Despite the many challenges we all faced last school year and the continued investments in virtual school, COVID safety measures, facilities and technology, the school still realised a surplus. Savings amounted to 30 million baht (mostly due to cost management initiatives and partially due to campus closure).
The Board of Trustees has approved the issuing of a credit of THB 22,000 for each returning student for this up-coming school year (2021/22) based on these savings. This credit is provided in recognition of your ongoing support of ISB and to help our families navigate the uncertainties many are facing due to COVID-19.
This credit will be provided in addition to the 1% tuition fee credit for returning students already approved by the Board of Trustees and communicated in March 2021.
Both credits will be deposited directly to each family’s Campus Card account upon re-enrollment and payment of the first semester fees by August 30th. The funds can be used for extra-curricular and CAO activities, other ISB related fees and expenses such as Bookstore and Booster Hut purchases, lunches, IB exam fees, IASAS, school trips, as well as tuition fees.
You will be able to set daily spending limits for each of your family’s Campus Cards through the Campus Card website. The credit will not expire and the balance will remain on your card until your family withdraws from ISB at which point (after at least 50 learning days of enrollment) it can be refunded in cash.
Government Subsidy for all Students for School Year 2021/22
The Cabinet has approved a THB 2,000 subsidy for students in Thailand for the school year 2021/22. This subsidy also applies to students at ISB and once we receive the amount from the government we will then pass this on to all our enrolled families. More details will be provided once the subsidy process has been finalized.
We recognize that there are many families in Thailand less fortunate than us and we plan to provide an opportunity for you to donate your THB 2000 subsidy to ISB’s “Service in the Wild Foundation”, which supports under-privileged children and their families in Nong Ya Plong close to the Environmental Wilderness Campus (EWC).
Why does ISB not provide a discount for virtual school?
Some parents have asked why we do not provide a discount for virtual school. We understand that virtual school is not the same experience for our students (and our parents) as in-person learning, but as a non-profit organization ISB only budgets a small annual surplus with income dedicated to improving student learning and wellbeing.
The school’s main expense is salaries and benefits which amount to around 80% of tuition fee income. With a campus closure, we may have some savings such as for utilities, trips and instructional materials, but these have been largely offset by added expenditures for purchasing technology tools for virtual learning and implementing health and safety measures (thermo-scanners, deep cleaning, vaccinations, etc.). Consequently, we do not have any substantial annual savings and providing a discount for virtual school is neither sustainable nor financially prudent.
However, as we have demonstrated in the past two years during COVID, when we have had savings through cost management and campus closure, we will provide that credit back to our returning families whenever possible. The Board of Trustees and the Leadership Team will continue to monitor the COVID situation in Thailand and the impact on our community.
ISB remains committed to providing the best possible educational experience for our students and we will continue to use our financial reserves to invest in exceptional facilities, technology and learning resources for both virtual and in-person learning.
Finally, we understand that, due to COVID, some families are facing economic challenges. If you will have difficulty meeting the tuition fee deadlines, please contact me at marcd@isb.ac.th to discuss how we can provide support for your family.
Please do not hesitate to contact me should you have any further questions.
Thank you for your ongoing support for ISB.
By: Marc de Vries, Deputy Head of School/CFO
marcd@isb.ac.th