After the student is admitted to Ayb School, a parent/trustee applies to the financial support committee with a report on the family’s financial standing and a number of relevant documents on the family’s real income, expenses, information about property, as well as the other data that can help the committee properly assess the family’s financial status.
The decision is based on the following:
· The parents’/trustees’ ability to meet payments. Parents are viewed as the most probable sponsors and first of all their financial status is assessed. Let’s mark it as X.
· Possibility of getting financial assistance from immediate family or friends.
If, according to the documents submitted to the committee, the family can get financial support from kinfolk or friends, it will be taken into consideration. For example, if the application says the aunt covers the expenses for the children’s summer holidays, it’s assumed that the aunt can share the expenses for the children’s education as well. Or, if the documents say that the house estimated at USD 200,000 was bought for the family by the grandparents, it’s assumed that the grandparents are capable to cover the children’s tuition fee.
Let’s mark the possible assistance from relatives and friends as Y. After calculating the X+Y amount, the committee decides on the Z sum that will be transferred to Ayb School to cover the required part of the tuition fee for the student. The Z sum can start at AMD 10,000 up to the whole fee reimbursement.
Attention։ If the figures provided in the application prove to be false at any time, the student is immediately dismissed without exception.
To ensure the transparence of the financial support committee’s activity, the names of all students, who are granted scholarship, are being published on the school website. The scholarship fund sponsors get relevant reports as well.
Attention: The Ayb School Board of Trustees can review the scholarship size for each student every year.