Affording an Independent School

Independent schools rely on tuition, annual fund-raising and endowments to finance their programs. The mandate to provide the highest quality education means that tuition is expensive. An independent school education represents an investment in your child’s future. Parents are encouraged to ask schools about their financial aid policies.

Tuition
Tuition is the amount of money the school asks the parent to pay. Tuitions vary widely by grade and by school. When comparing schools, find out the hours of operation for each school, if before-school or after-school care is offered, and if there are additional fees for lunch, books, trips and other activities. Some schools offer tuition insurance for an additional fee.

Financial Aid
Financial aid is available at most independent schools. Financial aid is based on each family's unique financial situation; it is not a loan and does not need to be repaid. Most schools allot monies to their financial aid budget each year to help ensure a diverse student body. To apply for financial aid:

• Request each school's financial aid application and note the application deadline.
• Complete a Parents' Financial Statement (PFS) from School and Student Services by NAIS (SSS). Many schools ask applicants to submit a PFS as part of their application process - online submission is often preferred. The SSS website has a lot of general information about financial aid and tuition payment.
• Ask the financial aid officer at each school to answer your specific questions.
• Ask about additional funds. While most schools only offer need-based aid, some schools also offer special scholarships based on criteria other than economic circumstances. Merit scholarships are sometimes offered as are sibling discounts.