Not over 50%
Tuition Aid Tip of the Week
Do not give over 50% to anyone, including employees.
Why not give more?
If the services you provide have value, which they do, then they should be paid for. We have found that most families applying for tuition aid can adjust even meager budgets to handle a reduced tuition payment. There may be times when this is impossible, but for most families these times will have a clear beginning and a clear end. Restrict any exceptions to the 50% policy to this time frame if you can.
We have found that when tuition exceeds 7-10% of a family's net income it becomes difficult to pay. If your tuition is average for the US, about $4,000, then it is out of reach for nearly half of your community's families.
If you give a family a 50% scholarship, this reduces their tuition to about $2,000 per year for one child. This brings your tuition within reach of about 80% of your community's families. You could reach even more with creative ways to provide even more subsidy for families making under $50,000, such as part-time employment.
With regards to employees - unless your salaries are so low that you have to subsidize salaries with free tuition for your employees we would suggest that the maximum you give to employees is also 50%. Some schools will only provide tuition breaks to employees with a demonstrated financial need.
What about exceptions?
There will always be exceptions. We recommend that exceptions to this rule be made only in response to a written request presented to the committee by the family. The committee can make a decision based on the facts they have gathered, but that exceptions should be limited to one year, or one semester, at a time. The committee's decision should be documented and placed in the family file.
Do not give over 50% to anyone, including employees.
Why not give more?
If the services you provide have value, which they do, then they should be paid for. We have found that most families applying for tuition aid can adjust even meager budgets to handle a reduced tuition payment. There may be times when this is impossible, but for most families these times will have a clear beginning and a clear end. Restrict any exceptions to the 50% policy to this time frame if you can.
We have found that when tuition exceeds 7-10% of a family's net income it becomes difficult to pay. If your tuition is average for the US, about $4,000, then it is out of reach for nearly half of your community's families.
If you give a family a 50% scholarship, this reduces their tuition to about $2,000 per year for one child. This brings your tuition within reach of about 80% of your community's families. You could reach even more with creative ways to provide even more subsidy for families making under $50,000, such as part-time employment.
With regards to employees - unless your salaries are so low that you have to subsidize salaries with free tuition for your employees we would suggest that the maximum you give to employees is also 50%. Some schools will only provide tuition breaks to employees with a demonstrated financial need.
What about exceptions?
There will always be exceptions. We recommend that exceptions to this rule be made only in response to a written request presented to the committee by the family. The committee can make a decision based on the facts they have gathered, but that exceptions should be limited to one year, or one semester, at a time. The committee's decision should be documented and placed in the family file.
posted by John | 9:17 AM
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