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Policy & Procedure
Policy Title :
STUDENT ACCOUNT – INCOME RECEIVABLES Policy
Policy Number :
IV.A-17
Responsible Party :
Financial Affairs
Effective Date :
28/11/2013
Revised Date :
_______________________

Purpose

Ensure that student tuition fees are properly billed and paid based on the approved terms & conditions.

Statement :

We have different types of fees charged to the student listed below:

Description Fee (SAR)
Tuition (12 and above billing hours) 22,500
Admission 500
Educational Fees and Software Aids 2,500
Books 2,500
Locker and Insurance 250
Bus (for female students only) 2,000
EMBA Tuition (2 semesters) 78,750
EMBA Admission 660
Social Welfare Program (per semester) 12,000
Pre Master Program 12,000
Pre Master Admission Fee 660
Procedure :

There are four types of students at the University: (1) regular students, (2) students under scholarship or sponsorships; (3) Social Welfare and (4) EMBA students.

  1. Regular Students

    • Students who enrolled 12 billing hours and above should be charge a fixed amount of SR 22,500.00
    • Student who enrolled below 12 billing hours should be charged per hour. The cost per billing hour is SR 1,875.00.
    • A regular student should be charged a total of SR 5,000.00 for the Educational Fees/Software Aids and Books fees (SR 2,500.00 each). The cost of the books claimed by the student from the bookstore should be summarized before the end of the semester and the difference between the actual cost of books and the SR 2,500.00 allotted for the books should be charged or deducted from their account.
    • Admission fee amounting to SR500.00 should be charged and paid by new students before taking the placement test or the entrance exam.
    • Tuition fees payments can be paid in  full amount  or on an installment basis and can be made via the following:
      • Cash payment - accepted only for registration fee or admission fee, locker fees and bus fees.
      • Checks – certified or regular checks.
      • Mastercard, Visa Card and ATM card through the PMU span machine.
      • Direct deposits or transfer to PMU Samba Account # 0170008576 – proof of payments, transfer form or deposit slip should be presented to the cashier of issuance of Receipt Voucher.
    • A penalty of SR 200.00 will be charged to the student for every returned check.
    • Posting of payments on the system should be made on a daily basis based on the Receipt Voucher issued by the cashier to keep the records updated.
    • All students who are paying their tuition fees in installments will be charged SR 500.00 for every late payment.
    • Reversal of the late payment charges can be made only if duly approved by the Director of Financial Affairs.
  2. Students under Scholarship and Sponsorship Program

    • PMU grants scholarship to students with good scholastic records and to those who cannot afford to pay their tuition fees. Listed below are the types of scholars:
      • Top ten students  ( Academic Scholars)
      • Scholars under PMU program
      • Scholars under sponsorships of private companies and government institutions (HR scholar and Scholar of Ministry of Higher Education (MOHE).
    • Students who want to apply for the scholarship should complete the application form available at the Office of Financial Aid.
    • The Scholarship Committee should assess the student application and will determine if the students are qualified and fulfill the requirements. The Scholarship Committee will recommend and forward the documents of students who passed based on their assessment to the Office of the PMU Rector for final approval.
    • Approved Scholarship application should be forwarded to Budget and Accounting for recording.
  3. Scholarship coverage:

    • Top ten students (Academic Scholars) - Tuition fee of SR 22,500.00 as PMU Exemption.
    • Scholars under PMU Program - Tuition fee of SR 20,000.00 charge to sponsor and SR 2,500.00 as PMU exemption.
    • Scholars under sponsorships of private companies - Under Dr. Munira Abba Hussain tuition fee amounting to SR 20,000.00 was paid and the remaining SR 2,500.00 and the SR 5,000.00 for books and Educational fees/Software Aids as PMU exemption. Under Rawabi Company, tuition fees amounting to SR 22,500.00 was paid.
    • Government Institutions (HR) – Tuition fee amounting to SR 22,500.00 will be paid by the HR and SR 2,500.00 as PMU exemption.
    • Ministry of Higher Education (MOHE) – Maximum amount of SR 40,000.00 is paid for Engineering students and SR 20,000.00 for other courses.
  4. EMBA Students

    • Admission fee amounting to SR 660.00 should be charged for every new EMBA students.
    • Tuition fee amounting to SR 39,375.00 every semester should be charged to each student.
    • Payment of tuition fees can be made in full amount or installment plan.
    • Student who wants to take a leave of absence, withdrawal from the current course and complete withdrawal from the university should complete the corresponding form. The students can release only the documents or any papers from the university upon settlement of his/her account. The authorized signatories from the Accounting Department will sign the form to signify that the student’s account has been settled.
    • Students who want to completely withdraw from the university and with over payment on their account. The following options can be applied:
      • Refund – Complete the tuition fee refund form and with authorized signatories and verified by the Accountant. The form should be forwarded to the person in-charge for the preparation of checks or transfer to process the refund.
      • Transfer to other Students - overpayment can be transferred to other student account as long as the student with overpayment have request to transfer and it was verified by the Accountant and approved by the Director for Financial Affairs.

The Receivable’s Accountant is responsible for reconciling the receivable balance based on Banner and on the existing accounting system. Also, they are responsible for reviewing and ensuring the correctness of the accrued income per student account.