Ashesi University College Options for paying tuition fees in installments
The university’s credit policy is designed to facilitate fees payment for parents and students. The highlights of our credit policy are as follows:
- Maximum credit amount: students are allowed a maximum credit amount equivalent to one semesters’ tuition fees. This means that student indebtedness to the university should not exceed his or her tuition fee billing for one semester.
- Credit terms: students are allowed a minimum of 14 days credit and a maximum of 90 days to pay their bills. The university has five payment options available to students:
- Early payment: Students who make prompt payment of tuition fees before the standard payment deadline are entitled to 3.5% cash discount.
- Standard Payment: students who pay their tuition fees in full by the standard payment deadline will have neither a discount nor a surcharge.
- Two Installment Payments: Students who opt to pay their tuition fees by two installments will be allowed a maximum of 60 days credit, and pay a surcharge of 3% per semester on the amount due for the semester.
- Three & Four Installment Payment: Students opting for this payment method will be allowed not more than 90 days to pay their fees in full. This payment options attract a surcharge of 6% per semester on the amount due.
- Penalty for overdue debts/late fee payment: Students who do not meet their payment deadlines will be made to pay a penalty for the late payment of the overdue debt or fees. The following penalties shall apply:
- Twenty Dollars(US$20.00) per week for late fee payment
- Total withdrawal of credit privileges if bills are overdue by 45 days or more
- Withholding of exam results and transcripts, and possible suspension from the university until all financial obligations have been met
- Collection Procedures: As part of the account receivable management process, the finance office will communicate regularly to students on their account status. The following procedure will be followed:
- Friendly reminder after 14 days of overdue payment
- Formal reminder after 30 days of overdue payment
- Demand notice after 45 days of overdue payment.
- Signing onto the installment agreement: students who cannot make full payment on the invoice due date must sign onto the Ashesi Standard Installment Agreement Plan. Students or debtors who do not sign onto either the installment plan or make full payment on the due date shall be automatically rolled onto the installment plan or be made to pay the $20.00 per week as indicated in section 3 above.
- Currencies and exchange rate: the university currently accepts payments in either Ghana Cedis or US Dollars. Prevailing exchange rates are fixed per semester.