Regents Academy

2008 – 2009 TUITION POLICY

Guidelines:

The following process is to be followed in the collection of tuition, in determining appropriate amount of tuition due, discounts, refunds and the assessment of late fees.

Tuition rates : are as follows.

Full day Kindergarten	$360/month or $3,240/year.
Grades 1 st thru 6^th	$400/month or $3,600/year.
Grades 7^th & 8^th	$450/month or $4,050/year.
Grades 9^th thru 12^th	$500/month or $4,500/year.

Supply and Book Usage Fee

A non-refundable supply and book usage fee is due with registration.

Kindergarten	$ 50
Grades 1 st thru 6^th	$ 100
Grades 7^th thru 12^th	$ 200

New Student Application Fee :

A non-refundable “New Student” application fee of $50 ($100 max/family) is required with all “New Student” applications to cover costs associated with entrance testing, student placement and their related administrative expenses. This fee is in addition to the last month’s (May) registration deposit (per "Registration Deposits and Discount/Assessments" below, which is non-refundable after August 1^st).

Registration Deposits and Discounts/Assessments :

A registration deposit for the last month's tuition (May) is due when registering for classes. This deposit is non-refundable after August 1^st. Registration deposits received on or before May 1^st are eligible for a $20/student "early registration discount." Deposits received after August 1^st are assessed a $20 fee to cover additional administrative costs and any expedited book costs/fees.

Lump-Sum "Cash Tuition Discount :

Parents/Custodians making a lump-sum payment for a student's full-year tuition, on or before July 1^st, will earn a 10% cash discount at the time of pre-payment.

Tuition Due Dates :

All tuition is due by the 1^st of every month from August (for May) to April and is non-refundable at that time. If payment cannot be made on or before the 10th of the month, the Parent(s) must contact the Administrator and make payment arrangements.

Late Fees :

A $20.00 late fee is added after the 10^th of the month. The $20.00 late fee may be waived if prior arrangements have been made with Administrator.

Tuition Non-Payment Expulsion :

After 2 months of non-payment, the child is not allowed to return to class unless prior arrangements have been made with the Administrator. In this case, Parent(s) shall meet with the Administrator to discuss their specific situation and develop a payment plan for resolving their non-payment issues. In these circumstances, any arrangements made with the Administrator are contingent upon Board approval.

Annual Tuition Commitment Policy :

Regents Academy plans its expenditures annually based on the summation of annual, individual student tuition. The vast majority of Regents Academy expenditures, are one-time or annual commitments (such as Books or Teacher Wages/Fringes) and cannot be adjusted or reduced after the start of the school year. Therefore, by sending students to Regents Academy, Parents/Guardians are committing to pay the full annual tuition, regardless of attendance. Parents/Guardians may petition the Board of Directors for reimbursement due to unique and/or unforeseen circumstances.

Special Payment Policy :

With Board approval, the Administrator may allow a family to pay over a period of months that differs from the normal 9-month payment cycle. However, in all circumstances, tuition must be paid in full on or before May 1^st (see Registration Deposit above) and this policy cannot extend beyond a 12-month payment cycle starting June 1^st.

Multiple Student Discounts :

Families with more than 2 students attending Regents Academy are entitled to a "Multiple Student Discount" with the 3rd child receiving a 10% discount and increasing 10% for each additional child. In other words, a fourth child will receive a 20% discount; a fifth child will receive a 30% discount and so on up to a maximum 50% discount for the 7^th and successive children. In calculating discounts, children are ranked from oldest to youngest with the discounts applied successively, with the youngest child receiving the largest discount percentage.