Tuition and Fees

School Year 2008–2009

1.   Tuition.  The tuition provides for the rent of school facilities, utilities, security, maintenance, supplies, one yearbook per family, and salaries for operating the school.  Payment is due quarterly by the dates indicated below.  Upon withdrawal, a tuition refund may be granted for any full quarter of non-attendance, if payment for the full year was made in advance. 

2.    Registration Fee.  The registration fee provides for textbooks, school supplies and paper, technology software and supplies, sports and wellness program, and student medical insurance.   The Registration Fee is non-refundable. 

3.    Infrastructure Fund.   Each family will contribute annually to “The Future is Now” Infrastructure Fund to support our capital improvements (this fee is waived for Pre-Kinder students only).  The Infrastructure Fund is non-refundable after the students have started class.   

4.   PTSO Fee.  Each family will contribute $20.00 annually towards the Parent, Teacher, and Student Organization. 

5.    Admission Fee.   All new students will pay an Admission Fee of $7,000.  Students entering Pre-Kinder may make this payment when entering Kindergarten (if the fee is paid while the student is in Pre-Kinder, the current year’s Admission Fee applies.)  The Admission Fee is a one-time payment to the school Foundation and will be used to purchase school buildings and equipment such as computers, furniture, library books and other durable equipment for use by the school. The Admission Fee is non-refundable after students have started attending class.  (NOTE:  If you withdraw your child(ren) from the school and later re-enroll them within 3 years of the withdrawal date and they are accepted, you will not have to pay this fee again.  If they are re-enrolled after the 3 years, the difference of the current Admissions Fee and what was previously paid, will need to be paid.) 

NOTE.  All school fees are payable to Academia Vasco Nuñez de Balboa or Balboa Academy, except for the Admission Fee and the Infrastructure Fee.  These fees must be paid to the Fundación Vasco Nuñez de Balboa.  There are two methods of payment:

1.        Payments can be made at the Finance Office at the school.  You can either pay in cash or check.  All returned checks from the bank with have a bank charge of $20.00 or more, and a school administrative charge of $25.00.

2.        CitiBank Speed Collect.  You can go to any CitiBank and make payment through the SpeedCollect system.  These slips are available at the Finance Office at the school, or at any CitiBank (make sure the upper left-hand corner says Academia Vasco Nuñez de Balboa). 

6.  New Student Reservation:  

a. If an available space is to be reserved for a student, regardless of entry date, a non-refundable deposit consisting of the registration fee must be paid upon acceptance by Balboa Academy.   

b. Once the student is accepted by the school, and does not enroll during the reserved semester for any other reason, no refund of the Registration Fee will be made.  If the student does not enroll in school during the reserved semester, any deposits made to the Admission Fee, Tuition and Infrastructure Fund may be refunded or applied to a future semester.   

7.  Refunds.  Upon withdrawal, a student may receive a tuition refund for any full quarter of non-attendance. No refund of Admission Fees or Infrastructure Fund will be made after the student starts attending school.

8.  Collection of Accounts.  Tuition, Registration Fees, Admission Fee and Infrastructure Fund are due on or before the due dates indicated on this sheet.  No invoice/statement will be sent.  If an account is thirty (30) days overdue, a written invoice will be sent and a 5% penalty will be assessed.  Report cards, transcripts, diplomas and other student documents will be held until the account is up to date.  

9.  Discount for Advanced Payment.  A 5% discount will be given for payment of the total annual tuition on or before August 7,

 2008, i.e., Pre-K: $3876; Kinder:  $5377, Grades 1–5: $6422, and Grades 6-12: $7106. 

SPEEDCOLLECT PROCEDURES 

Please follow the guidelines below when completing the Speedcollect deposit slip.  Deposit slips can be picked up at the Finance Office, Bldg. 100, or at any Citibank branch.  

• NOTE:  MAKE A SEPARATE DEPOSIT SLIP AND A SEPARATE CHECK FOR EACH OF YOUR CHILDRE

• In the block that is designated as “Pago Trimestral/Otros”, you must circle the number that represents the quarterly payment or the school fee that you are making, i.e., Circle 2 for the second quarterly payment.  The dates for the quarterly payments and other required fees are as follows:  

                No. 1:  First Quarter Payment - due by August 7, 2008

                No. 2:  Second Quarter Payment - due by October 17, 2008

                No. 3:  Third Quarter Payment - due by January 23, 2009

                No. 4:  Fourth Quarter Payment - due by April 17, 2009

                No. 5:  Registration Fee - due by May 29, 2008 (new enrollments pay upon acceptance)

                No. 6:  Infrastructure Fund - due by August 7, 2008

                No. 7:  Late Payment Fee

                No. 8:  Yearbook

                No. 9:  PTSO Dues     

•  In the block designated as “Nombre del Estudiante”, print the full name (First, Middle Initial, and Last) of your child(ren)  (please make sure that the name is written correctly, otherwise we may not be able to apply the credit to your child(ren’s) account).  You are only allowed 35 characters (spaces) in this block.

•         If you are paying by cash, enter your tuition payment on the line that reads “Efectivo”.  If you are paying by check, enter your amount on the line that reads “Cheques”.  And finally, enter the total.

 For questions, or further information, please contact Mrs. Miriam Borras, Finance Office, at 317-0074