Understanding Rabih School Financial Aid
What it is & How to Apply
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Acknowledgements: |
This booklet is an amalgamation of more than just our writings and thinking about the RS financial process. It is a collection of shared thoughts and works collected over the years by our colleagues and us. We, as RS community, believe that education is a right for everyone, regardless of the financial situations. On the other hand, we are entitled to provide a full understanding of awareness and fairness to acquiring this right. We freely admit that we stand beside those who deserve.
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Some opening thoughts on the school search and financial aid/things you should know about filing for financial aid |
We begin with some thoughts that we include in almost every note we write to families asking about financial aid. These thoughts may come across as blunt; that is a conscious decision. Any healthy financial aid application requires a realistic understanding and acceptance of the process, as well as an acceptance of the potential outcomes.
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Eligibility: the fundamental question |
This book is for parents who are interested in securing a private school education for their child and who have questions about how to make private school tuition a financial reality.
Here’s a quick rhetorical distillation of the questions and topics that
you might be asking:
• Tuition is high. We want to afford private school, but we have limited resources. Is our family eligible for financial aid?
• Are we eligible for financial aid?
• Are we likely to receive an FA award?
• Is there a way to figure out if we qualify?
• Who can help us? To whom should we speak?
• Where should we start?
Placing your family in the financial aid continuum to determine where you stand and the likelihood of FA eligibility isn’t as difficult as you might think.
Many families mistakenly believe they will not qualify. However, no specific income level disqualifies a family from financial aid. FA eligibility is based on many factors. Always investigate the possibility of receiving financial aid if you feel you cannot pay all of the costs yourself.
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Your financial aid conversation begins with these primary financial aid questions |
• What percentage of students receive financial aid?
• What is the school’s average grant?
• If your child receives financial aid for one year, what is the school’s policy for renewing granted aid in subsequent years? If you are separated or divorced, how does the school evaluate your family’s financial status and ability to pay?
• What options exist if you don’t get the aid you need?
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The financial aid process is thorough and rigorous |
A successful financial aid application requires planning, attention to detail, and tenacity. Be prepared to commit your time and be ready to use a fine-toothed comb as you gather your financial information and answer questions.
Don’t become discouraged or give up on the financial aid process.
Financial aid is a significant part of the decision to provide your child with the best educational opportunities you can find.
Be prepared to spend time and effort on all phases of the financial aid process—communicating with the school, gathering documents, and entering data.
Don’t leave parts of the FA process undone until the last minute.
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Seeking financial aid is a process, not a recipe |
Financial aid is a process—often with a good number of dead ends before finding what you need.
There’s no ready money. The best approach to any process is to understand it, to harness it for use, to be at peace with the possible outcomes, and to breathe.
Completing the FA process will not produce a specific result. Each school administers its own financial aid program, making awards and grants based on the need-based financial aid. The amount of aid you might receive varies on how much aid the school has available and the qualification of your FA application.
Prepare yourself to be told “no” or to receive financial aid packages smaller than
what you believe you need or qualify for.
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Financial aid is a finite resource |
Financial aid monies are finite and scarce. A school doesn’t want to limit the ability of any good student to attend. However, a school must allocate its resources (financial aid budget in this discussion) in the best way that it knows how and in accordance with its financial aid policies.
Expect to pay something: private school is a partnership between school and family
In the spirit of partnership between school, student, and family, when a school makes a financial commitment to support a student, it wants to see a similar promise from a family. This establishes a shared seriousness and common bond.
Even if your family qualifies and receives a substantial aid package, be
prepared to pay something.
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Educate yourself about what ‘financial aid’ means: what are we talking about when we use the term financial aid? |
We’re often talking about a combination of different types of aid: need based social support and grants combined into a single package that can make school tuition affordable for a given family.
Financial aid is not simply a grant or a lower tuition number awarded by a school.
A family’s financial aid package is exactly that—a series of different solutions in the form of grants, social support, or maybe a tuition payment plan—woven together to build a package that makes a school affordable for a family.
Your financial aid application should include a conversation with the school. Do research and make yourself knowledgeable about the kinds of aid and financing available from the school such as grants, tuition discounts, or payment plan.
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Talk with your school: a healthy financial aid application begins with an open, honest dialog between family and school |
Start with your school(s). The number one resource regarding financial aid policies, requirements, and resources is the financial aid officer or director at the school.
No one will know more about aid and financing options for their students than your school.
Do NOT become angry or frustrated with the school or the financial aid officer working with you.
Every financial aid officer is a serious professional working to build a solution that works best for everyone.
Always keep the dialog open and leave a conversation with everyone feeling positive, even if the result was imperfect.
If a resulting financial aid package is too small to make attendance possible in the coming year, it’s not unheard of for a school to encourage a second admission and financial aid application the following year, if it works for the student.
The two ways to learn if you qualify for financial aid:
The aid officers can provide you with a rough idea of whether or not your family fits in that school’s financial aid window.
Formally applying for financial aid yields a specific expected family
contribution and a subsequent aid package from the school (upon completed application).
To definitively determine your family’s eligibility, you must formally complete the financial aid application at the school. The financial aid officer(s) at RS school can provide you with their application and application process.
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The possible parts of a financial aid package and what they mean |
This is a distilled look at the types of financial aid along with information about discounts granted by the school according to its policy.
Cash Payment Discounts
RS provides instinctive 10% discount upon the fully cash payment of the tuition for the upcoming year. (Doesn’t need Financial Aid Application)
Scholarship Discounts
RS grants automatically 10% to its students whose average is 90% and above, this 10% is considered an inevitable scholarship discount. (Doesn’t need Financial Aid Application)
Sibling Discounts
These discounts are based on the number of children you enroll in the school. Every brother/ sister gets 10% discount. (Doesn’t need Financial Aid Application)
Social Support
This is our main concern in this book that the Financial Aid application copes the social support discounts according to each family situation and capabilities. Each application will be studied closely to assess the percentage of discount to be given based on the genuine applications applied to FA department at RS. Also take into consideration any application that contains hidden details or have false information will be automatically considered void, and the tuitions should then be paid in full.
The range of the Social Support given varies, as we mentioned earlier, it could be from 10% up to 50%.
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Apply for financial aid: a plan and a commitment |
Start early. Procrastination leads to missed opportunities and anxiety.
Applying for financial aid can be both stressful and time-intensive. Just as you get your “ducks in a row” for your admission application, you’ll do the same with your FA application.
Chart a plan and a calendar to guide your financial aid application
Remember, learn your financial aid deadlines and follow these tips:
• Be accurate and precise in all reporting and dealings
• Be open
• Be honest
• Ask questions
• Follow up with your schools
Deadlines
Request information early and be sure to contact school’s financial aid officer with any questions.
FA deadlines come early and they are hard and fast. You put your chance
of receiving an FA award in mortal jeopardy by missing a deadline.
A template for an ideal financial aid timeline
January- May
• Begin the application process.
• Begin an open, honest dialog about your financial aid application.
• Introduce yourself to the Financial Aid officer at the school.
Let them know that FA will be part of your application. Ask them about their financial aid process. Do they have an FA application package that they can send? Do they have any ‘school specific’ processes or requirements of which you need to be aware?
Pose these questions to the Financial Aid officer:
• What’s the realistic full cost of attendance?
• What’s the FA application deadline?
• What types and combinations of FA does the school offer?
• What (if any) additional information or forms are required of small business?
• Do you have any special procedures for separated/divorced parents?
• Does the school require a minimum contribution from families, or, can financial aid cover all school costs?
• If my child receives financial aid for one year, what is the school’s policy for granting aid in the following years?
