Creating contracts can be a challenging aspect of leading a school, it’s not easy to decide how much to specify in contractual terms. Below are some things to consider for inclusion in a school contract depending on your school and the policies and procedures you will provide families: Parties: Clearly identify the parties involved in […]
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There are several accrediting authorities for private schools in the United States and internationally. Accrediting organizations assess and recognize schools that meet their established standards of educational quality and excellence. Some prominent accrediting authorities for private schools include: AdvancED (now Cognia) Cognia is a nonprofit organization that provides accreditation services for schools across the United
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Oftentimes, historic schools will create a scholarship fund to provide financial assistance to students who may otherwise be unable to afford tuition. If you’re thinking about a scholarship fund, the below may help: Clarify the purpose of the scholarship fund: identify the specific goals, such as supporting academically gifted students, students with financial need, or
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Some small schools will choose to use resources like ISM Fast to determine parents ability to pay whereas others will use a sliding scale based on income only with discounts for siblings. Below are a few tables as an example: Based on annual tuition of 20k Family’s combined income Discount % Discount $ Tuition Due
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Financial planning in a small school requires considering various factors, such as your school’s financial needs, the cost of operating the school, the local market, and the ability of families to pay in order to appropriately structure tuition and school fees. Below are some approaches for structuring tuition in a small school: Determine your expenses:
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It is important to remember when considering opening a school that operating a school in the United States (or anywhere else) involves compliance with various federal, state, and local laws and regulations: Licensing and Accreditation: Each state has its own licensing requirements for schools. Private schools may need to meet specific criteria set by state
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Starting a small school is complex, so below is a snapshot of the process to help guide you: Define your vision and mission: Clarify your educational philosophy, goals, and the type of school you want to create. Consider factors such as the educational approach, curriculum, values, and target student population as well as current educational
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There are several grants available for educational entrepreneurs who are looking to start or expand their educational initiatives. Here are some examples of grants that you may consider applying for: VELA Education Fund: This organization supports thousands of independent operators who facilitate learning outside the traditional bounds of ‘school.’ Yass Prize: This prize is awarded
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A school or student handbook for your school serves as an important first step in the enrollment journey. It is a reference guide for students, parents, and staff members. It provides stakeholders important information about the school’s policies, procedures, expectations, and resources. Here are components to consider including: Welcome and Introduction: Provide a warm introduction
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To create a budget for a small school involves carefully analyzing anticipated income and expenses. Below are first steps to start a budget: Identify revenue sources: Determine the sources of income for your school. This may include tuition fees, grants, donations, fundraising events, or other revenue streams. Estimate the expected amounts from each source. Estimate
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