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Financial Support Package

Despite the situation with COVID-19 slowly improving in Australia, we understand that many of our students are continuing to face financial hardship. We are committed to ensuring both your wellbeing and success at Kaplan Business School and that’s why we’re extending our financial support package into Trimester 3, 2020 which will bring our total financial support package for the year to over $6 million.

This is further justification for KBS being the only independent provider to be shortlisted for the Australian Financial Review Higher Education Awards, specifically for the International Education category.


TEMPORARY TUITION RELIEF

Much like we did in Trimester 2, we are ensuring that all our students receive financial relief for the upcoming study period. We will provide a $250 credit to be applied to your fees when you enrol in a full-time study load for Trimester 3. Since strict lockdown measures were implemented in early July, we understand that our Melbourne students are some of the most impacted. For this reason, we’ll provide an additional $250 credit for students who enrol in a full-time study load at our Melbourne campus. Click on the heading for Terms and Conditions.


NO INCREASE IN 2021 FEES

As COVID-19 continues to impact us through 2020, we’ve made the decision to not increase our fees for 2021. We understand the financial pressures all our students are currently facing are not short-term and we hope this decision allows our students assurance in studying with KBS into the new year and until the beginning of 2022.


WAIVING OF ADMINISTRATION FEES

For Trimester 3, 2020, we will continue to waive key administrative fees for re-enrolling students including the Recognition of Prior Learning Fee ($260) and the Assessment Re-mark Fee ($250). Click on the heading for Terms and Conditions.


EXTERNAL FINANCIAL SUPPORT AND AID

Beyond the financial support measures Kaplan Business School is offering, there are a number of state and federal government authorities, along with a wide range of community-based organisations, offering extensive financial assistance and support. We’ve collated these to make them easy for you to access. We will keep this list updated regularly. Please note, all external websites and services are subject to change. Click on the heading for more details.


FURTHER QUESTIONS

If you have any further questions related to the detail noted above, please read the Frequently Asked Questions below.

If your question is not answered in these FAQs, please email studentservices@kbs.edu.au.

FAQS

Q: What financial support is KBS providing to its students for Trimester 3, 2020?

A: Unlike most other providers, KBS recognises that our students are still suffering financial hardship as a result of COVID-19. Therefore, we’ve once again put together a Financial Support Package that reaches all our students as well as further supporting those most in need. This consists of a $250 Temporary Tuition Relief credit for all students enrolling in a full-time study load in Trimester 3, 2020 as well as an additional $250 Temporary Tuition Relief credit for our students in Melbourne who have suffered significantly since the lockdown in early July. We’ve also frozen our prices for 2021, waived some key administration fees and collated a list of external financial assistance and support options here.

Q: I need some financial assistance now. How can KBS help me?

A: The Financial Support Package has been designed to ensure there is help for every KBS student. The main reason we explored the possibility of a Temporary Tuition Relief credit is that we understand school fees are a major cost for international students in Australia. We also encourage students to explore all the necessary external options of financial aid and support, offered nationally and by state. See a full list of these here, which we endeavour to keep up to date.

Q: Why are Melbourne students receiving an additional $250 credit?

A: A second wave of COVID-19 infections in Melbourne led to lockdown conditions being re-introduced on July 9. Since then, we’ve had to close our campus in Docklands and the economy in Victoria has suffered greatly as a result. With our students in Melbourne being disproportionally affected we will be giving them an additional $250 credit to ensure they have the extra help they might need.

Q: Do I have to apply for the Temporary Tuition Relief?

A: No. Eligible students will automatically get this credited to their account before they enrol in a full-time study load for Trimester 3, 2020.

Q: Does the Temporary Tuition Relief apply to each subject?

A: No. The Temporary Tuition Relief applies to your total tuition fee for the trimester.

Q: Why are you providing a credit instead of transferring the funds directly into my account?

A: To implement these measures so that students are assisted as rapidly as possible, we’ve opted for a credit because the logistics, systems-related processes, administration, time and compliance aspects of organising direct transfers would have delayed payment to students by many months. Such a delay was unacceptable to us.

Q: Why do I have to enrol in Trimester 3 to be eligible for the $250 credit?

A: Our financial hardship measures are designed in part to ensure our students can continue studying with Kaplan Business School beyond the current trimester. Since tuition fees are a significant cost for many students, providing a substantial credit towards these fees was deemed to be the most direct way of ensuring they can continue towards their ultimate goal, which is to complete their studies.

Q: Why is Kaplan Business School committing fewer funds than universities?

A: Universities in Australia are publicly funded by the Australian Government. As an independent provider, Kaplan Business School does not receive such funding from the government and therefore does not have the resources or scale to match the universities.

It should also be noted KBS has only 10% of the number of students enrolled on average at each Australian university, which means we are nowhere near the beneficiaries of the enormous revenues they generate. In addition, only 13% of providers have reduced their fees due to COVID-19, with KBS being one of them.

A fairer comparison would be to assess KBS’s financial hardship measures to other non-university providers across Australia. To our knowledge, no other institution has publicly announced measures as generous or as extensive as those that have been launched by us.

TEMPORARY TUITION RELIEF TERMS AND CONDITIONS

1. The Temporary Tuition Relief is for re-enrolling and new students in Trimester 3, 2020.

2. The Temporary Tuition Relief will automatically be applied to your Trimester 3, 2020 total fees in KHUB.

3. The Temporary Tuition Relief is only for students who enrol in a full-time subject load for Trimester 3, 2020.

4. The Temporary Tuition Relief is only applicable for Trimester 3, 2020 and will not be carried over to a future trimester.

5. The Temporary Tuition Relief will only be applied as a one-off reduction per student.

6. If you already hold an existing scholarship, the Temporary Tuition Relief will be in addition to the percentage by which your fees have already been reduced as a result of your scholarship.

7. The Temporary Tuition Relief will not be applicable to students who have an existing scholarship of above 30%.

8. Subject enrolments for Trimester 3 will open in Week 12 on October 5, 2020. This is when current students can enrol and pay for their subjects with the Temporary Tuition Relief applied.

9. The Temporary Tuition Relief will be applied for new students at Orientation week (November 9 2020) for when they subject enrol.

10. Subject fees in KHUB will automatically reflect the Temporary Tuition Relief.

11. If Trimester 3 tuition fees have already been paid, the Temporary Tuition Relief credit will not be refunded, but the pre-paid fees can be carried over to be used against Trimester 1, 2021 tuition fees.

12. The additional $250 of Temporary Tuition Relief is for re-enrolling students studying at our Melbourne campus.

13. The additional $250 of Temporary Tuition Relief is not available for any students who are transferring from another campus to the Melbourne campus.

WAIVING OF ADMINISTRATION FEES TERMS AND CONDITIONS

1. We will waive the following administrative fees for all enrolled students in Trimester 2, 2020:

a. Recognition of Prior Learning fee: $260

b. Re-Mark fee: $250

2. The Recognition of Prior Learning fee will be waived for the duration of Trimester 3, 2020, from Monday, 26 October 2020 up to and including Friday, 19 March 2021.

3. The Re-Mark fee will be waived for the duration of Trimester 3, 2020, from Monday, 16 November 2020 up to and including Friday, 19 March 2021.