Financial Aid Application Policies
- If you are already receiving financial aid through University Prep, you will be required to re-apply for financial aid each year that your student intends to enroll at the school. In this way, the Financial Aid Office stays up to date with any changes in your financial circumstances from year-to-year and can evaluate current financial need. In this same vein, if you experience a significant change in financial circumstances in the middle of an academic year (ex. loss of employment, divorce, significant increase in compensation, new partner in the household), please be in touch with UPrep Financial Aid (firstname.lastname@example.org) immediately.
- If you are a current UPrep family not receiving financial aid in order to attend, new financial aid applications are considered if there has been a significant, involuntary change in financial circumstances.
We understand that families come to UPrep in a variety of configurations. Our policies are designed to ensure that all families who apply for financial aid are considered equitably. In this vein, our need-based model seeks to serve families who are not able to meet the full cost of attendance at UPrep, rather than those that are not willing to meet the full cost.
- Divorced or separated families: The school considers the assets of both custodial parents when evaluating need, regardless of whether the parents have made independent arrangements regarding education and finances. We also consider all adults living in household(s) of the custodial parents. If either parent has remarried or has a domestic living relationship with another adult, UPrep will also consider the assets of the stepparent or domestic partner. Both biological parents and their current spouses or domestic partners, if any, will be required to submit a financial aid application and return all appropriate tax forms and schedules in order for the financial aid application to be considered. It is the responsibility of the parent applying to UPrep to ensure that all required adults as described above are completing a financial aid application.
- Single parent household: Single parents are welcome to apply for financial aid. In addition to the required tax documents, single parents are asked to complete a Statement of Explanation waiving the noncustodial parents’ responsibility for providing financial support for educational expenses. On this Statement, you will also be asked to explain whether you know the whereabouts of the second household and provide a brief explanation of the situation. As a reminder, UPrep’s financial aid program provides funds to families who are unable to meet the full cost of attendance, as opposed to unwilling. For that reason, if there is a second custodial parent who refuses to complete the financial aid application, we will not consider that application complete.