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Fee Policy for MBA

Payment of Dues Fee Bills are issued to students before the start of the academic year. Amounts of dues and dates for payment are indicated on the Fee Bill. No reminders will be given for the payment of dues. Students who fail to deposit their dues during the specified time are required to send a written application to the Dean of the Business School through the Programme Coordination Office for approval; otherwise it will be assumed that they have withdrawn from the programme. Except for Payment 1, all payment deadlines may be extended upon approval by the Dean SDSB and as per the below mentioned applicable fines: Number of days
First 15 calendar days after the payment deadline Next 15 calendar days 30 calendar days or more from the payment deadline Rs. 200 per day. Rs. 500 per day. Rs.500 per day and Hold on account, Barring classes/exams and further registration.

Late Payment Fee

Important Note a) Students will be allowed to attend classes, take examinations and receive degrees/ transcripts only if they clear all their dues to the University. b) Course registration will be blocked, if a student fails to deposit his/ her dues within the given deadline Withdrawal Refund Policy In case a student finds it necessary to withdraw from the programme, (s) he must submit a written application addressed to the Head of Department, SDSB Admissions & Financial Aid Office. In case of withdrawal, the following refund policy will apply: Fee (2011 - 2012) Admission & SOP Fee Date of receiving application
Not Applicable Within 15 days after the payment deadline specified in the fee bill

Amount to be refunded
Non-refundable 100% Semester Fee Refund 50% Semester Fee Refund No Refund Non-refundable

First Semester (Payment 1)

From 16-30 days after the payment deadline specified in the fee bill More than 30 days after the payment deadline specified in the fee bill

Payment 2

Not Applicable

Deferment Policy In case a student applies for deferment within the deadline for refund of dues (as mentioned in the table above) then the tuition fee, SOP and registration fee will be transferable according to the applicable deadlines stated, whereas the admission and security fee will be retained as deferment fee. This amount will be adjusted in the next years fee. The student will be required to pay any differential amount in case of a revision in the fee. In those cases, where the student applies for deferment after the deadlines for refund of dues, the admission and security fee will be retained as deferment fee. In case the student deposited fee prior to the commencement of the upcoming term/ semester, will be adjusted in next years fee. Adjustment of due for students deferring in the middle of the term will not be carried forward to the next year. The security fee will be refunded subject to clearance of all University dues. No refunds will be applicable except the security fee in case a student does not join the MBA Programme. Refund of security fee is subject to the final clearance of all outstanding university dues. Separation/ Suspension Refund Policy If a student is separated/suspended from the programme by the University for Academic Reasons and has deposited the dues for the next payment, all such dues deposited will be refunded. If a student is separated/ suspended from the programme because of disciplinary reasons or reasons other than academic, the dues deposited by him/ her for the current payment will not be refunded. However, if for some reason, decision is delayed till the next payment and the student pays the dues for the next payment, such dues will be refunded. Admission Cancellation Nonpayment of applicable dues will result in cancellation of admission. A candidate who has been admitted and has made all payments but remains absent without any prior notification, will forfeit all dues already paid and his/ her admission will stand cancelled automatically without issuing any notice thereof. Financial Aid Awards Merit awards and financial aid offers cannot be deferred. Students must reapply for financial aid when they rejoin the programme. If a recipient of student Financial Aid defers/ withdraws from the institution during an academic term, the amount of grant or loan assistance received will be subject to repayment. Any external funding will not be given for the duration of the repeated semester(s). Financial Aid for students applying for short leave/ deferment through LUMS is not automatic and maybe granted under exceptional circumstances for the repeated semester.

Repayment of Financial Aid LUMS Loans will have to be repaid in monthly installments over a period of three years, up to Rs. 150,000 and over & above Rs. 150,000 within five years. Those who do not repay any installment(s) on time will have to pay the applicable fines. The repayment of loans will begin six months after graduation. This condition is applicable only in case of students who fulfill graduation requirements without any record of disciplinary action. In all other cases, LUMS Loans will have to be repaid immediately on withdrawal/ separation/ disciplinary action. In case of disciplinary action, all future financial aid will be cancelled and all previously disbursed loans will have to be returned by the student to LUMS. In case of disciplinary action, students will not be allowed to graduate unless they return all loans along with accrued penalties for delayed payments, if any. Other details regarding loan repayment may be obtained from the Accounts Office, LUMS. In case the student fails to complete the formalities of loan documentation before the required date, (s)he will be liable to pay the amount due to the University by the due dates. Decision of the University will be final. The University reserves the right to change its policies and fee structure at any time.