Shelly have signed up for Full Stack Academy Program which cost IDR 44,000,000 (including Tax of 10%). The deposit fee is 10% of the total amount excluding the Tax. The student has paid the Full Stack Academy Program fee to the school in full (IDR 44,000,000) through bank transfer on the day of the signing of the Academy Enrollment Agreement which is July 1st. The program is scheduled to start July 7th.
Shelly decides to withdraw 5 days after signing the Academy Enrollment Agreement on July 6th due to unforeseen circumstances and requested for a refund. Note that the program has not yet started but the Enrollment Withdrawal Period has passed (within 2 days after the Academy Enrollment Agreement signed). The following is an illustration of how we would calculate the total amount of refund based on the schedule above:
- Step 1, calculate the school fee excluding Tax: IDR 44,000,000 – (10% tax) = IDR 40,000,000
- Step 2, calculate the fee to school that is not refundable: 50% x IDR 40,000,000 = IDR 20,000,000
- Step 3: calculate the total amount to be refunded to student: IDR 40,000,000 – IDR 20,000,000 = IDR 20,000,000
Therefore, the total amount of refund the student is eligible to receive is IDR 20,000,000. The amount will be transferred to the student’s bank account within 30 working days from the date of when the school receives the withdrawal request.