1. Should we apply for financial access?
Independent School tuition represents a significant investment for any family. There is no specific income level at which a family no longer qualifies. The following items are taken into consideration:
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Income
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Assets (investments, home equity, automobile, etc.)
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Family size
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Number of children attending tuition-charging institutions
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Age of parents
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Current debt (credit cards, mortgages, other loans, etc.)
After an allowance is made for basic living expenses and taxes, the remaining funds are considered discretionary income, a portion of which is assumed available for education.
Although we would like to provide firm guidelines to help you decide whether or not to apply for assistance, we have found that each family’s combination of circumstances is unique. If you are unable to afford our full tuition, you should apply for financial access.
2. Who determines eligibility and financial access?
The Financial Access Committee, comprised of the Head of School, the Director of Admission and Financial Access, the Associate Director of Admission, Middle School and Financial Access, and the Chief Finance and Operations Officer, uses the recommendation of SSS by NAIS in addition to supplemental information to determine eligibility and tuition contributions.
3. Are allowances made for siblings attending independent or religious elementary, secondary, or post-secondary school?
King makes allowances for siblings in independent or religious schools through college or age 24. However, we do not make allowances for siblings in graduate school.
4. If we pay full tuition initially, can we apply for financial access in subsequent years?
It is important to understand that our budget is set on a multi-year basis according to current participation and planned new enrollment. Therefore, families enrolling at King at full tuition are expected to contribute at full tuition amounts in subsequent years. In the case of a dramatic change in family circumstances, families may apply for financial access, however, reduced tuition may not be possible.
5. Does financial access include other school expenses?
Families paying partial tuition are eligible for assistance for school programs and optional travel opportunities. Some families may also qualify for supplemental funding that supports fees, transportation, and after-school childcare. Please contact the Director of Admission and Financial Access for more information regarding eligibility requirements.
6. Will our contribution to tuition change in future years?
If your circumstances do not change significantly, you can expect your contribution to remain about the same from year to year. In setting our budget, priority for partial tuition goes to returning students. Each family’s level of contribution is re-assessed each year to assure that we are meeting current demonstrated capacity. If a family’s financial profile improves, they may be expected to contribute at an incrementally greater proportion. Likewise, if a family experiences a financial setback, their tuition contribution may be adjusted to take their new circumstances into consideration.
7. Will we be expected to pay back the amount of reduced tuition?
No, we provide financial access to qualified students to enrich our community. This is not a loan or a grant. We do hope that you will make King School your philanthropic priority when you consider charitable donations.
8. What about separated, divorced, or never-married parents?
King considers the income and assets of any adult who plays a significant role in a student’s life. All adults (mothers, fathers, step-parents, guardians, etc.) are required to submit all forms to SSS. Each household should submit a separate SSS application.
9. Will my application for financial access affect my child’s chances for admission?
No. Admission decisions are based on individual merit, not on the ability to pay. However, due to the limitations of our budget, King is not able to offer partial tuition to every student who qualifies. Students who have applied for financial access and are accepted to the school, but are not offered partial tuition, will receive a letter with this information.
10. How can I get more information?
Your admission interview is the first place to have questions answered. You may also contact Aishling Peterson, Associate Director of Admission, Middle School and Financial Access, at apeterson@kingschoolct.org or (203) 322-3496, Ext. 4490.
