Anonymous wrote:Why did they have to move? And other private schools give financial aid to students, so that’s not the excuse. I actually find it sad that they are blaming financial aid for what sounds more like financial mismanagement.
Anonymous wrote:Why did they have to move? And other private schools give financial aid to students, so that’s not the excuse. I actually find it sad that they are blaming financial aid for what sounds more like financial mismanagement.
Anonymous wrote:Why did they have to move? And other private schools give financial aid to students, so that’s not the excuse. I actually find it sad that they are blaming financial aid for what sounds more like financial mismanagement.
Anonymous wrote:Anonymous wrote:Naive question: if parents are paying tuition, why would the school run into so much financial trouble? Isn’t the math just adding up the costs of the things you’ll need for the year (salaries, rent, equipment, etc.) plus some cushion?
I spoke with a friend who works at a private college recently. I presume that they have similar structures to private elementary and high schools. She told me that schools rely heavily on financing and that recently it has been much harder to secure financing for private schools from lenders. I don't know why but I assume it has something to do with the fact that a lot of schools are closing these days.
Anonymous wrote:Anonymous wrote:Naive question: if parents are paying tuition, why would the school run into so much financial trouble? Isn’t the math just adding up the costs of the things you’ll need for the year (salaries, rent, equipment, etc.) plus some cushion?
from the letter sent to parents:
"Since last school year, we have worked tirelessly to raise the funds needed to address the financial shortfall caused by the expenses of our move and the financial aid commitments we made to families who relied on our program. These commitments were made to students we believed in—students who have flourished in our unique learning environment. Turning them away was never an option, as our mission has always been to provide access to those who need us most."
Anonymous wrote:Naive question: if parents are paying tuition, why would the school run into so much financial trouble? Isn’t the math just adding up the costs of the things you’ll need for the year (salaries, rent, equipment, etc.) plus some cushion?
Anonymous wrote:Naive question: if parents are paying tuition, why would the school run into so much financial trouble? Isn’t the math just adding up the costs of the things you’ll need for the year (salaries, rent, equipment, etc.) plus some cushion?
Anonymous wrote:Anonymous wrote:Anonymous wrote:1/2 year of public is an option. It's only a few months. Focus on next year.
+1
Could be better than hastily moving to another school for half a year. Plus, costly for those that already paid for the full year of tuition at Feynman. No easy answers here!
I am assuming schools with open spots are not that desirable...but could still be a good fit in some circumstances.
Anonymous wrote:Naive question: if parents are paying tuition, why would the school run into so much financial trouble? Isn’t the math just adding up the costs of the things you’ll need for the year (salaries, rent, equipment, etc.) plus some cushion?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Again, wouldn’t tuition insurance cover this kind of situation?
Sadly — when we signed our enrollment contract, it did not come with an option for tuition insurance. I actually called and researched to see if I could purchase tuition insurance on my own. No go. The companies only offer policies for a school as a whole, not to individual families.
In case school admin is reading this — The enrollment contract does not protect the school in this situation. You are only entitled to keep the full tuition if parents withdraw mid year or kid is expelled. NOT applicable here.
While you are correct, a closure this sudden indicates that they are out of money and probably are unable to make their payroll, rent, etc to be able to continue operation, so you should prepare yourself for there being no money to return, or at least not enough to return in full.
I know. It’s just a terrible situation all around and we are prepared for this. But what is infuriating is that the school has not been at transparent about the financial situation. Yes, the fundraising pleas were direct and escalating, but they have never been transparent about revenues and outflows, the way other private schools are. Most parents accepted this because our kids were happy there, but at this point, I think parents are owed at least some answers and more information than we have received.
Absolutely! The school definitely owes you an explanation and information. I hope you get it soon.