Lake Forest MBA Tuition & Payment Terms
If you have questions about LFGSM tuition or payment terms, go here to contact Sandy Turkington, LFGSM Student Accounts Manager.
Tuition for Students and Alumni
LFGSM tuition for the 2008 - 2009 academic year is $2,700 per full course unit and $1,350 per half course unit. Our alternate delivery elective courses and some International Management Specialization courses require additional fees.
Tuition is due by the first session of a course. Exceptions are for new students' first class and for those students receiving tuition reimbursement.
LFGSM Alumni receive a special rate of 50% off the course tuition, excluding the international study courses and alternate delivery courses mentioned above.
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Tuition for Global Business and the Global Business Tuition Billing Option
The tuition for the Global Business Specialization courses 5848 and 5849 is equivalent to the tuition for the general management MBA. The tuition for Global Practicum courses 5840, 5841, and 5842 is higher than the tuition for the general management MBA. Additional fees are included for in-country programs, seminars, on-site visits, lodging, and all course materials. Airfare is additional.
Students are encouraged to participate in the global business tuition billing option. If you know that you will participate in one or more Global Practicums, or even think that you might, we highly recommend pursuing this option beginning with your first MBA course.
The tuition billing option allows you to financially manage the incremental cost more easily by allocating it over some or all of your 16 MBA course units. This option may be selected at any time during the LFGSM MBA program. Choose this option early, and the additional cost may be allocated over more courses.
Note: Course 5842 Global Practicum: Latin America cannot be funded under this option.
For more information regarding LFGSM's Global Business opportunities, go here to contact Erica Wilke, LFGSM Assistant Dean.
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Billing and Payment Timing for New and Continuing Students
New students have a one-month billing "grace period" for their first term upon enrollment. The amount due, less the student’s non-refundable $100 enrollment deposit, is due upon receipt of the invoice. Electronic billing occurs around the 15th of each month.
Continuing students are invoiced two to three weeks prior to the beginning of a term. Payment is due upon the start of the first class. Students may access savvyWORKS, LFGSM’s secure student administrative web site to: pay their tuition, view their account history, print statements and receipts, check loan information, or to contact the LFGSM Business Office.
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Payment Terms and Methods, Carrying Charges, Penalties, and Financial Arrangements
Students are responsible for the payment of tuition whether it is paid by the individual or reimbursed by the student's employing organization through Employer Tuition Reimbursement.
Deferment fees per course are assessed monthly and average three charges per term. These fees are equivalent to 9% per annum and will be assessed on any student accounts outstanding for more than 30 days. Students in arrears for more than 90 days will not receive their grades nor be permitted to enroll for subsequent courses until the entire balance is paid. Diplomas and transcripts are not released until all accounts are settled in full.
Tuition payments may be made by check, credit card, or direct debit. Check payments may be made at any LFGSM campus location or sent via U.S. mail. LFGSM accepts the following credit cards: Visa, MasterCard, and Discover Card. Credit card payments may be made through savvyWORKS, LFGSM's secure student administrative web site, or by calling the credit card payment line at 847.574.5238.
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Employer Tuition Reimbursement Qualifications, Payment Terms, and Finance Fees
If your employer offers it, Employer Tuition Reimbursement can be a very helpful option. To learn more about Employer Tuition Reimbursement, go here.
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Tuition Credits and Refunds
A tuition credit or refund will be issued to a student who provides written notification to the LFGSM Registrar of withdrawal from a course. The tuition credit or refund will be made according to the following schedule:
Schedule for 10 Week Course Credit/Refund
| If you withdrew prior to: |
Your credit/refund will be: |
| Second class session of term |
90% of tuition, less $50 administrative charge |
| Third class session of term |
80% of tuition, less $50 administrative charge |
| Fourth class session of term |
70% of tuition, less $50 administrative charge |
| Fifth class session of term |
60% of tuition, less $50 administrative charge |
| Sixth class session of term |
0% of tuition |
Schedule for 5 Week Course Credit/Refund
| If you withdrew prior to: |
Your credit/refund will be: |
| Second class session of term |
80% of tuition, less $50 administrative charge |
| Third class session of term |
60% of tuition, less $50 administrative charge |
| Fourth class session of term |
0% of tuition |
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