Financial Information

Financial Information

Fees payable to Mountbatten by the candidate

Fees vary based on the academic option selected.

Please click on a tab above to select an academic option.

Programme includes

  • One year of practical training and professional business experience in New York
  • Shared, furnished apartment accommodation
  • Utilities and basic cable/Internet (now included free)
  • Monthly training allowance of USD $1,275 (gross)
  • Tuition for year-long Certificate Course
  • Provision of course-related material
  • Health Insurance (policy upgraded to provide USD $250,000 medical coverage per condition)
  • Professional advice and support

The Certificate in International Business is recognized as an international qualification by the University of Chester (UK) for their Postgraduate Certificate in International Business award (PGCert).

Applicants through our London admissions office

Application Fee: GBP £55 *
Initial Deposit: GBP £600 **
Participation Fee: GBP £7,745 ***
Total fees: GBP £8,400

Applicants through other admissions offices

Application Fee: USD $100 *
Initial Deposit: USD $1,000 **
Participation Fee: USD $11,900 ***
Total fees: USD $13,000
* Payable at Application. Non-refundable.
** Payable on Acceptance onto the Programme.
*** Payable when placement with a Host Organisation is confirmed.

Programme includes

  • One year of practical training and professional business experience in New York
  • Shared, furnished apartment accommodation
  • Utilities and basic cable/Internet (now included free)
  • Monthly training allowance of USD $1,275 (gross)
  • Tuition for year-long Advanced Certificate Course
  • Provision of course-related material
  • Health Insurance (policy upgraded to provide USD $250,000 medical coverage per condition)
  • Professional advice and support

The Advanced Certificate in Entrepreneurial Management is recognized as an international qualification by the University of Chester (UK) for their Master of Arts in Entrepreneurial Management award (MA).

Applicants through our London admissions office

Application Fee: GBP £55 *
Initial Deposit: GBP £600 **
Participation Fee: GBP £10,345 ***
Total fees: GBP £11,000

Applicants through other admissions offices

Application Fee: USD $100 *
Initial Deposit: USD $1,000 **
Participation Fee: USD $15,900 ***
Total fees: USD $17,000
* Payable at Application. Non-refundable.
** Payable on Acceptance onto the Programme.
*** Payable when placement with a Host Organisation is confirmed.

Advanced Certificate (12 months in New York)
Programme includes

  • One year of practical training and professional business experience in New York
  • Shared, furnished apartment accommodation
  • Utilities and basic cable/Internet (now included free)
  • Monthly training allowance of USD $1,275 (gross)
  • Tuition for year-long Advanced Certificate Course
  • Provision of course-related material
  • Health Insurance (policy upgraded to provide USD $250,000 medical coverage per condition)
  • Professional advice and support

Students who successfully complete the year-long Advanced Certificate in International Business Practice in New York will qualify to complete their fieldwork studies over 14 weeks at the St Mary's University appointed campus in Bangkok, Thailand.

The Advanced Certificate in International Business Practice together with the successful completion of the 14 week international fieldwork in Bangkok is recognized as an international qualification by St. Mary's University (UK) for their Master of Business Administration in International Business Practice award (MBA).

4 months in the Asia Pacific Region, based in Bangkok
Includes

  • Course tuition (full-time and intensive) for 4 months
  • Provision of relevant course material
  • Individual studio or single room accommodation (with cleaning service)
  • Professional support and advice
  • Travel expenses (skytrain / underground) on lecture days
  • Lunch on seminar days
  • Health insurance
  • Visa fees

Applicants through our London admissions office

Application Fee: GBP £55 *
Initial Deposit: GBP £600 **
Programme Fee: GBP £2,845 ***
Tuition, New York: USD $14,000 ***
Tuition, Bangkok: USD $18,000 ****
Total fees: GBP £3,500 + USD $32,000

Applicants through other admissions offices

Application Fee: USD $100 *
Initial Deposit: USD $1,000 **
Programme Fee: USD $3,900 ***
Tuition, New York: USD $14,000 ***
Tuition, Bangkok: USD $18,000 ****
Total fees: USD $37,000
* Payable at Application. Non-refundable.
** Payable on Acceptance onto the Programme.
*** Payable when placement with a Host Organisation is confirmed.
**** A non-refundable deposit of USD $2,000 is due approximately 4 months prior to the start of the Asia/Pacific semester. The balance is payable approximately 45 days prior to the start of the semester.

The Initial Deposit is actually the first part of the Programme Fee. The Initial Deposit is fully refundable if the applicant is not placed. The Initial Deposit may be forfeited in part or in whole if the applicant subsequently withdraws from the Programme or unreasonably refuses to accept interviews or take a Placement. Candidates who accept a placement and subsequently withdraw 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 host organisation. Host organisations 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 host organisations, 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.

Allowances

Allowances are paid by the Program. No salary or allowance is paid to the trainee by host organisations.

Training Allowance: USD $1,275 before Federal and New York State taxes and is paid monthly in arrears. See United States Taxation & Tax Treaties. The allowance is paid from the first day of training with your host organisation. If your arrival in New York is delayed, for any reason, your training allowance will be paid from the first day of training with your Host Organisation. Accommodation is also included. See Accommodation.

