Walnut Hill is committed to attracting
a socio-economically diverse and talented student population.
While the primary responsibility for financing a student's education remains with the family, we encourage all students and families who have an interest
in attending Walnut Hill to apply for admission, regardless
of ability to pay tuition.
The 2008-2009 boarding tuition is $42,000 and the day tuition is $32,800.
Scholarship funding based on financial need is only available to United States citizens or permanent residents.
Important Scholarship and Tuition Facts
Decisions about scholarships are made based on demonstrated financial need, artistic level of audition/portfolio review, and the need of the School for students with particular training and talent.
Last year, 17.6% of the operational budget of Walnut Hill School was committed to financial aid. This percentage of our budget represents approximately $2.9 million committed to providing access to the specialized education offered at the School.
About half of Walnut Hill students receive scholarships.
Walnut Hill offers many payment plans to assist families with managing the cost of attending the School.
Tuition supports the operational budget of the School. The yearly operational budget of Walnut Hill is approximately $11 million dollars. 72.5% of the School's tuition income supports student instruction and administration; 16% supports scholarships and 11.5% supports the physical plant.
In addition to tuition income, 16% of the Walnut Hill operational budget is derived from the generous support of donors, foundations, alumni, and friends of the School.
How to Apply for Scholarship
While completing the application process, families who are United States citizens or Permanent Residents and who wish to apply for scholarships are encouraged to simultaneously complete the following steps:
The applicant's family must complete the School and Student Service for Financial Aid (SSS) Parents Financial Statement (PFS).
The family must also submit to Walnut Hill the most recent United States Federal Income Tax Return, Form 1040, and all related tax return documents, and the Form 4506-T.
Walnut Hill School may request or require additional information in order to make a scholarship determination.
All parents with legal custody, regardless of the parent with whom the student resides, are required to complete the SSS form and submit tax return forms.
The completed PFS should be sent to the SSS address in Princeton, New Jersey, as indicated on the form.
SSS computes a family's ability to contribute to the tuition cost of an independent school. The forms and instructions for the upcoming school year are available by mail from the Walnut Hill School Office of Admission and Placement.
The SSS Form can now be obtained on-line - Click Here
Tuition Payment Plan Option
Tuition payment plans are typically coordinated between a particular provider and the School. Walnut Hill has a long-standing agreement with Sallie Mae (formerly Academic Management Services or AMS).
TuitionPay Monthly Plan
Sallie Mae
463 Swansea Mall Drive
Swansea, MA 02777
(800) 635-0120
Fax: (508) 235-2978
tuitionpay.salliemae.com
TuitionPay Interest-Free Monthly Payment Plan: Payment terms and materials customized for every school; $45 enrollment fee includes life insurance; interactive web site with financial planning tools. TuitionPay is offered by 1,500 schools nationwide and has serviced over 2 million families.
Tuition Loan Programs
Tuition loan programs assist many families in making tuition payments more affordable by providing the funds upfront, and spreading the payments over a longer period of time than traditional tuition payment plans allow. If you are interested in any of the providers listed here, please contact them directly for current fees, rates, and other details. Most, if not all, are credit-based loans and may have different standards of credit-worthiness. In some cases, as noted, the School must be a participant in the program.
The following companies are National Association of Independent Schools (NAIS) corporate subscribers that offer tuition loan services for grades 9–12. Walnut Hill is a member in good standing of NAIS. The following information is provided as a courtesy to prospective applicants, and Walnut Hill is not responsible for its accuracy.
Key Education Resources
745 Atlantic Avenue
Suite 300
Boston, MA 02111-2735
(800)KEY-LEND (800-539-5363)
Fax: (617) 451-8990
www.keybank.com
Achiever Loan® terms: reserve funds for up to four years of education with one application; apply online or by fax, phone, or mail; pre-qualify in as little as 24 hours; repaid over 20 years; no pre-payment penalty; variable quarterly interest set to LIBOR plus 3.5%; funds paid to school on due dates; 2% origination fee added to loan amount; can borrow up to cost of education, less financial aid received. Families can apply for the Key AchieverLoan online and receive an instant credit decision at www.key.com/achieverloan. Upon approval and once Key receives a signed promissory note, Key will remit 100% of the loan proceeds electronically or by check directly to your School business office.
Citibank/The Student Loan Corporation
750 Washington Blvd
Stamford, CT 06901-3722
(800) 967-2400
www.studentloan.com
CitiAssist® K–12 Loan terms: may borrow up to $15,000 per year; 10-year repayment period; co-signer optional; no application, origination, or repayment fees; interest rate set to Prime plus1.5%; minimum annual income of $18,000; online application available.
If the above products do not meet your needs, other companies provide loan services/products as well. They include:
Higher Education Services, Inc. (HES)
SLM Financial Corporation
The Education Resources Institute (TERI)
Tuition Management Systems
Tuition Payment Plans
Additional Information
Additional information about independent school scholarship
is available from the National Association of Independent
Schools at www.nais.org.
