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ESF fees - from SCMP
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| posted by Patrick Bateman 75 days ago |
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"And why is ESF charging parents the September fee three months in advance?
One professor at a local university, for example, cannot afford the fees for three children in ESF schools and is prepared to leave Hong Kong. A construction professional who has been contributing to Hong Kong for more than a decade has to leave for the same reason. What impact is the departure of these talents having on Hong Kong?
Many ESF students are from South Asia and they have no alternative to ESF. How can Hong Kong develop into an international city without affordable and quality education in English?"
Moral of the story.....
use contraceptives!
Sabrina, don't just stare at it. Eat it.
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| posted by T Bone 75 days ago |
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I don't know.
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| Junior Member |
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| posted by hkJay 75 days ago |
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ESF - a bunch of thieving tw@s!
My son is going into the local system (but studying in English and learning Cantonese & Putonghua - - - His teachers reckon he'll breeze the GCSE exams (if he chooses to take such later on)!
to be, or not to be, what was the question?
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| The Designer |
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| posted by HKBloke 75 days ago |
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In comparison to the UK education in HK is great value - excluding state education in the UK obviously which in general these days is not really the kind of education you would want your kids to have.
Even more so if you take into account the difference in tax rates.
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| posted by hkJay 75 days ago |
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True, but I don't think the ESF needs to ask for Sept fees now - or needs a fee hike.....further to this, they've got approx 500 million HKD stashed away!
to be, or not to be, what was the question?
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| posted by Beer Boy 75 days ago |
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my eldest will be going to a Co-ed in September, which at $2300 a month I don't think is at all bad
I am aspiring to be just OK!
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| The Designer |
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| posted by HKBloke 75 days ago |
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I think the 'pre-pay' thing is more to do with people getting places and not taking them up. It's just like a deposit. Again I don't have a issue with it. You don't pay EF fees in July & August normally so it doesn't affect monthly cash-flow.
bottom line - with the excess of demand and shortage of supply i'm surprised ESF have not been even more commercially aggressive.
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| posted by hkJay 75 days ago |
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HKBloke - was thinking the same RE 'holding places' for the post summer hols term...and although I don't think ESF is 'cheap', it certainly isn't as expensive as, say, German Swiss school or HKIS.....
to be, or not to be, what was the question?
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| posted by HKBloke 75 days ago |
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actually the premium for GSIS is not as much as people think given the smaller classes, better teachers and better facilities. Personally I think GSIS is the best value education i have ever come across.
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| Junior Member |
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| posted by hkJay 75 days ago |
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is there a 'debenture' for GSIS? What are the monthly/term fees? About 7k/month?
to be, or not to be, what was the question?
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| posted by CwbGuy 75 days ago |
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Quality education in HK is still very cheap by international standards.
As PB pointed out, if you can't afford to have kids, use contraceptives! It's not as if the world needs more people in it anyway.
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| Junior Member |
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| posted by hkJay 75 days ago |
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? more like if you can't afford to have kids.....in hong kong......it's a little broader than that CG
to be, or not to be, what was the question?
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| posted by Zebedee 75 days ago |
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Agree with HK Bloke, I pay for 3 x Kids at ESF, think the fees (even after recent hike) are more than reasonable for the quality of education they provide. The pre-pay thing is definitely to reserve spaces.....and the HK$550M reserves, with something like 13-14 buildings to operate / maintain, higher teacher salaries and other necessary services, I imagine that figure is 'months' of outgoings rather than 'years' but I imagine that could easily be verified.....
Whatever...
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| Senior Member |
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| posted by Paps of Jura 75 days ago |
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quote:
Originally posted by HKBloke
In comparison to the UK education in HK is great value - excluding state education in the UK obviously which in general these days is not really the kind of education you would want your kids to have.
Even more so if you take into account the difference in tax rates.
