Peng is an applicant from China and has been awarded a scholarship by the LSE, the Scholarship will only cover 50% of the tuition fees for his programme. Peng would like to pay the remaining balance of his fees in instalments across the duration of the academic year.
Peng wants to make a payment in RMB (Renminbi) which will be converted and settled in GBP (Pounds Sterling) on his fees account at the LSE.
Additionally, Peng would like to use a payment service(ChinaPay) that he is familiar with but is unsure if the LSE offer this service.
The Solution
The Financial Support Office will transfer Peng's LSE award within 7-10 days of registration. Financial awards made by LSE are put towards fees for the year, and the balance of the fees are paid by the student.
As the LSE award does not cover Peng's full tuition, he will be automatically placed on a termly payment plan. Peng can access the payment plan via the Finance Hub, he can also view his LSE scholarship and track the balance due for future instalments
The LSE partner with WUBS to offer a wealth of APMs (Alternative Payment Methods) including RMB via ChinaPay.
The School would recommend reading the helpful My LSE Finance Guide which clearly outlines payment services and supported currencies.