An Independent School • Grades 5-12
Affording Lakeside School

by Tearon Joseph, associate director of admissions/financial aid programs director

Happy November! 

This month's newsletter will be focused on our financial aid program. We aim to make the cost of attending Lakeside less of an obstacle for families through our need-based financial aid program. Thirty-two percent of enrolled students receive financial aid. We awarded over $8.4 million in tuition aid this school year and the average tuition of a financial aid recipient is about $9,800.

An additional $600,000+ is available for other school costs like bus transportation, laptops, and books. This non-tuition aid allows students to take advantage of the many programs Lakeside offers, like Global Service Learning and music lessons. Students should have the opportunity to be fully engaged in our community and programs. 

A family’s financial aid application and a student’s admissions application are evaluated separately. Please know that applying for financial aid does not put a student at a disadvantage in the admissions process. Lakeside is fortunate to have a strong financial aid program and families should never be discouraged from applying.

How to apply for financial aid:

Lakeside uses the Parents' Financial Statement (PFS) financial aid application through School & Student Services (SSS). The following steps outline the application process, required documents, and timeline.

Step by step process:

  1. Visit the SSS website.
  2. Create an account or log in to your family's existing account and begin your application. 
  3. Submit and pay for the PFS. Fee waivers are automatically granted to families who qualify based on SSS guidelines.
  4. Upload copies of the required documents (listed below) to your SSS account OR email, mail, or hand deliver to Lakeside’s office of admissions and financial aid.

Additional required documents: 

  • 2022 income statements. This includes W2s, unemployment statements, and Social Security income statements.
  • 2022 IRS Form 1040 and relevant schedules. We also ask that business owners and those in partnerships include a Schedule C, Schedule E, Form 1120, and or K-1.
  • Additional documents may be requested.

Timeline:

The PFS and all additional required documents are due Feb. 2, 2023

The amount of time it takes to complete the PFS depends on the complexity of a family’s financial situation. You can certainly start and finish the application in one sitting and many families choose to complete it in a few sessions. The required tax documents also vary from family to family. As a general rule, the forms a family files with the IRS are the forms that the family submits as part of their financial aid application.

Families learn of financial aid decisions with the admission decisions: Upper School applicants on February 24, 2023, Middle School applicants on March 17, 2023.

You can find more information about the financial aid program here. We are also hosting a financial aid information webinar on January 18. Registration is available through Ravenna.