Financial Policy

MSM Financial Policy MBA and Master in Management Programmes

This policy includes all financial rules and regulations that apply to the MSM-MBA and MSM-Master in Management (MM) study programmes.

Payment of fees

All fees must be paid by the student before services will be provided.

• The programme application fee (EUR 95,-) must be paid before a student’s application will be processed.
• The visa application is only handled after the first instalment is paid by the student. (only applicable for full-time programs based in Maastricht).
• The tuition fee must be settled before a student will be enrolled to the programme.
• Please contact the MSM Admissions Office to receive more information about the possibilities of payment in instalments.
  In case the fee is paid in instalments, it is the student's responsibility to settle each instalment before the payment deadline in order to stay enrolled in the programme. Otherwise, the student will be temporarily suspended from the programme.

Financial suspension

Students who are in financial default with MSM will be suspended from the program. No attendance to classes and examinations is given and no grades are issued, until the payment has been settled.

Deferral

In case a student wants to defer his/her admission to a next intake, the student should inform the MSM Admissions Office as soon as possible. Please note that deferment is only possible for one year.

Tuition fees and scholarships can only be deferred if the first agreed tuition payment has been settled, otherwise tuition and scholarships will be recalculated based on the policies for the year in which the student will actually join the program.

Refund

Should the student withdraw from the programme after paying the tuition fee (including extra costs such as visa application fee, study materials and health insurance), but before the start of the programme, the tuition fee will be refunded minus the application fee of EUR 95,- , minus the visa application costs of EUR 228,- (only applicable for full-time programmes based in Maastricht) and minus an administration fee of EUR 450,-.

In case the visa application of a student is not successful, the tuition fee will be refunded minus the application fee of EUR 95,- , minus the visa application costs of EUR 228,- (only applicable for full-time programmes based in Maastricht) and minus an administration fee of EUR 450,- .

In exceptional cases a refund can be granted if a student withdraws during the programme, based on personal circumstances or Force Majeure as described in the MSM-MBA and MSM-MM Education and Examination Regulations, article 17.5 and 17.6. A possible refund will only be considered in case a student is not dismissed from the programme, and will be calculated based on the ECTS credits not attended yet (fee per ECTS credit is calculated as the net tuition fee minus an administration fee of EUR 450,- and then divided by the amount of ECTS credits of the programme).

Additional fees

If a student needs extra examination opportunities to pass the exam for the MSM-MBA or MSM-MM programme, or if the student exceeds the nominal study period, additional fees will be due.

Additional examination opportunity
Each course as well as the Master’s thesis cycle includes a first and a resit opportunity for each examination (component). In case the student does not pass the resit, (s)he needs to register for the course or Master’s thesis cycle the next academic year. The following fees apply:

• For re-taking a course or re-taking one or more examination components of a course EUR 1.500 ,- will be charged. It is upon the student to decide if (s)he wants to attend the whole course again or only take the examination components (s)he has not passed yet.
• For an additional Master’s thesis cycle EUR 4.500,- will be charged.

Registration fee
Each student needs a valid registration with Maastricht University (UM) in order to take part in courses and examinations. This registration fee is included in the study fee for the nominal study period (the period in which a student should normally finish the programme). If a student exceeds the nominal study duration, for each additional study year (s)he must pay a registration fee of EUR 2.000,- which covers the costs for administration, software licenses, study material, etc.

• For full-time students the additional registration fee will be due from year 3 onwards.
• For part-time students the additional registration fee will be due from year 4 onwards.

Payment additional fees
For all additional fees the student will receive an invoice. The additional fees must be paid in total before the student can attend the respective classes and examinations.

Extra costs (required)
*Only applicable for the full-time residential Master in Management and full-time MBA

Estimated related costs
*Only applicable for the full-time residential Master in Management and full-time MBA

* These estimates apply to one person’s (basic) expenses in the Netherlands and are based on attending the standard 52-week Master in Management and full-time MBA programme. Students who need to apply for a student permit, are required to show evidence of financial resources of minimum € 15.000 for living.

Disclaimer
Please note that MSM has the right to adjust any fees according to price indexation, and determine additional fees according to changes in the programme or administrative procedures.