. But occasionally there are circumstances where a few students
find it hard to make ends meet. The “Welcome Pack” sent to those in their
first year gives a general indication of the level of living expenses at
Cambridge. It will be appreciated that meals taken out of College may cost
more or less than those taken in College. Meals charges are the main
elements in a typical College bill that can be controlled by the individual.
The room rent is the only main fixed living cost. It is important to be aware
of the likely size of each term’s College bill and to make sure there are
sufficient funds to meet it when it falls due. The College charges interest on
overdue bills and the effective rate of interest (APR) is deliberately set
above that on ordinary credit cards. No undergraduate should ever get into
a position of having to pay interest. If there is an unpaid bill at the end of
the third year, then unless an arrangement is made with the College, the
College will not allow the person concerned to proceed to graduation until
the bill is settled. If a student should get into financial difficulty, he/she
should consult the Bursar as soon as possible. If his/her Tutor is convinced
that the student is in genuine and unavoidable difficulty then a
recommendation will be made to the College that interest charges be
waived on the unpaid bill. The Tutor will also be able to give advice about
possible sources of additional finance.
9.2.4 Code of Practice for the Collection of Student Debts
This code of practice sets out the procedure that will be followed by the
College Office in presenting accounts for payment by junior members,
explains the responsibilities of junior members to pay their accounts
promptly, and sets out the action that will be followed in cases of overdue
accounts. This code of practice was formally approved by the Governing
Body at their meeting on 25 June 2001 and represents the current
procedure.