In a “Record numbers seek financial aid from private schools,” WRAL contributor Jane Paige touches on FA themes that we’ve been reading about and covering over the past year and a half. FA applications are up; school resources are stretched.

Paige does two things that make the article worthy of a quick read. She gets good contributions from administrators inside schools, showing what and how schools are working to do their best under tight conditions.

More families are filing FA requests and schools are laboring to administer the FA dollars as fairly and effectively as possible. This is the most human and revealing light in which I’ve seen school FA officers revealed.

And, she gives a quick primer to the private school FA- not overly detailed but a very good start.

“…Many schools offer payment plans to help spread out tuition costs. These plans include a variety of options, such as full payment in August, 60 percent payment in August and 40 percent in December or monthly payment plans. The monthly payment option is the most commonly used, school officials agree.

The most common form of tuition assistance is need-based financial aid. Generally, this is tuition assistance given to families who demonstrate financial need, which is defined as the difference between a student’s educational expenses and the family’s financial resources or ability to pay.
Typically, financial aid is in the form of a grant that doesn’t require repayment and is designed to cover tuition charges only. Funding for these grants comes directly from the school’s budget. Many large private schools have special financial aid endowments, while others tap into the school’s operating budget for financial aid allocations.

Similar to college financial aid programs, parents at many Triangle private schools complete and submit financial aid applications to national services rather than directly to the local schools. This helps protect the privacy of parents seeking financial assistance.

Some area schools have small financial aid committees that review and make the final grant decisions. Others leave the decision to the head of the school.

Parents seeking information about need-based financial aid should contact their school’s admissions office. Schools also host information sessions where parents can ask questions about financial aid, admissions and all areas of school life.

Schools’ Web sites often have detailed information on the financial aid process as well. Parents can research current fees and loan rates to determine whether a loan is a viable option.

“The admissions office and business office have trained staff members who are knowledgeable in all areas of financial aid,” Jamison (Ravenscroft, admission director) says. “We work and counsel with individual families on the financial aid application process from inquiry to enrollment.”

In a nutshell, private school financial aid is a process that families must research and plan for. And, your best reference and starting point is the financial aid officer at your school.