In 2017-18, Lawrenceville will continue to offer financial aid to those students who demonstrate need. The current financial aid budget of over $12.3 million reflects the School’s commitment to supporting students from a broad range of economic situations.
When considering a Lawrenceville education, families should expect to contribute to their child's educational costs at the highest possible level given their economic situation. For those families who are unable to meet the full cost of a Lawrenceville education, financial assistance is available. All financial aid awards are based solely upon the family's need as determined by the Financial Aid Office. No awards are based on the academic, athletic, extracurricular activities, or talents of the applicant. Lawrenceville does not award merit scholarships to incoming students.
Lawrenceville uses the School and Student Service (SSS) to collect basic financial information on income, assets, family size and the number of siblings in tuition-charging schools. The family must complete and submit a Parents’ Financial Statement (PFS). A need analysis report is prepared by SSS that suggests the amount a family can contribute for educational costs.
Since not all families’ financial circumstances are equal, the Financial Aid Office uses the SSS evaluation as the starting point for Lawrenceville’s review of each applicant’s request for financial aid. When determining the family’s contribution, the Financial Aid Office considers gross taxable income and non taxable income, assets, liabilities, family size and the number of students in tuition-charging schools or colleges, excluding parents and students seeking graduate degrees. After allowing for basic necessities and taxes, the remaining funds are considered available to cover the cost of Lawrenceville’s expenses.
Lawrenceville’s calculated parent contribution may differ from the SSS calculation. For example, the Financial Aid Office usually disallows most losses and depreciation on second homes and hobby businesses. The Financial Aid Office may also make allowances for the difference in “cost of living” in some communities. In addition, the Financial Aid Office may consider the potential for income to be earned by a non-working parent who does not have small children at home.
In cases of a divorce or separation, Lawrenceville requires information from both natural parents and any stepparents. Each parent must complete and submit a Parents’ Financial Statement (PFS). The family’s ability to contribute is based on both natural parents’ and any stepparents’ income and assets.
Lawrenceville will not be bound by any divorce agreement specifying a parent's responsibility for educational expenses since the School was not a party to this agreement nor represented at the hearing. Divorce or separation agreements relate to the personal resources of the parents, not the School. Likewise, the School cannot be bound by the assertion that one parent has disclaimed responsibility for the student.
Once the family’s contribution is determined, the Financial Aid Office will assign an aid package to meet the unmet costs of attendance. The award is conditional upon the review of your current Federal tax return or the “Parent’s Non-Filer’s Statement”. If your child is required to file a tax return, you must submit a copy to SSS for review.
The amount you can reasonably contribute toward meeting the cost of a Lawrenceville education is reviewed annually. Your contribution may increase, decrease, or remain the same depending on the change in your financial circumstances from year to year.
Lawrenceville does require that requests for financial aid be made at the time families file the admission inquiry form. If you do not apply for financial aid the first year of your child’s attendance at Lawrenceville, the Financial Aid Office may not award aid in subsequent years, unless there has been a significant change of circumstances. An example of such a change would be the loss of income, death of a parent, or an additional child entering a fee-charging school.
Families of enrolled Lawrenceville students who do not currently receive financial aid should call the Financial Aid Office to inquire about applying for assistance, if financial circumstances have changed.