The LSE student Fees policy 2014/15 is divided into thirteen key sections, please click on the appropriate section for further information.
Section 1: Tuition Fees
1.1 Fees are charged for all students at the London School of Economics ("the LSE") There are no exceptions. Every student must have sufficient funds before starting their course and declare it on the Financial Undertaking Form (FUF) before registration.
1.2 Fees are charged in £UK (Sterling). The LSE will not give the fee in any other currency.
1.3 Fee levels for 2014-2015 are displayed on the LSE website, the figures quoted are for one year of study(2014/15 session) at LSE only. If your programme includes a period of study at another institution the fees for that time will be set by the institution in question and payable there. Likewise, if your programme covers more than one year at LSE, the new fee levels for your second and succeeding years will be payable in due course.
1.4 The LSE reserves the right to alter the level of fees. Changes in fee levels may occur over the course of the year.
1.5 Please note that fees are paid in each year (academic session) for which you are registered and normally rise in each year. They do not stay the same as in the year you started.
1.6 Who pays the fees: Students who are self-financed are deemed to be paying the fees from personal finance, family members or through a loan. If your fees are being paid by a third party ie: Sponsor, a bill or invoice will be sent direct to a government, charity or company. Your fees may be paid via an award, if less than your total fees, you are expected to pay the balance. Any outstanding balance not covered by a sponsor or an award must be paid by the student.
1.7 A sponsor cannot be anyone who gives their money to the student directly, such as a loan company. If you are a UK/EU student and take out a loan with the Student Loans Company your loan will be paid direct to the School. If funding comes from family or a loan, then the student is termed 'self financed'.
1.8 It is the responsibility of the student to make sure fees are paid on time.
1.9 Funding may be in the form of a loan, a sponsor (Government, charity, company) or an award. Parents are not deemed as sponsors. Sponsors have several meanings: A government, a government department, a charity. This is not an exhaustive list and you should refer to the LSE website for further information.
1.10 The sponsor contribution or LSE award may not be used to pay the first part of the year.
1.11 In November following the registration period, invoices (bills) are sent to all sponsors for all the students they sponsor. The fees for the whole year have to be paid in full within 30 days of the invoice date, no discount is offered to sponsors.
1.12 The Fees Office do not automatically send fee invoices, students are advised of their tuition cost in their offer letter. You can also access tuition cost from the table of fees and from LSE for You. If you require a fee invoice please send your request via the Document request webpage.
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Section 2: Early Payment Reward
2.1 The LSE offers an early payment reward scheme, this scheme is for self financed students only sponsors are ineligible. Full details can be found on the Fees and Student Finance website.
2.2 The Early Payment Reward cannot be used to reduce your tuition fees.
2.3 There are no cash alternatives
2.4 There are no cash refunds offered on account credits
2.5 EPR awarded for the session 2014/15 must be spent by 31st July 2015
2.6 You must be registered with the LSE in order to receive the reward
2.7 If you receive a reward and are not expecting it or believe it to be incorrect please email the Fees Office immediately. If you accept money to which you are not entitled you will be expected to repay this.
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3.1 The LSE also offers an Alumnus discount, the Alumnus discount is 10% for any student who studied and completed their Bachelor degree at LSE and is now coming back to study for any MSc course. This discount applies to full or part time study. Please check your fee on the Table of Fees and deduct 10%, this is the amount you have to pay.
3.2 The Alumnus discount can be used in conjunction with the early payment reward. Any Alumnus discount should be deducted before calculating your fee to pay the School.
3.3 The following programmes are excluded from the Alumnus scheme:
Intercollegiate students registered at another University
One year General Course students
Graduates of LSE external programme
Undergraduate students who did not complete their full three year undergraduate programme
3.4 Final decision on eligibility rests with the LSE
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Section 4: Loans- Home/UK
4.1 All Home/EU undergraduate students may apply for a tuition fee loan, up to £9000.00 maximum for 14/15 entrants.The Fee Loan is paid directly to the School. Application is made through Student Finance Direct not the LSE.
4.2 Home/EU Students: UK and EU students are referred to as having 'Home' status. Home status is not based only on nationality but also on 'settled' place of residence in the UK or EU. That is, you must have your home in the UK or EU for at least three years prior to starting your course.
