Banking and Finance BSc (Hons) 2021/22 entry

Course code:

N310

Study options:

3 years full-time
4 years sandwich
6 years part-time

Location:

Coventry University

Starting:

September 2021

 

Fees:

2021/22 fees TBC*
2020/21 fees - £9,250

Find out more

Faculty:

Get in touch

For questions regarding study and admissions please contact us:

+44 (0) 24 7765 2222
ukadmissions@coventry.ac.uk

Course code:

N310

Study options:

3 years full-time
4 years sandwich
6 years part-time

Location:

Coventry University

Starting:

September 2021

 

Fees:

2021/22 fees TBC*
2020/21 fees - £9,250

Find out more

Faculty:

Get in touch

For questions regarding study and admissions please contact us:

+44 (0) 24 7765 2222
ukadmissions@coventry.ac.uk

Course code:

FBLU039 

Study options:

3 years full-time
4 years sandwich
6 years part-time

Location:

Coventry University

Starting:

September 2021

 

Fees:

2021/22 fees TBC*
2020/21 fees - £13,900

Find out more

Faculty:

Get in touch

For questions regarding study and admissions please contact us:

+44 (0) 24 7765 2222
ukadmissions@coventry.ac.uk

Overview

If you’re interested in a potential future career in the fast-paced banking and financial sector, a course in Banking and Finance could provide you with the opportunity to learn the skills needed to succeed.

Over the past ten years, the scale and importance of the banking industry to the global economy has grown – with a 2018 report showing the world’s top 1000 banks now hold $123.7 trillion in assets, up from $96.4 trillion ten years ago. Such growth requires an increase in talent, with the City of London, home to many of the UK’s largest banks, predicting a 34% growth in jobs in the next 30 years.

Our BSc Banking and Finance course has been designed to help meet this need by focusing on your potential future employability. Not only will you have the opportunity to study modules specifically related to banking, such as Banking Regulation, Principles of Banking and Risk Management in Banking, upon successful completion of the course you will also gain applied knowledge in the areas of economics, finance and accounting, which should help to prepare you to enter the banking and finance industry upon graduation.

Studying with us also allows you to benefit from the support offered by our employability team and the experience you can gain on our industry-standard Trading Floor, which allows you to explore putting theory into practice, and also offers the opportunity to study towards a professional Bloomberg certification (subject to availability).

Why Coventry University?

An award-winning university, we are committed to providing our students with the best possible experience. We continue to invest in both our facilities and our innovative approach to education. Our students benefit from industry-relevant teaching, and resources and support designed to help them succeed. These range from our modern library and computing facilities to dedicated careers advice and our impressive Students’ Union activities.

To ensure an optimised and continual student experience, the university may deliver certain contact hours and assessments via emerging online technologies and methods across all courses.

Global ready

An international outlook, with global opportunities

Employability

Career-ready graduates, with the skills to succeed

Teaching Excellence

Taught by lecturers who are experts in their field

Course essentials

A degree which offers you more, at no extra cost

Accreditation and Professional Recognition

This course is accredited and recognised by the following bodies:

Chartered Association of Business Schools (CABS)

Chartered Association of Business Schools (CABS)

Coventry Business School is currently an active member of the Chartered Association of Business Schools, which has a membership of over 120 business schools and higher education providers, and supports its members in maintaining world-class standards of teaching and research.


European Foundation for Management Development (EFMD)

European Foundation for Management Development (EFMD)

European Foundation for Management Development (EFMD) – Coventry Business School is currently an active member of the European Foundation for Management Development, a global membership organisation dedicated to management development, covering over 900 members across 91 countries. Coventry Business School is recognised by the above memberships for the 2021/22 intake. There is currently no intention for either of these memberships to lapse however if either of these memberships were not to be renewed we would notify applicants and students as soon as possible.

Our Facilities

Lecture talking to student in the trading floor

Trading Floor

Students have opportunities to practice simulated trading and other finance-related activities using the various types of demo software available in the Trading Floor.

Business Simulation Suite

Business Simulation Suite

Coventry Business School's Business Simulation Suite utilises the latest business simulation software to give students the opportunity to improve their business skills.

DigiComm Lab Seating Area

DigiComm Lab

Designed to build creative minds, the DigiComm Lab is equipped with the latest industry-standard marketing and advertising software and devices to support your creative development.

