Private school education can be a significant investment, but financial aid can make it more accessible. Many private schools offer financial aid to families who demonstrate need, but navigating the application process can be complex.
Understanding Financial Aid
Financial aid at private schools typically comes in the form of grants (which don’t need to be repaid) based on a family’s demonstrated financial need. Some schools may also offer scholarships based on merit.
Start Early
The process for applying for financial aid should begin around the same time as the admission process. Financial aid deadlines often align with admission deadlines, so it’s important to start early.
School’s Financial Aid Policy
Each school has its own financial aid policies, so start by familiarizing yourself with these policies. This information can often be found on the school’s website or by contacting the school’s financial aid office.
Completing the Financial Aid Application
Most private schools in the United States use the National Association of Independent Schools’ (NAIS) Parents’ Financial Statement (PFS) to assess a family’s ability to pay for education. The PFS asks for information about your income, assets, expenses, and liabilities. Some schools may have additional forms or require supporting documentation like tax returns.
Understanding the Financial Aid Decision
Financial aid decisions are typically made by a financial aid committee at the school. They consider your PFS, their policies, and their budget. If you are awarded aid, the offer is typically included with your acceptance letter.
Negotiating Aid Offers
If your financial circumstances change or the aid offer doesn’t meet your needs, some schools are open to discussion. However, this should be approached respectfully and with clear documentation supporting your request.
In summary, when applying for financial aid at private schools:
• Start the process early, typically in alignment with the admission process.
• Familiarize yourself with each school’s financial aid policies.
• Complete the financial aid application, usually including the NAIS’ PFS, along with any required supporting documents.
• Understand how financial aid decisions are made.
• Know that there might be room for negotiation, should the aid offer not meet your needs.
Remember, financial aid is a tool designed to make private education accessible to a wider range of families. Don’t hesitate to ask questions and seek help throughout the process – schools are generally eager to assist families in navigating this path.
