Tuition & Financial Assistance
2022-2023 Tuition & Fees
|7th & 8th Grade Tuition||$39,000|
|9th - 12th Grade Tuition||$41,500|
- Tuition and fees are subject to review annually.
Most expenses are included in tuition (e.g., books, outdoor education, technology device). For students receiving financial assistance, a percentage equal to their financial assistance award is applied to tuition and any additional costs essential to the Prep experience.
To help families budget their Prep tuition, the school offers families three payment plans – one-time payment plan, two-time payment plan, and 10-time payment plan.
2022-23 Applying for Financial Assistance
Diverse communities are more creative, more effective at problem solving, and more empathetic. Those values align with Prep’s values. If the cost of a Prep education feels out of reach based on your family’s financial circumstances, we hope you will consider exploring Prep’s Financial Assistance Program and submit an application.
With a budget of almost $3.7 million, financial assistance awards range from 10% to 100% of school costs. One in four Prep students receives financial assistance with the average award of $21,525 covering over 50% of Prep’s tuition.
We believe in enrolling a diverse community, and every family, full-pay and those receiving assistance, is served by Prep’s Financial Assistance Program.
FAST and the application process
Prep’s financial assistance awards are based on a family’s calculated financial need. Information to determine the award is gathered through the online Financial Aid for School Tuition (FAST) application. As part of the process, families provide current federal tax documents as well as information about gross taxable income, assets, liabilities, family size, daily living expenses, number of children in tuition-charging institutions, among other things. From this information, the Financial Assistance Committee determines what amount, if any, your family can pay towards your student’s Prep tuition and expenses. The financial assistance award covers the difference between Prep’s tuition and expenses and the amount calculated by the Financial Assistance Committee.
PREP’S FINANCIAL ASSISTANCE AWARD = PREP TUITION/EXPENSES — AMOUNT FAMILY CAN PAY
This process takes place at the same time as, but is separate from, the application for admissions. Families apply for financial assistance using the online FAST financial assistance application.
- Due January 20, 2023: FAST application; 2021 Federal 1040 or 1040A and all supporting tax schedules, if applicable.
- Due February 3, 2023: 2022 W-2, 1099, and Schedule C, if applicable.
- Due April 15, 2023: 2022 Federal tax forms (Federal 1040 or 1040A and all supporting tax schedules, if applicable)
Financial Assistance FAQ
We’ve addressed frequent topics below, which you can access by clicking on each question. If there’s something left unanswered, please contact Theresa King, Director of Finance and Operations.
- Who should apply for financial assistance, how much are the awards, and what are the criteria in making awards?
- How do I apply for financial assistance? What is FAST (Financial Aid for School Tuition)? Is there a fee to apply?
- If my student receives financial assistance from Prep, what beyond tuition is covered by the financial assistance award?
- What are my chances of receiving financial assistance? What percentage of Prep's students receive financial assistance and what is the average award?
- Does financial assistance need to be paid back?
- What if parents/guardians are divorced, separated, or never married?
- What documents do I submit in addition to completing the FAST application?
- Does Prep offer financial assistance based on extracurricular talent or academic merit?
- Will applying for financial assistance affect my student's application for admission?
- When will we know if we were awarded financial assistance from Prep?
- Do families apply for financial assistance every year? Is financial assistance guaranteed through the duration of my student's enrollment at Prep?