Financial Aid FAQ
Q. What is University Prep's financial aid philosophy?
A. Financial aid makes it possible for us to welcome students from various economic backgrounds. Our Financial Aid Program assists qualifying families in meeting their financial obligations for tuition, textbooks, and other student fees. University Prep provides financial aid to qualified families as long as there is demonstrated need and funds available.
While a family may receive financial aid to assist with educational expenses, the primary responsibility for financing a student's University Prep education rests with his or her family. Family members, including nonmarried partners, have the obligation to pay for the educational expenses of the children to the extent they are able.
Q. I am not sure if I will qualify for financial aid. What is your range of financial aid awards?
A. University Prep provides financial aid to qualified families as long as there is demonstrated need and funds available. The Financial Aid Committee relies on information provided by the Parents’ Financial Statement (PFS), the 2018 tax return, and a family’s W-2 forms to determine need. We consider many factors such as income, assets, size of family, age of parents, outstanding debts, etc.Financial aid awards for the 2018-2019 school year ranged from $5,500 to $33,850. If you are not sure whether you may qualify, please contact Laura Amrein, Associate Director of Admission and Financial Aid, at 206.832.1118 or email@example.com.
Q. Will my application for financial aid affect my child's chances for admission?
A. All financial aid and admission decisions are considered separately. There are two committees; one makes admission decisions and the other determines financial aid awards. Different individuals sit on the Financial Aid and Admission Committees. However, if a family applies and qualifies for financial aid, it may impact the applicant’s admission decision. We will not offer a space to any applicant with a demonstrated financial need that we cannot support. Therefore, if a family applies and qualifies for FA, and we don’t have financial aid to offer the family, we will not offer a space. Instead, these admissible applicants, who qualify for financial aid, will be offered a place in our wait pool. These applicants in the wait pool will only be accepted with financial aid, if and when funds become available.
Q: What expenses does financial aid cover?
A: Financial aid grants are meant to assist with the cost of not only tuition but also other fees associated with the University Prep experience. Students receiving financial aid qualify for funds to assist with textbooks, lunch, transportation, sports, technology needs, field trips and retreats, global experiences, dances, and other co-curricular activities.
Q: If my child receives financial aid, will they have a different UPrep experience than a student who does not?
A: Our financial aid program is designed to be both confidential and comprehensive. This means that students who receive financial aid grants are not labeled in any way. Rather, financial aid can help with tuition and more, allowing students to participate fully in all that UPrep has to offer without feeling dissimilar from their peers.
Q. How do I apply for financial aid and what is the financial aid deadline?
A. Check the box on the preliminary application form to request financial aid materials. You will receive an email with information on UPrep’s financial aid process and a link to the financial aid application. Beginning in November, you may complete your financial aid application online at sssbynais.org. Financial aid applications are due February 7, 2019. You will also submit a copy of your 2018 tax returns with all schedules and W-2(s) with you financial aid application.
Q. When will families be notified of financial aid awards?
A. New students receive notification of their financial aid award with their admission decision letter on February 22, 2019 for Upper School Students and March 15, 2019 for Middle School Students. Returning students are notified of their financial aid award in early April.
Q. Will my financial aid award change from year to year?
A. Possibly. We attempt to provide financial aid to qualified students through graduation, subject to demonstrated need and availability of funds. Annual application for financial aid is required to determine continued eligibility.
Q. If I do not receive enough financial aid, I will have to spend some of my child's college fund. How can I justify such a sacrifice?
A. An exemplary secondary education develops sound habits, intellect, and character. Our graduates emerge with a strong sense of self and intellectual skills that allow them to attend colleges of their choice. Colleges and universities usually have generous financial aid programs that assist families in financing their child's post-secondary education.
Q. Is the financial aid process different for families who are divorced or separated?
A. Yes. When considering financial aid, the matter of divorce or separation of parents is a difficult one. University Prep will consider the assets of both parents, natural or adoptive, if living, before making any award, and will not be bound by the assertion that one parent has disclaimed responsibility for education expenses. Financial aid is determined by a family’s ability to meet educational expenses; it is based on need, not on a willingness or unwillingness to pay.
Q. If I remarry, will my new spouse's finances be considered in the financial aid allocation for my child?
A. Yes. If either parent has remarried or has a domestic partner, the school will also consider the assets and obligation of the stepparent. Both natural parents and their spouses will be asked to complete a financial aid application.
Q. How confidential is the information I provide?
A. Completely. University Prep safeguards the confidentiality of all personally identifiable financial aid information supplied by families. We never make any public announcements of individual financial aid awards. The school is opposed to any practice that publicly identifies recipients of aid.
Q. How can I get help filling out the financial aid forms?
A. Please contact Laura Amrein, Associate Director of Admission and Financial Aid, at firstname.lastname@example.org or call 206.832.1118 to schedule an appointment.