Course information

A key feature of this course is its applied nature, which makes use of related case studies, databases and software throughout core banking modules and relevant financial, economics and accounting modules. By covering this range of areas, you will have the opportunity to gain a breadth of knowledge, which will not only be applicable to the banking sector, but also to roles in financial institutions or wider finance-related fields.

To help develop skills and knowledge of the banking sector, throughout this course you will have the opportunity to study modules which specifically relate to the banking industry. In your first year, Introduction to Banking allows for an overview of the topic, which is further developed throughout your course by modules focused on contemporary issues within the sector, such as the regulation of banks, risk management within banking, and corporate governance and ethics. Such modules present you with the opportunity to understand the key current issues in the sector, while also providing the chance to explore a variety applied techniques and skills within banking.

Alongside banking, you will have the opportunity to gain a wider breath of knowledge, covering key topics within finance, accounting and economics. In your first year, you will have the opportunity to study modules on the Fundamentals of Finance, as well as Mathematical Techniques for Finance and Statistical Analysis for Finance. These modules should help to develop your ability to interpret finance-related data, to understand the function of financial markets, and to apply appropriate financial techniques to a range of banking related issues. Throughout the course, you will have the opportunity to study an Introduction to Econometrics module which should allow you to understand how statistical methods work. 

Knowledge should also be built through exposure to case studies, software and databases which are of particular relevance to the banking sector. This hands-on approach is further enhanced through our student’s access to Coventry Business School’s Trading Floor, currently one of the largest academic Trading Floors in Europe. The Trading Floor is equipped with industry standard tools such as Thomson Reuters Eikon and Bloomberg, and by using such industry recognised software, you have the opportunity to enhance your potential future employability – and there is also the opportunity to gain the Bloomberg Market Concepts Certificate, on successful completion of a short course (subject to availability).

Course Specification
Download PDF

Modules

Overview

In your first year you will have the opportunity to develop core skills and knowledge within finance, as well as studying an overview of the banking sector.

Modules

  • Mathematical Techniques for Finance

  • Financial Accounting Foundation

  • Fundamentals of Finance

  • Academic and Professional Skills in Finance

  • Introduction to Banking

  • Statistical Analysis for Finance

  • Add+vantage Module

Add+vantage

The focus on preparing students for successful futures sets Coventry apart as a university.

The Add+vantage modules teach a range of work experience and extra-curricular activities that are taken each year, and broaden students knowledge and skills within a work focused environment. There is a very wide range of Add+vantage free-choice subject areas, and they are arranged in themes.

Overview

In your second year you will have the opportunity to enhance your skills in finance topics, and the chance to gain an understanding of financial markets and learn about specific topics within banking.

Modules

  • Banking Regulation

  • Principles of Banking

  • Employability Skills in Finance 1

  • Principles of Finance

  • Financial Markets and Institutions

  • Introduction to Econometrics

  • Add+vantage Module

Add+vantage

The focus on preparing students for successful futures sets Coventry apart as a university.

The Add+vantage modules teach a range of work experience and extra-curricular activities that are taken each year, and broaden students knowledge and skills within a work focused environment. There is a very wide range of Add+vantage free-choice subject areas, and they are arranged in themes.

Overview

After the second year, you have the option of taking an optional year on an industrial placement or spending 12 months studying abroad* to broaden your international perspective.

A placement* provides an excellent opportunity to obtain appropriate discipline-specific work experience on a much more significant scale than vacation or part-time work, while a study abroad year can help you to explore living and working in different cultural contexts.

If you wish to undertake the optional study abroad/placement year*, you will take either the Placement Year module or the Study Abroad Year module which both typically run for a full academic year between years 2 and 3 of your course. You are able to progress onto the relevant module if you have successfully completed the first two years of the course (i.e. having accumulated 240 credits) and have a confirmed opportunity two weeks prior to the start of the academic year, however we encourage international students to confirm their placements earlier to ensure they are able to meet any applicable visa requirements.

Students opting for either the work placement or study abroad module* will be registered on a non-credit bearing module and therefore no additional tuition fees apply. While the modules do not bear credits, they do require completion of a marked assessment reflecting on your placement/study abroad or work placement experience. Following successful completion of this assessment, the module selected will appear on your final academic transcript. Students will thus graduate with 360 credits in total, assuming successful completion of their final year.

