Fees Policy
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School Fees Policy for Riverside Academy
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Introduction:
Riverside Academy is committed to providing value-for-money education and aims to make quality education accessible to all students. The school charges one of the lowest school fees among all Grade A schools in the Ashanti Region. This policy outlines the guidelines for fee payment, discounts, deadlines, and other important financial considerations for parents and guardians.
1. Full Payment by School Reopening:
All fees are to be paid in full by the reopening of school, unless arrangements have been made with management.
A full term's fees are payable irrespective of the actual date of admission, re-entry, or withdrawal.
2. Instalment Payment:
Parents seeking to pay fees in instalments must apply to the Executive Director by the end of the previous term and complete a form 1A (School fees part-payment Undertaking).
3. Fee Payment and Deadlines:
All fees must be paid within one week after the term begins.
A surcharge of 10% may be levied on all fees not paid before the set deadline.
4. Registration and New Admission Fees:
Registration and Admission fees must be paid in full before the new child can start school.
5. Fee Payment Options:
All fees are to be paid directly into one of the two designated bank accounts of the school or its MTN Mobile Money Account.
Riverside Academy does not receive cash payments for school fees at the school premises.
Bank drafts from any registered bank are acceptable, but they are subject to clearing processes and are not instant payments.
6. Payment Verification:
The pay-in-slip stating the student's name must be presented to the Accounts office for verification and entry.
7. Withdrawal of Students for Non-payment:
Parents may be asked to withdraw their wards if fees are not paid in full within the stipulated period.
Parents facing financial difficulties are encouraged to communicate with the School Business Manager to discuss alternative payment arrangements to avoid student withdrawal.
8. Expulsion for Arrears:
Learners with arrears on their school fees account for two consecutive terms will have their admission status reviewed and may be expelled.
9. Withdrawal and Refunds:
A term's written notice is required for withdrawal, and if no such notice is given, a term's fees must be paid in lieu.
Fees are not refundable in the event of expulsion or other circumstances, and outstanding fees may be subject to a 10% monthly levy.
10. Absence and Reservation:
Learners absent for a full academic year must pay fees in full for the period of return to maintain their place.
Students failing to report to school after two weeks of reopening without prior written request forfeit their place.
11. Discounts:
A special discount is given to wards of staff members.
Parents with four or more biological children in the school are eligible for a discount.
12. Bursaries and Merit Awards:
A limited number of bursaries for merit awards are available for learners with demonstrated financial need at the discretion of the Board of Governors.
13. Inclusivity:
All Riverside Academy learners are treated as equals, regardless of their social, ethnic, or racial backgrounds. The academy fosters an inclusive and supportive learning environment for all students.
Conclusion:
Riverside Academy's school fees policy aims to ensure fairness, transparency, and equal access to quality education. By adhering to this policy, parents and guardians contribute to the success of the school and the overall growth and development of its students.
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Updated: July 2023