Financial assistance in the form of loans, scholarships or sponsorship may cover the full cost of your tuition fees or a portion of this cost. If the support you receive does not cover the full cost of tuition you will be required to pay the remaining amount yourself.
All fees, including tuition fees and any other applicable charges, must be paid before the beginning of induction week.
Please note, Henry Wood Accommodation Trust Awards are made for the purpose of assisting with the cost of accommodation and cannot be allocated towards tuition fees. If you are a recipient of a Henry Wood Accommodation Trust Award you will not see the value of this award deducted from you fee total. It will be paid out to you once term has started. You will receive a separate email about this during August.
Home and eligible EU undergraduates with Student Loans Company Tuition Fee Loans
If your tuition fees are covered in full by a Tuition Fee Loan from the Student Loan Company, you do not need to make any payment and the RCM will be notified directly when your application is approved. If your loan does not cover the full amount of your fees, you will need to pay the shortfall before induction week.
My application for a student loan is still pending
If you are still waiting to hear about the outcome of your application at the time that fees are due to be paid, please provide proof of your application or documentation stating that your application has been received and is being processed. You will also be required to sign and date this documentation to state that you agree to pay the full amount of your tuition fee if your application is not successful.
Postgraduate Loans
If you have applied for a Postgraduate Loan from the Student Loans Company (Masters and Doctoral students only), and are awaiting receipt of the funds prior to paying your tuition fees, you do not need to make payment yet. Following commencement of the academic year, the RCM will confirm directly with the SLC that you are in attendance and your loan funds will be disbursed to you. When you are in receipt of the funds, you can then arrange payment via the online payment system. You will need your Student ID (from your student ID card or the email inviting you to register) and your date of birth to log in. If your loan does not cover the full amount due, you will need to pay the shortfall.
US Loans
If you have applied for a US Loan, you do not need to make any payment (unless there is a shortfall) since we will have a record of your application. You will automatically be granted an instalment plan. Funds received from the US will firstly be applied towards your tuition fee instalment with any surplus paid into your bank account. If the funds do not cover the full amount of your instalment, you will need to pay the shortfall in each instance. You will be sent a disbursement statement following each disbursement with a breakdown of costs.
RCM scholarships
Home or eligible EU undergraduates
Home or EU BMus students eligible for a UK government Tuition Fee Loan who have also been awarded an RCM Scholarship should refer to the separate RCM Scholarship letter which details the options available to you.
You must respond to this letter by 21 August 2023.
If your scholarship is being applied to your tuition fees, you will still need to pay any remainder either in full, or by instalment. If you choose to have your scholarship applied to your fees, please pay online after 31 August 2023 so your scholarship can be deducted from the amount due.
Overseas undergraduates & all postgraduates
If you have been awarded an RCM Scholarship, you will have already been notified by the RCM. The amount will already have been deducted off the total tuition fees and you will need to pay the balance either in full or by instalment.
Partial scholarships & online payment plans
If you have been awarded a scholarship that only covers part of your tuition fees and you have opted to pay the remainder through online instalments, the scholarship payment at the beginning of the year does not count as the first instalment of your payment plan.
All scholarships and awards, including fees paid by sponsors to the RCM directly, are deducted from the total due before the balance is split into instalments. The balance remaining after all deductions is the amount payable by you.
Students with Career Development Loan
If you applied for a Career Development Loan, please provide proof of this to our Student Finance team. The College is able to send an invoice to your sponsor if needed, upon request. If your funding does not cover the full cost of your fees, you will need to pay the difference either in full or by instalment, online.
Students with fees covered by a sponsor, foundation or trust
If you have a sponsor that will be paying part or all of your fees, please provide proof of this to our Student Finance team. Proof can be a letter, email or any correspondence with the sponsor.
The RCM is able to send an invoice to your sponsor upon request if required. Please send the correspondence in which the sponsor requests an invoice to the Finance department. An invoice will be raised in October. Invoices to sponsors cannot be sent in advance of the academic year as confirmation of registration must be on record.
If your funding does not cover the full cost of your fees, you will need to pay the difference before induction week. This can be done in full or in instalments. Payments by instalment can only be made online.
Direct payment from sponsors
The RCM will accept direct payment from sponsors either by cheque or via bank transfer. Please ask them to reference your name, which will enable the RCM to identify the payment and allocate the funds correctly. If your sponsor does not cover the full cost of your fees, you will be required to pay the difference.
Please advise your sponsor that payment should be arranged one week before induction week to allow enough time for the RCM to receive the funds before the payment deadline.
Payment from sponsors in a foreign currency
It is possible to make a payment in a foreign currency, however we cannot specify the amount due because the value of currencies varies daily and the exchange rates offered vary between banks. We cannot guarantee that the rate offered by the RCM’s bank will be equivalent to the rate offered by somebody else.
We suggest that your sponsor checks the exchange rate with their bank before arranging payment. If there is a shortfall you will be required to pay the remainder.
Using multiple sources of financial support
You can use several different forms of financial assistance to cover either the full cost of your tuition fees or a portion of them. In this case, you should be careful to check the amount of time required for each supporting body to transfer funds to the RCM as this may be different depending on the payment method they use.
My fees will be covered by a combination of student loan and Career Development Loan, but one or both applications is still pending
If you are still waiting to hear about the outcome of your application at the time that fees are due to be paid, please provide proof of your application or documentation stating that your application has been received and is being processed. You will also be required to sign and date this documentation to state that you agree to pay the full amount of your tuition fee if your application is not successful.
Enquiries
If you have any queries about using a loan, scholarship or sponsorship to cover your fees, please contact our Student Finance team. You can also contact the team with invoice requests from sponsors or to provide proof of sponsorship if we have asked for this above.
