At Phase3 we use Tuition Bases to enable families to plan their education budgets years in advance. Let’s use Katie as an example. Katie is a vivacious 3 year old that will be 3½ at the start of the 2019-2020 school year.
In 2019-2020 Katie (3 ½) enters the Primary ½ Day Program. Because she enrolled in the school in the 2019-2020 school year, Katie has a 2019-2020 Tuition Base. For the first year, Katie’s tuition is $ 9,075 per Academic Year (See Schedule 1 below).
Schedule 1 (Primary: ½ Day)
|
2019-2020 |
2020-2021 |
2021-2022 |
2022-2023 |
2023-2024 |
2024-2025 |
2019-2020 Base |
$ 9,075 |
$ 9,166 |
$ 9,257 |
$ 9,350 |
$ 9,443 |
$ 9,538 |
2020-2021 Base |
|
$ 9,983 |
$ 10,082 |
$ 10,183 |
$ 10,285 |
$ 10,388 |
In 2020-2021, Katie (now 4 1/2) becomes a full day Primary student. Her 2019-2020 Tuition Base means that her annual tuition is $ 11,488, which is what a Primary student with a Tuition Base of 2019-2020 would pay in the 2020-2021 school year (See Schedule 2 below).
Schedule 2 (Primary: Full Day)
|
2019-2020 |
2020-2021 |
2021-2022 |
2022-2023 |
2023-2024 |
2024-2025 |
2019-2020 Base |
$ 11,374 |
$ 11,488 |
$ 11,603 |
$ 11,719 |
$ 11,836 |
$ 11,954 |
2020-2021 Base |
|
$ 12,511 |
$ 12,637 |
$ 12,763 |
$ 12,891 |
$ 13,019 |
In 2021-2022, Katie (now 5 1/2) enters her last year of Primary. Her 2019-2020 Tuition Base translates into an annual tuition of $ 11,603 — 1% higher than the year before. Toward the end of the school year, Katie’s parents learn that Katie is ready to move up to Lower Elementary.
2022-2023 is a big year for 6 1/2 year old Katie. She is now in Elementary School. As before, her Tuition Base is 2019-2020. This means that Katie’s family would pay $ 11,968 for the 2022-2023 school year. This amount would increase 1% every year after that. In 2023-2024 her tuition would be $ 12,088 and it 2024-2025 it would be $ 12,209. (See Schedule 3 below)
Schedule 3 (Lower Elementary)
|
2019-2020 |
2020-2021 |
2021-2022 |
2022-2023 |
2023-2024 |
2024-2025 |
2019-2020 Base |
$ 11,616 |
$ 11,732 |
$ 11,849 |
$ 11,968 |
$ 12,088 |
$ 12,209 |
2020-2021 Base |
|
$ 12,778 |
$ 12,905 |
$ 13,034 |
$ 13,165 |
$ 13,296 |
In Upper Elementary, Katie’s tuition would continue increase at a very predictable 1% per year.