 |
What is financial aid? | ||||||||||||||
 |
Financial aid is based on a family’s ability to pay. TrevorDay School considers financial need to be the difference between what it costs to attend Trevor and a family’s ability to pay tuition; financial aid is not a loan. Through its FinancialAid Program, the School supports qualified familieswho are unable to pay the full tuition. Financial aid awards are based on a percentage of tuition and not a set dollar amount. Consequently, the amount a family pays each year is likely to increase. | ||||||||||||||
| |
What does a Trevor education cost for the 2007-2008 academic year?
Tuition is comprehensive and includes lunch for grades 1 - 12; there are no additional fees. Please note, however, that all students in Grades 5 - 12 are required to purchase a laptop computer, which is an additional cost ranging from $1,500 to $1,800. Families are responsible for home internet connections and their respective fees. The percentage of financial aid a family receives applies to the purchase of the laptop computer as well as to most Trevor AfterSchool Programs. |
||||||||||||||
| |
How often does tuition increase and by how much? How will this increase impact our financial aid award? | ||||||||||||||
| |
Historically, tuitions at New York City independent schools have increased each year by approximately 5% in order to cover increasing personnel and program costs. The Financial Aid Committee assumes that a family’s income also increases on an annual basis, and therefore the financial aid percentage a family receives generally remains the same from year to year. | ||||||||||||||
| |
How do we know if we qualify for financial aid? Who is awarded financial aid? | ||||||||||||||
| |
Few families find it “easy” to pay independent school tuition. Most families adjust their spending priorities, maximize parents’ earnings, and carefully manage assets to do so. Providing firm guidelines to help a family decide whether to apply for financial aid is difficult because each family’s combination of circumstances is different. The Financial Aid Committee’s awards are based on many different factors. Among those factors considered are income, assets (including home equity, college funds and investments), family size, and the number of children attending tuition charging institutions. If a family thinks they will need financial aid, they must apply at the time of admission to be considered for financial aid. | ||||||||||||||
| |
Should we delay applying for financial aid until after our child has been accepted so he / she has a better chance of being admitted to Trevor? | ||||||||||||||
| |
No. Financial aid will not be available to families if they have enrolled at Trevor without financial aid. Trevor assumes families applying for admission have honestly and carefully evaluated their own capacity to pay tuition. In addition, the School seriously considers each family’s financial picture when deciding on financial aid awards and assumes each family has provided an honest assessment of their ability to pay tuition. | ||||||||||||||
| |
How does the Financial Aid Committee determine our financial aid award? | ||||||||||||||
| |
Families submit a Parents’ Financial Statement (PFS) to School and Student Service for Financial Aid (SSS) in Princeton, New Jersey. (Separated and/or divorced parents must each submit a PFS form.) SSS uses the submitted information to generate a Family Report that summarizes a family’s financial situation. Trevor receives a copy of this report and uses the information, in addition to other factors, to determine a family’s financial aid award. | ||||||||||||||
| |
What does Trevor expect of families and students who receive financial aid? | ||||||||||||||
| |
Financial aid is awarded on the basis of a family’s ability to pay. Trevor believes all families should contribute to their child’s educational expenses. In addition, the School expects all students, whether or not they receive financial aid, to maintain the strong academic and personal qualities that led to their admission. | ||||||||||||||
|
What if a spouse does not work? | ||||||||||||||
|
Trevor believes that families should bear the primary responsibility for financing their children’s education and therefore we expect that both parents will contribute financially. Each application is evaluated individually. | ||||||||||||||