Do I make too much money to qualify for financial assistance?

Do I make too much money to qualify for financial assistance?

Thursday, October 22, 2015 - 3:22pm
Written by 

This question is frequently on the minds of many families seeking independent schools for their children. However, many times it is not verbalized and families presume they do not qualify. The answer to this question may surprise you.

20% of our student body receives financial aid
According to a recent report published by by the National Association of Independent Schools (NAIS) entitled EMERGING TRENDS: The “New” Financial Aid Applicant, one trend that stands out is that the families who applied for financial aid for the 2012–2013 academic year have higher incomes than those who sought financial aid ten years ago. In fact, the highest-earning families in America comprise the largest growth of financial aid applicants. The report suggests that this trend is due to the price of tuition rising faster than a family’s ability to keep pace without seeking financial aid support. PDS has also seen many middle and higher-income families qualify for financial assistance.

Applying for Financial Aid does not affect one’s chances for admission; applicants are accepted without regard to a family’s financial situation.
PDS uses NAIS’ School and Student Services to help determines what a family can pay in tuition. This service takes into account many factors, including income, expenses, assets of both the student and the parents, and liabilities, as well as the number of children attending tuition-charging schools. Ultimately, the formula SSS uses seeks to determine a family’s discretionary income — the income over which the family has choice as to how it is spent. A percentage of discretionary income is the amount SSS suggests a family can pay toward tuition.

A small, confidential committee at PDS reviews all applications and awards grants to current families in January and new students in late February. Awards are determined taking into account the money budgeted by the school for financial aid, the number of applicants qualifying, and the need.

If in doubt whether or not your family qualifies, go ahead and apply. This step has to be taken in order to determine the answer to the question, “Do I make too much money to qualify for financial assistance?”

Visit our Financial Aid page for more information on Presbyterian Day School’s policies and procedures.

I’d be happy to answer any questions you might have. Call me at 901–842–4695 or email me, rbishop@pdsmemphis.org.

Last modified on Friday, 19 May 2017
Rachel Bishop

Director of Admission
Email Bio
901-842-4600

Email This email address is being protected from spambots. You need JavaScript enabled to view it.

 

37 Questions to Ask When Choosing an Elementary or Pre-School

Our free guide to help you navigate the process
of selecting a school for your child.


Free Download!

37 Questions to Ask When Choosing an Elementary or Pre-School

Our free guide to help you navigate the process of selecting a school for your child.


Free Download!

Strategic Parenting Blog

Slider
Image not available
Image not available

Image not available

Image not available

Image not available

Slider