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 expenses.
Financial Aid funds come directly from the school’s operating budget, several named funds, and Parent Assoc. 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.
Like many independent schools, Tenacre uses the services of the School and Student Service for Tuition Assistance (SSS) in Princeton, NJ to help in assessing a family’s financial need. The service processes all forms and establishes a common base by which each family's need can be measured fairly and equitably. In this sense the process is like a Common Application. SSS itself does not award grants. Awards are made by the Tenacre Financial Aid committee.
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 budget during the first round of admissions, however, ate applications will be considered to the extent money remains in the budget.
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 in the Admission Office (781-235-2282, ext. 203) to discuss your individual family situation.
No, not automatically. It is our policy to provide funding first for currently enrolled students who have received aid in the past year; second, to current students whose circumstances have changed; and third, to newly-accepted students. A significant change up or down, in your financial profile may result in a change in the financial aid award amount.
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.
The amount of aid offered an applicant depends on a variety of factors, not solely on a family's financial circumstances. These factors may include assets held by the family as a unit, the number of family dependents, the number of children attending tuition-charging schools and colleges, and other extraordinary family expenses. Tenacre’s available Financial Aid funds in a given year also play a role.
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 money remains in the budget.