|  | Tuition for the 2010-2011 Academic Year
Boarding Students
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| Tuition, room and board |
$44,775 |
| Activity/technology fee |
$600 |
| International student fee |
$500 |
Day Students
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| Tuition and lunch |
$32,550 |
| Activity/technology fee |
$600 |
Families are responsible for books, supplies, some athletic equipment, personal expenses, and travel. On average these costs run between $800 and $1,200 per year.
Families have three options when it comes to payment of tuition:
- Full tuition payment by July 31st.
- 65% of tuition payment by July 31st (which includes the registration fee, payable upon enrolling at Millbrook) and the remaining 35% of tuition payment by November 30th.
- A 10-month, interest-free payment plan offered through Tuition Management Services.
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Millbrook School seeks to attract and maintain a highly capable and diverse student body. To help meet that commitment the school offers financial aid to qualified students on the basis of the demonstrated financial need of the family and the availability of funds. Families should not be discouraged from applying to Millbrook because of limited financial resources. For the 2009-10 academic year 27% of Millbrook students received grants and loans totaling $1,960,000.
Millbrook School does not offer merit scholarships; the Financial Aid Program is need-based. It is the school’s expectation that families receiving financial assistance embrace the value of a Millbrook education and make it a priority in their financial planning.
Financial aid decisions are made independent of admission decisions. Once students who have applied for financial aid are accepted in the admission process, they are referred to the Financial Aid Committee which reviews the families’ financial information, calculates their demonstrated need, and determines their financial aid awards.
The demand for financial assistance from new and returning families far exceeds the availability of funds. Thus it is important for families to understand that a student may be admitted to Millbrook but not receive a financial aid award. This may be difficult for students and families to reconcile, but philosophically we believe it is important to keep the two processes separate, and not have a family’s a financial status determine the outcome of the admission decision. If a student does not receive a financial aid award, yet chooses to enroll nonetheless, there is no guarantee that the school will be able to offer financial support in subsequent years.
Millbrook School subscribes to the School and Student Services (SSS). SSS assesses a family’s financial need by taking the detailed financial information supplied by the family and applying it to a formula nationally accepted by independent schools. The organization then makes a recommendation to Millbrook as to the amount which the family can contribute toward their child’s education. Read the steps for applying for financial aid to the right, and then click on the SSS logo below to visit the NAIS website.
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| | How to Apply for Financial Aid | Simple Steps Follow these three steps to apply for financial aid at Millbrook: |
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1. Apply before the financial aid deadline, January 31, 2011Notify the Admission Office via the online inquiry form, email, or phone (845-677-8261 x138) of your intention to apply for financial aid. |
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| 2. Apply online at www.sss.nais.org Starting on November 1, you may begin the application process online. Click here to access the Parents’ Financial Statement (PFS). You will be given a username and password which will allow you to return to your PFS at a later date before submitting it. Your documents will be handled with the utmost level of security. Millbrook’s school code is 5092. In the case of separated or divorced parents, Millbrook requires information from both natural parents and step-parents. If you are self-employed, you will need to complete the Business/Farm Statement available on the SSS website. |
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| 3. Submit Other Supporting Documents In addition to submitting the PFS, you are required to mail additional important documents to support your financial aid application: SSS By NAIS, Application Processing Center, P.O. Box 449, Randolph, MA 02368 (For overnight mail use this address: SSS by NAIS, Application Processing Center, 437 Turnpike Street, Canton, MA 02021). Required additional forms include:
- Signed Form IRS 1040 with all supporting schedules from the current year (2009). If your 2009 tax return is not ready, send in the 2008 and forward the 2009 by February 15.
- 2009 W-2 and/or 1099 forms for all working parents
- Signed copy of IRS form 4506-T
- Business Farm Statement (if applicable)
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| Unable to Apply Online? If you are unable to apply for financial aid online, please contact the admission office at 845-677-8261, and we will mail you a printed PFS. Follow the same process for submitting the other required documents as above. For questions about the PFS online, you may call SSS at 800-344-8328, Monday-Friday, 9AM-8PM EST, and Saturday, 9AM-4PM EST. |
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| Admission & Financial Aid Decisions Admission and financial aid decisions will be mailed on March 10th to all families who applied by January 15th. Those wishing to matriculate at Millbrook must inform the admission office by April 10th. |
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Business Farm Statement
Families should complete and submit the Business Farm Statement if they own businesses and/or farms.
