The English Schools Foundation (ESF) announced tuition increases of up to 28 percent for the next academic year following the phaseout of government subsidies.
The biggest hike is for grade one in primary schools, where the fee will be increased from HK$78,700 to HK$101,000 in September, the Hong Kong Economic Journal reported on Wednesday.
The government has decided to phase out subvention to the ESF over a period of 13 years starting in 2016. Assistance will continue for all students in years 2 to 13.
The ESF runs nine primary schools, five secondary schools and a special school that receive government subsidies.
Its private schools, Discovery College and Renaissance College, will also increase their fees by 6.6 percent and 6.2 percent respectively. Both have not received any subvention from the government.
The ESF runs four kindergartens. Their tuition will be raised to more than HK$70,000 in the next academic year.
The tuition at Abacus International Kindergarten in Clear Water Bay will be increased 7.7 percent to HK$84,000.
ESF chief executive Belinda Greer said the board and management of ESF schools had seriously considered the impact on parents before making the adjustments, adding that financial strength is very important to the group.
According to the ESF’s financial report, revenue from school fees rose 6.4 percent to HK$1.6 billion for the academic year 2014-15 from a year earlier.
The group’s net profit has reached HK$118 million for two years in a row.
The ESF is also planning to reconstruct the 50-year-old Island School at Mid-Levels at an estimated cost of HK$1 billion. The school could still receive government subsidy.
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