Understanding Financial Aid at College Prep
What is financial aid at College Prep, and how does it work?College Prep’s need-based financial aid program bridges the gap between what a family can afford and the full cost of tuition. The Financial Aid Committee determines each family’s demonstrated need by evaluating their
Clarity application and supporting documentation.
Who can apply for financial aid?
All current and prospective College Prep students may apply for financial aid, regardless of grade level, admission status, or whether they’ve previously received aid.
Are there opportunities for merit-based scholarships?
No. All financial aid at College Prep is entirely need-based. We do not offer merit-based scholarships.
Applying for Aid: What You’ll Need to Know
What documentation will I need to submit with my financial aid application?Most families will need to submit recent tax returns, W-2 forms, and other income documentation.
Clarity, our application platform, will guide you through the requirements step by step.
Do you consider home equity or retirement savings in determining need?
Yes. The Financial Aid Committee reviews a family’s full financial picture, including assets like home equity and retirement savings, to determine demonstrated need. That said, we understand that not all assets are readily available for tuition, and we aim to consider each family’s circumstances with care.
Will applying for financial aid affect my child’s chances of admission?
In most years, College Prep is able to meet the demonstrated financial need of all eligible applicants. However, when the financial aid budget is fully allocated, financial need may affect admission outcomes for a small number of otherwise qualified applicants.
Timing, Deadlines, and Year-to-Year Expectations
When will I receive a financial aid decision?New students: Financial aid decisions are sent alongside admission decisions. This season's notification date is March 20, 2026
Returning students: Aid awards are released with re-enrollment contracts in late February.
Do I need to reapply for financial aid each year?
Yes. Financial aid must be renewed annually. Awards are granted one academic year at a time. Families whose financial situations remain stable can generally expect a similar level of support from year to year. Continued aid is contingent on payment of the prior year’s tuition and fees.
If we don’t receive aid this year, can we apply again in the future?
Families who enroll without financial aid are expected to pay full tuition in future years. Financial aid will only be reconsidered if there is a significant and documented change in a family’s financial circumstances.
How does financial aid work for students who are admitted off the waitlist?
Financial aid may still be available for waitlisted students, depending on whether funds remain in the budget. We encourage families to submit a financial aid application by the regular deadline, even if they are placed on the waitlist.
Coverage and Affordability
Does financial aid cover costs beyond tuition?Yes. We want every student to fully participate in the College Prep experience—in and out of the classroom. In addition to tuition, financial aid may cover a proportional share of non-tuition expenses—such as books, the annual laptop fee, the Intraterm program, and more. These additional costs typically average about $1,500 per year before financial aid is applied. Learn more about our
Beyond Tuition program.
Does College Prep offer payment plans?
Yes. We offer several tuition payment plan options to help families spread payments throughout the year. Details are provided by the Business Office as part of the enrollment process.
What if we cannot afford the family contribution determined by the Financial Aid Committee?
If your family cannot manage the expected contribution, you are encouraged to reach out to the Financial Aid Office and provide additional documentation. We will review your request thoughtfully and individually.
What if my financial situation changes after I submit my application?
If your family experiences a significant change—such as job loss, unexpected medical expenses, or a major life event—after submitting your application, we encourage you to reach out to the Financial Aid Office. We’re committed to reviewing updated information thoughtfully and confidentially.
Family Circumstances and Special Considerations
How does the school approach financial aid for families with divorced, separated, or non-cohabiting parents?
College Prep requires both custodial and non-custodial parents (or guardians) to submit separate financial aid applications and documentation. If either parent is remarried or living with a partner, financial information from all adults in the household must be provided to determine the family’s ability to contribute.
What if a non-custodial parent is unwilling to participate in the financial aid process?
Aid is determined by each household’s financial capacity, not willingness to contribute. If a non-custodial parent has no relationship with the student and does not provide financial support, the requirement may be waived at the Committee’s discretion. A signed statement from a professional third party—such as a counselor, clergy member, attorney, or social worker—may be required to confirm the situation.
How does the school consider a stay-at-home parent in the financial aid process?
To ensure equity among families, College Prep typically imputes a modest income for a non-working parent. Exceptions may be made if the parent is caring for a young child, a dependent with special needs, a seriously ill relative, or is themselves unable to work due to disability. These circumstances should be clearly described in the financial aid application.
Questions?
Who should I contact with questions about financial aid?We’re here to help. Please contact Jonathan Zucker, Director of Financial Aid: