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STUDENT FINANCIAL REGULATIONS AND POLICY MANUAL
Below are the policy issues affecting students in the University’s Financial Regulations and Policy Manual.
Setting of Fees and Other Charges
The responsibility of setting the fees and other student’s charges rests on the University Council.
The University will charge fees for services at the most optimal price, taking into consideration the opportunity cost of the service and competitors’ charges for that service. The University shall not charge at less than cost for any service unless the service is clearly subsidized and funds for subsidy identified.
Where it is necessary to charge at lower than cost for marketing reasons, the source of funds to make up shall be identified and stated in the budget as being for that use.
The University shall charge tuition fees as approved by the Council.
Late registration fee will be charged after two days from the first day of the semester. The charge will be a flat amount of KES 500/= (Five Hundred Kenya Shillings Only) per day.
It is not acceptable for any fees to remain unpaid after the end of the fiscal year and it will be the
Joint responsibility of all departments (the Registrar, Librarian, ICT, Finance, Student Development and the teaching faculties) to ensure indebted students are discontinued from receiving services if their parents/sponsors do not respond to reasonable reminder of indebtedness by Finance Officer.
The Financial Regulations and Policy Manual for the University was approved by a Joint Meeting of University Council and Board of Trustees in November 2010
Instalment Payments Plan (IPP)
Instalment Payments are made available to undergraduate students who will not be in a position to pay the entire fees upon registration.
The conditions for one to qualify for the Instalment Payment Plan will be as follows:
All outstanding balances must have been cleared.
The sponsor/parent must sign the instalment payment plan agreement form in the presence of an officer in Finance Department.
The maximum credit period allowed is 60(sixty) days from the commencement of the semester / term.
The student must pay at least 70% of the tuition and hostel charges and 100% of all other charges at the time of registration.
A flat financing fee will be charged for this arrangement at rates to be determined by Management Board from time to time.
The management shall look for alternative ways of financing student fees and cease to offer credit facilities.
Continuous assessment and investigation must be made to establish whether the University is receiving all income it is entitled to by the Finance Officer who reports his findings to the Management Board.
Students on specific sponsorship shall be allowed to register under IPP agreement.
All students who default will not be allowed to sit for exams for that semester/ term unless they pay in full before the published deadline.
Refunds and Reversals
Reversal of charges in the students’ accounts will be done under the following circumstances upon the receipt of the request letter:
When a student dies in the course of the semester. In this case, all the unused charges related to the University shall be reversed.
When a student withdraws from the University or drops in the course of a semester officially, i.e. makes a formal letter to the University Registrar. If it is within the first week of the semester/term, the unused amount shall be reversed; the second week up to 90 % but after the two weeks, the reversal or refund shall be on pro-rata basis for a maximum period of one month (i.e. four weeks).
Neither refund nor reversal shall be made after the four weeks from the beginning of the semester.
Where a student has been discontinued because of disciplinary action, there will be neither refund nor reversal whatsoever.
Pan Africa Christian University | P.o Box 56875 – 00200, Nairobi | Kenya.
Call Centre +254205293034,
Main Campus: +254721932050, +254734400694
Valley Road Campus: +254202318203
Website: www.pacuniversity.ac.ke Facebook: www.facebook.com/pacuniversity and Twitter twitter.com/PacUniversity1.