Student Financial Services Payment and Financial Aid Policies

Student Financial Services

Payment and Financial Aid Policies

Last Updated on 08.06.2015

Student Financial Services 2015-06-08 page 1 of 1

TABLE OF CONTENTS

1. INTRODUCTION ...... 3

2. STUDENT ACCOUNT PAYMENT POLICIES ...... 3

2.1 Undergraduate Student Charges ...... 3 2.2 Undergraduate Financial Aid Packages ...... 4 2.3 Graduate Student Charges ...... 5 2.4 Withdrawal Policy - Undergraduate Students ...... 6 2.5 Refund Policy – Undergraduate Students ...... 6 2.6 Withdrawal and Refund Policy for Non-degree Students ...... 6 2.7 Graduating from Jacobs University ...... 7

3. UNDERGRADUATE FINANCIAL AID POLICIES ...... 8

3.1 Applicants for Undergraduate Admission/Financial Aid ...... 8 3.2 Continuing Undergraduate Students ...... 8 3.3 Exchange, Leave of Absence and Visiting Students ...... 8 3.4 7th Semester ...... 8 3.5 External Scholarships ...... 9

4. UNDERGRADUATE TUITION POSTPONEMENT PAYMENT POLICIES ...... 9

4.1 Interest Rate ...... 9 4.2 Duration of your Tuition Postponement ...... 9 4.3 Repayment ...... 10 4.4 Defaulting on your Tuition Postponement ...... 10

5. QUESTIONS AND/OR CONCERNS ...... 11

6. JACOBS UNIVERSITY BANKING INFORMATION ...... 11

7. STUDENT ACCOUNT STATEMENT ...... 12

8. CLARIFICATION OF STUDENT ACCOUNT STATEMENT ...... 13

9. COST OF ATTENDANCE - UNDERGRADUATE STUDENTS ...... 14

10. COST OF ATTENDANCE - GRADUATE STUDENTS ...... 15

11. DUE DATES AND DEADLINES ...... 16

Student Financial Services 2015-06-08 page 2 of 2

1. INTRODUCTION

In accordance with the resolution of the university’s Academic Council from 09.08.06, the following regulations apply to all Jacobs University Bremen gGmbH students. These regulations relate to all Financial Aid and Student Accounting transactions, before, while and after matriculation at Jacobs University Bremen gGmbH. Deviations from these regulations must be approved by the President or by a Vice President.

2. STUDENT ACCOUNT PAYMENT POLICIES

All incoming and continuing undergraduate and graduate students will receive a bill and/or a student account statement via e-mail before the beginning of each semester and on a monthly basis throughout the academic year. This statement will itemize all of your charges and, if applicable, your financial aid package. You will find an example of a student account statement on Page 12 and an explanation on Page 13.

You must settle your balance due before you register for a new semester. If you are unable to do so, you must contact Student Financial Services to develop a suitable payment plan. Students who do not meet their financial responsibilities in a timely manner will not be allowed to register for classes, will find their CampusNet access blocked and will be asked to leave the university.

2.1 Undergraduate Student Charges All charges are subject to change upon notification.

 Tuition – The total cost of tuition for one academic year at Jacobs University is € 20.000. Half of the tuition will be charged to your student account and is due at the beginning of each semester you attend the university.

 Room + Board – The total cost of room and board for the nine-month academic year is € 4.500. Half of this cost or 2.250 € is charged to your student account each semester and covers room and board for 4 ½ months (fall: September 1st to January 15th, spring: January 16th to May 31st) If you are returning to the university after the fall semester, you may move into your room on January 16th at the earliest. If you are leaving the university after the fall semester then you must check out of your room on January 15th at the latest. If you arrive earlier or leave later than these dates, you will be charged an additional 250 € rent for the respective half of the month.

 Semester Ticket – All students must purchase a semester ticket each semester they attend Jacobs University. This ticket enables you to travel free of charge throughout Bremen and the surrounding area. For the academic year 2014-2015, you will be charged € 155,76 at the beginning of each semester for the Semester Ticket.

 University Fee – All undergraduate students are required to pay a € 60 university fee each semester they attend Jacobs University. The fee includes such amenities as the cost of the graduation ceremony and celebration, student activities, student government fee and diverse insurances that protect you while you are studying at Jacobs University.

