Dear Collective Families,
We are in the midst of preparing the school contracts for the 2015-16 school year, and we wanted you to be aware of some changes from the previous years. These changes were made in response to the financial impact of the proliferation of Universal PreK on the Collective, especially the sudden and late withdrawals of families last summer. Therefore, in order to protect the Collective financially while at the same time attempting to minimize any extra burden on families, the Board voted at its January meeting:
1) to reduce the number of tuition installments from 11 to 10; and
2) to phase in an earlier schedule of payments.
The Board believes these changes will make the Collective less vulnerable to any last-minute withdrawals by not only providing a greater cushion of funds at the start of the school year, but also requiring a greater financial commitment (“buy-in”) to the Collective before the school year begins to discourage withdrawal.
Aside from the annual tuition increase, the only change for returning families (that is, families who have a currently-enrolled child returning in September OR whose currently-enrolled child is graduating but who have a younger child entering the Collective in September) this coming year is the reduction in the number of tuition installments, from 11 to 10. The first installment will still be due July 1; and with the reduction in number, the 10th and last installment will be due April 1. The following school year will see the completion of the phase-in, with the first tuition installment due May 1 and the last installment due February 1.
New families and former/alumni families will be on a different schedule of payments for 2015-2016 for their newly-enrolled children. These families’ first installment will be due at the time of the contract signing, the second installment will be due June 1, and their last installment will be due February 1. Once the phase-in is completed, ALL families will be on the same schedule of payments, May 1 – February 1, with the only exception being the first tuition installment of any newly-enrolled child of a new or alumni family to be due at the time of the contract signing.
Please feel free to speak with any Board member about these changes. And, as always, thank you for your continued support of the Collective.
The PSCCC Board