RTS BLOG

Financial

28 July 2020, Emil Spago

The thing is that because of the pandemic both us, me and my husband, are in a
complicated financial situation as our incomes depend on a regularly working society.
Could this be taken into account in any way? Is there a possibility of a student loan or some kind of payment in several phases?

The College offers payment in up to three installments (August, December, March). In specific circumstances, the College can offer delayed payments and payments in more installments. However, the full fee needs to be paid by the end of the school year.

We’re interested about what’s not covered by the scholarship, (e.g. school material,
medicine, meals, house keeping material, etc.).

Not covered by scholarship: residence permit fee, damage fee, pocket money, travel cost, personal items (clothing, laptops), non IB examination and test fees (e.g. SAT).

Right now the kids are “minors” (at least in our country they should be older than 18),
we’re wondering a safe way for transferring money to him (maybe a credit or debit card),
what is your recommendation?

The best is if the student can have the card to be able to withdraw the money in Mostar. It is possible for minors also to open bank account here but it is lengthy process as that cannot be done before the residence permit is issued (takes up to 3-4 months).

Are there any mandatory fees outside the tuition?

Yes, residence permit fee of 150 Euros and damage fee of 25 Euros need to be paid upon arrival in cash.

Do students open bank accounts in Mostar?

Answered under financial – 3

Is Euro accepted? Should our kids have a card to use?

It is possible to exchange Euros, but all the transactions are made in local currency – convertible mark KM.

What is a reasonable monthly allowance for a student in Mostar?

75 Euros

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