The Financial Crisis' Lack of Impact on IB Programs

Topics: International Baccalaureate, IB Diploma Programme, High school Pages: 3 (870 words) Published: May 18, 2011
How Come the Financial Crisis Did Not Affect the IB’s?
The past year everyone in Greece is complaining about the financial crisis that hit the country during the autumn of 2009. Although in the beginning most people believed that the country would be able to go through it without major problems, they were soon proven wrong. Not only Greece wasn’t able to manage the crisis but almost faced bankruptcy and had to go under the International Monetary Fund (IMF) in order to survive. The financial measures enforced by the IMF affected the financial situation of all citizens of Greece. Although the richest families even started facing financial problems, the number of students graduating from private schools not only did not have a decrease, but in contrast had a small increase. In Greece, in order to be sure one will study abroad, it would be best the student would follow the International Baccalaureate program, mostly referred to as IB. Since the first year the IB program came to Greece by Moraitis School (1984) the number of students deciding to follow it and go study abroad has been increasing steadily. But not only has the number of students graduating from private high schools increased, during a very severe financial crisis, but the percentage of students going to study abroad through the IB program has remained stable. Despite the fact that the tuition fees for the International Baccalaureate are more than those for the regular Greek high school program offered by private schools. During the academic years prior to the economic crisis, the IB program had a steady increase of 10% when it came to its students. More specifically the academic year 2006/07 the percentage of students attending the program was 50 % and a year later it had come to a total of 60%. A year later, the academic year 2008/09, the percentage of students rose to a 70% and as it was the year before the financial crisis hit the country, it was the last year there was an increase in the number of...
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