The COVID-19 pandemic has certainly presented numerous challenges for many parents around the world, as they juggle working from home and finding a new daily rhythm with family at home. As the school year wraps up and families start to look towards a new school year in the fall, many are facing an additional financial strain as newly announced registration fees for the International Baccalaureate (IB) program will kick in. A previously free, internationally recognized academic program, new fees were recently introduced to sustain the program.
This news concerned Toronto developer Capital Developments, who decided to step in and help close this gap. Capital Developments just announced that they’ll be giving an additional $500 subsidy to Grade 11 and Grade 12 IB students whose families fall within the $30,000 to $50,000 income range. This subsidy will help cover the balance of the $1,500 annual fee for the next school year for 56 families in Toronto, for a total contribution of $28,000.
“As a parent of an IB student myself, I know this program creates active and engaged learners. It’s had tremendous benefits on kids’ personal and academic development,” says Heather Grey-Wolf, Senior Vice-President of Development and Stakeholder Engagement at Capital Developments. “This subsidy will provide families with extra security heading into the Fall, preventing them from having to pull their children out of such an impactful program for purely financial reasons.”
Capital Developments is also currently working on the Bloor & Dufferin master-plan community in the west end, nearby a couple of schools that offer the program.
“We are so proud to be part of this initiative that is so close to home for us,” says Grey-Wolf. “As community-builders, it’s important to support and respond to the needs of our neighbours as they arise, which is important now more than ever.”
The deadline for financial aid applications has been extended to August 15th to ensure that all eligible families can apply.