For Boarding Schools, an Evolving Financial Aid Philosophy – NYTimes.com
Families applying for financial aid to elite high schools, after paying $20,000 for volleyball camp or summer trips abroad.
“Admission to the country’s top preparatory high schools has always been fiercely competitive. But today, with the price of some private boarding schools like Tabor topping $50,000 a year, affluent families are also lining up for aid — and sometimes shutting out those further down the income ladder. The reality has affected the whole philosophy behind financial aid.
“We used to be trying to open our doors to all students,” said Mr. Marshall, who has worked at independent schools for nearly four decades. “Now, it’s ‘Who can afford us?’ ”
That’s not many families. After paying $200,000 for four years of boarding school, parents are looking at another $200,000 or more for college. And that is for one child.
The magnitude of these costs mean that even parents with annual incomes of more than $300,000 are applying for financial aid and receiving it. Both Tabor and Webb said that about a third of students received aid.”
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