Did you know that 51 private schools in Abu Dhabi will hike school fees for the academic year 2016-2017, as approved by the Abu Dhabi Education Council? Earlier this year, the Knowledge and Human Development Authority (KHDA) also approved an increase of 3.21% – 6.42% in private school fees in Dubai, based on KHDA ratings.
Besides tuition fees, parents also have to pay for transportation or bus fee, books, uniforms, stationery and other school supplies. So how do you manage these education expenses with ease? Below is a list of credit cards and offers from banks to help you manage your kids’ school fees payments conveniently.
NBAD Gems Card
- The NBAD GEMS MasterCard Credit Card offers up to 7% discount on advance payment of tuition fee at any of the 29 GEMS schools in the UAE.
- You can also convert your fees payment into a 0% easy payment plan for 12 months.
- This card also provides an Education Protection Coverage of up to AED 500,000 per child at a nominal fee of AED 28 per month. This covers your child’s school fees payments in case you are unable to meet them due to unforeseen circumstances.
- Keep in mind this card is only for those whose children are enrolled in one of the Gems schools.
NBAD Aldar Academies Card
- NBAD Aldar Academies Visa Platinum Card is specifically designed for those who are enrolled in Aldar Academies schools.
- This card gives you a chance to win back up to 50% of school fees when you use your credit card. Every fee payment transaction gives you one entry into the draw.
- You can convert your child’s school fee transactions to 0% easy payment plans of up to 18 months.
- This card also provides Education Fee Protection Coverage of up to AED 500,000 per child.
Standard Chartered Titanium Card
- Standard Chartered Titanium Card offers cashback of up to 10% on your school fee payments. All you have to do is spend a minimum of AED 2,500 per month on your card. You get cashback in the form of cashback points up to a maximum of AED 400 per month.
- You also have the option of converting school fee payments into easy monthly installments on your credit card at 0% interest for up to 12 months. You will also receive 10% cashback on the installment amount.
- The EMI option can also be availed if the school does not accept credit card payments. In this case, you will be provided with a cheque addressed to the school and you can pay back the bank in 6 or 12 equal monthly installments.
Credit Card Offers
Here’s a look at various offers from banks in the UAE, that will make school fee payments a whole lot easier for you!
- Get 10% cashback on all school fee spends above AED 2,500, when you use your Emirates NBD credit card. Cashback will be rewarded in the form of credit card reward points up to a maximum of AED 500. To opt in, SMS ‘School’ to 4456. You can also convert your fee payments into a 0% installment plan of 3, 6 or 12 months. However, there will be a one time processing fee based on the tenor you choose. This offer is valid till 30 September 2016.
- Convert the school fees payments into 0% easy monthly installments for 3, 6 or 12 months with your ADCB credit card. Keep in mind there is a processing fees of up to 2.5%. This offer is valid till 15 September 2016.
- RAKBANK customers can avail the Credit Card Cheque facility to pay school fees. This facility allows you to pay your child’s school or college fees with the help of a credit card cheque issued by RAKBANK. You can then pay back the bank in interest free easy monthly installments. Remember, a processing fee may apply on your transaction. This offer is valid till 30 September 2016.
- Get a chance to win back your child’s school fees of up to AED 30,000 with RAKBANK’s Dream it Live it promotion. Simply use your RAKBANK MasterCard Credit Card for all your purchases. Get two entries into the draw for every AED 200 spent on domestic retail purchases, online transactions or cash advances. Get four entries into the draw for every AED 200 spent on international retail purchases, online transactions or cash advances. Get one entry into the draw for every AED 200 of balance transfer, credit card cheque and smart cash. The draw is held every two months.