Frequently Asked Questions About Financial Aid
What is the “cost of attendance”?
This term refers to the total cost of one academic year including tuition, books and required school fees.
Will failure to meet deadlines affect the possibility of receiving financial aid?
Yes. Financial aid is allocated to those families who meet the PFS deadline (January 31) prior to considering those who apply after the deadline.
What if we are unable to complete the financial aid application on time?
If you are unable to meet the deadline, notify the Office of Financial Aid at 617-898-2239.
Will applying for financial aid affect the admission decision?
If you need aid, you should apply. Admission applications are read without regard for a family’s ability to pay. Only in the final phase is the selection process “need aware,” as the admission committee weighs its decision against available funds.
If my child enrolls at Milton and does not receive financial aid, can we apply for aid in subsequent years?
Milton Academy expects families who enroll without receiving financial aid to continue to pay tuition in full. You may apply for aid at any time; however, in order to be considered for aid, you must demonstrate that your family’s financial situation has changed significantly.
Can financial aid change from year to year?
Your aid will be adjusted if your family’s financial circumstances change significantly.
What levels of income does Milton consider in awarding financial aid?
Milton considers each application individually. We consider families within the full spectrum of financial situations, and income is only one of the factors we consider in assessing a family’s need. Milton seeks to include families from a broad economic range including not only those families who have substantial need, but also those who, with some financial help, would be able to consider a Milton education.
How much can my family expect to contribute?
Milton expects your family to do all it can reasonably do to meet educational expenses. Financial aid makes up the difference.
Does the school require a minimum contribution from families or can financial aid cover the entire cost of attendance?
When there is evidence that a family cannot contribute to the cost of attendance, Milton provides complete funding.
Does Milton award merit scholarships?
No; all aid is need-based.
Is aid available for extra educational costs?
Milton has limited funds available for supplemental stipends to support independent and collaborative projects of students during the academic year. Students who wish to apply for a supplemental stipend should contact the Office of Financial Aid.
What if our financial situation is changing significantly right now?
If extenuating circumstances are affecting your family’s financial stability, document these factors and submit the documentation as part of your financial aid application.
How is financial status and ability to pay evaluated if the student’s parents are separated or divorced?
Milton expects both parents to contribute to educational costs.
How does Milton determine need if a parent refuses to be included in the assessment process?
We assess each case on an individual basis. Please contact the director of financial aid with questions or concerns.
What should I do if my family’s financial situation is complicated?
Include a letter in your application if there are circumstances that Milton should consider when determining your financial need. Please be as specific as possible with dates and figures.
Does a financial aid award include an on-campus work requirement?
Does the school offer tuition payment plans or loan programs?
The Tuition Management Systems (TMS) administers an interest-free, ten-month payment plan. Find information about this plan at the TMS Web site: www.afford.com. Direct questions about the plan to TMS at 1-800-722-4867.