 Broadcasting Fee – All undergraduate students living on campus are required by German law to pay a broadcasting fee of 5,99 € per month or 53,91 € per academic year for television and radio broadcasts. This is German law and the only exceptions that can be made are for German nationals who are receiving BAföG (German student support program).

 Summer Room + Board – If you remain on campus during the summer months, you will be charged € 1.500 for the months of June, July and August. Payment is due by June 15th.

 Enrollment Deposit – Every admitted student wishing to attend Jacobs University must pay an enrollment deposit of € 500 before the deadline given in your admission letter. This enrollment deposit secures your place at Jacobs University and is not refundable if you reverse your enrollment decision. If you do enroll, the deposit will be kept on a separate account until you check out after graduation or after leaving Jacobs University permanently. The deposit will be used to cover any outstanding balances on your accounts only after leaving the university permanently. Any remaining overpayments will be credited to your tuition postponement, if applicable. If there are no open balances or tuition postponements, then the enrollment deposit will be reimbursed. In this case, you are required to inform us of your bank account information.

Student Financial Services 2015-06-08 page 3 of 3

 Claims for Travel Expenses – If you go on a business or research trip for Jacobs University and you receive a cash travel advance, the amount you received will be charged to an additional, separate account. You must then submit your travel expenditure claim, including all receipts. Once the claim has been approved, the actual amount spent will be credited to this account and will offset the charge. Any amount of the travel advance that has not been spent remains a charge on the account and must be repaid.

 Moving Off Campus / Going off the Meal Plan – A financial aid package will be adjusted in the rare case that an undergraduate student is granted permission to move off campus or go off the meal plan. This adjustment will be made proportionately and in most cases will reduce any grant you may have. Each case is decided on an individual basis.

 Payments – All payments received will be credited to your student account unless you specifically state to which account the funds should be credited, i.e. tuition postponement account. Payment deadlines are always January 7th and August 1st and it is your responsibility to transfer your funds early enough to ensure that your payment is on our account by these deadlines.

 Overpayments – Any overpayment on continuing student’s accounts will remain on the account to cover future charges. If you have left or are leaving Jacobs University permanently and have an overpayment on your student account, the overpayment will be transferred to your tuition postponement account, if applicable. If you do not have a tuition postponement account, you will be contacted. You may then either request a refund or donate the overpayment to the Student Emergency Fund. If the overpayment is refunded, you are responsible for all bank transfer fees. If you donate the overpayment to the Student Emergency Fund, you may receive a receipt for any donation over € 50. This receipt may be used for tax exemption purposes. If a student does not respond within 14 days after being contacted, the overpayment will automatically be donated to the Student Emergency Fund.

 Non-payment – Any student who has not paid their semester fees or contacted the Office of Student Financial Services by the deadline will be denied access to CampusNet and registration. The student will be required to either make full payment or to contact the Office of Student Financial Services us to set up a payment plan. If no payment is received or the payment plan is not adhered to, all outstanding amounts are due immediately. Failure to pay by the given deadline will then result in suspension from the university.

Jacobs University reserves the right to refuse to furnish grades, transcripts, diplomas or recommendations for students who do not pay their student account balances. Students will also be denied the right to register for classes. Jacobs University will authorize a commercial collection agency to assist in the collection of student accounts that are not paid.

2.2 Undergraduate Financial Aid Packages

 Scholarships and Grants – Half of your yearly scholarship and/or grant will be credited to your account at the beginning of each semester.

 Tuition Postponement – Half of your yearly tuition postponement will be credited to your student account and charged to your tuition postponement account at the beginning of each semester. Your tuition postponement begins accruing interest on a monthly basis at a rate of 7,75% p.a. as soon as it is charged to your tuition postponement account. You are not required to make repayments to this account while studying at Jacobs University. You may, however, make payments of any amount to your tuition postponement account during this time without any penalties. New students receiving a tuition postponement are required to attend an entrance interview with a Student Financial Services Officer.

 Accepting Financial Aid – You must sign and return your Financial Aid Letter and/or your Tuition Postponement Agreement no later than the deadline given on the documents. Failure to do so by the deadline will result in the loss of any financial aid you would have received and you will be liable for the full cost of attending Jacobs University for that semester.

Student Financial Services 2015-06-08 page 4 of 4

2.3 Graduate Student Charges All charges are subject to change upon notification.

 Tuition - The total cost of tuition for one academic year at Jacobs University is € 20.000. Half of the tuition will be charged to your student account and is due at the beginning of each semester you attend the university. You may have received a waiver for this tuition and/or a tuition postponement.

 Room + Board – If you are living on campus, you will be charged € 600 per month for room + board. Room + board may be paid on a monthly basis and is due on the 1st day of each month in advance for the upcoming month.

 Semester Ticket – All students must purchase a semester ticket each semester they attend Jacobs University. This ticket enables you to travel free of charge throughout Bremen and the surrounding area. For the academic year 2013-2014, you will be charged € 155,76 at the beginning of each semester for the semester ticket.

 University Fee – Graduate students at Jacobs University are required to pay a university fee of € 60 for Master students and € 50 for PhD students per semester. The fee is due before the beginning of the semester and covers services such as the government fee, liability insurance, graduation fees, clubs and sports activities etc. For more information regarding the fee, please contact the GSA.

 Broadcasting Fee – All graduate students living on campus are required by German law to pay a broadcasting fee of 5,99 € per month or 53,91 € per academic year for television and radio broadcasts. This is German law and the only exceptions that can be made are for German nationals who are receiving BAföG (German student support program).

 Enrollment Deposit – Every admitted student wishing to attend Jacobs University must pay an enrollment deposit of € 500 before the deadline given in your admission letter. This enrollment deposit secures your place at Jacobs University and is not refundable if you reverse your enrollment decision. In case you do enroll, the deposit will be used to cover any outstanding balances on your student account. If there are no open balances, then the enrollment deposit will be reimbursed upon leaving the university permanently. In this case, you are required to inform us of your bank account information.

 Overpayments – Any overpayment on continuing student’s accounts will remain on the account to cover future charges. If you have left or are leaving Jacobs University permanently and have an overpayment on your student account, you will be contacted. You may then either request a refund or donate the overpayment to the Student Emergency Fund. If the overpayment is refunded, you are responsible for all bank transfer fees. If you donate the overpayment to the Student Emergency Fund, you may receive a receipt for any donation over € 50. This receipt may be used for tax exemption purposes. If a student does not respond within 14 days after being contacted, the overpayment will automatically be donated to the Student Emergency Fund.

 Non-payment - Any student who has not paid their semester fees or contacted the Office of Student Financial Services by the deadline will be denied access to CampusNet and registration. The student will be required to either make full payment or to contact the Office of Student Financial Services us to set up a payment plan. If no payment is received or the payment plan is not adhered to, all outstanding amounts are due immediately. Failure to pay by the given deadline will then result in suspension from the university.

Student Financial Services 2015-06-08 page 5 of 5

2.4 Withdrawal Policy - Undergraduate Students

 Students who withdraw from Jacobs University for any reason must attend an exit interview with Student Financial Services in order to settle their student account and to discuss their tuition postponement account if applicable, whether they leave voluntarily or not.

 Students who withdraw without meeting their financial obligations to Jacobs University will have their transcripts withheld and risk legal action. In this case, all open balances on your student account and tuition postponement account are due and payable immediately.

 Students not returning to Jacobs University for a subsequent semester must inform the registrar’s office at the latest by November 1st for the spring semester and June 1st for the fall semester. If they fail to do so, they will be charged full tuition for the following semester.

2.5 Refund Policy – Undergraduate Students

 Students leaving Jacobs University during the fall semester will not be charged for the spring semester.

 Students leaving Jacobs University within the first four weeks after registering for a given semester will receive a 50% refund on tuition only for the respective semester. No refund of tuition will be given after these four weeks.

 Room and board charges are not refundable.

 Semester ticket and university fee charges are not refundable.

2.6 Withdrawal and Refund Policy for Non-degree Students

Students who withdraw either willingly or due to ex-matriculation from Jacobs University’s Foundation Year, Visiting Program, Exchange Program or Winter School must inform the corresponding program coordinator. The date on which Jacobs University determines that the student is withdrawn, will be the official date of withdrawal. Students who withdraw from the above mentioned programs due to exceptional and unforeseen circumstances are eligible to apply for special refund conditions during the admission and enrollment process. Such applications should be filed as soon as possible with the corresponding program coordinator. Jacobs University reserves the right to determine the exact conditions of refund.

Students who withdraw without meeting their financial obligations to Jacobs University will risk legal action.

 Foundation Year Students

Students who leave the Foundation Year up to 3 weeks prior to the start of the Orientation Week are eligible for a 100 % tuition refund.

Students who leave the Foundation Year after this point and up to the four weeks after the start of the Orientation Week are eligible for a 50% tuition refund. The following charges are not refundable: room and board, semester ticket, university fee. These students will not be charged for the Spring Semester.

Students leaving the Foundation Year after these four weeks are not eligible for any refund for the respective semester in which they leave.

Student Financial Services 2015-06-08 page 6 of 6

 Exchange Students

Students who leave the Exchange Program 3 weeks or less prior to the start of the Orientation Week, or later, will be charged full room and board fees, semester ticket, and university fees for a corresponding semester.

 Visiting Students

Students who leave the Visiting Program up to 3 weeks prior to the start of the Orientation Week are eligible for a 100 % tuition refund. Cancellation fees for booked excursions may apply.

Students who leave the Visiting Program after this point and up to the four weeks after the start of the Orientation Week are eligible for a 50% tuition refund. The following charges are not refundable: room and board, semester ticket, university fee and all costs incurred for the planning and implementation of excursions.

Students who leave the Visiting Program after these four weeks are not eligible for any tuition, room and board, semester ticket or university fee refund for the respective semester in which they leave.

 Winter School Students

Students who leave the Winter School program up to 3 weeks prior to its start are eligible for a full refund of the course registration and room and board fees.

Students who leave the Winter School program 3 weeks or less prior to its start will be charged full course registration and room and board fees.

2.7 Graduating from Jacobs University

 All undergraduate students who are graduating must participate in an Exit Interview with Student Financial Services. You will be informed of the appointment dates in the spring of the year you expect to graduate.

 All graduating students must pay their student account in full three weeks prior to graduation.

 Students who do not settle their accounts in full by the deadline will not graduate, and will receive neither a diploma nor a transcript until their accounts are cleared. In this case, all open balances on your student account and tuition postponement account are due and payable immediately.

Student Financial Services 2015-06-08 page 7 of 7

3. UNDERGRADUATE FINANCIAL AID POLICIES

3.1 Applicants for Undergraduate Admission/Financial Aid

 All students applying for admission may also apply for financial aid. The deadlines for applying are:

Early Decision – December 1 Early Action I – January 1 Early Action II – March 1 Renewal Applications - May 1 Rolling Admissions – June 1

You must enclose originals or certified copies of your most recent tax documents verifying your family's income. In addition, you must submit further documentation verifying your parents’ gross and net income. This should be in the form of tax returns and pay slips or letters of employment. We also require a bank statement proving that € 1.000 are at your disposal for the first semester. Please ensure that your documents are certified and officially translated into either English or German.

You can find more information on how to apply at the following website:

http://www.jacobs-university.de/finaidapplication

3.2 Continuing Undergraduate Students

 Effective as of summer 2012, it is no longer mandatory to submit a financial aid renewal application. Your initial financial aid package is valid for your three years of studies at the university. If, however, circumstances in your family warrant a review of your financial aid package, you may submit the online application and all supporting documentation by May 1st. In this case, the online renewal application will be reviewed. However, there is no guarantee that your original financial aid package will be adjusted. We also reserve the right to spot-check any student receiving financial aid at any time.

 If you receive a scholarship, your GPA standing will be reviewed at the end of each academic year. You must retain a GPA better than 2,5 in order to keep your scholarship. In the case of loss, any resulting need may be partially or completely replaced with financial aid.

3.3 Exchange, Leave of Absence and Visiting Students

 If you are attending another university or taking a leave of absence and you plan to request financial aid for one semester in the following academic year, then you must inform your Financial Services Officer by the May 1st deadline.

3.4 7th Semester*

 No scholarships and/or grants are awarded in the rare case that a student is granted a 7th semester.

 Students granted a 7th semester may or may not be allowed to live on campus, depending on space availability.

 Students taking 4 courses or less will be charged 20% of tuition (2.000 €) per course. Students taking 5 or more courses will be charged full tuition (10.000 €).

 Candidates for a 7th semester may apply to receive a tuition postponement. A student’s previous level of indebtedness to the university will be evaluated, and an additional tuition postponement may or may not be granted. If you require a 7th semester, you must submit a complete financial aid application, including supporting documentation, as soon as your request has been approved by the dean.

*Dependent on the rules and regulations of the Registrar’s Office.

Student Financial Services 2015-06-08 page 8 of 8

3.5 External Scholarships

 Financial aid packages are built in the following order:

1. scholarship amounts are received from the admissions team 2. financial aid application is analyzed and a reasonable expected family contribution is determined 3. a tuition postponement of max. 7.500 € is granted 4. a grant is awarded to cover any gap to the total cost of attendance (24.500 €)

 If an outside scholarship acquired by Jacobs University is granted, the financial aid package will be affected as follows:

1. the outside scholarship replaces first the grant 2. if any amount is remaining, it replaces secondly part or all of the tuition postponement 3. if any amount is still remaining, it replaces thirdly part or all of the expected family contribution 4. any remaining amount then replaces the Jacobs scholarship

 If a student acquires an outside scholarship, the financial aid package will be affected as follows:

1. the outside scholarship replaces first the expected family contribution 2. if any amount is remaining, it replaces secondly part or all of the tuition postponement 3. if any amount is still remaining, it replaces thirdly part or all of the grant 4. any remaining amount then replaces the Jacobs scholarship

4. UNDERGRADUATE TUITION POSTPONEMENT PAYMENT POLICIES

The Tuition Postponement Plan is similar to a loan program. You are postponing the payment of your tuition through a deferral plan for each of the three years you are studying at Jacobs University. You are not required to make any repayments while you are studying at Jacobs University.

4.1 Interest Rate The general terms and rates of these policies are subject to change upon notification.

 The interest rate on your tuition postponement is fixed and will not change.

 The interest rate on your tuition postponement is currently 7,75% p.a. and is charged monthly.

 Interest begins accruing as soon as you receive the tuition postponement and continues to accrue until the tuition postponement and all accrued interest are repaid in full. Individual repayment plans that take into account your personal financial situation will be discussed during your exit interview.

4.2 Duration of your Tuition Postponement

 Your tuition postponement exists for the three years you are attending Jacobs University and for approximately seven years after graduation from or leaving Jacobs University. If you attend graduate school, the duration of the tuition postponement repayment period can be extended.

Student Financial Services 2015-06-08 page 9 of 9

4.3 Repayment

 You may begin repayment of your tuition postponement while you are studying at Jacobs University, but you are not required to do so.

 There are no penalties for early repayment of the tuition postponement or for additional installments paid. If you decide upon early repayment of the entire sum after leaving Jacobs University, you will receive a 5% discount on your last installment.

 Required repayment of your tuition postponement begins after graduating from or leaving Jacobs University permanently and after your grace period expires.

 The grace period is 6 months and it is the amount of time after graduating or leaving in which you are not required to begin repayment. The purpose of the grace period is to give you time to relocate, find employment, etc. For example, if you graduate in May/June, you would begin monthly payments in January of the following year or quarterly payments in March of the following year.

 You may request an extension of your grace period during further study periods (Master and/or PhD). In this case, contact us and provide proof of matriculation at an institute of higher learning.

 You may choose between payments on a monthly or on a quarterly basis. If you relocate outside of Germany, we recommend making payments on a quarterly basis in order to avoid high bank charges. The quarterly due dates are March 31st, June 30th, September 30th and December 31st. Timely payment is expected.

 If you are attending graduate school after leaving Jacobs University, you may apply for an additional grace period of up to 24 months. To take advantage of this, you must submit a copy of your registration at an institute of higher education each academic year you are enrolled. This option is only valid up to five years after graduating from or leaving Jacobs University.

 We urge you to consider taking a loan from a bank in your home country to fully or partly cover the university’s tuition postponement. Since interest rates at banks are sometimes lower than 7.75%, you may save a considerable amount on the interest accruing. In this case, please inform us of the amount of tuition postponement you would still require from Jacobs University Bremen.

 In addition, we urge you to research external scholarships that may be available to you. You will find further information and two scholarship search engines at the following website: https://www.jacobs-university.de/finances/external-scholarships-and-stipends

.4 Defaulting on your Tuition Postponement

 If you do not pay your agreed upon installments in time, you will be considered in default on your tuition postponement. If you are experiencing difficulties, please notify the Student Financial Services Office immediately.

 Jacobs University reserves the right to refuse to furnish grades, transcripts, diplomas or recommendations for students who do not pay their required monthly installments.

 In the case of default, the entire amount of the tuition postponement is due immediately and your case will be forwarded to a commercial collection agency. You will also be responsible for any additional costs incurred.

Student Financial Services 2015-06-08 page 10 of 10

5. QUESTIONS AND/OR CONCERNS

If you have any questions or concerns regarding your student accounts or financial aid package, please contact the following address: [email protected] or one of the following Student Financial Services Officers:

Nancy Trey (Last names A-D) [email protected] Head of Student Financial Services RLH 126

Anna Radünzel (Last names E-J and T-Z) [email protected] Student Financial Services Officer RLH 127

Sylvie Chatelain-Ciccone (Last names K-S) [email protected] Student Financial Services Officer RLH 125

If you are in repayment of your tuition postponement and have any questions or concerns, please contact:

Kirsten Postpischil (Last Names A-M) [email protected] or Tuition Postponement Officer [email protected] RLH 106

Eduarda Rocha Santos (Last Names N-Z) [email protected] or Tuition Postponement Officer [email protected] RLH 106

6. JACOBS UNIVERSITY BANKING INFORMATION

Note: Students are responsible for any and all bank charges incurred during a payment to Jacobs University.

Payments should be made to one of the following accounts:

Sparkasse Bremen Deutsche Bank AG IBAN: DE 732 905 0101 000 1181833 IBAN: DE33 2907 0024 0105 6688 00 BIC: SBREDE22 BIC: DEUTDEDBBRE

The address for the Sparkasse Bremen is: The address for the Deutsche Bank is: Am Brill 1-3 Domshof 25 28195 Bremen 28195 Bremen Germany Germany

Both codes are needed for transferring money to Jacobs University’s account internationally.

Please state on your transfer the student account number to which your payment should be credited (Student Account No., Tuition Postponement Account No.).

You may also choose our new payment system peerTransfer. With peerTransfer, you are offered excellent foreign exchange rates, allowing you to pay in your home currency (in most cases) and save a significant amount of money, as compared to traditional banks. Please see the following website for all details: https://www.peertransfer.com/

Student Financial Services 2015-06-08 page 11 of 11

7. STUDENT ACCOUNT STATEMENT

Carl Nobody College Ring Mailbox 28759 Bremen

1. STUDENT ACCOUNT STATEMENT 2015

2.Statement Date: 05.09.2015 3.Balance Student Account: -4.305,76 € 4.Balance Graduate TP Account: -1.950,00 € 5.Balance Tuition Postponement Account: -3.700,00 € 6.BALANCE DUE: -4.305,76 € ID: 123456789 Carl Nobody 16.Status: Enrolled/disenrolled

Account No: 65897 7. STUDENT ACCOUNT ACTIVITY 8. Date 9. Ref # 10. Description 11. Charges 12. Credits 3. Balance 1 Jan, 2015 56789 Beginning balance 0,00 € 6 Aug, 2015 78912 Carl Nobody - payment received 500,00 € 1 Sep, 2015 13526 Enrollment deposit -500,00 € 1 Sep, 2015 12345 Semester ticket 09/15-01/16 -155,76 € 1 Sep, 2015 23456 University Fee -100,00 € 1 Sep, 2015 34567 Tuition 09/15-01/16 -10.000,00 € 1 Sep, 2015 45678 Room & board 09/15-01/16 -2.250,00 € 1 Sep, 2015 11223 Scholarship 09/15-01/16 2.500,00 € 1 Sep, 2015 22334 Grant 09/15-01/16 1.950,00 € 1 Sep, 2015 85623 Tuition postp 09/15-01/16 3.750,00 € Total -4.305,76 €

Account No: 38880 13. GRADUATE TUITION POSTPONEMENT ACCOUNT ACTIVITY Balance Date Ref # Description Charges Credits 4. 1 Jan, 2015 56789 Beginning balance 0,00 € 1 Sep, 2015 65897 Tuition postp. 09/15-01/16 -2.000,00 € 1 Sep, 2015 78912 Carl Nobody – payment received 50,00 € Total -1.950 €

Account No: 45623 14. TUITION POSTPONEMENT ACCOUNT ACTIVITY Date Ref # Description Charges Credits 5. Balance 1 Jan, 2015 56789 Beginning balance 0,00 € 1 Sep, 2015 65897 Tuition postp. 09/15-01/16 -3.750,00 € 1 Sep, 2015 78912 Carl Nobody – payment received 50,00 € Total -3.700,00 € 15. Please state on your transfer the account number to which payment should be credited (Student Account No., Tuition Postponement Account No.).

The Student Account Balance is due and payable immediately. Please review this statement for accuracy and contact us immediately if you have any questions. Student Accounts Office, email: [email protected] Payments should be made to one of the following accounts: Jacobs University Bremen gGmbH Jacobs University Bremen gGmbH Sparkasse Bremen Deutsche Bank AG IBAN: DE 732 905 0101 000 1181833 BIC: SBREDE22 IBAN: DE33 2907 0024 0105 6688 00 BIC: DEUTDEDBBRE

Student Financial Services 2015-06-08 page 12 of 12

8. CLARIFICATION OF STUDENT ACCOUNT STATEMENT

1. The student account statement shows the charges and credits for one calendar year

2. The date the statement was produced.

3. Net total of all student account transactions.

4. Net total of all graduate tuition postponement account transactions.

5. Net total of all undergraduate tuition postponement account transactions.

6. Your Student Account balance, which includes your current charges, is due and payable by the due dates stated in section 11 of the SFS Policy Handbook.

7. List of all student account transaction activity for the current statement period. The "Beginning Balance" is equal to the student account balance from the previous year or statement. The detail itemizes all charges and/or credits made to your account.

8. Indicates the date your transaction was posted to the billing system.

9. Internal reference number for accounting purposes only.

10. Short description explaining the transaction.

11. Charges, such as tuition, room, board and related fees, applied to the account.

12. Credits from payments or corrections to the account.

13. List of all transactions pertaining to your graduate tuition postponement account for the current statement period. The "Beginning Balance" is equal to the tuition postponement balance from the previous year or statement. The detail itemizes all charges and/or credits made to your account.

14. List of all transactions pertaining to your tuition postponement account for the current statement period. The "Beginning Balance" is equal to the tuition postponement balance from the previous year or statement. The detail itemizes all charges and/or credits made to your account.

15. Very Important: To help us maintain an accurate account statement for you, please indicate your name and the reason for your payment on your transfer. For example if you were Carl Nobody and were transferring € 2,500 for tuition and your tuition postponement, you would indicate the following on your transfer: Carl Nobody, € 2,000 to Student Account No. 65897; € 500 to Tuition Postponement Account No. 85623.

16. Please note that the balance due (6) only reflects the balance on the student account but not on the graduate tuition postponement account or the undergraduate tuition postponement account. If your status showing is “disenrolled” or “suspension”, then you must refer to your tuition postponement payback plan for your monthly or quarterly rate. Alternatively, you may contact the offices of Student Financial Services at the following address: [email protected].

Student Financial Services 2015-06-08 page 13 of 13

9. COST OF ATTENDANCE UNDERGRADUATE STUDENTS ACADEMIC YEAR 2015-2016

Direct / Billed Charges*

Tuition** 20.000 € Room & Board 4.500 € University Fee 120 € Semester Tickets 312 € Broadcasting Fee 54 € Enrollment Deposit (one time only) 500 € Total 25.486 €

Indirect Estimated Expenses*

Residence Permit 100 € Health Insurance 945 € Total 1.045 €

*All fees are subject to change and this information sheet should be considered a guide only. ** Medical Natural Sciences = 30.000 € tuition only and Medical Preparatory Program = 25.000 € tuition, room and board

Your direct charges for tuition, room and board may be highly reduced by a Jacobs University scholarship and/or by our financial aid program.

Apply now! http://www.jacobs-university.de/study/undergraduate/fees-finances/financial-aid/financial-aid-application

Before you arrive, please ensure you have sufficient funds for all costs that exceed any financial aid package you may have. These costs include but are not limited to the stated indirect estimated expenses and of course, the amount anyone spends depends greatly on his or her own personal situation and individual choices.

______

Tuition – for one academic year

Room & Board – covers the cost for your college room, basic utility expenses like heating, water, electricity, internet access, plus three meals per day for nine months (September to May)

University Fee – for campus activities, graduation, etc.

Semester Ticket – allows you to travel on local public transportation at no additional cost for the entire year (including local trains to neighboring cities like Hannover, Hamburg, Osnabrück, and Oldenburg)

Broadcasting Fee – this fee is mandatory for all residents of Germany and covers the cost of public television and radio broadcastings

Enrollment Deposit – in order to confirm your acceptance of our offer of admission, you must pay a one-time enrollment deposit of 500 €

Residence Permit – required of all non-German students studying in Germany

Health Insurance – required of all students! You may be able to find less expensive health insurance from home, but you need to make sure that the insurance will cover all applicable costs in Germany. You also need verification of your health insurance in order to register.

