REFUND POLICY

Purpose:
The purpose of this policy is to establish general guidelines for a refund.

Definitions:
Refund refers to the return of payment in the same mode in which it was paid.

Full refund refers to the refund of monies paid to the respective students’ Escrow account in case of any of the events listed as below at schedule 1.1.

Application fee refers to the fee that the student pays OSAC International College for the sole purpose of processing the application submitted. Application fees are strictly nonrefundable.

Partial refund refers to the refund of a percentage of monies paid to the school. The percentages are specified in the Refund table listed as below at schedule 2.1.

7 days cooling-off period refers to the immediate 7 working days after a student has signed the standard student contract with OSAC International College, in which a student is allowed to submit written notice to OSAC International College and receive a maximum refund as per stipulated in schedule 1.4. In the event that the 7 working days overlap the refund policy period as stated in schedule 2.1, it is to be taken that this cooling-off period takes precedence over the refund policy period. Once the 7-day cooling-off period is over, the refund policy will then take immediate effect as per schedule.

Course commencement date (CCD) refers to the day that students are required to report to school to start classes for the course signed up for.

1.0 Full Refund

1.1 OSAC International College will issue a full refund in case of any of the events listed below:

• • • It fails, for any reason, to commence the Course on the Course Commencement Date;
    • It terminates the Course, for any reason, prior to the Course Commencement Date;
    • It fails, for any reason, to complete the Course by the Course Completion Date;
    • It terminates the Course, for any reason, prior to Course Completion Date; or
    • The Student’s Pass application is rejected by Immigration and Checkpoint Authority (ICA)

1.2 Processing Time for the Refund: Within 7 working days.

1.3 Amount: All Course Fees paid to escrow account (as stated in the Standard Student Contract).

1.4 Full refund for withdrawal during 7 days cooling off period:
For withdrawal during the 7 days cooling off period, students are entitled to a refund of all monies paid, less any course fees consumed by the student if the withdrawal date is later than the course commencement date and the student has started the course. Application fee and any applicable bank administrative charges are nonrefundable.

2.0 Refund Policy for Withdrawal

2.1 Refund amounts

2.2 Time frame to process refund: 7 working days

REFUND PROCEDURES

* Record has to be kept for 5 years

Review:
This policy shall be reviewed annually in compliance with education industry guidelines and standards including those set out by the Council for Private Education. 

Procedure: 
Student Services Department is responsible for procedure development.

Responsibility:
The responsibility for implementation and interpretation of the above listed policies rest with the Student Services Department.