About Financial Aid
Every independent school has its own policies about who receives financial aid, what types of aid are awarded, and how much aid a particular family will receive. In most cases, the financial aid office cannot tell you if your family will qualify for financial aid until you submit an application that allows the school to evaluate your unique situation.
To determine your eligibility for financial aid, you must submit an application form and financial statements. Financial aid officers will then use this information to determine how much financial aid they offer.
There is no income limit that automatically makes your family ineligible for financial aid. Financial aid officers take into account your income, assets, and expenses, including educational costs for other children. Your financial need is the gap between how much the financial aid vendor determines your family can afford and the cost of tuition and fees.
Bottom line: If you feel your family cannot afford to pay the full cost, regardless of your income, it's worth the effort to submit a financial aid application.
Every school has its own financial aid schedule, and the deadlines are different for schools with rolling admissions. In general, most financial aid applications are due in January or February. You will receive a financial aid decision shortly after your child is admitted to a particular school.
Reprinted from NAIS.