20Expenses, Payment Procedures andCancellation Policies2012-2014 WHARTON MBA WEST STUDENTBUDGETTuition and expenses are indicated below. Costs may varydepending on individual travel circumstances. <strong>The</strong> costsinclude tuition, fees, books, supplies, and room and boardon class weekends. <strong>The</strong>y also include <strong>the</strong> ground expenses(hotel and food) for <strong>the</strong> Philadelphia trip (during Term 2)and <strong>the</strong> international trip (during Term 5) that each classtakes. Airfare for <strong>the</strong>se trips is not included in this total.<strong>The</strong> educational budget for <strong>the</strong> program from May 2012 -April 2014 is:Tuition, Fees, Books, Supplies, Room & Board2-year budget: $175,698Per year: $ 87,849Per term: $ 29,283One-year Educational BudgetTuition: $ 39,942Fees including:Room and board, books andmaterials and o<strong>the</strong>r program costs $ 47,907Total: $ 87,849*<strong>The</strong> educational budget for Year Two will be determined inApril 2013. <strong>The</strong> two-year budget will remain <strong>the</strong> same, but<strong>the</strong> tuition and fees breakdown will be altered in Year Two.BILLING CYCLES FOR PAYMENTS ANDFINANCIAL AID:Academic Year 2012-2013 Payment Due*Term 1 = Summer Session I 2012 May 20, 2012Term 2 = Fall 2012 September 6, 2012Term 3 = Spring 2013 January 4, 2013Late Payment PenaltiesIf full payment is not received by <strong>the</strong> due date, alate payment penalty <strong>of</strong> 1.5% <strong>of</strong> <strong>the</strong> amount past duewill be assessed, and future registration and continuingenrollment will be jeopardized.Please Remember• If paying online, make payment at least three daysprior to <strong>the</strong> bill due date• If paying by mail, make payment at least 5 days priorto <strong>the</strong> bill due date.• Make your check payable to: “Trustees <strong>of</strong> <strong>the</strong>University <strong>of</strong> Pennsylvania”• Do not send cashElectronically, Using Penn.PayPenn.Pay is an electronic billing service that enablesyou to pay electronically, go to www.sfs.upenn.edu/pennpay.- Penn.Pay from your checking or savings account- Penn.Pay using <strong>the</strong> AmericanExpress CardNote <strong>the</strong>re is a 2% convenience fee with this option.Important - If you elect to pay your tuitionelectronically, please let Amy Weinstein know when <strong>the</strong>payment has been sent.In Person/By MailChecks can be given directly to Amy Weinstein.Checks should be made payable to <strong>the</strong> Trustees <strong>of</strong> <strong>the</strong>University <strong>of</strong> Pennsylvania and should indicate <strong>the</strong> name<strong>of</strong> <strong>the</strong> student.<strong>The</strong> <strong>Wharton</strong> <strong>School</strong>Attn: Amy Weinstein2 Harrison St., 6th floorSan Francisco, CA 94105Academic Year 2013-2014 Payment Due*Term 4 = Summer Session I 2013 April 26, 2013Term 5 = Fall 2013 August 30, 2013Term 6 = Spring 2014 January 10, 2014* Late fees will be assessed to your student account if payment isnot received by <strong>the</strong> payment due date and if a loan application issubmitted after <strong>the</strong> deadline.Payment Procedures<strong>The</strong> University must receive <strong>the</strong> FULL amount dueon or before <strong>the</strong> due date indicated on <strong>the</strong> bill.