4.3 If a student opts to apply for a tuition fee loan or grant, and if, for any reason, the application is rejected, the student is then liable for the whole of their tuition fee contribution and must make arrangements to pay the fees directly to the LSE.
4.4 Students who take out a tuition fee loan may be asked to provide a Financial Notification to the Fees Office.
4.5 Students who take out a tuition fee loan with the Student Loan Company ("SLC") are able to decrease the amount they borrow, please contact the SLC for further information. (Please note there are restrictions).
4.6 Students who take out a tuition fee loan are able to increase the amount they borrow at any point during the academic year, up to the maximum tuition fee loan entitlement, providing there is a fee to the institution to be paid.
4.7 All loans have to be repaid, interest is charged on all loans, there are no exceptions. Please contact the SLC for further information.
4.8 Home UK Graduate students may qualify for a Professional and Career Development Loan (Previously called Career Development loans) which is a fixed amount and is offered by two banks only under the UK Governments 'Learning Direct' plans. A PCDL is a loan and must be repaid, but repayment does not start until the whole course is finished. The LSE code for PCDL is 2044.
4.9 Students in receipt of PCDL must provide a stage funding document confirming the loan payments dates to the School.
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Section 5: Loans - US
5.1 LSE administers Federal Stafford Loans, Graduate Plus Loans, Parent Plus Loans and Signature (Private) Loans
5.2 The annual values for Stafford Loans are $20,500.00 (unsub) for postgraduates; and for undergraduates $3,500 yr 1; $4,500 yr 2, $5,500 yr 3
5.3 Plus Loans are used as a means to cover the difference between the Stafford loans and the cost of attendance (hereinafter referred to as COA). Credit references are valid for 180 days, so do not apply for Plus loans before 1st May.
5.4 Private loans may also be taken out either on top of, or instead of, Plus Loans or Stafford Loans, subject to normal credit checking, and only to the value of the cost of attendance. The decision on which loan you take out is ultimately yours, please read all of the available information about Plus and Private Loans before deciding which best suits you.
5.5 You must follow the process flowchart found on the Fees website if you wish to apply for a loan. The flowchart will tell you how much you can borrow and the evidences required
5.6 Federal regulations state that students cannot have their loans before registration or outside of the loan period ( 1st October 2014 -30th September 2015). Regulations only allow for students to have 1/3 of their Loan each term.
5.7 You are required to use your loan for educational purposes, fees first, as such tuition fees will be deducted from your loan (If not already paid) prior to the disbursement of your cheque. If you are staying in an LSE residence your accommodation fees will also be deducted from you loan prior to disbursement
5.8 All cheques are in £ Sterling,
5.9 You are required to use your loan for educational purposes, fees first. All loans have to be repaid. You can't choose not to repay if you do not like the course or if you fail. They are not discharged by bankruptcy.
5.10 Interest is charged on all loans, there may be penalties for defaulting.
5.11 If you withdraw from your course or take a break you must contact the LSE Fees Office immediately, the LSE will then inform the USDE. Any ‘unspent’ part of your loan has to be immediately repaid by you. The unspent part of your loan has nothing to do with how much money you have left. The portion of the year left is the unearned portion of your loan.
5.12 The LSE School code for US Loans is G06693.
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Section 6: Loans - Canadian
6.1 Canadian students have the ability to borrow government loans via their province. The LSE code for all provinces in PUEQ, with the exception of Quebec which is H8522A.
6.2 Canadian tax forms can be downloaded from the LSE website-Leaflets page. Forms must be signed by a member of the Fees Office.
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Section 7: Payment
7.1 Before registration all students have to complete a Financial Undertaking Form ('FUF') to state that they have enough funding for their course. In signing the FUF you are confirming that you have the funds available to meet all school fees for which you are liable for the whole period of the programme at the LSE and for your living costs.
7.2 In signing/submitting the FUF you understand that non-payment of fees will necessitate withdrawal from the school and that you will be liable to pay any outstanding debt (Including any awards unpaid by third parties
7.3 Student may pay their fees in full or in instalments(max 3). The first payment must be no later than 28th October and the last payment no later than 28th April 2015.
7.4 You can make extra payments for any value at any time before April.
7.5 Fees may be paid by credit/debit card via the LSE website, cheques or bank transfers. You can view your account once registered via LSE for You.