*Please note that we are unable to guarantee any internships, placement or study abroad opportunities and that all such opportunities may be subject to additional costs (e.g. travel, visas and accommodation etc.), competitive application, availability and/or meeting any applicable visa requirements. To ensure that you fully understand the requirements in this regard, please contact the International Office for further details if you are an EU or International student.

Modules

Add+vantage

The focus on preparing students for successful futures sets Coventry apart as a university.

The Add+vantage modules teach a range of work experience and extra-curricular activities that are taken each year, and broaden students knowledge and skills within a work focused environment. There is a very wide range of Add+vantage free-choice subject areas, and they are arranged in themes.

Overview

In the final year of the course you will have the opportunity to gain deeper insight into contemporary topics within banking, as well as applying the knowledge you have learnt through the Applied Banking Case Studies and Project modules. Optional modules include those focused on managing portfolios and analysing investments.

Modules

  • Risk Management in Banking

  • Employability Skills in Finance 2

  • Project

  • International Financial Market

  • Applied Banking Case Studies

  • Add+vantage Module

  • Optional Modules

    Choose one from the following modules:

    • Applied Econometrics
    • Corporate Governance and Business Ethics
    • Investment Analysis
    • Portfolio Management

Add+vantage

The focus on preparing students for successful futures sets Coventry apart as a university.

The Add+vantage modules teach a range of work experience and extra-curricular activities that are taken each year, and broaden students knowledge and skills within a work focused environment. There is a very wide range of Add+vantage free-choice subject areas, and they are arranged in themes.

We regularly review our course content, to make it relevant and current for the benefit of our students. For these reasons, course modules may be updated.

In more detail...

  • The opportunity to increase your potential future employability with the chance to gain hands on experience of market leading financial databases such as Thomson Reuters Eikon, Bloomberg, Fitch Connect, Thomson Reuters Datastream, and Bureau van Dijk Fame.
  • Access to Coventry Business School’s Trading Floor, which features 42 dual-screen Bloomberg terminals
  • Opportunity to obtain a professional Bloomberg certification (the Bloomberg Market Concept Certificate) through an e-learning course delivered through the Trading Floor (subject to availability).
  • Bespoke employability modules, Employability Skills in Finance 1 and 2, are designed to help you as you apply for internships, placements* and graduate jobs in the banking and finance sector.
  • Support from our employability team who offer support and guidance to help you secure placements* and graduate jobs, including mock interviews and CV workshops.
  • Modules focused on key topics within the banking industry, giving you the opportunity to understand contemporary issues related to the sector.
  • Opportunity to study an Add+vantage module each year; allowing you to specialise in a subject not related to banking or finance, such as a language, giving you that added extra when applying for jobs in an international industry.
  • Guest lectures and sessions from the banking industry, alongside course input from leading financial organisations such as CFA UK and CII (subject to availability).
  • Access to Coventry Business School’s Progress Coaches, who can support your progress throughout your course.
  • *Please note that we are unable to guarantee any placement, graduate scheme, or study abroad opportunities and that all such opportunities may be subject to additional costs (e.g. travel, visas and accommodation etc.), competitive application, availability and/or meeting any applicable visa requirements. To ensure that you fully understand the requirements in this regard, please contact the International Office for further details if you are an EU or International student.

Our main study themes are: 

  • Financial markets and financial principles – Aims to develop your knowledge of the function of financial markets, banks and other financial institutions along with an understanding of contemporary financial principles and theories.  
  • Understanding and using financial data – Giving you the opportunity to locate, extract and interpret finance-related data, and the chance to apply appropriate financial, theoretical, quantitative and evaluation techniques to a range of banking and finance related issues.
  • Professional, ethical and regulatory issues in banking – Gives you the opportunity to gain a deep understanding of the professional, ethical and regulatory issues relevant to banks and other financial institutions in a local, national and global context. 
  • Personal employability and industry skills – Provides you with the opportunity to develop key competencies required in any future career in the sector, namely numeracy, communication, information literacy, independent thought, creative problem-solving, analysis and sustainable conduct.

This course is available on a three-year full-time basis or a four-year basis, where between Years Two and Three there is one year of supervised work experience or a 12-month period studying abroad*. The Faculty’s employability team, the Talent Team, will support you in finding a suitable placement*, preferably in an accounting or finance-related position in a private, public or charitable organisation. 

