Reduction for early full payment of your fee for MathPath 2015
4800 – .02 x 4800 = 4800 – 96 = 4704.
Admission to MathPath does not hold a spot. We do rolling admissions and only a payment guarantees a spot as camp fills up. So upon receiving word of admission (but not before!), parents/guardians should promptly submit payment along with the registration form.
The minimum payment is a deposit of $1000. The rest of the fee need not be paid until May 31. However, it is advantageous to parents to pay in full right away, because then you get a nice early-payment reduction. Namely, for each full month prior to May 31 that your full fee is received, there will be a 0.5% reduction. Almost all families take advantage of this option.
We have not set our full fee for 2015 yet. For the sake of providing illustrations below we assume that the full fee will be $4800.
Example. Suppose your daughter is admitted in early January, and you are
prepared to mail your full payment postmarked on or before January 31,
which is 4 full months before the May 31 due date.
If your full fee is $4800,
then you need only pay
Now suppose that your full fee is only $4550, because your daughter received an AMC8 pefect score
Then in January you need only pay
(4800-250) – .02 x (4800-250) = 4550 – 91 = 4451.
Worried about paying early because you don't know yet if you qualify for
a merit scholarship? This could happen, for example, because you pay before your MATHCOUNTS State meet.
and pay. Show us by May 31 that you have qualified for one of our
merit scholarships and the scholarship amount will be moved to your camp spending account, or refunded.
Worried about paying early because later you may decide not to attend MathPath? The same policy applies to refunds of early full payments as applies to deposits. You get everything except $100 back. See Refunds for details and special cases.
Worried that you won't be able to take full advantage of the early payment reduction because you have requested financial aid, which requires your sending us your tax forms, which you have not prepared yet? Say we admit your son or daughter in February and offer financial aid.
We will usually allow you to estimate key tax form amounts (perhaps by using your previous year tax forms),
from which we will make a conservative (over)estimate of your fee.
If you pay that estimated amount in February you will get the February early-pay reduction. Later
when you submit your actual current year tax forms, we will compute your exact fee, which will usually
result in a refund to you (which may be moved to your son or daughter's camp spending account) but which could result in an extra payment (if your 2013 taxable income was greater than expected). Refunds would be at the February rate, extra payments at the current month rate; we will explain this in more detail when it happens.
Can you just pay at the time you apply and get a really good reduced rate by paying so early?
Answer: No. We can only be so generous, and besides there is no guarantee that your application will lead to an admission. We accept no payments in advance of admission.
Questions or concerns? Send email to our Academic Director.