Financial Aid FAQs

List of 9 frequently asked questions.

• What is Financial Aid?

  Financial Aid is an outright grant used to offset the costs of an independent school education and does not have to be paid back. The money is provided directly from Tenacre,
  and is based solely on a family's need. Tenacre does not make merit awards.  
  
  Need is defined as the difference between the cost of a Tenacre education and a family's ability to pay those costs.

• How much Financial Aid is available for the 2018 - 19 academic year?

  For the 2018-2019 academic year, Tenacre has set aside over $1 million for financial aid.  Individual grants range from $6,000 to $33,000.

• Where does the money come from?

  Financial Aid funds come directly from the school’s operating budget, several named funds, and The Parent Association fund-raising activities. There are no federal funds involved in the Financial Aid program. The Tenacre Financial Aid Fund demonstrates Tenacre’s commitment to a socio-economically diverse student body.

• We are a "middle class" family. Could my child qualify for aid?

  Yes, indeed. Many families mistakenly believe they will not qualify for financial aid, and thus never even apply.
  However, there is no specific income level at which a family may no longer be eligible for aid, so you won't know until you apply.
  
  The amount of aid offered depends on a variety of factors, not solely on a family's income.  These factors may include assets held by the family as a unit, the number of family dependents, the number of children attending independent schools and colleges, and other extraordinary family expenses.  Alowances are made for living expenses, retirement, taxes, medical costs and debts.
  
  If a family’s so-called discretionary income increases over time, parents are expected to make progressively higher financial commitments to their child's education.  Financial aid awards will not subsidize a parental choice not to work if there are no dependents at home during the school day, or discretionary expenses related to lifestyle.
  
  PLEASE NOTE:Late applications are considered on a rolling basis, provided that funds remain in the budget.

• Are decisions about admission and financial aid made separately?

  Yes. Applying for financial aid does not affect your child's chances of admission.  The processes are simultaneous, but separate.

• Will failure to meet deadines affect the possibility of receiving a grant?

  Yes. Financial aid is allocated to those families who meet the PFS deadline (February 8), and then to those families who apply after the deadline.  In most cases the school will exhaust it's financial aid resources during the first round of admission decisions; however, late applications will be considered, to the extent money remains in the budget.

• Is the Financial Aid application process confidential?

  All conversations and decisions regarding financial aid awards are known only to the Financial Aid Committee.  We consider it a top priority to keep your questions and concerns confidential.  Please contact Sam Reece, the Dir. of Enrollment Managment (781-235-2282, ext. 203) to discuss your individual family situation.

• Are financial aid grants automatically given year to year?

  No. It is our policy to provide funding first for re-enrolling students who received aid in the past year; second, to current students
  whose circumstances have changed; and third, to newly-accepted students.

• What should I do if my family's financial and/or living arrangements are complicated?

  Family situations can be complicated. Both parents (even if living separately) are expected to
  contribute to their child's education.  The income and assets of both parents will be considered.  Include a letter of explanation with your application, and don't hesitate to ask questions.