Free School Financial Contract Template
School Financial Contract
This School Financial Contract ("Agreement") is entered into by and between [Your Company Name] ("School" or "Institution"), located at [Your Company Address], and the student or their guardian ("Student" or "Guardian"), residing at [Student/Guardian Address]. This Agreement sets forth the financial obligations and expectations related to the student's enrollment and attendance at [Your Company Name].
1. Term of Agreement
1.1 Commencement: This Agreement ("Agreement") shall become effective on [Start Date], the date on which it is signed by both parties. The parties acknowledge that they have had the opportunity to review and negotiate the terms of this Agreement before signing.
1.2 Duration: This Agreement shall remain in effect for the duration of the academic year, starting from [Start Date] and ending on [End Date], unless terminated earlier in accordance with its terms. The parties may mutually agree to extend this Agreement in writing.
2. Tuition Fees
2.1 Total Tuition Fee: The total tuition fee for the academic year is [Total Tuition Fee], which includes all educational services provided by [Your Company Name]. The tuition fee is subject to change upon written notice from [Your Company Name].
2.2 Payment Requirement: Payment of the total tuition fee is required to secure enrollment and must be paid in full before the start of the academic year. Failure to pay may result in the student's exclusion from classes. Payment methods accepted by [Your Company Name] include cash, check, credit card, or electronic transfer.
3. Payment Schedule
3.1 Initial Payment: The Student/Guardian agrees to make an initial payment of [Initial Payment Amount] due on [Initial Payment Due Date] to secure enrollment. This initial payment is non-refundable and will be applied towards the total tuition fee for the academic year.
3.2 Subsequent Payments: Subsequent payments of [Subsequent Payments Amount] are due on the [Subsequent Payments Due Dates]. Late payments may result in additional fees, as outlined in the school's fee schedule. It is the responsibility of the Student/Guardian to ensure that payments are made on time to maintain enrollment status.
4. Additional Costs and Fees
4.1 Registration Fee: In addition to tuition fees, the Student/Guardian is responsible for a non-refundable registration fee of [Registration Fee Amount]. This fee is required to process the student's enrollment and covers administrative costs associated with registration.
4.2 Lab/Materials Fee: The Student/Guardian is responsible for a lab/materials fee of [Lab/Materials Fee Amount], which covers the cost of materials and equipment used in practical classes. This fee is non-refundable and is charged per academic year.
4.3 Other Fees: Other fees may include but are not limited to, technology fees, library fees, and extracurricular activity fees. These fees are outlined in the school's fee schedule and are non-refundable. It is the responsibility of the Student/Guardian to review the fee schedule and be aware of all additional costs and fees associated with enrollment.
5. Financial Aid and Scholarships
5.1 Availability: [Your Company Name] offers financial aid and scholarships to eligible students based on need and merit. The availability of financial aid and scholarships is subject to the school's budget and may vary from year to year.
5.2 Application Process: Students interested in financial aid or scholarships should contact the financial aid office for application instructions and deadlines. Applications typically require proof of income, academic transcripts, and a personal statement outlining the student's financial need and academic achievements.
5.3 Disbursement: Financial aid and scholarship awards will be disbursed according to the school's policy and schedule. Disbursement may occur in installments or as a lump sum, depending on the terms of the award.
6. Payment Plans
6.1 Offered Plans: [Your Company Name] offers payment plans to families who require financial flexibility. Payment plan options include monthly, quarterly, or semi-annual payments. The school's finance office can provide detailed information on available payment plans and their terms.
6.2 Approval Process: Interested parties must apply for a payment plan through the school's finance office. Approval is subject to review of financial information and payment history. The finance office may require additional documentation, such as bank statements or proof of income, to assess the applicant's ability to adhere to the payment plan.
7. Consequences of Non-Payment or Late Payment
7.1 Late Fee: A late fee of [Late Fee Amount] will be applied to any payment not received by the due date. This fee is intended to encourage timely payment and cover administrative costs associated with late payments.
7.2 Service Restrictions: Failure to pay tuition fees may result in restrictions on access to school facilities, services, and activities. This includes but is not limited to, library access, participation in extracurricular activities, and use of school equipment.
7.3 Withdrawal: If payment is not received within [Grace Period] days of the due date, the student may be withdrawn from classes. The school reserves the right to withdraw the student if payment is not received in a timely manner.
8. Termination of Agreement
8.1 Mutual Agreement: This Agreement may be terminated at any time by mutual agreement of both parties. Both parties must provide written notice of their intention to terminate the Agreement and agree on the terms of termination.
8.2 Non-Payment: If the Student/Guardian fails to make payments as outlined in this Agreement, [Your Company Name] reserves the right to terminate this Agreement and exclude the student from classes. This termination is effective immediately upon written notice to the Student/Guardian.
9. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the state in which [Your Company Name] is located. Any disputes arising under or in connection with this Agreement shall be resolved in accordance with said laws. The parties agree to submit to the exclusive jurisdiction of the state courts located in [State], [Country] for any legal proceedings arising out of or related to this Agreement.
10. Entire Agreement
10.1 Scope: This Agreement constitutes the entire agreement between the parties regarding the financial obligations related to the student's enrollment at [Your Company Name]. Any prior agreements, representations, or understandings, whether oral or written, are superseded by this Agreement.
10.2 Modification: Any modifications to this Agreement must be made in writing and signed by both parties. No waiver of any provision of this Agreement shall be considered a waiver of any other provision or of [Your Company Name]'s right to require strict observance of each of the terms herein.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.
[Your Company Name], represented by [Your Company Representative Name], [Your Company Representative Title], hereby affirms that all terms and conditions of this Agreement have been reviewed and agreed upon on behalf of [Your Company Name].
[Student/Guardian Name] acknowledges receipt of a copy of this Agreement and agrees to abide by all terms and conditions set forth herein. The Student/Guardian understands that failure to comply with any provision of this Agreement may result in disciplinary action, up to and including termination of enrollment.
[Your Company Name] and the Student/Guardian hereby acknowledge and agree that this Agreement constitutes the entire agreement between the parties regarding the subject matter herein and supersedes all prior or contemporaneous agreements, representations, warranties, and understandings, whether oral or written, relating to such subject matter.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may be executed and delivered electronically and in separate counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
School Representative:
By:
[Your Name], [Your Job Title]
[Your Company Name]
[Date]
Student/Guardian:
By:
[Student/Guardian Name]
[Date]
