For information relating to the recent fee changes, click here.

FEES PAYABLE TO MOUNTBATTEN BY THE CANDIDATE

Interns are required to choose between either:

1. The Postgraduate Certificate in International Business Practice

or


2. The MBA in International Business Practice

The Initial Deposit is actually the first part of the Participation Fee.  It is refundable if the applicant is not placed.  It is not refundable if the applicant subsequently withdraws from the Programme or unreasonably refuses to take a Placement.  If a candidate accepts a placement and subsequently withdraws, they will not normally be permitted to defer to the next intake.

Acceptance means that the applicant, having been interviewed, is considered appropriate for the Programme.  Notification of Acceptance is always in writing and an Initial Deposit will be requested before any further action is taken.

Acceptance does not guarantee a Placement, since this must ultimately be at the discretion of the sponsoring company.  Sponsoring companies demand a choice of candidates and as a practical matter this can only be achieved by having an oversupply of acceptable candidates.

The Programme would ideally place all accepted candidates.  However, the vagaries of both the supply of candidates and the demand by sponsoring companies, coupled with requests on both sides for a specific match, make this process difficult to predict and manage.  Thus, despite our best efforts, some accepted candidates will not get placed first time round.  Such candidates may opt to receive a refund of their initial deposit or to stay on the lists for the next intake.

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ALLOWANCES PAID TO THE INTERN
Allowances are paid by the Programme, (your employer of record).  No salary or allowance is paid to the intern by sponsor companies.

Living allowance:  USD $468 gross, paid every two weeks in arrears over 12 months.  Approx USD $8 per paycheck deducted for telephone and taxes etc - therefore net fortnightly pay = approx USD $460.

Accommodation is provided free of charge.  (Interns are obliged to live in the Programme's accommodation - there are no exceptions).  Medical insurance is also provided free of charge.  See Living in New York.

A bonus of USD $500 is paid to interns who properly complete all aspects of their internship on time and who comply fully with the standards and rules of the Programme.

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SECURITY DEPOSIT
A security deposit of USD $200 is retained by the Programme by deducting USD $50 from each of the first four living allowance payments.  This deposit is returned 3 - 4 months after completion of the internship less any required payments for breakages, damage to apartment furniture, etc., and less a USD $75 charge for professional cleaning of the apartment.

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OTHER EXPENSES
Applicants will be responsible for their own expenses involved in obtaining their J1 visa at a US Embassy or Consulate.  This will involve (1) a USD $131 visa application fee, payable at a bank (2) traveling to the nearest embassy or consulate for an interview and (3) a SEVIS (Student & Exchange Visitor Information System) fee of USD $180, payable to the US Government (Department of Homeland Security) via the internet using a credit card.  You will be sent full details in due course, but those applicants without credit cards might wish to line up their arrangements beforehand in order not to delay your visa processing.  These fees were correct as of March 2009, but are subject to change without notice.

Airfare costs vary according to the time of year.  Additional insurance cover may be needed - see Living in New York.

In New York, interns are responsible for their own electricity and telephone bills.  Approximately USD $900 will be needed to cover expenses during the first few weeks.  The Programme makes arrangements for interns to open a US bank account as soon as possible after their arrival in the USA.

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FUNDING / LOANS
Those candidates searching for funding opportunities may be eligible for a Professional and Career Development Loan.  St. Mary's University College is a registered learning provider with the Learning and Skills Council.

Professional and Career Development Loans are bank loans that can be used to help pay for work related learning.  You can borrow between GBP £300 and GBP £10,000 to help support the cost of up to two years of learning (or three years if it includes one year’s relevant unpaid practical work).  The Learning and Skills Council will pay the interest on the loan while you are learning and for one month afterwards.  The loan can be used to pay course fees or other costs such as travel and living expenses.  You can also use the loan to supplement other forms of support such as grants or bursaries.  Because the Professional and Career Development Loan is a commercial loan product, they should only be considered as an option once all other student funding options have been investigated.  For further information on financial assistance to support your learning, please visit www.direct.gov.uk/adultlearning or contact Careers Advice on 0800 100 900.

Please be aware that due to the nature of the our application process and the loan issuing structure, candidates might not receive approval for the loan until they secure a placement in NY.

We also recommend researching other possible grants and loans available.  www.funderfinder.org is just one website of many that provides information about financial aid.

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