|Returning Families||November 1|
|Early Notification||December 1|
|Regular Notification||January 8|
The primary responsibility for tuition rests with the family, and each family is expected to fully utilize its own resources before requesting financial assistance. Avenues recognizes the distinctiveness of each situation and tailors assistance packages to meet the demonstrated needs of each qualified family.
A few things to keep in mind:
Please Note: Financial assistance is not available for students in nursery and pre-kindergarten.
SSS has been administering financial assistance to independent schools since 1968, in collaboration with the National Association of Independent Schools (NAIS), and currently works with over 1,700 schools to help determine a family’s ability to pay school costs. The service gives Avenues an estimate of the amount your family can contribute to educational expenses, which Avenues then uses independently to determine the amount of assistance you receive.
Financial assistance is available for grades kindergarten through 12.
The calculation of your family’s ability to pay considers your income, what you own (your house and other investments), what you owe (your mortgage and other debts), the size of your family, and how many family members are enrolled in tuition-charging schools or colleges.
After making allowances for basic necessities, taxes, and certain other expenses, taking into account the cost of living in our area, SSS estimates what portion of your remaining funds is available to pay school costs. (Note: eligibility for financial aid does not guarantee that Avenues has enough financial aid available for your family.) SSS then provides the results of the analysis to Avenues as a recommendation on your ability to pay. The final award determination always comes from Avenues based on our school policies, practices and available budget — not from SSS or NAIS.
When determining a family’s estimated contribution, SSS takes into consideration the total number of children in tuition-charging schools, including other college, parochial, and independent school programs. These expenses may be more or less than an Avenues tuition, and therefore the Financial Aid Committee will determine the appropriate percentage of the family’s overall estimated contribution to be allocated to Avenues. Avenues cannot subsidize tuition associated with other schools where financial aid is unavailable, and reserves the right to adjust awards based on any changes to the number of children in tuition-charging schools.
Yes, SSS offers a program where application fees can be waived for families most in need of financial help. Family size, income, and asset information from the Parents’ Financial Statement is used to assess the family situation and SSS will automatically apply a waiver if a family qualifies.
When the need for assistance exceeds the Avenues’ resources, The Financial Aid Committee follows a policy that prioritizes awarding funds each year to returning students with assistance packages already in place, new students in need of assistance, and then, last, to current students who are new to financial assistance. Current families with a sibling in the admission process are given priority during the new student round of funding. Avenues reserves the right for financial assistance awards to reflect the enrollment priorities of the school (e.g. gender balance, class size, socio-economic diversity, immersion language preference).
Yes, financial assistance packages extend beyond just tuition so that all students can fully enjoy the breadth of our program. Support is offered in several areas, including transportation, extended day, music rental, athletics, overnight class trips within the U.S. and study abroad. The level of funding correlates to the same percentage of tuition assistance a family received. Enrolling students receive detailed information regarding accessing funding and certain restrictions.
Avenues renews grants based on a family’s demonstrated financial need. Therefore families must update, annually, a report of their income, assets and debts via the Parents’ Financial Statement.
Avenues remains committed to partnering with families to finance an independent school education but recognizes that a family’s ability to contribute toward tuition may increase or decrease depending on their annual reporting. With no change in financial profile, a family can expect their parent contribution toward tuition to increase slightly each year, typically equal to the percentage increase in tuition.
Generally not. Families who enrolled with no financial assistance must wait two years before applying for financial assistance, unless a sibling will be joining Avenues. Avenues recognizes that there are unfortunate events that change a family’s ability to contribute to tuition, and Avenues will work with families to formulate a plan for financing. If your child does not receive a financial assistance award and your family cannot afford to finance full tuition for the remaining years, we strongly recommend that your child does not enroll.
Avenues does not provide tuition loans. Your family may apply for educational loans, through a third party tuition loan provider, to manage tuition costs. Click here for more information on loans.
Protecting the confidentiality of personal data is one of the most important tasks for our financial aid office. All financial data and subsequent proceedings with Avenues are strictly confidential; only members of the Financial Aid Committee have access to a family’s information. Avenues faculty are not privileged to any financial information regarding students.
Families can take steps to ensure confidentiality. Your family should use school-established channels for submitting an application, as well as disputing or appealing a financial assistance decision. Additionally, your family should respect confidentiality by not disclosing financial assistance outcomes to any other community members.
Submitting an application by the deadline is critical as most funding is allocated soon after the deadline. New families to Avenues are encouraged to reach out to the Admissions Office to learn if any funding remains for students. Please note: Late applications for returning families will not be considered for any increase in financial assistance. Applications more than one month late will likely result in a reduced award or no award, depending on the availability of funds.
No. Families who believe in the benefit of having multiple children with us are encouraged to file an application for financial assistance.
Avenues believes that both parents are responsible for the education of a child. Any legal arrangements or commitments to the contrary are the responsibility of the parents to negotiate between themselves. Avenues will consider the income and assets of both natural parents, even if only one parent is in favor of a student’s attendance at Avenues. If natural parents have remarried, we will also consider the assets of the stepparent, always bearing in mind the primary obligations of that stepparent to his or her own children. When one parent is completely absent, a notarized affidavit (provided by Avenues) is required. Click here for the non-custodial parent info form.
The Financial Aid Committee will impute a salary for a non-working parent when there are no pre-school age children or others to care for in the home, and/or no medical or disability issues that prevent the parent from seeking employment. An annual income of $50,000 will be imputed if the above situation does not apply.
No. Avenues calculates its financial assistance awards and budget in conjunction with offers of admission. Both applications should be filed concurrently in the fall.
All self-employed parents filing for financial assistance must submit business tax returns. Avenues reserves the right to request full business filings semi-annually.
All student assets are to be included in the application and will be considered. Certain financial vehicles that preclude family access to the asset must be documented.
Families may request reconsideration by the Financial Aid Committee upon receipt of a financial assistance decision. The only condition under which an appeal may be filed is if there is new information available for consideration that wasn’t previously known. If there is no new information to be submitted, an appeal will not be considered. A detailed monthly budget of household income and expenses, a letter to the Financial Aid Committee explaining the request for additional assistance, and additional documentation of unusual circumstances are required to process appeals. Click here for the monthly budget form.
Avenues recognizes there are additional mandatory costs associated with attendance. For 2017–18 awards, $55,000 will be was used for N–5 students and $60,000 for 6–12 students.
No. An international family, as defined by the passport and citizenship of the student, are not qualified for financial assistance.
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