The Canada International School's "Tuition Companionship" initiative pays interest on loans to parents to pay tuition fees, sharing financial pressures caused by Covid-19.
"Tuition Companionship" is a program jointly implemented by the Canadian International School System (CISS) along with international and domestic banks such as Shinhan Bank and ACB. This is a special financial support program, designed exclusively for parents of member schools in the CISS system, including CVK, CIS, BCIS, and AES (Albert Einstein).
According to Ms. Nguyen Thi Kieu Oanh - General Director of Khoi Nguyen Education (KNE), the investor of CISS, the policy of the school is to always strive to support students to access an advanced education. Therefore, every year, the school regularly has practical financial support programs for parents. During this year's enrollment season, understanding the financial pressures of many families after more than 2 years affected by Covid-19, the CISS Board of Directors decided to implement the "Tuition Companionship" program at all schools in the system. This is the largest financial support program ever of CISS for parents and students.
The financial problem when sending children to international schools was specifically calculated by Ms. Kieu Oanh. With the "Tuition Companionship" program, parents split the tuition fee to pay each month through the bank, instead of paying once or twice a year as before. Accordingly, parents take unsecured loans from banks from 500 million VND to 900 million VND to pay tuition fees, with a maximum loan term of up to 5 years (in the case of unsecured loans), or unlimited loan duration (in the case of a mortgage). The school will pay the full interest on behalf of the parents for a maximum period of 5 years.
With the tuition fee of a member school like Albert Einstein (AES), a parent who sends a child to grade 1 pays about 7 million VND/month, or an average of 11-13 million VND/month for the entire 5-year period. For the Bilingual Canadian International School (BCIS), the monthly payment is about 13-15 million VND. With the Canadian International School (CIS), studying entirely in English under the Ontario Baccalaureate (Canada) and International Baccalaureate (IBDP) programs, the average monthly payment for a maximum period of 5 years of study is about 25-35 million VND.
When participating in this program, parents also keep the preferential tuition rate unchanged for a period of 2-5 years. With the division of monthly tuition fees, the school pays 100% of interest instead, parents participating in the program can save up to 30-40% compared to paying annual tuition fees as before.
For existing parents, this is also the third year that the Canadian International School system has kept tuition fees unchanged. This is a policy showing the sharing and support of schools in the system with parents in the face of difficulties and losses caused by Covid-19.
In addition to the above goals, the program also aims to create conditions for students to have a strong attachment to the school for a long time. The program helps parents who are preparing for their child's education (the transition from Kindergarten to Primary) build a safe, reasonable, and effective financial plan. With this financial solution, senior students also have more opportunities to earn prestigious international school diplomas at CISS at a low cost.
Ms. Le Thi My Tho - Director of Corporate Marketing Center, added that with the "Tuition Companionship" program, there are 2 forms of funding: unsecured credit with a maximum limit of 900 million for 5 years, a mortgage with an unlimited loan.
This is not CISS's first financial assistance program. Before, from 2009 until now, the Canadian International School system has always offered financial support programs for parents such as the "Founding Parents" program (2009), "Preferential members", "Special member", and "Passport to CISS", "Educational settlement", etc.
Dr. Brenda Williamson - CISS Head of School, further shared that as of March, 12th-grade students of the CIS International Program have received more than 40 offers of early admission from major universities around the world, plenty of half-fee, full-ride scholarships with values up to thousands of USD/scholarship. For the Bilingual system, continuously over the years, 100% of students in this system are exempted from the English high school graduation exam, achieving the maximum score as prescribed. The majority of Bilingual graduates also achieve high IELTS scores and they often choose the path to study abroad.
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