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Re: Prep School Financial Aid Fact and Fiction

Curious
I am a parent who I would like to think has no illusions regarding my son. I think he has talent and overall is a well rounded kid. He is interested in prep school but would be considered as high financial need. There are advisors, and chat sites and talk from people who had a friend with a kid etc...What I am hoping for is just some honest conversation regarding the process.

I have been told that the real recruiting starts in March after coaches know your kid has been accepted. My son has had interest from a few schools and I write that off as getting him to apply. He hears things like buddies have already committed to a school or so and so is on a full ride. I get that what happens and what schools want people to see are two very different things. I guess I am curious what the feeling is on what the real facts are.
All financial aid is based upon need
Not all institutions define "need" using the same criteria
The larger the endowment and the more well off the current student body is, the higher the adjusted gross income for need is. For example, large ISL school with 200 plus million endowment might define need for families making less than 250K in AGI where small prep school in an urban environment, AGI for need is under 100K.

Room & board are not part of the formula, you're own you own for that

Re: Prep School Financial Aid Fact and Fiction

Some schools like KUA are on rolling admissions and might have already committed to some players. Others schools like Deerfield will have to wait till March 10th. As for the amount it varies greatly based on Endowment, interest and just how good your kid is.

Re: Prep School Financial Aid Fact and Fiction

anon
Curious
I am a parent who I would like to think has no illusions regarding my son. I think he has talent and overall is a well rounded kid. He is interested in prep school but would be considered as high financial need. There are advisors, and chat sites and talk from people who had a friend with a kid etc...What I am hoping for is just some honest conversation regarding the process.

I have been told that the real recruiting starts in March after coaches know your kid has been accepted. My son has had interest from a few schools and I write that off as getting him to apply. He hears things like buddies have already committed to a school or so and so is on a full ride. I get that what happens and what schools want people to see are two very different things. I guess I am curious what the feeling is on what the real facts are.
All financial aid is based upon need
Not all institutions define \\\"need\\\" using the same criteria
The larger the endowment and the more well off the current student body is, the higher the adjusted gross income for need is. For example, large ISL school with 200 plus million endowment might define need for families making less than 250K in AGI where small prep school in an urban environment, AGI for need is under 100K.

Room & board are not part of the formula, you\\\'re own you own for that

Not all financial aid is based on need. The ISL schools are limited to need-based aid that varies as you describe but there are schools in other leagues, e.g. Lakes Region, Founders, and 8 Schools Association,that offer aid that is not need-based. SPS left the ISL due in part to three endowed scholarships that violated the ISL rules about need-based aid. You can read about it here: https://thecirclevoice.org/1831/sports/st-pauls-to-leave-isl-tabor-to-join/ Not many schools publish detailed FA data but a fairly detailed breakdown for Pingree is here: https://www.pingree.org/admission/tuition-financial-aid

Re: Prep School Financial Aid Fact and Fiction

Thank you for the great responses. Where I find things confusing is they can admit you but what you are saying above is, even though they have the SSS report showing what you can afford that number may not mean anything?

A school can accept you to attend knowing full well that you have no way of affording it?

I was also not aware that the affordability calculation did not include boarding costs. So what ever my sons number is I have to figure out how much it costs to board him at the school and add that in to have any idea of what I might be looking at for next year.

I dont want to get into describing the hockey side of things because I want to avoid the BS stuff. Does being from Canada help or hurt also and are there any ways to know if a coach is blowing smoke or actually interested?

Thanks!

Re: Prep School Financial Aid Fact and Fiction

Most coaches are always interested because it is a business after all. Do your homework and understand where your son fits in the team if at all. There are a couple schools which over recruit and other schools which might be loaded at a certain position with returning players.

Re: Prep School Financial Aid Fact and Fiction

I've actually heard room & board are easier for schools to give away than tuition. Different rules at different schools, maybe.

But, very VERY few kids are getting full rides. Projected draft picks, maybe. Most of that is parents bragging. A buddy of mine's kid was a 1st round pick and is in the NHL, and when he was at an ISL school he was getting a couple of grand, based on how the formulas worked.

Re: Prep School Financial Aid Fact and Fiction

Being a Canadian doesn't help it actually hurts your chances as most schools have limited spots for international kids with FA. However we know of Canadians kids who are hockey players on FA.