Tuition and Fees for 2020-2021

 

Application Fee: KRW 300,000 or USD 300
– Non-refundable, only valid for the school year for which the application is submitted.
– Must accompany application forms.

 

Enrollment Fee: KRW 500,000
– One time only fee for all students entering the school.

 

Technology Development Fee: KRW 2,000,000
– One time only fee for all students enrolling or entering into Kindergarten class or higher.

 

Capital Development Fee
This fee assists in covering the maintenance and improvement of facilities and infrastructure.

 

Non-refundable fee for all new students	KRW 2,000,000
Non-refundable fee for all returning students	KRW 1,000,000

 

School Fees : All Students

 

 

 

 

 

 

Refund

 

When applicable, refund of fees will be applied as follows : 1) During the 1st Semi-Annual : If full year prepaid, 1st Semi-Annual school fee rate will be charged and the balance will refund 2) 1st half of a Semi-Annual : prorated refund, minus 10% administration charge. 3) 2nd half of a Semi-Annual : No refund.
Term of SY 2020-21
Annual: 10-Aug-2020 ~ 11-Jun-2021
1st Semi-Annual			2nd Semi-Annual
1st half	2nd half		1st half	2nd half
10-Aug-2020 ~ 23-Oct-2020	24-Oct-2020 ~ 15-Jan-2021		18-Jan-2021 ~  7-Apr-2021	8-Apr-2021 ~ 11-Jun-2021

 

Payment of School Fees & Instructions

 

Please note that the school requires that payment of tuition be made in BOTH currencies (Korean won and US dollar) in the amounts billed.

 

Payment can be made by (1) bank transfer to the KEB Hana Bank account number on your student’s tuition and school fees invoice (different account by currency), (2) in cash paid at the Finance office. Please do not mail cash. Parents are responsible for all bank fees, charges and clearing costs.
Please include name of child / invoice number so that we may identify your payment.

 

(1) bank transfer
Please ensure the student’s name and(Or) student’s number are referenced on your remittance to enable us to credit the student’s account accordingly. An invoice showing Tuition and other Fees billed, as well as the respective account numbers by currency will be provided by the Finance office. Kindly email your bank confirmation advice to finance@isbusan.org. Please use the following bank details.

 

Bank Name	KEB Hana Bank
Branch Name	Jangsan-yeok Branch
Account Number (KRW Account)	329-890010-46004
Account Number (USD Account)	329-890023-76438
SWIFT Code	KOEXKRSE
Bank Address	48, Sesil-ro, Haeundae-gu, Busan, South Korea 48110
Bank Contact	Tel: +82 51 722 1111 Fax: +82 51 702 8633
Beneficiary Name	Busan International Foreign School (부산국제외국인학교)
Beneficiary Address	50 Gijang-daero, Gijang-eup, Gijang-gun, Busan, South Korea 46081
Beneficiary Contact	Tel: +82 51 742 3332 Fax: +82 51 742 3375

 

(2) in cash
Please keep the receipt after you made the payment. Please be advised that school has the right to request your receipt as proof of payment.

 

  

Payment Due Dates

 

(1) RETURNING STUDENTS

1.	To continue enrollment at Busan International Foreign School in the 2020-21 school year, any amounts owed for the 2019-20 school year or for any previous academic years must first be cleared. A non-refundable re-enrollment payment of KRW 2,000,000 must be made on or before February 23, 2020. The re-enrollment payment will be applied to tuition due for the 2020-21 school year.
2.	The first invoice (all payment types) for 2020-21 academic year is due on or before July 31, 2020
3.	The second invoice (2nd Semi-Annual) for 2020-21 academic year is due on or before January 10, 2021

 

(2) NEWLY ENROLLED STUDENTS

Payment of all tuition and fees is due as per the tuition and fee statement forwarded to your email account.

 

(3) LATE FEES

A late fee for the outstanding balance can be charged for any payments received after the applicable due date. 

 

(4) OUTSTANDING PAYMENTS

Students with outstanding accounts may have their school attendance privileges revoked by the school until such time as their accounts are current. If any payment remains upon withdrawal from the school, no transcripts, transfers, or other records will be released until full payment is received.

 

PLEASE NOTE: In the event of FORCE MAJEURE, which causes a student or students to withdraw from the School, tuition and fees already paid for the school, and normally partially refunded in accordance with the Refund Policy, will not be refunded and any tuition and fees that are unpaid will be due and payable. Force majeure is defined as an event or effect, such as war, civil strife, labor unrest, or extreme weather, that cannot be reasonably anticipated or controlled by the school and would adversely affect the school`s financial condition. This policy is necessary to ensure the financial stability of the School and to provide resources for continued operations after the force majeure event has passed. Appeals of the application of this policy in an individual case may be made to the Legal/Financial Committee of the Board of Governors of the International School of Busan.