Student Financial Services 2015-06-08 page 14 of 14

10. COST OF ATTENDANCE - GRADUATE STUDENTS

ACADEMIC YEAR 2015-2016

Annual Anticipated Expenses (in Euros) Tuition* 20.000 Room & Board (12 months)* 6.000 University Fee* 200 Semester Tickets* 290 Enrollment Deposit (new students only)* 500 Jacobs University Costs 26.990 Residence Permit** 100 Health Insurance** 920 Laptop (new students only)** 600 Books & Supplies** 1.000 Miscellaneous Expenses** 2.700 Outside Variable Costs 5.320

Estimated Total Cost of Attendance (for one year) 32.310

Tuition – for one academic year. Room & Board – In general graduate students have to rent an apartment or room on the open market. There is limited possibility for a small number of graduates to live in college accommodation. € 6.000,- is the very minimum you should calculate for room and board, depending on the apartment etc. it might be significantly more expensive. Enrollment Deposit - to confirm your acceptance of our offer of admission you must pay an enrollment deposit of 500 €. If you do not pay the enrollment deposit, Jacobs University’s offer of admission becomes invalid. This deposit is non-refundable. Residence Permit – required of all overseas students in Germany. Health Insurance – required of all students! Less expensive health insurance may be available at home, but you need to make sure that the insurance will cover all applicable costs in Germany. Semester ticket – allows you to travel on public transport in the local area for free. University Fee– Master and PhD-Students at Jacobs University are required to pay a university fee of 60 Euros and 50 Euros respectively per semester. The fee is due before the beginning of the semester and does not include the fee for the semester ticket, but covers other services like the government fee, the liability insurance, the graduation fees, clubs and sports activities etc. . Laptop – All students must bring a laptop of their own in order to have access to the various electronic information resources (such as the course registration system, library catalogue, online databases, printing facilities. A desktop computer is not sufficient as you will be using your laptop at different locations. Books & Supplies – on average textbooks cost 70 Euros per class. Miscellaneous Expenses – transportation costs to Jacobs University, clothing and personal care, laundry, long distance calls, entertainment, other trips home, presents (holiday and birthdays) and other items. Depending on your personal preferences the miscellaneous expenses may be higher than our approximation.

* Mandatory expense ** Variable expense

This information sheet should be considered a guide only. All fees may change without notice. Students must be prepared to cover all costs which exceed their financial assistance package and to ensure that these funds are available before they arrive at Jacobs University. Students with partners, spouses, or families should anticipate additional expenses, which are not covered by university aid.

Student Financial Services 2015-06-08 page 15 of 15

11. DUE DATES AND DEADLINES

The following due dates / deadlines are effective for undergraduate students, graduate students and students who have left or graduated from Jacobs University, where applicable.

FALL SEMESTER

August 1 Fall semester charges are due.*.

September 30 Quarterly installment of tuition postponement is due. Deadline for informing Jacobs University if you are not returning the following spring November 1 semester. November 1 Deadline for Early Decision undergraduate admission applicants. Deadline for Early Action I undergraduate admissions and Early Decision financial December 1 aid applicants. December 31 Quarterly installment of tuition postponement is due.

SPRING SEMESTER

January 1 Deadline for Early Action I undergraduate financial aid applicants. January 7 Spring semester charges are due.*

February 1 Deadline for Round I graduate admission applicants. February 1 Deadline for Early Action II undergraduate admissions applicants.

March 1 Deadline for Early Action II undergraduate financial aid applicants.

March 31 Quarterly installment of tuition postponement is due. May 1 Undergraduate financial aid renewal application may be submitted. May 1 Deadline for Round II graduate admission applicants. Deadline for informing Jacobs University if you are not returning the following fall June 1 semester. June 1 Deadline for Rolling Admissions undergraduate admission applicants.

June 15 Deadline for Rolling Admissions undergraduate financial aid applicants.

June 15 Bill for summer room & board is due. June 30 Quarterly installment of tuition postponement is due.

* Please note: If you are paying for Room + Board on a monthly basis, your payment is due by the 1st day of each month of the academic year in advance for the upcoming month.

Student Financial Services 2015-06-08 page 16 of 16