THE 2008 CONTRIBUTIONS PROCESS

Under section 24 of the ESOS Act 2000 (the Act) registered providers are required to pay an annual contribution to the ESOS Assurance Fund unless exempt [see section 24(2)]. This year, in order to begin the process of calculating 2008 contributions, the Fund Manager will send out a Request for Information (RFI) on 22 February 2008.

For the 2008 contributions process, registered providers will be required to submit their information electronically through PRISMS by accessing the Declaration of Overseas Fee Income link below. This is the same process as followed in 2007 and submissions close 5pm EDST Thursday, 20 March 2008..

The 2008 RFI will require providers to complete and submit an electronic declaration of their estimated overseas student fee income for the period 1 January 2008 - 31 December 2008 together with their actual overseas student fee income for the period 1 January 2007 - 31 December 2007.

Once this information has been collected, the Fund Manager will determine each provider’s annual contribution and issue the appropriate invoices by e-mail. Providers are requested NOT to forward payments for their 2008 contributions until they have received an e-mail containing their contribution invoice from the Fund Manager. It is anticipated that contribution invoices will be issued by late March 2008.

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