The course can also be studied part-time, over six years. Find out more information on part-time study, including how to contact us directly to discuss how this course will be structured if you choose to take it on a part-time basis.

We seek to teach our courses through a variety of different methods, to help promote inclusive learning for all students. These methods include lectures, seminars, the use of case studies, guest lectures, digital media, flipped classroom teaching (whereby content is delivered online, outside of the classroom) and specialist training on financial databases such as Bloomberg Terminal, Fitch Connect, Thomson Reuters Datastream and Bureau van Dijk Fame. There is also the chance to produce a Project in your final year, which you will undertake with support from a tutor.

Where possible, we look to help you understand how what you have learnt relates to ‘real-world’ situations. For example, the module Applied Banking Case Studies requires you to apply the theories and concepts that should have been learnt throughout the course to actual situations faced by the banking industry, with the situations selected to reflect contemporary issues, such as ethics or the internationalisation of financial markets.

Where appropriate, you will be required to work in groups alongside others on the course, to help develop your skills in communication, leadership and negotiation, alongside the core content of modules.

*Please note that we are unable to guarantee any internships, placement or study abroad opportunities and that all such opportunities may be subject to additional costs (e.g. travel, visas and accommodation etc.), competitive application, availability and/or meeting any applicable visa requirements. To ensure that you fully understand the requirements in this regard, please contact the International Office for further details if you are an EU or International student. 

Coventry University aims to ensure that its courses are fairly assessed and endeavours to monitor student progression towards achieving the learning outcomes.  

Assessments may include exams, individual assignments or group work elements, some of which will have been designed to be professionally relevant – for example, within the module Academic and Professional Skills in Finance, a group assessment will be conducted based around using professional financial databases, which could mirror work that may be conducted during any potential future career in the sector.  

On completion of this degree, you should will able to: 

  • Develop a key understanding of appropriate policies for banks at the corporate level that are informed by relevant research, theories and empirical evidence as well as the relevant institutional, regulatory and ethical background  
  • Understand how banks and other financial institutions operate within the different global, political, financial and legal contexts, considering the recent advancement in banking technology.  
  • Evaluate critically the advantages of diverse theoretical and empirical approaches for addressing financial problems in the global context.   
  • Conduct goal-oriented research using financial modelling and analytical tools and a range of banking and finance related materials including journals, books and online resources, so as to resolve important banking and finance issues. 
  • Demonstrate digital literacy by using information, communication and digital technologies in solving different financial problems.  
  • Make appropriate decisions considering practical issues which confront modern banking and understand the importance of ethics in banking and financial decisions.  
  • Develop professional, intercultural and self-regulatory capabilities applicable to an increasingly global workplace, and be able to communicate effectively both independently and within teams by employing a variety of conventional and digital capabilities appropriate to diverse audiences.  
  • Understand the concept of risk in finance and the importance of risk management in resolving finance issues as well as important factors influencing the investment behaviour of firms. 

We set out below the typical teaching contact hours that you will receive on this course. Teaching contact hours will vary in different years of study and may vary due to module selection. In addition to the contact hours below, we offer the opportunity to attend additional optional sessions, including sessions with the Faculty’s progress coaches, or to meet with staff during their advice and feedback hours. 

Within your first and second year, you will have around 12 contact hours of teaching a week which includes: 

  • Medium group teaching: practical classes, workshops or seminars each week. 
  • Large group teaching: lectures each week.

In your final year, if you are undertaking a project/dissertation, there is a greater emphasis placed on independent study and therefore total contact hours may be reduced.   
In addition, you will be expected to undertake a significant amount of self-directed studying and revising in your own time each week, which may include, for example, guided study using hand-outs or online activities. 

We recognise the difference that both work and an international experience* can make to your potential future career. All of our undergraduate courses are designed to enable you to take an additional optional year either on placement in the UK or abroad or studying abroad*(fees may apply).

Additionally, given the nature of the financial and banking sector, which is highly interconnected at an international level, the majority of modules taught on this course seek to discuss topics from an international perspective.

*Please note that all international experience opportunities are subject to competitive application, availability, visa requirements and additional costs may apply.

Global ready

Did you know we help more students travel internationally than any other UK university according to data from the experts in higher education data and analysis, HESA?

