Payment Policy

1. Fee Structure

1.1 Types of Fees

1.2 Academic Year

The academic year at Maitreya School runs from April to March. Fee structure is generally announced before the start of the academic year and remains valid for the entire year unless revised with prior notice.

2. Payment Schedule and Due Dates

2.1 Quarterly Payment Schedule

2.2 Half-Yearly Payment Schedule

2.3 Annual Payment

Parents opting for annual payment can pay the entire year's fee by April 10th of the academic year. A discount of 2% may be applicable for annual payment (subject to school policy).

3. Late Payment Penalties

3.1 Late Fee Structure

3.2 Consequences of Non-Payment

• Reminder: First reminder will be sent via diary/SMS after 15th of the month.
• Second Reminder: Second reminder will be sent via phone call after 20th of the month.
• Final Notice: Final notice will be issued after 25th of the month.
• Suspension: If fees remain unpaid beyond the current month, the student may be suspended from attending classes until full payment (including late fees) is made.
• Withdrawal: Continued non-payment for two consecutive months may result in the student's name being struck off the rolls. Re-admission, if permitted, will be treated as a fresh admission with applicable fees.

4. Accepted Payment Methods

5. Payment Guidelines

• Always obtain a receipt for any cash payment made at the school office.
• For cheque payments, please write the student's name, class, and contact number on the reverse of the cheque.
• Cheque bounce charges (₹500) will be borne by the parent/guardian.
• Online payment receipts will be sent via email/SMS. Please save them for future reference.
• In case of any discrepancy in fee amount, please contact the accounts office immediately.
• Parents are advised to pay fees well before the due date to avoid last-minute technical issues.

6. Fee Revision

Maitreya School reserves the right to revise the fee structure at any time. In case of fee revision:

• Parents will be notified at least one month in advance through written communication/diary/SMS.
• The revised fee structure will be applicable from the date mentioned in the notice.
• Fee revision, if any, is generally implemented at the beginning of the academic year.

7. Scholarships and Concessions

7.1 Merit Scholarships

Merit scholarships may be awarded to outstanding students based on academic performance. Details are announced during the academic year.

7.2 Sibling Concession

A concession of 5% on tuition fee is available for the second child of the same family studying in Maitreya School.

7.3 Staff Concession

Children of school staff may be eligible for fee concession as per school policy.

7.4 Economic Weaker Section (EWS)

Concessions for EWS students are provided as per government norms and school policy.

Note: All scholarships and concessions are subject to verification and approval by the school management.

8. Transportation Fee

8.1 Calculation

Transportation fee is calculated based on the distance from the student's residence to the school and the route availability.

8.2 Payment

Transportation fee can be paid monthly, quarterly, half-yearly, or annually along with tuition fees.

8.3 Refund

If transportation service is discontinued by the parent, one month's notice is required. Refund for unused months will be provided after deducting notice period charges.

9. Caution Money / Security Deposit

• Caution money is collected at the time of admission and is refundable at the time of withdrawal.
• No interest is paid on caution money.
• Refund is processed within 45-60 days after all school dues are cleared and formalities completed.

10. Digital Payment Receipts and Records

For all digital payments, an automated receipt will be generated and sent to the registered email ID and mobile number. Parents are requested to:

• Keep the receipt for future reference
• Check the school diary or parent portal for fee records
• Report any discrepancies within 15 days of payment

11. Fee Dispute Resolution

In case of any dispute regarding fee amount, payment, or related matters:

1. Contact the class teacher or school accounts office for clarification
2. If not resolved, escalate to the Principal in writing
3. The decision of the School Management Committee shall be final and binding

12. Important Notes

• Fees once paid are non-refundable and non-transferable (except caution money as per policy).
• The school is not responsible for any delay in online payments due to technical issues from the bank or payment gateway.
• Parents should update any change in contact details to ensure timely receipt of payment reminders and receipts.
• This policy may be amended from time to time. Please check the school website for the latest version.

13. Contact for Payment Related Queries

For any questions regarding payments, fee structure, or receipts, please contact:

• Email: accounts@maitreyaschool.com
• Phone: +91 9470110488 (Ext: 105 for Accounts)
• Office Hours: Monday to Friday, 9:00 AM to 2:00 PM