The provision of a quality education for your son is very important, hence your decision to send him to Grey High School.
Grey High School cannot operate successfully if inadequately funded.
We have a well developed fiscal plan, aligned with our strategy, which encompasses both long term and short term goals.
Funding Operating Expenses and Capital Projects
School Fees are used to fund operating expenses.
School Fees are kept at the lowest possible level. The annual fee increase covers increased operational costs and salaries.
Receipts in terms of Section 18A of the Income Tax Act are issued in respect of donations received by Grey High School (see Funding)
Monthly account statements are issued.
Change of Banking Details
All parents are required to notify the School should their banking details change. These can be submitted online in order to improve our efficiency and improve the accuracy of details on hand.
The methods of payment are
Annually by 31 January
Monthly debit order for 12 months (January to December), the first working day of each month.
No cash payments will be accepted at Grey High School. Cash payments can be done at any branch of Standard Bank.
Interest on overdue fees is charged monthly on all outstanding tuition fees. The rate has been set at prime plus 3% to encourage parents to pay the school account on time.
Parents are obliged to complete the “Acceptance of Terms and Conditions” and the “Standard Terms and Conditions“and debit order details upon enrolment of students at the School.
Procedures for collection
Parents will be debited for fees monthly in advance. No statements will be sent to debit order accounts which are up to date.
Default on Payments
If the account is outstanding for 30 days, parents will be given seven working days after a first warning communication to settle the account.
Should the account remain unpaid after the window period stated above, parents will receive a second communication.
Thereafter, the account will be handed over to either a debt collection agency, the School’s
Attorneys, or another suitable agency, for collection.
All procedures and communications concerning the collection of fees will be conducted by the Bursar’s office via the Debtor’s Controller.
The Rector will not be involved in the process.
If parents do experience a financial problem, an appointment must be set up with the Debtors Controller to see if an arrangement can be made with regards to fee payments.
All communication with parents may be recorded on a data collection system. The School reserves the right to record any conversations with any parents.
All communications concerning arrangements for the payment of outstanding accounts will be confirmed in writing by Grey High School.
Collections will be allocated against the account in the following order:
- Legal fees
- School fees
Where fees are paid annually in advance, i.e. on/or before 31 January, a discount in respect of the total amount will be given. This amount will be published in the annual fees letter to parents.
Terms Associated with the Payment of School Fees
Annual fees are due on 31 January each year and are payable:
- as a lump sum on or before 31 January; or
- twelve monthly instalments commencing on 2 January by debit order.
- All other methods of payment need approval from the Debtor’s Controller.
Interest (prime plus 3%) is levied monthly on all tuition fees that are 30 days in arrears. The rate is set by School Governing Body.
RD (“Return to Drawer”) Cheques
In the event where cheques are drawn on accounts in which there are insufficient funds, an administrative fee of R50.00 will be levied on every RD cheque received.
Returned Debit Orders
In the event of debit orders returned due to insufficient funds an administrative fee of R50.00 will be levied. Only cash (by direct deposit), bank guaranteed cheques will be accepted as further payment on accounts for which three debit orders were returned by the bank.