The Need is Greater Than Ever

The Cost of Financial Aid The Need is Greater Than Ever 100*=$2.5 "Educating all students, regardless of their ability to pay" St. Philip's Academy subsidizes at least 55% of the cost of every enrolled student's education. MILLION Growth in Student Population + 70% $1.0 1988 2011 10 360 MILLION 70% of all students receive further financial aid. Cost to Educate vs $3.5 Our full cost to educate is $18,600 per student for Tuition Costs School Cost Average Cost to Educate Tuition Cost Average Parent Cost the 2011-2012 school year. In addition to the overall tuition subsidy of at least $10,800 that all of our students receive, last year 70% qualified for and received $1,123,436 in supplementary financial aid. TASKED TO RAISE (10-11 School Year) MILLION St. Philip's Academy $16,390 ORANGE E NEWAR Tuition $7,295 .................. ******************** ** Dwight-Englewood School (Englewood, NJ) $29,120 Growth in Financial Need Tuition $28,050 75% Far Brook School (Short Hills, NJ) $25,469 14 Tuition $22,950 45% Increase in Tuition IRVINGTON Far Hills Country Day School (Far Hills, NJ) $26,050 900% Increase in Financial Aid of our students years Tuition $27,000 come from Urban areas. $29,468 "St. Philip's has created a challenging and nurturing Kent Place School (Summit, NJ) Tuition has risen by only 45% over the last 14 years, whereas aid has increased Tuition $30,131 environment for our children. It by 900% because of growth in student population and financial need. gave my son a foundation that has helped him through the rigors of one the most eompetitive high schools in this country. Iam eternally grateful." State Average - New Jersey, NAIS members $22,263 The Elisabeth Morrow School (Englewood, NJ) $25,472 Revenue Sources 3% Other 8% Fundraising Tuition $26,900 (2009-2010) - Belinda Caraballo, P'07 The Peck School (Morristown, NJ) $26,910 Tuition $27,420 38% Most independent schools are funded 85-90% by tuition; charitable gifts represent only 10-15% of the budget. 60% Eundraising Tuition The Pingry School (Martinsville, NJ) $30,874 & Fees 89% & Fee Tuition Tuition $27,323 Newark Public Schools 09-10 $22,992 St. Philip's Academy Average NJ Independent Schools Statistics for all charts provided by NAIS Stats Online 2009-2010