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 2020-2021 school year.
In 2020-2021 Katie (3 ½) enters the Preschool ½ Day Program. Because she enrolled in the school in the 2020-2021 school year, Katie has a 2020-2021 Tuition Base. For the first year, Katie’s tuition is $ 9,983 per Academic Year (See Schedule 1 below).
Schedule 1 (Preschool: ½ Day)
|
2020-2021 |
2021-2022 |
2022-2023 |
2023-2024 |
2024-2025 |
2025-2026 |
2020-2021 Base |
$ 9,983 |
$ 10,082 |
$ 10,183 |
$ 10,285 |
$ 10,388 |
$ 10,492 |
2021-2022 Base |
|
$ 10,981 |
$ 11,091 |
$ 11,201 |
$ 11,313 |
$ 11,427 |
In 2021-2022, Katie (now 4 1/2) becomes a full day Preschool student. Her 2020-2021 Tuition Base means that her annual tuition is $ 12,637, which is what a Preschool student with a Tuition Base of 2020-2021 would pay in the 2021-2022 school year (See Schedule 2 below).
Schedule 2 (Preschool: Full Day)
|
2020-2021 |
2021-2022 |
2022-2023 |
2023-2024 |
2024-2025 |
2025-2026 |
2020-2021 Base |
$ 12,511 |
$ 12,637 |
$ 12,763 |
$ 12,891 |
$ 13,019 |
$ 13,150 |
2021-2022 Base |
|
$ 13,763 |
$ 13,900 |
$ 14,039 |
$ 14,180 |
$ 14,321 |
In 2022-2023, Katie (now 5 1/2) enters her last year of Preschool. Her 2020-2021 Tuition Base translates into an annual tuition of $ 12,763 — 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.
2023-2024 is a big year for 6 1/2 year old Katie. She is now in Elementary School. As before, her Tuition Base is 2020-2021. This means that Katie’s family would pay $ 12,891 for the 2023-2024 school year. This amount would increase 1% every year after that. In 2024-2025 her tuition would be $ 13,019 and it 2025-2026 it would be $ 13,150. (See Schedule 3 below)
Schedule 3 (Lower Elementary)
|
2020-2021 |
2021-2022 |
2022-2023 |
2023-2024 |
2024-2025 |
2025-2026 |
2020-2021 Base |
$ 12,778 |
$ 12,905 |
$ 13,034 |
$ 13,165 |
$ 13,296 |
$ 13,429 |
2021-2022 Base |
|
$ 14,055 |
$ 14,196 |
$ 14,338 |
$ 14,481 |
$ 14,626 |
In Upper Elementary, Katie’s tuition would continue increase at a very predictable 1% per year.