Tuition 2007-2008

Middle School, Grades 5-8: $21,840
Upper School, Grades 9-12: $22,160

Fees 2007-2008

Middle School

Upper School

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General Financial Aid Information

Lakeside School is committed to enrolling students from diverse economic and social backgrounds. As part of that commitment, the school has established a program of financial aid for families – possibly like yours – who would otherwise be unable to consider Lakeside as an option for their children. In fact, more than one in every five students currently attending Lakeside School is receiving financial aid.

Our financial aid program helps not only with the cost of tuition but also with the entire range of additional fees and activities that are part of a Lakeside experience. Tuition awards for the 2007-2008 school year range from $1,000 to $22,060, and the average tuition award for the coming year is approximately $15,437. Altogether, over $2,855,000 in tution grants that do not have to be repaid, faculty and staff discounts, and loans has been allocated to 24 percent of the student body.

This total also includes assistance given with fees, books, laptop costs, and activities.  In some cases, meals and transportation are offered.  We try to make the financial aid program as seamless as possible. Information about students on aid is kept confidential, and the financial assistance is automatically credited to a student's bill; only occasionally will a student need to bring cash or a check to school.

What types of aid does Lakeside offer?

A financial aid scholarship is an award from the school that does not need to be repaid. All financial aid is based on family need. We do not offer merit or no-need scholarships. Some need-based scholarships, however, are named by donors who have contributed substantially to the financial aid endowment, and each year a few of these become available for students applying to the school. For more information, click on "Endowed Scholarships."

Financial aid awards may also include deferred tuition loans once a student is in high school. The loan portion is repaid to the school and is interest-free while your child is enrolled at Lakeside. Families receiving large grants are less likely to receive loans as a portion of their financial aid award. For four years after graduation or departure, interest accrues at 8% per year and will be billed quarterlly while your child is in college. At the end of this period, families have another four years to repay the deferred tuition loan in regular installments. They may also choose to pay the entire deferred tuition loan total after graduation or departure without penalty to avoid the interest. In general, families receiving large grants are less likely to receive loans as a portion of their financial aid award.

What about expenses beyond tuition?

Each family receiving a scholarship for tuition also receives a separate stipend to help with non-tuition expenses such as books, supplies, class fees, and activities. Stipends range from $275 to $1,145 according to grade level, and are based on the actual expenditures families may expect to encounter. Families receiving the largest tuition grants may qualify for financial help with meal costs and bus passes, as well. In addition, assistance with the cost of a laptop computer - required for students entering grades 7-12 - is provided on a sliding scale consistent with each family’s scholarship award.

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Should I apply for aid?

Few families find it “easy” to pay private school tuition. Most adjust their spending priorities, maximize both parents’ earnings, and carefully manage assets to do so. Some will need financial assistance no matter how carefully they fine-tune family finances. We would like to provide guidelines to help you decide whether to apply for aid, but we have found that each family’s combination of circumstances is unique. The most helpful guideline comes from personal knowledge of your family’s finances. Can you find a way to pay roughly $2,100 each month for 10 months for your child’s education? If not, you may be a candidate for financial aid.

A wide variety of specific family circumstances is addressed in the section Frequently Asked Questions.

The chart below is intended to provide guidance as you consider the possibility of adding Lakeside's tuition to your household expenses. If, after reviewing your situation and the information below, you feel you will need assistance but are uncertain whether you will qualify, it is generally best to apply.

Financial Aid Awards for 2007-2008 

*The broad range of family contributions at a given income level is determined by factors beyond income--most often family or student assets. The number of children in the family, number and size of tuitions to be paid, childcare costs, and a variety of other factors will also affect the family contribution.

**This group includes families paying two or more tuitions to private schools, as well as families paying at least one college tuition. Incomes reported in this group include those derived from combining incomes of divorced parents and their new partners, if any, now living in separate households.

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How do I begin the process?

Simply check “Yes” beside “Financial Aid Candidate” on the front page of the admissions application. This will alert us to send you the financial aid application, instructions, and details of the application process when we begin mailing them to applicant families in January. If you subsequently decide NOT to apply for aid, please notify the Associate Director of Financial Aid.

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How can I get information and advice if I need it?

If you need help assessing your circumstances as you decide whether to apply for aid, or with any part of the financial aid process, please call the Associate Director of Financial Aid at 206-440-2773.  You may also find it helpful to attend our Financial Aid Information Evenings scheduled for Tuesday, January 15, 2008 or Tuesday, January 29, 2008 at 7:00 p.m. (locations to be announced).  Content is the same at both workshops--you need only attend one.

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I don’t think our family will qualify for financial aid.  Are there other financing options available?

Yes.  One place to start is with your own bank.  Loan officers there can discuss home loan refinancing, loans, and other options to help with your planning.  Some families with children at Lakeside have opted to borrow all or part of several years’ tuition expenses through a national lending source that specializes in pre-college and college lending. For example, loans that spread repayment over 10-15 years are the AchieverLoan (www.key.com/educate/independent), and the prepGATE K-12 education loan (www.prepgate.com). More information is available through each company's website or through the Associate Director of Financial Aid at 206-440-2773.

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