7.6 All cheques should be drawn in (£) pounds sterling and made payable to London School of Economics.
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Section 8: Penalties for late/non payment
8.1 The LSE is sympathetic to students who have genuine problems. If a student is getting into difficulties they should contact the Fees Office as soon as possible.
8.2 If fees are not paid on time, and a student has not contacted the Fees Office to discuss their case, then sanctions are imposed.
8.3 Sanctions may be any combination of the following and in any order :
Withdrawal of library rights
De-registration you cease to be a student which may also affect your visa
Block exam results
Referral to Credit Agency- which may affect your credit rating
You will not be allowed to re-register
Withhold degree certificate
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Section 9: Payment default penalties
9.1 Cheques that are returned unpaid for any reason will incur a £10.00 administrative charge.
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Section 10: Refunds
10.1 Refunds are processed on a weekly basis (7 working days) Refunds are drawn in (£) Sterling, amounts over ten thousand pounds can take up to 10-14 working days to process
10.2 LSE is not able to refund any shortfalls due to exchange rate fluctuations, or offer compensation for any bank or other charges incurred
10.3 LSE refund policy is that all credit / debit card refunds are issued back to the original credit / debit card (source) used when payments were made.
10.4 Refunds for domestic and international bank transfers (including Travelex wire payments) are made via our domestic BACS or international payment mechanism. They will be made to the bank account used (Where possible)when payments were made and your local bank will make any exchange necessary from GBP. LSE is not liable for any variance due to foreign exchange rate fluctuations
10.5 All other refunds are made by cheques or international drafts, payable to you, the student or sponsor where applicable and mailed to the current mailing address on our record. You must notify the school of any change of address either via online or in writing by submitting the change of address form to ensure correct delivery of refund cheques
10.6 If a student withdraws from the course, the fee is reduced to cover only the weeks they were registered. If a student has paid more than their fees, the overpayment is paid back by a sterling cheque.
10.7 If a student has paid in advance and does not start, their money is refunded in full.
10.8 Refunding pre registration deposits: The cooling off period lasts for 7 working days from the date the School receives the payment.
10.9 Where a refund is due the School will return to source: Payments received by credit or debit Card will be refunded to the card where the payment came from. Payments received by cheque or bankers draft will be returned by cheque. Payments received by bank transfer: If refunding less than the 'full' amount paid payment will be returned by cheque. If refunding the bank payment in full then payment will be returned to original account the money was transferred from.
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Section 11: Document requests
11.1 If you pay by card online a receipt is sent automatically by the card company. If you pay in advance between May and 15th September, a receipt is sent by email to the contact address held by admissions, this process usually occurs five days after receipt at LSE. Payments for registered students are not sent as they can be seen on LSE for YOU.
11.2 Documents submitted to the Fees Office for completion should be tracked via the iTracker online service.
11.3 If you require a copy receipt, send an email to the Fees Office. Write ‘Copy Receipt’ and your applicant/student number, a receipt will be sent back to you by email. This usually takes 3-5 working days..
11.4 We do not send certificates or receipts by courier
11.5 If you need a certificate for currency purposes, please email the Fees Office, write "Fee Certificate" and your applicant/student number, a certificate will be sent back to you by email. This usually takes 3-5 working days. Alternatively we will post it directly to your address.
11.6 Tax certificates for American and Canadian :please email your request to the fees office. The certificate will be available for collection within 3-5 working days.
11.7 Tax certificates for 'other nations' - students are required to apply for the certificate during our drop in session, alternatively you can email your request to the Fees Office. The certificate will be available for collection within 3-5 working days.
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Section 12: Contacting the Fees Office
Phone: +44 (0)20 7955 7765 (10.00-17.00) * Fax: +44 (0)20 7955 7427
All written correspondence should be addressed to: The Fees Office Room AH300.London School of Economics, Houghton WC2A 2AE
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Section 13: Drop-in service and booked appointments
13.1 The Fees office operates a drop in session 2-3pm weekdays during term time, Monday, Wednesday and Friday only during vacation. The Head of Fees and Credit Control is pleased to accept booked appointments requiring their expertise or authority. Please telephone the Fees Office to book an appointment.
Please do not book an appointment for routine transactions as this could block other students getting help.
13.2 Please always quote your LSE ID number when booking an appointment
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