Health Insurance

In accordance with the US Department of State J-1 visa regulations for Exchange Visitor programmes, all trainees must have health insurance for the full duration of their training/internship. As an international trainee, navigating the US health care system can be confusing and often expensive. To ensure compliance with these regulations, and to ease the transition from your home country to the USA, health insurance is included as part of your programme and covers accidental (i.e. unforeseeable) injury or sickness.

The coverage provided exceeds the mandated requirements for medical expense benefits. However, only you can decide whether you would like additional insurance, beyond that offered by the Programme, be it for dental, optical, to cover policy exclusions, including hazardous sports / activities, or otherwise because you want the safety and security of having more than USD $250,000 medical coverage per condition (per injury or sickness). To help you make an informed decision, you will be given a detailed Summary of Benefits prior to your arrival in the United States. Trainees are strongly urged to review the information carefully so that they are fully aware of the policy provisions and exclusions offered by the Mountbatten plan. Trainees with pre-existing medical conditions are required to obtain valid insurance for their condition prior to arriving in New York.

Mountbatten is not qualified to give advice on insurance, beyond our standard cover. Trainees are solely responsible for obtaining their own additional insurance, whether covering exclusions to our standard cover or additional insurance of any description. You are encouraged to seek professional advice and examine the market before coming to a decision.

United States Taxation

At the conclusion of 2017, Congress approved the first comprehensive tax reform in over 30 years. The new tax bill has implications on the way non-residents, including Mountbatten trainees, are taxed in 2018 and beyond.

As an Exchange Visitor on a J-1 Visa, you are considered a non-resident alien for tax purposes. US law requires that you pay Federal (approximately 10 to 12 per cent) and New York State income taxes. Such taxes are deducted/withheld from your monthly training allowance - see Tax Treaties for possible exemptions from withholding of Federal Tax. However, as a J-1 Visa holder you are not required to pay Social Security (S.S.) or Medicare (FICA).

Tax Treaties

The United States has tax treaties with a number of foreign countries, including, but not limited to, the United Kingdom, Ireland, and India. Under these treaties, many of which include specific provisions for students and trainees, residents of foreign countries are exempt from withholding of US Federal income tax, or are subject to Federal tax at a reduced rate on certain items of income. If you are eligible for exemption from withholding of Federal income tax (or a reduced rate) you will be required to complete Form 8233 upon arrival in New York to claim a treaty exemption. The Program is required to submit a copy of completed Form 8233 to the IRS.

For a list of tax treaties between the United States and particular countries: United States Income Tax Treaties - A - Z

If there is no tax treaty between your country and the United States, or if the IRS has any objections to Form 8233 and determines that you do not qualify for an exemption or reduced rate of withholding of Federal income tax, the Program will be required to deduct Federal tax from your monthly training allowance as outlined above.

Tax Filing

The tax year in the United States runs from January 1 through December 31. Trainees are responsible for reporting all income to the IRS to determine their individual tax liability. Trainees are required to file their own Federal and New York State tax returns at the end of each calendar year over which their Mountbatten year spans. The deadline for filing is April 15 of the following calendar year. Since the Mountbatten year covers two tax years, trainees will have to file one tax return during their Mountbatten year and a second after completing the Program. For example, if your training/internship year lasts from August 2018 to August 2019, you will need to file taxes by April 15 of both 2019 (for allowance payments from August 2018 - December 31, 2018) and 2020 respectively (for allowance payments from January 1, 2019 - August 2019).

During the Program, Mountbatten organizes seminars hosted by a qualified tax professional who provides information on the tax filing process in the United States. However, it is the individual responsibility of each trainee to ensure that his/her returns are filed correctly by the required deadline(s). Failure to file timely tax returns may have implications on future immigration status. Mountbatten is not a licensed tax preparer and staff are not qualified or responsible for providing tax advice or assistance in the preparation of trainee tax returns. If you have specific questions, accountants and tax preparation services are readily available in New York for a fee.

Security Deposit

A security deposit of USD $200 is retained by the Programme by deducting USD $100 from the first two training allowance payments. This deposit is returned approximately 12 weeks after completion of the programme less any required payments for breakages, damage to apartment furniture, etc.

Other Expenses

Candidates are responsible for the following additional expenses:

  • MRV fee (visa application fee) of USD $160.
  • Travel to the nearest embassy or consulate for a visa interview.
  • 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.
  • Airfare costs to and from New York, which vary according to the time of year.
  • Personal possessions insurance.
  • Approximately USD $2,000 - 2,500 will be needed to cover expenses during the first few weeks. The Programme makes arrangements for participants to open a US bank account as soon as possible after their arrival in the USA.

The MRV and SEVIS fees were correct as of March 2017, but are subject to change without notice.

Funding / Loans

St Mary's University, Twickenham and the University of Chester are registered learning providers with the Skills Funding Agency. Candidates from the UK may be eligible for funding in the form of a Professional and Career Development Loan.

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 UK government's Skills Funding Agency 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, it 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/en/EducationAndLearning or contact Next Step on +44 (0) 800 100 900.

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.
Visit Prospects' and Jobs.ac.uk websites to research postgraduate funding:
www.prospects.ac.uk/postgraduate-study/funding-postgraduate-study
www.jobs.ac.uk/careers-advice/studentships/1740/funding-postgraduate-study-abroad

Visit Direct Gov for bursaries, scholarships and awards:
www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Typesoffinance/DG_171571