The cost of tuition in international schools has always been higher than in public and private schools. This is because many international schools offer multiple curriculums that have different requirements. According to the syllabus, the school has to have trained staff in the relevant curriculums and the appropriate facilities and learning materials for the students. Whether you are an expatriate or a resident in a particular country, it can be equally challenging to manage to pay the high tuition costs for an International school. Fortunately, there are ways to help ease the financial burden.
Applying for scholarships should be the first thing you consider in managing an international school’s fees. As you know, India’s cost of education is rising, and although parents are advocating for the government to step in, there isn’t much they can do when it comes to international schools. This is because most international schools are privately owned, and the government doesn’t have the power to step in and regulate the school fees for a private institution.
Luckily, schools such as GIIS Pune offer a variety of scholarships to new and existing students. Some of the scholarships available are the APJ Abdul Kalam Scholarship, Global Citizen Scholarship, GIIS sports scholarship, 9GEMS holistic development scholarship, and many more. Some of these scholarships pay for 100% tuition, so depending on which one you apply to, you can save a good chunk of money for the future. They are also available to students who excel in different areas such as technology, sports, academics, arts, and much more.
If you plan to apply for scholarships, it is always best to start early and apply for as many as possible. It is a common misconception that a student can only apply for one scholarship at a time. You can also look at grants and fellowships to help pay for your tuition. Remember that you can get a scholarship from the state or national government, private and international companies, organizations, and schools.
2. Your employer
Some companies offer their employers an allowance for educating their dependents for a couple of years. The amount can vary depending on the company and maybe your position at work, but either way, it can help you save some money. In most cases, the amount is a lump sum amount you might have to split if you have more than one child. Additionally, the allowance might not apply if you have kids in university. Parents are advised to use this opportunity wisely as it only lasts for a couple of years. It is an excellent opportunity to save your money when the company benefits stop, and you have to pay for your child’s school fees out of pocket.
3. Consider buying used textbooks
In most cases, scholarships and education grants only cater for tuition fees and not learning materials or school supplies. In an international school, the cost of learning materials can quickly add up to a considerable amount. You can minimize costs by buying used textbooks, which are usually in good condition and more affordable than new ones. Additionally, you can also inherit textbooks and other learning materials from family friends and relatives who have gone through the same system.
4. Education insurance
There are many child education plans in India that you can sign up for. Most of the premiums paid on these plans are not taxable; therefore, your child will get the full amount once it matures. It is important to note that most of these insurance plans will only benefit your child upon your death, so depending on your career, a child education plan can be the way to go.
As much as international schools are expensive, GIIS schools’ tuition fees are said to be fair. Using one or all the above methods to help reduce school fees’ financial burden, your child can get a quality international education.