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Practical Financial Information

Students' Finances

Learning how to manage money is one of the aspects of school life that students face when they first leave home. We offer a comprehensive form of financial assistance and are able to provide a pocket money management system where students are allocated a standard amount which is specified by you and transferred into their account every month.

Of course, we appreciate that unforeseen situations can arise and therefore in exceptional circumstances additional sums can be transferred on request from you, the parent. Detailed records of all the student's expenditure is maintained and made available to you at the end of each term. It’s a useful tool for keeping an eye on your child’s expenditure and it also enables you to see how well they can independently manage their financial situation.
This additional service is free of charge, although a minimum deposit of 1000 GBP is requested in order to establish an initial fund from which expenditure can be taken.

Borrowing/Lending Money

Students are recommended not to borrow from or lend money to other students. If additional (small) sums of money are required from time to time, it is usually better to approach the Housemaster/ Housemistress and request that the sum borrowed be added to the end of term bill.
It is also worth noting that gambling is illegal in the UK under the age of 18. Students above this age are strongly advised that time spent gambling can be far more productively utilised by studying to improve their examination performance.

Credit Cards

Students can bring international credit cards with them from abroad. However, as with all forms of plastic card, the safekeeping of them is very important. Any loss should be reported immediately, to both the card company and the Housemaster/Housemistress, as well as OPDS.

Payment for Additional Services Provided

Students are expected to pay for services provided at the time they are requested. Such services typically include payment for courses during the holidays from school/college, payment for return tickets home during holidays and payment for additional items to be purchased for the student. By granting us permission to access and use the student's funds, such transfers of monies are easily and speedily facilitated.

School Fees in Lieu of Notice

Parents should be aware that, once they have entered into an agreement with the school to provide education to their child, there is a notice period should they wish to withdraw the child from the school.
This notice period is usually one full term. If this notice period is given in writing no financial penalty will be incurred. However, if no such notice is given, the parents are liable for the sum of money as defined in the institution’s Terms and Conditions.

Insurance for Personal Possessions

Many institutions have agreements with large companies that will provide insurance for students against loss of or damage to possessions. Although standard policies are usually in force, covering the most likely items for students in this age group, a quote for more comprehensive cover can usually be obtained on request. You are strongly advised to consider taking out an insurance policy as items such as laptop computers, mobile phones, travel tickets, books, school uniform, jewellery, cameras and money do go missing or get damaged from time to time. Quotes can be provided by OPDS on request.

 

Aegis

OPDS is a wholly accredited member of Aegis, the Association for the Education and Guardianship of International Students.  As such, we offer the highest levels of care including well documented procedures and detailed record keeping.

London

40c Waddington Avenue
Old Coulsdon, Surrey CR5 1QF UK
Tel: 00 44 20 8660 8869
Fax: 00 44 20 8668 5585

 

Beijing

28G Tower C, Oriental Kenzo Plaza
No. 48 Dongzhimen Wai Street
Dong Cheng District
Beijing 100027, China
Tel: 00 86 10 8454 9302/03
Fax: 00 86 10 8454 9300