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| Frequently Asked Questions | Q. | How is my financial need determined? | | A. | SSS takes into account a number of standard and universal financial factors when computing a family’s financial need. Some of the most notable are income and expenses, assets, family, size, age of parents, number of children, and number of children attending tuition-charging institutions. From these criteria, a figure of discretionary income is calculated, and then a portion of this amount is suggested as the contribution a family should be able to make toward educating their child at a secondary school. SSS sends a copy of the Report of Family Contribution (RFC) to the schools designated by the family on the PFS. Millbrook’s Financial Aid Committee will use this recommendation as a starting point for determining a family’s award, bearing in mind that there are many special conditions surrounding each family’s financial situation. The Financial Aid Committee also takes into account a family’s financial strength relative to all of the families who are applying for aid as well as the availability of funds which the school has budgeted for this purpose. |
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| Q. | Are there special circumstances that can affect a family's level of contribution? | | A. | There are a few special circumstances further described below:
- In the case of divorced parents, Millbrook's financial aid awards are based on both parents' ability to contribute toward tuition, not on their willingness to do so. If the custodial parent remarries, the step-parent's income information must be recorded on the PFS, and the family's ability to contribute toward tuition is based on both the natural and step-parent's joint financial picture. The Financial Aid committee understands that each case of separation or divorce is unique in nature and may require additional explanation and conversations. Please do not hesitate to contact the Director of Financial Aid to discuss specific circumstances.
- The Financial Aid Committee usually does not allow for income losses for depreciation on homes and property, as well as income losses from private businesses or business-related investments.
- It is Millbrook School's expectation that unless a parent is disabled or has responsibility for small children at home, both parents should have employment. If this is not the case, then an adjustment for the potential of income from the non-working parent is often made on the PFS.
If you have any specific questions about the above policies or methods of computation, please contact the Director of Financial Aid, Linda Casertano.
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| Q. | Does Millbrook have a loan program? | | A. | Most financial aid awards provided by Millbrook’s Financial Aid Committee are composed of a grant and a low interest loan, both of which are allocated directly from the school’s financial aid budget. Each loan requires a formal promissory note signed by either the student’s parents or guardian, or by some other financially responsible individual. The loan program works as follows:
1) The loan has an annual interest rate of 5%, with interest waived while the student is attending Millbrook School. The first interest payment is due July 15th of the year of graduation or withdrawal from the school, and each year thereafter during the life of the loan. Interest is charged on the unpaid balance. No penalty is levied for early payment of the loan.
2) Payment of the principle commences four years after graduation or withdrawal from the school. It is to be repaid over the next four-year period with 15% of the loan due in the fifth year, 15% due the sixth year, 30% due the seventh year, and 40% due the eighth year (along with interest each year).
3) Default in payment of the interest or the principle renders the whole sum due immediately. |
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| Q. | What can a family expect from year to year? | | A. | The procedures and deadlines for filing financial aid forms are the same for returning students as they are for new students. Awards are recalculated each year, and thus returning families are required to complete the Parent Financial Statement again and submit updated tax information. Failure to file with SSS by the January 31st deadline could jeopardize a student's financial aid reward.
A family can expect that a student's financial aid will continue throughout his or her tenure at Millbrook. The size of the award may vary as the family's financial circumstances change. However, a student's failure to meet academic expectations commensurate with his or her ability and to adhere to Millbrook's standards of conduct can adversely affect the renewal of an award.
Please contact the Admission Office if you should have any questions:
Linda Casertano
Director of Financial Aid
Millbrook School
131 Millbrook School Road
Millbrook, New York 12545
Phone: (845) 677-8261 Fax: (845) 677-1265
Email: Linda Casertano |
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