I'm in the same position as you.I don't know what bullshit some comments have been made. There is no answer right now. As you have to leave Thailand and come back in on a 30 day/ tourist visa and then your school has to apply for the second year educational visa to immigration office.
That's a fact.
And right now you can leave but not re-enter the country.
I'm 46.5 years. I have been here for 1 year and 10 months. I have done border runs, check ins, then went on a years education visa. A year may cost you 50k including 90 day extensions X 1900, 3 of them. Are you guaranteed rules of elite visa won't change? My forecast is they will. Get to 44 and buy a 5 year elite visa. Then at 50 go do the retirement application??!!
Having said that I have 30 Thai stamps and feel like. On probation here. But I'm not parting with 500 k if I can avoid it!
I have been on tourist and education visas. I have 30 stamps and paper since November 18! Sick to death of reporting and going to immigration twice every 90 days. I'm 46 so Elite I would need for only 3.5 years. I worked out it's going to be 130,000 b for the next 4 years. 370,000 more.