Financial Matters

Fee Structure:

The tuition fee has to be paid on monthly basis by day-scholars and day-boarders and on quarterly basis by the boarders. No student will pass out or receive grades or transcripts of records unless all financial obligations have been met. Tuition and fees are subject to change without notification. For details of fee structure, please contact the school office.

Payment of Fees:

The fee has to be deposited in the specified bank of the school or through bank draft crossed in favor of Payee’s Account only. Cheques are also acceptable.

The fees of boarders include tuition, boarding & lodging, messing, haircut, washing etc. These, however, do not include extras like pocket money, books & stationery, educational tours, exam fees, extra kit items, etc.

The fee of day scholars and day boarders is drawn on monthly basis in advance. The fee must be submitted by the 10th of each month after which a late fee fine of Rs. 5 per day will be imposed till the last date of the month. At the end of the month the student’s name will be struck off the school rolls.

The fee of boarders is drawn on quarterly basis and must be submitted by the due date for each quarter failing which a fine of Rs. 20 per day will be charged till the last day of each quarter. The student’s name will be struck off the rolls if the fee is not paid till the end of the quarter.

Readmission is the discretion of the Principal and depends on the availability of seats. It will be granted only on payment of full admission fee, late fee fine and other outstanding dues, if any.

A day scholar who joins the school on any date during the month shall have to pay the fee for the entire academic year, while the boarder shall pay full fee of the quarter in which he joins and 20% of the total fee for the previous quarter.

A day scholar who joins the school on any date during the month shall have to pay the fee for the entire academic year, while the boarder shall pay full fee of the quarter in which he joins and 20% of the total fee for the previous quarter.

No student particularly the boarder is allowed to sit in any public examination or the school annual examination unless his/her accounts have been paid in full by the date the examination begins.

Financial Aid:

While Modernage subscribes to the philosophy that primary responsibility of meeting costs of education rests with the family, it also realizes that there are families who do not have available means to send their children to a private institution. In recognition of this fact, Modernage uses every possible means to bridge the gap between family resources and educational expenditures. The family is expected to make a maximum effort to assist the student with his/her educational expenses and any financial aid extended by the institution should be viewed only as supplementary to the efforts of the family.

The primary purpose of Financial Aid is to provide assistance to students who, without such aid, would be unable to receive education. The aid is offered on the basis of financial need. Some of the factors that are taken into consideration in determining the family’s financial strength are: current income, number of dependents, other educational expenses, debt, retirement needs and unusual circumstances.

Students in need of financial aid must apply afresh each year. However, the facility once extended does not qualify any applicant to have it again. All such applications will be processed again in the light of the funds available and other relevant terms and conditions.

Categories of Financial Aid:

There are three categories of Financial Aid:

1.Sibling Concessions

Sibling Concession: Offered to real brother/sister as follows:

Number Of children Tuition fee liable
1st child Full
Others Half
 

2. Academic Excellence Scholarships

Academic Excellence Scholarship: Offered to six students each year who achieve highest percentage in Board Exams.

3. Student Support Scholarships

Student Support Scholarships are offered to students in need of financial aid. An application for the grant of financial aid (available from Admission Office) must be submitted by the 15th of October each year. It normally takes four to six weeks to process the application at the end of which the most deserving applicants receiving the aid for the next academic year are informed.