Is financial aid available in all grades?
Financial aid is available for grades kindergarten through 12.
How does the SSS program calculate my family’s “contribution” or ability to pay?
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 are 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 of 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.
Which tax year document should I use to complete my financial aid application?
Due to the early deadlines, families applying for aid should enter information from their completed 2019 1040 tax returns. When prompted on the application to estimate income, please enter your estimated 2020 earnings. The instructions on the SSS website will guide you to enter 2020 tax return information and estimated 2021 earnings which you may disregard.
Our family has children in multiple tuition-charging schools; how does Avenues account for these expenses?
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.
Can my family receive a waiver so we don’t have to pay for the parents’ financial statement processing fee?
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.
How are financial aid funding priorities determined?
When the need for aid exceeds the Avenues’ resources, the financial aid committee follows a policy that prioritizes awarding funds each year to returning students with aid packages already in place, new students in need of aid, and then, last, to current students who are new to financial aid. Avenues reserves the right for financial aid grants to reflect the enrollment priorities of the school (e.g. gender balance, entry grade, class size, socio-economic diversity, immersion language preference).
Yes, financial aid packages extend beyond tuition so that all students can fully enjoy the breadth of our program. Support is offered in several areas, including extended day, summer programs, music lessons and instrument rental, athletics, overnight class trips within the U.S. and study abroad. The level of funding correlates to the same percentage of tuition aid a family received. Enrolling students receive detailed information regarding accessing funding and certain restrictions.
Will my child continue to receive aid from year to year, including aid to cover tuition increases?
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.
If my child enrolls without receiving a financial aid package, can we expect to receive aid in future years?
Generally not. Families who enrolled with no financial aid must wait two years before applying for financial aid, 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 aid award and your family cannot afford to finance full tuition for the remaining years, we strongly recommend that your child does not enroll.
Does Avenues offer loans?
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.
How does Avenues ensure confidentiality throughout the financial aid process?
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 aid decision. Additionally, your family should respect confidentiality by not disclosing financial aid outcomes to any other community members.
The financial aid deadline has passed. Can I still apply?
Submitting an application by the deadline is critical as most funding is allocated soon after the deadline. Families new 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 aid. Applications more than one month late will likely result in a reduced award or no award, depending on the availability of funds.
Does Avenues offer a sibling discount?
No. Families who believe in the benefit of having multiple children with us are encouraged to file an application for financial aid.
Divorced, single, or never married parents: what does Avenues expect?
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. Click here for the non-custodial parent info form.
Does Avenues expect both parents to be employed to file an application for financial aid?
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.
May I apply for financial aid after my child has been offered admission?
No. Avenues calculates its financial aid grants and budget in conjunction with offers of admission. Both applications should be filed concurrently in the fall.
How is self-employment evaluated in the financial aid process?
All self-employed parents filing for financial aid must submit business tax returns. Avenues reserves the right to request full business filings semi-annually.
Are student assets used in the calculation of financial aid?
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.
Can I appeal the financial aid grant I received?
Families may request reconsideration by the financial aid committee upon receipt of a financial aid 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 aid and additional documentation of unusual circumstances are required to process appeals. Click here for the monthly budget form.
How is “cost of attendance” defined when calculating need?
Avenues recognizes there are additional mandatory costs associated with attendance. For 2020–21 awards, $58,700 was used for K–5 students and $62,000 for 6–12 students.
Can international families apply for financial aid?
International students are eligible to apply for financial aid. Additional documentation may be required by the financial aid committee to verify a family’s ability to contribute toward the cost of education. Though Avenues strives to meet full demonstrated need of each enrolling student, funding is limited.
