Scholarships, Financing and Payment Plans: Paying for Independent Schools

An independent school education is an investment in a child's future. It is also a significant financial commitment. Regardless of your family's financial circumstances, it pays to learn more. An independent school education may be more affordable than families think. Most independent schools are committed to helping families find creative, manageable ways to pay for their child’s education. More than 150 million dollars is spent annually by DMV schools on financial aid. Financial aid takes many forms including:

Monthly tuition payment plans
Need-based financial aid awards

Education savings programs like 529 plans

Sibling discounts
Tuition loans

Scholarships and merit awards

Financial aid is usually awarded to families who demonstrate financial need. Financial need is defined as the difference between the cost of attending the school and the amount the family can afford. Ability to pay is determined based on confidential information provided by the family. Some schools do offer merit based financial aid or scholarships for students with unique needs (disability) and unique abilities (athletics/arts).

Before you apply for financial aid at any independent school, you will need to do your homework about its aid program. Some schools will have this information listed on their website; in other instances, you may have to ask a financial aid representative from the institution. Talking to a school’s financial aid representative is a always wise. He or she is your best resource for information about the intricacies of aid at the institution and will paint a much clearer picture of the process than you will get simply by reading the website.

Gross Household Income for families receiving Financial Aid.