BISC Fees Petition
To the BISC Board of Directors
During the past few years, Egypt has witnessed a number of unfortunate events that have led to a severe economic downturn. The economic repercussions of the recent devaluation have hit society in general hard and have had severe effects on all sectors of the economy. While most economists praise the recent floatation of the local currency, the medium and long-term consequences remain a riddle to most people.
A few years ago, BISC asked parents for their consent to raise school fees by £1000 and despite the financial pressure on their households, the parents gladly accepted the extra fees in order to support the school while it struggled with its new campus debts. In the post 25 Jan era, the parents were once again pressured into assuming the full financial responsibilities related to the school fees & once again, the parents rose up to the occasion and continued to support the school despite the heavy pressure on them and their children. Before the floatation of the Egyptian pound, parents were at first asked to pay the full fees in Sterlings despite the fact that banks didn’t provide any and in many cases parents had to buy the British Pound Sterlings from the black market, which was both illegal and unethical, then the 25-30% in EGP was introduced but parents were still required to come up with the remaining 75% in Sterlings in any way. BISC did try and offer alternative payment methods via deals with banks but that did not offer much relief as banks often ignored the deal.
As parents, we do acknowledge and fully understand the many different issues BISC faces on a daily basis to maintain its level of education. From hiring quality teachers that can deliver positive results, retention of current talents, upgrading infrastructure, maintenance & cash flow issues. Like any business or non-profit organization operating in Egypt, there are numerous challenges that need to be undertaken to keep the organization running and undertaking its role in society as a beacon of education in Egypt. The responsibility will continue to grow with the various economic and social challenges in the future and as parents, we will continue to support those efforts and are willing to contribute more of our time and expertise when and if needed.
In terms of financials, we all expected BISC to both react and interact with the parents after the Pound floatation like most other schools did, yet up until today, we have not received any feedback from the school. In light of the above mentioned, we are asking BISC board of directors to share the financial burden with the parents. The school fees effectively doubled & have become impossible to sustain by many parents. The number of parents who are seriously considering moving their children to other schools is staggering. Not only will this have an adverse effect on the lives of those BISC students but it will also have a significant impact on the financial performance of BISC & its reputation as a nonprofit organization. While we do understand the need to maintain the quality of education the school has offered in the past, we also know that you will appreciate the past sacrifices the parents have made & the fact that children come first.
At this stage, we will not be proposing a certain figure or percentage in deductions, nor are we proposing a restructuring program to bring down the various costs of the school; we have decided to leave that up to your good judgment. We rest assured that you will make the right decision for the greater good of all our children, all BISC students & hopefully one day alumni, who will have a positive impact on their respective families and society in general.
Awaiting your prompt feedback.
Please sign with your name and comment with your children's names and classes. Thank you