Does Oakwood School offer scholarships?
Oakwood offers financial assistance to families and does not offer “scholarships.” If your family qualifies for and is awarded financial assistance, you will receive a grant to reduce your tuition. There is no obligation to re-pay this grant at a later time.
Can I pay for the first year and then apply for assistance the following year?
When a family applies for admission to Oakwood without requesting financial assistance, it affirms their intention and capacity to meet the full cost of tuition both at the time of enrollment and for the duration of their child’s time at the school.
Oakwood’s financial assistance program is designed to support families who demonstrate need at the time of admission. Families who choose to enroll as full-pay are expected to continue meeting tuition obligations in future years. Financial assistance will not be available in later years for full-pay families, except in extraordinary and unforeseeable circumstances.
Oakwood maintains a modest emergency fund to assist currently-enrolled families facing significant, unanticipated financial hardship. To qualify, families must demonstrate that the financial need was unforeseen and did not exist at the time of admission.
How is a family's need determined?
Oakwood’s financial assistance process is comprehensive. In determining need, we consider information obtained from the Clarity application, federal and state income tax returns, and any additional information that the committee feels is necessary for a fair and accurate assessment of the family’s financial standing. While Oakwood requires the same documentation and uses the same methodology to assess each family's ability to pay, every request is evaluated individually.
What educational expenses are considered in awarding assistance grants?
Oakwood’s Financial Assistance Committee makes a single comprehensive grant based on its review of demonstrated financial need and takes into account the full cost of attendance including tuition, fees, books, class trips, and other incidental educational expenses in establishing the amount of an award. For those who qualify, assistance is also available for non-tuition expenses such as bus transportation, lunch, laptop, books, and other qualifying items.
Is financial assistance automatically renewed each year?
Families receiving financial assistance must reapply each year. If a family's level of need changes, assistance may be raised or lowered accordingly.
Are educational expenses likely to change year to year?
Yes. Annual tuition and fees are set by the Board of Trustees in January for the following year. The Board is committed to keeping tuition increases as low as possible and to ensuring that the high quality of our educational program is maintained.
What about separated or divorced parents?
In cases of separated or divorced parents, we require the same documentation from both parents, regardless of court-ordered custody or support. Oakwood cannot be bound by the assertion that one parent has disclaimed responsibility for educational expenses. If either parent has remarried, the Financial Assistance Committee will consider the income and assets of the stepparent; however, the Committee will also bear in mind the stepparent’s obligations to his or her other children. In addition, Oakwood cannot be bound by the assertion that each household is responsible for half the cost of education. Therefore, one household should be considered for financial assistance. Both households are required to submit the financial assistance application, and the Committee will determine financial need based on both households’ financial circumstances.
Does applying for financial assistance influence the admission decision? Oakwood’s Admission Committee carefully reviews every applicant based on their academic strengths, potential, and fit with our community. After admission decisions are made, financial need, as determined by the Financial Assistance Committee, is considered as we allocate awards within our limited financial assistance funds and overall enrollment goals.
While we strive to support as many families as possible, our resources do not allow us to meet every applicant’s full demonstrated need. We still encourage families to apply for financial assistance if affordability is a concern—doing so will not disadvantage a student who is otherwise a strong candidate for admission. Priority is given to siblings of current students.
Who do I contact with questions?