We are listening to our families and continuing to work hard to identify ways to make the educational experience at LEADPrep affordable and sustainable. This new program offers our families the opportunity to lock-in a guaranteed tuition rate during the years their student(s) are in a particular educational stage or division (Middle School or High School) through a Divisional Contract.
Several U.S. colleges and universities have adopted this innovative business model to help their students, and their families, with the rising costs of education. Committing to LEADPrep through a Divisional Contract is not only a financial benefit to your family, it is also a commitment to the consistency and effectiveness of a LEADPrep education. The alignment of learning across grades within and across an educational stage, or a division, is key to a student’s overall educational experience.
Below you will find a graph representing LEADPrep’s Tuition Guarantee Program and the savings it provides our families. The graph depicts a comparison between LEADPrep’s Divisional Contract and its more traditional annual contract. The seven-year data collection reflects a nominal annual tuition growth of 4% each year, starting in 2021-22 running through the academic year of 2027-28.
By the Numbers
Divisional Contract Lock-in 2021-22 Tuition by Grade Level
MIDDLE SCHOOL DIVISION—Potential savings by starting grade
HIGH SCHOOL DIVISION—Potential savings by starting grade
Frequently Asked Questions
What is the difference between a Divisional Contract and Traditional Annual Contract?
Traditional Annual Contract is the historical contract agreement we have had with our families. It is a one-year, binding contract with the parents/guardians and their student for a single school year. The traditional Annual Contract will reflect an annual increase of 4%.
Divisional Contract is a new, optional contract agreement families will be able to choose beginning in the 2021-2022 re-enrollment season. A Divisional Contract is a multi-year agreement in which parents enroll their student for the duration of the student’s grade level division (middle school or high school) and LEADPrep agrees to honor the tuition cost at the time of signing for the duration of the contract.
Do I have to pay the whole multi-year contract at once?
No. Payments will still be for one year at a time. Payments will continue to be options of annual, quarterly, or monthly.
How does the Tuition Guarantee Program work?
Families may choose to opt in to a Divisional Contract (and, therefore, a set tuition rate), rather than the traditional Annual Contract, which will remain in effect for the years the student is in the division. When the student is promoted into the next division, our families will have the choice to opt in to a new Divisional Contract for those upcoming years in that next division or choose a traditional Annual Contract. Tuition may be paid annually or throughout the year, in the same way our annual contracts are paid.
- Middle School Division: Sixth-eighth grade (three-year term)
- High School Division: Ninth-twelfth grade (four-year term)
What are the benefits of the Tuition Guarantee Program and how much will this save me?
A family will know the total tuition cost for the years their student(s) stay(s) in the division. For a student enrolled in the program from 6th through 12th grade, the cost savings for that family is estimated to be just over $10,000 per student.
How do I qualify for a Divisional Contract?
For a family to qualify for a Divisional Contract, they must be planning to stay at LEADPrep for the entire divisional term (middle school or high school). If a family expects to apply out each year, they will need to choose a traditional Annual Contract. If a family applies out in a year they have selected a Divisional Contract, the contract will automatically convert to an Annual Contract for the entirety of the term at the higher tuition rate, and additional charges could apply.
What happens if a student leaves LEADPrep, only to return later?
Students who leave LEADPrep for extenuating circumstances, and then return, would have the option to continue to pay the same tuition rate upon their return to LEADPrep, if they return within the same division. If they return and the student is enrolled in a new division, then new tuition rates would apply. Extenuating circumstances would include:
- a move outside a 35-mile radius of the school;
- identified learning differences the school has determined are unsupportable;
- severe medical condition of the student that prevents attendance;
- death of a parent or the student.
What happens if I have a job loss during the term of the contract?
If a family suffers a financial hardship for any reason, they should contact the school to discuss the tuition assistance program. The school will always first consider its ability to support a family through available funds from this program.
Would my family still be eligible for tuition assistance if we choose a Divisional Contract?
Choosing a Divisional Contract will not impact a family’s eligibility for tuition assistance. The Tuition Assistance program will continue to be an annual evaluation of a family’s represented need for the upcoming school year. As such, you will continue to apply for assistance each year, and awards will be determined, and tuition adjusted annually, based on the school year and the amount awarded.
What if I choose to leave LEADPrep and don’t qualify for release for extenuating circumstances?
The Divisional Contract is a long-term contract, and if a family does breach the contract terms before the term ends, the contract will automatically convert to an Annual Contract for the entirety of the term at the higher tuition rate. While there is no penalty for breaking the contract, the family will be expected to pay back the difference between the Divisional Contract and Annual Contract. Administration fees may also apply.
Why can’t LEADPrep lock in tuition for a student for their entire seven-year experience?
As noted above, our tuition model must be a sustainable model for the school to ensure the excellence that you have come to expect. Because we must attract and retain quality faculty and staff, a lock-in tuition rate across an entire seven-year timeframe isn’t a sustainable option for the school. Our families’ tuition dollars make up as much as 93% of our entire annual revenue budget. Salaries and the corresponding benefits make up as much as 75% of our operating costs each year. Increasing costs for these line items, alone, prevent us from making this a feasible option at this time.
How can LEADPrep offer this program without a sacrifice to its cash flow, educational excellence, quality faculty and staff, and current or new, innovative programming?
Our efforts in evaluating this new Divisional Contract option has been focused on ensuring this is a sustainable model for the school both now, and into the foreseeable future. We completed conservative-financial modeling scenarios that look forward, years into the future, to ensure we will be able to continue the quality, growth, and innovation you have come to expect.
Rest assured, there was never a scenario that included increasing class sizes or current optimal enrollment levels. These models included anticipated salary and benefit increases, possible new programming, and other factors critical to a healthy school.