Financial Aid FAQs

What is Financial Aid?

The Lovett School is committed to admitting qualified students regardless of a family’s ability to pay the full cost of tuition. Financial aid awards are based on a family’s demonstrated need and are made available to students at all grade levels. 

How is Financial Aid determined?

Lovett uses Tuition Aid Data Service (TADS) to process financial aid applications. The financial information you provide gives us an estimated amount your family can contribute to educational expenses. This estimate is a starting point to help us make fair and objective financial aid decisions. Demonstrated need is defined as the difference between the tuition cost and the recommended amount that a family is able to contribute toward the student’s education after considering such factors as net income, assets, number of dependents, number of students attending tuition-charging institutions, and any unusual expenses such as medical costs or educational debt.

What documents are required in the application process?

  • A copy of both parents' or guardians' 2015 1040 federal tax return with all schedules and W2s.
  • A copy of both parents' or guardians' 2016 1040 federal tax return with all schedules and W2s.
  • If either parent or guardian is self-employed, a copy of the 2015 and 2016 corporate tax return.
  • Supplemental Information Form, which will be provided by TADS upon completion of the on-line application.

Who can apply?

Anyone can apply for Financial Aid, but only students who have been accepted to Lovett and have completed the Financial Aid application process can be considered.

How much Financial Aid may I expect to receive?

Each award is considered individually. Only after financial need has been established through the third-party process can the amount of aid offered be determined. The average Financial Aid grant for the 2016-2017 school year was $16,049.

Where do I get Financial Aid information?

To begin your financial aid application for the upcoming school year, please visit the Online Filing and Application Instructions link and follow the steps. You only need to complete one application, even if you are applying more than one child.

Is there a deadline to be considered for Financial Aid?

To be eligible for consideration for financial aid, you must complete and submit all required documents by March 1. The Financial Aid Committee will communicate financial aid decisions in April.

Is Financial Aid renewable each year?

Each year, new applications must be filed with TADS as well as tax return copies provided to TADS. Changes in your financial status may affect the receipt of aid. Your student’s account must be kept current, and the student must maintain acceptable standards of academic performance and citizenship, as determined by the division principal and/or Headmaster to be considered for renewal. Students who receive financial aid are expected to contribute in positive ways to the daily school community.

Does Financial Aid influence admission decisions?

Financial Aid does not influence admission decisions. Admission to Lovett is an entirely separate and unrelated process

What about a divorce, step-parent situation?

Lovett expects both the custodial and non-custodial parents to participate in the support of their child at Lovett. It is up to all parties involved to communicate and participate in good faith with this responsibility. The School will likely request the non-custodial parent provide supporting financial documentation. If a child is living with a parent and step-parent, Lovett will consider the step-parent’s income.

Are there any restrictions on Financial Aid students?

Each Financial Aid recipient is expected to maintain appropriate academic standards, to behave in a responsible and honorable manner, and to play a positive role in the daily life of the school community. Failure to maintain grades acceptable to the administration may disqualify a student for future Financial Aid awards. The parent’s fulfillment of financial aid and other obligations to the School will also be considered in renewing Financial Aid. Summer programs do not qualify for Financial Aid.

How are non-income producing parents considered when determining Financial Aid?

The Lovett School will assess and define an income level for non-income producing parents. This amount will be factored into the Financial Aid consideration.

Are there payment options?

An education from The Lovett School is an investment in your student's future. We realize, however, that education costs are a significant financial commitment and may be a challenge for families. Please review the Financing and Payment Options link for more information.

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