Schools and the Economy

This week’s Crains NY Business told the story of a fledgling school that is not opening due to current economic conditions.  The next line was about NYC independent schools accepting more children than in previous years because they were uncertain how many accepted children would actually come.

Do we know about the impact of the economy on independent schools elsewhere in the world?

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5 Responses to Schools and the Economy

  1. Karen says:

    Private schools here in Los Angeles are also hurting. Spots are more apt to be available due to the uncertainty of our times. There was an interesting article in the L.A. Times that stated middle and upper middle class families would rather pull their child out than ask for financial aid. It suggested that schools start to establish a tuition based on a family’s ability to pay (similar to what some top colleges and universities are doing now). Wouldn’t that be nice!

  2. Theresa says:

    While I cannot say that schools in Bangkok are “hurting,” some of the bigger schools have announced that the will forgo the annual fee increases for 2009. I know of a couple of expat families considering leaving the country as private school fees are prohibitive in the recent economic climate.

    Bangkok has more than 75 international schools, all of them private. Local public schools are not viable options for expatriates or those planning to pursue higher education abroad. Thus, the clientelle of these int’l schools are upper class Thais and long and short term expats. The corporate and diplomatic families usually have “a package” that covers the high costs of the private schools but the real demographic to watch will be those paying out of pocket.
    In the past the smaller schools have sought to attract students by being flexible with payment plans and even reducing or delaying certain fees for those with more than one child or on a modest budget. It will be interesting to see if the big name schools adopt such policies.
    Thailand’s economic problems stem not only from the global crisis but are exacerbated by the recent political unrest. Investors are shying away and moving to Singapore which is now seen as a more stable environment in these uncertain times. Tourism has never recovered to pre-tsunami levels and current events make the outlook even bleaker for the nation’s main industry.

  3. Judy C. says:

    An article in the San Jose Mercury News this week suggests that increased applications to private schools in the San Francisco Bay area for the upcoming school year is due to parents’ worry about the demise of public schools due to proposed state budget cuts. It will be interesting see how many families are truly serious about moving their children to private schools and how many children will be turned away due to such high numbers of applicants.

  4. Doreen says:

    I know of one private school that is closing in Dallas. Will parents pursue private schools as public school budgets decline? A very good question. As a society are we ready to commit to quality education for everyone.

  5. Jeannie says:

    Now is the time when incoming college freshman are receiving college acceptances. The change in the US and world Economy certainly will impact secondary education and those pursuing higher education degrees.

    Some US Universities and Colleges are re-thinking acceptance policies and programming.

    Some colleges increased early admissions applicant acceptances while others decreased amount of early admission acceptances. Financial aid packages to defray or assist with overall costs are changing on a school-by-school basis.

    Another publicized plan in Pennslyvania is to offer pricing for a no-frills college education, which sounds like academic coursework alone.

    Is the timing still right for students, to pursue academic dreams, or rather pursue skills-based coursework for careers with solid employment opportunities?

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