At Genius IT Brainery, we are committed to providing top-notch education and training opportunities to our students. To ensure that our courses remain accessible and affordable while accounting for the effects of inflation and late payments, we have established a clear and transparent payment structure. This structure is designed to cater to the financial preferences and circumstances of our students. Below, we outline the various payment options and their corresponding percentage increases to accommodate inflation:
PAYMENT OPTIONS AND INFLATION ADJUSTMENT:
- One-time Payment (Flat Rate):
- Interest Rate: 0%
- Inflation Adjustment: 0%
- Total Payment: Course Fee
- Monthly Payment:
- Interest Rate: 5%
- Inflation Adjustment: Calculated Annually
- Total Payment: Monthly Instalment + Yearly Inflation Adjustment
- Payment After Course Completion (Post-Payment):
- Interest Rate: 10%
- Inflation Adjustment: Calculated Annually
- Total Payment: Course Fee + Yearly Inflation Adjustment (Applied after course completion)
EXPLANATION OF PAYMENT TERMS
- One-time Payment (Flat Rate): This option allows students to pay the entire course fee upfront with no additional interest charges. The course fee remains fixed throughout the duration of the course, and there are no inflation adjustments.
- Monthly Payment: Under this option, students pay their course fees in monthly instalments. A 5% interest rate is applied to each instalment. To account for inflation, an annual inflation adjustment is calculated and added to the monthly instalment.
- Payment After Course Completion (Post-Payment): Students who choose this option pay the course fee after completing their course. A 10% interest rate is applied to the total course fee. Similar to the monthly payment option, an annual inflation adjustment is calculated and added to the course fee after course completion.
LATE PAYMENT POLICY
In the event of defaulting on payments, our late payment policy applies. For students who miss their payment deadlines, a 20% interest charge is accumulated and applied for each month the payment remains overdue. This policy ensures that students are incentivized to make timely payments and helps mitigate the impact of inflation.
At Genius IT Brainery, we are dedicated to offering flexible payment options to cater to the financial needs of our students. By providing these payment terms and conditions, we aim to ensure that the value of our courses remains accessible and adaptable in an ever-changing economic landscape.
SUMMARY OF PAYMENT TERMS
- One-time Payment (Flat Rate): 0% interest, no inflation adjustment.
- Monthly Payment: 5% interest, with an annual inflation adjustment.
- Payment After Course Completion (Post-Payment): 10% interest, with an annual inflation adjustment after course completion.
- Late Payment Policy: 20% interest is applied for each month a payment is overdue.
| PAYMENT OPTION | INTEREST RATE | INFLATION ADJUSTMENT | TOTAL PAYMENT |
| One-time Payment (Flat Rate) | 0% | 0% | Course Fee |
| Monthly Payment | 5% | Calculated Annually | Monthly Installment + Yearly Inflation Adjustment |
| Payment After Course Completion | 10% | Calculated Annually | Course Fee + Yearly Inflation Adjustment (Applied after course completion) |
| Late Payment | 20% | Calculated | Course Fee/Balance + Inflation Adjustment on balance left monthly. |
We encourage our students to carefully consider these payment options and select the one that best aligns with their financial situation. If you have any questions or need further clarification regarding our payment terms and conditions, please do not hesitate to contact our finance department for assistance. We are here to support your educational journey at Genius IT Brainery.
PLEASE NOTE:
- All calculations are done during the application process except for the Late Payment Policy.
- A year at Genius IT Brainery constitutes the full duration of a course with us.
