Tuition & Financial Aid
The Office of Admission is committed to working with families to make a Masters School education financially possible. Although we believe that the primary responsibility for financing a child’s education rests with the family to the full extent that they are able to contribute, the School offers a generous need-based financial aid program in order to enroll qualified students who may not otherwise be able to afford tuition. During the 2015-2016 school year, over 25% of the student body received financial aid, which totaled more than $5 million.
To start the financial aid application process, to enroll in tuition payment plans, and/or to learn more about financing a Masters education, please refer to the information included below.
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If you would like a good overview on financial aid, we recommend reviewing the brochure "Understanding Private School Financial Aid". To be eligible for consideration for financial aid at The Masters School, you must complete your application by February 1st for new applicants and January 5th for returning families. We will communicate decisions about financial aid in your admission notification packet.
The Masters School uses School and Student Services (SSS) to process our financial aid applications. SSS is a service of the National Association of Independent Schools. Based on the financial information you provide, SSS forwards us your Parents' Financial Statement as well as your Report of Family Contribution, which estimates the amount that your family can contribute to educational expenses. This, in conjunction with our school policy, helps us make fair and objective financial aid decisions. To begin your financial aid application for the 2016-2017 enrollment year, please read our Financial Aid Policy and then follow the steps below:
1. Go to sss.nais.org.
2. Click on the prompt to begin your Parents' Financial Statement (PFS). You only need to complete one PFS even if you have several children applying to our school. The Masters School code is 4948.
3. You will be given a username and password that will allow you to return to your PFS at a later date before submitting it. Your information will be secure.
4. You will be given instructions about submitting backup documents. At The Masters School, we require your two most recent tax returns and your PFS.
Note: If you apply for financial aid online, your information will be delivered accurately, quickly and securely to our school, allowing us to make a quicker decision about your eligibility for financial aid.
Financial Aid Application Check List:
- Visit sss.nais.org to begin
- Complete the Parents' Financial Statement (Masters' PFS Code: 4948)
- Provide most current Tax Return & W2 Form (two years for new applicants)
Annual One Payment Plan
This payment plan offers families the option of paying the entire year's tuition and any fees by July 31, 2016.
Annual Two Payment Plan
This payment plan requires families to pay 60% of tuition and any fees by July 31, 2016 and the remaining 40% of tuition and any additional fees incurred by November 30, 2016 - with no interest or other charges.
Monthly Payment Plan
The Masters School Monthly Payment Plan, administered by Tuition Management Systems (TMS) is a convenient budget plan that divides tuition costs into 10 interest-free installments for one low fee. Payments on this plan begin May 1 and are completed in February. Enrollment in the Tuition Management Systems Ten-Month Payment Plan must be completed before JULY 31. Those who enroll after May 1 must make all back payments at the time of enrollment.
These plans cover tuition only. All other fees will be billed separately and are due in the month in which they are billed.
For more information on any of these plans, please contact Anna Delahanty at 914-479-6450 or email email@example.com.
For the 2016-17 academic year, The Masters School is utilizing a secure and efficient electronic enrollment process via InfoSnap as well as partnering with Tuition Management Systems (TMS) again for our electronic billing and payments. Tuition Management Systems (TMS) offers online features including real-time payment, billing, and balance information to help our families manage their education bills. TMS Frequently Asked Questions
All charges must be paid for by their due dates to assure the student's place at Masters. A late fee of 1.5% for each month or portion thereof may be assessed to each account on amounts not paid by the due date.
Acceptable means of payment for the student invoice are:
- Online Payments (links below to specific payment sites):
- Monthly payment plan - ACH payment through Tuition Management Systems (TMS)
- Bank wire
- JP Morgan Chase
12 Ashford Avenue
Dobbs Ferry, NY 10522
Credit to The Masters School
For (student name & ID #)
Swift code for international wires #CHASUS33
A $30 charge will be assessed each time a check presented in payment of a student's account is not honored by the bank. If the returned check was the means of meeting a payment deadline, the deadline will not be considered met and the appropriate late charges will be applied.
If you have any questions about the enrollment process, please feel free to contact Anna Delahanty at 914-479-6450 or email firstname.lastname@example.org.
When and how do I apply for financial aid?
Families requesting financial aid must submit a financial aid application and supporting documents annually by the required deadlines of January 5th for returning families and February 1st for new applicant families. These required documents consist of your two most recent tax returns, a personal financial statement (PFS) through the School and Student Services for Financial Aid (SSS) website: sss.nais.org (school code of 4948), and a signed copy of IRS Form 4506 (www.irs.gov). The Financial aid office is available to help with the completion of these forms. Please call (914) 479-6414 for assistance.
How do you decide who gets financial aid?
The Financial Aid Committee, depending on the availability of funds, awards need-based aid to families whose children are enrolled in grades five through twelve using an assessment tool provided by the SSS and in conjunction with The Masters School’s financial aid policy.
When will I know if I will receive financial aid?
New families will be notified of their award in their admission notification packets. Returning families receive financial aid awards with re-enrollment contracts in January. Financial aid awards are contingent upon the receipt of the current year’s tax returns and W-2’s when the award is granted prior to April 15th.
May I expect to receive the same amount of financial aid for each year?
The School will do its best to meet the previous year’s level of aid for each returning student provided the child is a student at The Masters School, there is no significant change in the family’s financial circumstances, and that the submission of all required application documentation is received by the required deadline.
If financial aid is awarded, are any of my other fees pro-rated?
The annual tuition deposit of $3,000 will be reduced to $2,000 for families receiving need-based financial aid of up to 74% of tuition. Families receiving more than 75% in financial aid will not be required to pay a deposit. However, all new financial aid students are required to pay a one-time $1,000 enrollment deposit that is refundable at graduation or withdrawal, less any outstanding charges remaining unpaid. You will also be responsible for other fees per the 2017-18 Tuition and Fees Schedule.
If my family pays full tuition during the first year and our family circumstances change, may I request financial aid after the first year?
It is the School’s expectation that families paying full tuition will continue to do so unless their circumstances change significantly. New applications for financial aid for returning non-financial aid families will be considered by the Financial Aid Committee. However, the Committee cannot guarantee that it will be able to meet the financial needs of all families.
May I appeal my award?
Families may request a second review of their financial aid award by initiating an appeal process. The written request must be submitted to the Director of Enrollment, providing detailed information on changes that have transpired since the initial evaluation.
Are international students eligible for financial aid?
Yes, international students who demonstrate need are eligible for financial aid providing they submit all required financial aid documentation. International families must submit official proof of income if they do not file U.S. tax forms.
If my family does not qualify for financial aid, does The Masters School offer any type of payment plan?
The School offers a ten-month payment plan through our affiliation with Tuition Management Systems (TMS). For more information, please contact the Business Office.