Money exchange houses and bankers expect the coming years would be critical for the rupee
business5 hours ago
The words 'mega sale' may be associated with the retail industry, but fierce competition among Dubai's private schools is witnessing a trend here, with many schools offering 'sibling discounts' as a way of keeping and attracting enrollments.
Come September, Dubai's private schooling sector will add 10 new schools to its already growing portfolio. A move that will see an additional 20,470 seats open up to parents here, many existing schools are now opting to put their seats on sale in a bid to keep ahead of the competition.
Though the Knowledge and Human Development Authority (KHDA) fees framework regulates how much schools can increase tuition fees by (in accordance with the annual Education Cost Index rate), it is at the school's discretion as to what discounts - if any - they put in place for parents and students.
Since the introduction of the KHDA's 'parent-school' contract in 2015, we have seen a spurt in the number of financial savings promotions from school administrations. But one of the most popular discounts among multi-sibling families is the 'sibling discount' option.
Although not all schools have chosen to implement this offer within their 'fees' section, many have. Just last month, mother-of-two Mariam Al Harmoodi received a letter from her school informing of a 'revised fees' structure. The letter stated it made the move to ensure it remains a "sibling-friendly school", and said it would provide further "discounts for new and existing families".
"The revised tuition fees provide a 10 per cent discount for the first child, 20 per cent for the second and third child, and 25 per cent for the fourth and subsequent children, which can be paid over six installments," it read.
With Al Harmoodi's first child in Year 1 at the International School of Creative Science, Dubai and her second child in FS1, she will now pay Dh33,750 per year for her second child, instead of Dh37,500.
But aside from the financial gains for parents, what are the additional benefits for both schools and parents from school discounts?
Emily Jardine, Reviews Editor for online educational consultancy, WhichSchoolAdvisor.com, told Khaleej Times these schools are introducing such offers as a way to offset the stress parents feel about school fees.
"As parents pay beyond school fees for their child (uniforms, transportation fees etc), sibling discounts are an important way to help families who are committed to a single school. It rewards, in a sense, their loyalty to a school."
Furthermore, she said schools know that parents are the "best advertisement for any school" so to have happy parents who feel like their commitment is being appreciated and recognised means that you have "that many more promoters of your school" out in the community.
With sibling discounts offered for "many years at all Gems schools", a spokesperson told Khaleej Times they were introduced to "lighten the financial load of all students and parents", and this, in turn, has created trust between both parties.
For schooling organisation Taaleem, the economic burden being weighted on parents meant it made sense to give something back to them financially.
"Over 60 per cent (of families) have little or no education allowance from their employers. As a result, we made two announcements for the academic year 2017-18. Firstly, not to implement a fee increase for any of our schools, and secondly to offer new sibling discounts and improved payment terms for our families."
Money exchange houses and bankers expect the coming years would be critical for the rupee
business5 hours ago
The logistics major has invested more than $11 billion in port infrastructure
business6 hours ago
The retailer, which is also a popular choice among UAE residents, announced the closure on its official Instagram and Facebook page
business6 hours ago
The Galaxy Unpacked launch will take place in San Jose, California
tech6 hours ago
This is our first flight and we've prepared rigorously for it, says New Glenn's senior vice-president Jones
world7 hours ago
'Lim Kimya... died at the scene. Officers with the Metropolitan Police Bureau have launched a manhunt for the assassin,' the Bangkok Post reported
asia7 hours ago
AVATR, supported by industry giants Huawei and Lenovo, introduces a range of premium EVs crafted with the highest specifications and cutting-edge technology
kt network7 hours ago
The 15-year-old Czech golf star fires a final-round 64 to seal a 12-shot victory at The Els Club, Dubai
sports7 hours ago