Errrr I would beg to differ most people posting on this board would have had state education and none of us have done too badly
It's just some of the inner city schools are s**te but I still belive the state system in the UK can give a decent education if the parents are also playing an active role in supporting and educating
Dib Dob nib knob
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| posted by Zebedee 75 days ago (edited 75 days ago) |
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Here you go, link to Audited Accounts of ESF from year end August 2007:
http://www.esf.edu.hk/FileManager/EN/Content_34/esf%20independent%20auditors%20report%200607.pdf
Few Highlights:
- HK$1,177M income, includes HK$266M (or 22%) from our lovely government.
- HK$1,120M expenses, HK$57M transferred to General Reserve.
- HK$904M (81%) expenses on salaries + benefits.
- HK$558M reserves, equivalent to less than six months expenditure.
- HK$70M on depreciation.
- HK$11.3M increase from ESF Educational Life, extra curriculum activities kids do
- ESF owns 202 Housing Units for Staff (Value HK$1.13B but net book value of HK$16.5M)
- Schools built on leased land provided by government, FREE of premium
I'd say, pretty reasonably run operation.......
Whatever...
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| The Designer |
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| posted by HKBloke 75 days ago |
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quote:
Originally posted by Paps of Jura
quote:
Originally posted by HKBloke
In comparison to the UK education in HK is great value - excluding state education in the UK obviously which in general these days is not really the kind of education you would want your kids to have.
Even more so if you take into account the difference in tax rates.
Errrr I would beg to differ most people posting on this board would have had state education and none of us have done too badly
It's just some of the inner city schools are s**te but I still belive the state system in the UK can give a decent education if the parents are also playing an active role in supporting and educating
Don't agree. State education in the UK now is a (VERY) pale impersonation to that you could get 20-30 years ago.
I do not believe it is easy to get a good free education these days.
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| The Designer |
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| posted by HKBloke 75 days ago |
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quote:
Originally posted by Zebedee
Here you go, link to Audited Accounts of ESF from year end August 2007:
http://www.esf.edu.hk/FileManager/EN/Content_34/esf%20independent%20auditors%20report%200607.pdf
Few Highlights:
- HK$1,177M income, includes HK$266M (or 22%) from our lovely government.
- HK$1,120M expenses, HK$57M transferred to General Reserve.
- HK$904M (81%) expenses on salaries + benefits.
- HK$558M reserves, equivalent to less than six months expenditure.
- HK$70M on depreciation.
- HK$11.3M increase from ESF Educational Life, extra curriculum activities kids do
- ESF owns 202 Housing Units for Staff (Value HK$1.13B but net book value of HK$16.5M)
- Schools built on leased land provided by government, FREE of premium
I'd say, pretty reasonably run operation.......
What i have never understood is why they need the 22% from the government. The class sizes in the ESF schools are higher than those in the International schools which means their 'income per teacher' or 'income per classroom' is much higher - so why do they need the subsidy, unless of course they significantly over-pay the teachers.
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| Senior Member |
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| 11931 Posts |
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| posted by Load Toad 75 days ago |
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I don't know about that but at ESF you have a lot of kids whose parents could not afford to pay international fees (me being one) but can not have the kids taught in Cantonese as it is not by far their mother tongue or one they are competent in.
Average by Intention.
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| Newbie |
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| posted by Zebedee 75 days ago |
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HK Bloke - yup agree, having that 22% subsidy seems to 'strangle' them in so many ways....with the demand, I believe they could easily ditch-it, make some key changes and completely operate as a private company. Having said that, they wouldn't get land, free of premium for new schools, which is actually a HUGE deal when you look at land premiums developers have to pay. Possibility they would also have an issue with the 202 Mortgaged Properties they own, as Banks prolly see that as safe government backed debt in current form. Hmmm....
Whatever...
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| posted by sunwaterandsky 75 days ago |
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Actually Z, they would get the free land premium. All of the International schools are eligible for that. They have to provide education that is available to local students as well. That is why schools such as GSIS, FIS and KIS all have English streams.
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| Junior Member |
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| 592 Posts |
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| posted by 2hot2handle 75 days ago |
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ahem its NOT available to MANY locals thats for sure
i find the rates already completely choking
Ex Freak on a Leash & Killer Tomato Soup, sorry but had to change as was being chased down by the spelling bee masterchampionships
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