In light of the recent developments and the decision taken by the Central Bank of Egypt to officially devaluate the EGP. Heritage International School parents are requesting from the school management/policy makers to reassess the school fees terms of payment and the fact that full school fees are quoted in USD (50% paid in USD and 50% in EGP equivalent at the current prevailing rate of the bank).

Appreciate your support and cooperation in considering a reasonable change to the fees policy that can be acceptable to both parties. Taking into consideration the following facts:

1) In 2016 the devaluation based on official bank rates is almost 100%. ( Rate was 7.73 in Jan now it crossed the 14 range). Thus school fees doubled.

2) In the coming period we are expecting significant fluctuation in the USD official rate making it difficult to manage the school fees payments.

Based on the above we suggest that:

1) School fees should be quoted in EGP and capped to a certain amount to avoid the severe fluctuations that occurred and are expected to continue.

2) Only the portion of the expenses related to salaries for foreign teachers should be in USD (or EGP equivalent of USD)

3) Reference to the ministry of education decree number 420 9/9/2014 related to private education

Thanks for your consideration and understanding