Financial aid can be very confusing for many parents. You wonder whether you make too much to be eligible. Is there a specific time when you apply? Here are five facts most of us didn't know about private school financial aid.
1. You have to apply for it.
Applying for financial aid at most private schools is a separate process from applying for admission to the school. You also need to make sure that you apply early. This is particularly important if the school has no specific admissions deadline or rolling admissions.
2. You may be eligible for free tuition if your family income is below a certain amount.
Exeter, Andover, Groton, St. Paul's, and Deerfield all have financial aid programs that offer a tuition-free education to admitted students whose income is below a certain threshold. The threshold varies but is in the $60-75k range.
This video reports of free private school tuition.
"Exeter offers $25 million annually in need-based financial aid. Tuition-free attendance is available for families with incomes below $75,000."
3. There is a common application form.
Many private schools use a common financial aid form. This vastly simplifies the process of applying to several schools. You will have to fill out the Parents' Financial Statement (PFS) online at www.nais.org/financialaid/sss. You can also complete a paper version of this application. This will