In 2018/19, we provided a total of 5,469 experiences abroad that lasted at least five days.

Much of this travel is made possible through our Global Leaders Programme, which enables students to prepare for the challenges of the global employment market, as well as strengthening and developing their broader personal and professional skills.

Explore our international experiences

1st for

international experiences

Sending more students overseas than any other UK uni in 2016/17


5,469

Student experiences

The number of student trips abroad for at least 5 days in 2018/19


12,000

and counting

The number of students we’ve helped travel internationally since 2016


12

global programmes

As well as trips, we offer other opportunities like language courses

Entry Requirements

University Course Code: FBLU039
A Level BTEC IB Diploma GCSE requirement
ABB-BBB DDM 30-31 points Minimum 5 GCSE's graded 9-4 / A* - C including Maths and English.

A-Levels 

A-Level applicants are required to have three A2 Levels. Coventry University may include AS grades within an offer for certain courses, but we are not able to accept two AS Levels in place of one A2 Level. In some courses it may be necessary for entrants to have passed specific A2 Levels in nominated subjects. Please see the course pages for more information. 

Access Diplomas 

The Access to HE Diploma to include 30 Level 3 credits at Merit. Plus GCSE English Language and Mathematics at grade A*-C. 
Coventry University welcomes applicants who have completed, or who are studying, the Access to HE Diploma developed by the Quality Assurance Agency for Higher Education (QAA). Successful completion of the course will require you to gain 60 credits with at least 45 to be achieved at Level 3 (with the remainder at Level 2). In some cases we will require you to have gained Merit or Distinction grades in a number of units or in nominated subjects. For more information on the entry requirements for your chosen course please see the relevant course pages. 

BTEC Level 3 Diplomas 

The University will accept the BTEC Level 3 Extended Diploma for entry to most courses. In some cases we will require applicants to have studied either certain named modules or a specific named Diploma. The appropriate course page will have full information on the entry requirements. The University also accepts the BTEC Level 3 Subsidiary Diploma and BTEC Level 3 Diploma for entry to degree programmes, provided that they are studied in combination with other qualifications that provide a total volume of study that is equivalent to three A2 Levels. For example, you could be studying a BTEC Level 3 Diploma plus an A2 Level, or a BTEC Level 3 Subsidiary Diploma plus two A2 Levels. Where a specific A2 or BTEC subject is required for entry then you must be offering this as part of your combination of qualifications. 

Please visit our page on European entry requirements for more information about specific country information.

Following the UK’s exit from the European Union, EU students should be aware that there may be a change to UK laws following the UK’s exit, this may change their student status, their eligibility to study part time, and/or their eligibility for student finance amongst other things. We will act in accordance with the UK’s laws in force from time to time.

English as a Foreign Language An IELTS of 6.0 overall. Pre-sessional English is available if required.

Our International Student Hub offers information on entry requirements for your country, as well as contact details for agents and representatives should you need more advice.

More detail

Select your region to find detailed information about entry requirements:

English as a Foreign Language An IELTS of 6.0 overall. Pre-sessional English is available if required.

Our International Student Hub offers information on entry requirements for your country, as well as contact details for agents and representatives should you need more advice.

More detail

Tuition Fees

We pride ourselves on offering competitive tuition fees which we review on an annual basis and offer a wide range of scholarships to support students with their studies. Course fees are calculated on the basis of what it costs to teach each course and we aim for total financial transparency.

For more information, please visit our Finance pages.

Starts

Fee


September 2021

2021/22 fees TBC*
2020/21 fees - £9,250 (per year)


Scholarships

If you're a truly outstanding undergraduate candidate we may be able to offer you a Coventry University Scholarship.

Coventry University Scholarships are awarded to recognise truly exceptional sports achievement and academic excellence.

Starts

Fee


September 2021

2021/22 fees TBC*
2020/21 fees - £9,250 (per year)


Scholarships

If you're a truly exceptional candidate we may be able to offer you a Coventry University Scholarship. Coventry University Scholarships are awarded to recognise truly exceptional achievement and academic excellence.

Starts

Fee


September 2021

2021/22 fees TBC*
2020/21 fees - £13,900 (per year)


Scholarships

If you're a truly exceptional candidate we may be able to offer you a Coventry University Scholarship. Coventry University Scholarships are awarded to recognise truly exceptional achievement and academic excellence.

