Following are the expenses per quarter. All amounts are in Cayman currency. Book costs vary and thus are not included. There are four quarters in the school year. Fees are subject to change and students will be notified of any change one quarter in advance.
Institutional financial assistance is funded through local benefactors. These funds are disbursed into three categories of assistance to ICCI students who qualify on a quarterly basis as funding permits.
Three kinds of institutional financial assistance ranging between $100.00 to $800.00 per quarter are available to students who qualify when funding permits: scholarships, grants, and grants-in-aid (work study).
Scholarships are financial gifts to a student. The primary reason for the award is the student’s performance (or potential for performance) in the educational program of the institution. To receive scholarship awards for the quarter, students must have a minimum 2.5 cumulative grade point average. If a student is awarded a scholarship, the minimum amount awarded is $100.00 and the maximum is $800.00 per quarter. The amount awarded is determined by several factors including the student’s performance, the amount requested, the number of classes being taken by the student and the number of applications received in total. Scholarships do not require repayment. Applications for scholarships must be submitted each quarter.
Grants are gifts of money made to a student in need of financial assistance and believed capable of meeting academic requirements. To receive grant awards for the quarter students must have a 2.5 cumulative grade point average. The minimum is $100.00 and the maximum is $800.00 per quarter. The amount awarded is determined by several factors including the student’s performance, the amount requested, the number of classes being taken by the student and the number of applications received in total. Grants do not require repayment. Applications for grants must be submitted each quarter.
Grants-in-aid (Work Study) are awarded to students in need of financial assistance who are willing to perform work assignments on the campus. There is no cash payment for grants-in-aid; instead, the students receive credit on their accounts. To qualify for a grant-in-aid students must perform their duties satisfactorily and maintain a cumulative grade point average of 2.0 for undergraduates and a 3.0 for graduate students. The amount awarded is determined by the number of hours worked and the type of work being performed. Grants-in-aid do not require repayment and are only monies applied directly to a student’s account.
The selection of financial aid recipients is made by a committee each quarter. Applications for financial assistance should be addressed to the ICCI Financial Aid Committee on a quarterly basis and received by the Business Office not later than two weeks before the start of each quarter. Applications are available from the Business Office or online at www.icci.edu.ky in the Financial Assistance section of the website.
The College is not currently participating in US federal and state financial aid; however, the College has been approved by the United States Veterans Administration as an institution of higher education for enrollment of eligible veterans to receive funds for education.
Invoices will be issued at the beginning of each quarter. Payment is expected in full once the invoice has been issued (unless a student has a scholarship or sponsorship). If payment cannot be made in full at the start of the quarter, a payment plan must be requested and approved by the Business Office. Statements will be sent via email several weeks into the quarter. All accounts with unpaid balances at week 2 of the quarter will receive a $25 late fee / installment fee, regardless of whether a payment plan has been established.
All students’ accounts are due and payable at the time such charges are incurred. College regulations prohibit registration, class attendance, graduation, granting credit, taking of final examinations, or release of grades or transcripts for students whose accounts are delinquent.
The charges for tuition, laboratory fees, service charges and all other charges made by the College are called fees and all students are expected to understand the fee policy of the College according to this statement and abide by it. Payment for textbooks must be made upfront at the time of purchase.
All students who are sponsored by a company must provide the Business Office with a letter stating the student’s name and the fees that will be covered. Invoices will be issued to the student and it is the student’s responsibility to submit the invoice for payment. For those students on Government Scholarships, ICCI will coordinate directly with the Education Department regarding payment. The student is responsible for all charges above and beyond that which is covered by the government scholarship and must keep their account current in accord with school policy.