2020/2021 Fees Reminder and Withdrawal Notice

2021 Fees Reminder and Withdrawal Notice

With 2021 fast approaching, I would like to draw your attention to the following important information relating to next year.

Update on 2020 financial position

2020 has been a challenging year with the impact of COVID-19 being felt across the College. Significant areas that been impacted include:

• Increase in assistance to families;

• Increase in cleaning and COVID-19 hygiene practices; and,

• Decreased trading activity in a variety of business operations at the College.

These impacts were offset somewhat by an overall reduction in professional development costs as well as subject expenditure which includes various immersions and College events, both relating to COVID-19.

In addition to this, our level of funding from both the Federal and State Governments has been reduced over the coming decade. The funding model used to determine level of funding which was previously based on Census data has changed and moved to a measure of parental income based on Personal Income Tax (PIT) data.

The cumulative impact is a significant reduction in the 2020 budget surplus for the College that is expected at the end of the school year.

Proposed 2021 College Fees

The draft College budget for 2021 has been completed and has been submitted to Edmund Rice Education Australia – EREA (Educational Authority responsible for Waverley) for approval. The budget process has recommended increases in the range 2.6% – 3.8% increase in tuition fees. This recommended increase is lower than both the EREA recommended maximum and the Australian Education Cost Index.

To enable families to plan their own budgets accordingly, I provide for you the table of proposed fees. EREA processes and timelines mean that the fees will only be confirmed in December 2020. I will write to you at that time should there be any change to the 2021 tuition fees. I am conscious that fee increases may affect some families more than others and, where genuine hardship may arise from this change, the College will be open to providing some support.

This decision has been made with the following considerations in mind:

• Ensuring that the College continues to provide our boys with a well-resourced, holistic learning experience.

• Maintaining parity of the College’s financial position to previous years. All Catholic Schools have matched the NSW State Teachers salaries increase of 2.5% to ensure parody, as negotiated under the EBA (plus on-costs), the fee increase is tied to both industry and actual cost increases.

Affordability in the current economic environment. Our fees remain competitive, affordable and reduce the need for future concessional considerations. There continues to be increasing enrolment demand for places at the College, in fact the College will reach its largest enrolment in its history with over 1500 students in 2021.

Fee Schedule 2021

* Billed over three terms.

Families are reminded that one term’s written notice is required if a child is to be withdrawn from the College. In the absence of such notification, an amount equal to one term’s fees will be payable.

Additional Payment Option – for COVID-19 affected families

Waverley College has partnered with Edstart to specifically assist families affected by COVID-19 with managing your school fee payments.

To help take the pressure off your budget during the current pandemic, you can reduce your repayment amount for up to 6 months and catch up on the difference in repayments when we start to recover from the impact of COVID-19 without incurring any fees or interest charges. Edstart will work closely with you to tailor repayments around your individual circumstances. If you wish to make an application please send an email to schoolfees@waverley.nsw.edu.au  for a preliminary application form.

Conclusion

The impact of fee increases, combined with the effect of COVID-19 on family household budgets, continues to be a primary concern for the College. We are advising of this proposed increase earlier than in previous years to enable families to plan accordingly.

I thank you for your prompt payment of fees each term and for the many contributions financial and otherwise, that families continue to make to our Catholic College. Together we pave the way for a robust and exciting future for Waverley College. I thank you in anticipation of your prompt payment of College tuition fees and for your generous contribution to the learning future of the boys at Waverley College.