More Wealthy Families Seeking Financial Aid

Mar 2, 2020, 1:37 PM

(from the Wall Street Journal) Of the families that seek financial assistance to attend independent schools, 10% make more than $250,000, up from less than 6% four years ago. More schools are changing terminology around financial aid, using terms such as “flexible” tuition, to attract parents who might assume they earn too much to qualify for traditional aid, or balk at a perceived stigma. Flexible tuition “reduces sticker shock,” said Jeffrey Shields, president of the National Business Officers Association, which serves independent schools. “It’s more and more common that families are coming to the table and want to negotiate,” he said. About 4% of independent schools were using such terms as “flexible tuition” in 2016, and 12% were considering switching to them, according to a 2016 survey.