21Payment Procedures ContinuedBy Wire TransferPlease provide <strong>the</strong> following wire instructions to <strong>the</strong>individual processing <strong>the</strong> wire transfer to ensure promptcrediting <strong>of</strong> funds:Wells Fargo Bank N.A.420 Montgomery St., San Francisco, CA 94101For Domestic Wires and ACH’s:ABA Routing #: 121-000-248For International Wires OnlySWIFT CODE: WFBUIS65CHIPS: 0407Account Name: <strong>The</strong> Trustees <strong>of</strong> <strong>the</strong> University <strong>of</strong>PennsylvaniaAccount# 2000018692644Reference: 4 digit ORG number and/or dept. phonenumberImportant: Instruct <strong>the</strong> sender to indicate:• Name <strong>of</strong> student• <strong>School</strong> contact, Amy Weinstein,MBAExec Program - WestIf we cannot apply <strong>the</strong> credit to <strong>the</strong> appropriate student,<strong>the</strong> funds will be deposited into a University suspenseaccount until you contact Cash & Liability Management(215.898.7256) with <strong>the</strong> required information. For moreinformation, visit www.finance.upenn.edu/treasurer/cashman.Confirmation <strong>of</strong> Incoming WiresOnce <strong>the</strong> funds are received and identified, our <strong>of</strong>ficewill contact you by telephone or email. You will need toprovide an internal 26-digit account number so that our<strong>of</strong>fice can record <strong>the</strong> entry in <strong>the</strong> G/L. If you are expectingan incoming wire, please email cash@upenn.edu with <strong>the</strong>amount <strong>of</strong> <strong>the</strong> wire, <strong>the</strong> sender, <strong>the</strong> expected date and a26-digit account number. Our <strong>of</strong>fice will respond via emailwhen <strong>the</strong> amount has been journaled into your account.Cancellation and refundsYou may cancel your contract to attend <strong>the</strong> <strong>Wharton</strong><strong>School</strong> MBA For Executives, without any penalty orobligations, up to <strong>the</strong> first class session.If you cancel, any payment you have made and anynegotiable instrument signed by you less <strong>the</strong> nonrefundableenrollment deposit shall be returned to you within 30 daysfollowing <strong>the</strong> school’s receipt <strong>of</strong> your cancellation notice.After <strong>the</strong> end <strong>of</strong> <strong>the</strong> cancellation period, you also have<strong>the</strong> right to withdraw at any time, and you have <strong>the</strong> rightto receive a refund for <strong>the</strong> part <strong>of</strong> <strong>the</strong> course not taken.Upon cancellation, if <strong>the</strong> school gave you anymaterials, you must return <strong>the</strong> materials within 30 days <strong>of</strong><strong>the</strong> date you signed a cancellation notice, if requested. Ifyou do not return <strong>the</strong> materials within this 30-day period,<strong>the</strong> school may keep an amount out <strong>of</strong> what you paid thatequals <strong>the</strong> cost <strong>of</strong> <strong>the</strong> materials. <strong>The</strong> total amount chargedfor each item <strong>of</strong> materials shall be separately stated. <strong>The</strong>amount charged for each item <strong>of</strong> materials shall not exceed<strong>the</strong> materials’ fair market value. <strong>The</strong> institution shall have<strong>the</strong> burden <strong>of</strong> pro<strong>of</strong> to establish <strong>the</strong> materials’ fair marketvalue. <strong>The</strong> school is required to refund any amount overthat as provided above, and you may keep <strong>the</strong> materials.To cancel <strong>the</strong> contract for school, mail, fax or delivera signed and dated copy <strong>of</strong> this cancellation notice or anyo<strong>the</strong>r written notice to:Ka<strong>the</strong>rine Lilygren<strong>Wharton</strong> MBA Program for Executives, West2 Harrison St., 6th floorSan Francisco, CA 94105ph: 415-267-6311fax: 415-369-0598Remember, you must cancel in writing. You do nothave <strong>the</strong> right to cancel by telephoning <strong>the</strong> school or bynot coming to class.FeesSome banks will deduct a fee from <strong>the</strong> funds beingwired, <strong>the</strong>refore, <strong>the</strong> actual funds received may be less than<strong>the</strong> full expected amount. It is important that you have <strong>the</strong>remitter (sender) check with <strong>the</strong>ir bank on <strong>the</strong>ir proceduresand fee structure. <strong>The</strong> remitter should include <strong>the</strong> amount<strong>of</strong> <strong>the</strong> wire fee in <strong>the</strong> amount being wired. For yourinformation, Wachovia Bank charges <strong>the</strong> University a feefor all incoming wires, however, this fee is not charged backto your department.Important: If you elect to pay your tuition via wiretransfer, please let Amy Weinstein know when you havesent <strong>the</strong> payment.