NYC Private School Need-Based Grants

by NYC Firm Schools on March 10, 2010

Many families are looking for more information about different types of Financial Aid. Just as a family plays it smart and helps their child apply to more than one NYC Private School, so too do families check off all of their Financial Aid options and make sure that every base is covered. If one type of aid is denied, perhaps another will be accepted; perhaps even a combination will be available. During difficult financial times, knowing your options is a potent power.

Need-Based Grants

For many families, the Need-Based Grant is a wonderful form of Financial Aid. Most schools can offer need-based grants to students and families in order to enable students to attend, regardless of the family’s income, as long as the student qualifies for acceptance and has found the right match in that school. Essentially, that translates to a child who has been accepted to the school but the family is finding it difficult to pay tuition.

  • Because no one simply hands out need based grants without checking on the needs portion, there are some paperwork and applications that have to be filled out. Supporting documentation will be required to verify income and determine the family’s ability to contribute to tuition. Families that are able to show a demonstrated need may be provided with a grant to decrease the burden of tuition on their family.
  • Need-based grants aren’t designed to cover the entire cost of tuition, however. The family is expected to contribute to costs depending on their financial situation and those contributing costs are often assessed on a sliding scale based.
  • Many families appreciate the design of need-based grants because they do not need to be paid back to the school as they are not a loan. The money for these grants comes directly from the school’s financial aid budget.

If you are a parent of a child attending a NYC Private School and you believe that your family will need financial assistance to afford tuition in the upcoming school year, please don’t hesitate. Talk to your school now to see what options are available.

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