Course essentials at no extra cost

We're committed to communicating study costs clearly to make sure you're not faced with having to make any unexpected payments.

This is why our ‘Flying Start’ package provides you with a few course essentials. Your full-time fee for an undergraduate degree will cover the following:

UK field trips

Any mandatory site visits and trips within the United Kingdom.

Key material

This can include core textbooks, software and equipment.

Laser prints

1,000 A4 sides of black and white laser printing credits per year.

Optional year

Pay no tuition fees for optional work placements or study abroad trips.

This course may incur additional costs associated with any field trips, placements or work experience, study abroad opportunities or any other opportunity (whether required or optional), which could include (but is not limited to), equipment, materials, bench fees, studio or facilities hire, travel, accommodation and visas).

EU student fees

EU nationals starting in the 2020/21 academic year remain eligible for the same fees as home students and the same financial support. Financial support comes from Student Finance England, and covers undergraduate and postgraduate study for the duration of their course, providing they meet the residency requirement.

For tuition fee loans

EU nationals starting in the 2020/21 academic year must have resided in the European Economic Area (EEA) or Switzerland for the three years prior to the start of their course. The purpose of that three year residency should not have been mainly for the purpose of receiving full time education.

For maintenance loans

EU nationals starting in the 2020/21 academic year must have resided in the UK and Islands for the five years prior to the start of their course. The purpose of that five year residency should not have been mainly for the purpose of receiving full time education.

Career prospects

Graduate Immigration Route visa

Based on current information from the UK Government, international students whose study extends beyond summer 2021 may be eligible for a visa under the UK Government’s Graduate Immigration Route, which will enable students to stay and work, or look for work, in the UK at any skill level for up to two (2) years. Check the most up to date guidance available to check your eligibility and any updates from the UK Government before making an application or enrolment decision.

The skills and attributes you should develop throughout this course should enable you to pursue potential future career options in the banking and financial sectors, in roles within organisations such as investment banks, commercial banks, or hedge funds. In addition, the knowledge and skills you should learn through the financial modules studied should also support potential future career options in financial services firms. Our Business School employability team are on hand to offer advice, employment opportunities, CV/personal statement checks and placement advice, as well as hosting an annual Employment Fair, dedicated to students studying Business and Law courses.

Employability skills are incorporated within the course through specific modules, with Employability Skills in Finance 1 and 2 focusing on internship or placement applications* and graduate scheme applications respectively.

We also welcome guest speakers from the banking industry for lectures or employability events – 2019’s Careers in Banking event saw attendees from the Bank of England, Barclays and Deutsche Bank provide advice and answer questions on potential future career options in the sector (subject to availability).

Coventry University is committed to preparing you for your future career options and giving you a competitive edge in the graduate job market. As well as the support available through the Business School’s employability support team, the University's Careers and Employability team provide a wide range of support services to help you plan and prepare for your potential future career, including a regular series of employer events.

*Please note that we are unable to guarantee any placement, graduate scheme, or study abroad opportunities and that all such opportunities may be subject to additional costs (e.g. travel, visas and accommodation etc.), competitive application, availability and/or meeting any applicable visa requirements. To ensure that you fully understand the requirements in this regard, please contact the International Office for further details if you are an EU or International student.

Disclaimer

By accepting your offer of a place and enrolling with us, a Student Contract will be formed between you and the university. A copy of the 2020/21 Contract can be found here. The Contract details your rights and the obligations you will be bound by during your time as a student and contains the obligations that the university will owe to you. You should read the Contract before you accept an offer of a place and before you enrol at the university.

The tuition fee for the course that is stated on the course webpage and in the prospectus for the first year of study will apply. We will review our tuition fees each year. For UK and EU students, if Parliament permit an increase in tuition fees, we may increase fees for each subsequent year of study in line with any such changes. Note that any increase is expected to be in line with inflation. Following the UK’s exit from the European Union, EU students should be aware that there may be a change to UK laws following the UK’s exit, this may change their student status, their eligibility to study part time, and/or their eligibility for student finance. We will act in accordance with the UK’s laws in force in relation to student tuition fees and finance from time to time.

For International students the tuition fee that is stated on the course webpage and in the prospectus for the first year of study will apply. We will review our tuition fees each year. For international students, we may increase fees for each subsequent year of study but such increases will be no more than 5% above inflation.