Financial Assistance FAQs
Does Oakwood School offer scholarships?
Oakwood offers financial assistance to families and does not offer “scholarships.” If your family qualifies for and is awarded financial assistance, you will receive a grant to reduce your tuition. There is no obligation to re-pay this grant at a later time.
Can I pay for the first year and then apply for assistance the following year?
No. Absent extraordinary and unforeseeable circumstances, financial assistance will not be available in later years for students who come to the school as full pay at the time of admission. If a family enrolls their child without financial assistance, that child is counted as a “full-pay” student. With limited financial assistance funds, we plan carefully to meet the present needs and protect the future funding for the families that we have committed to assisting. We encourage new families applying to Oakwood to give careful consideration to the full cost of independent school education. If you will be relying on assistance from relatives, you should be certain of their commitment to providing this assistance for the duration of your child’s time at Oakwood.
How is a family's need determined?
Oakwood’s financial assistance process is comprehensive. In determining need, we consider information obtained from the FAST application, federal and state income tax returns, and any additional information that the committee feels is necessary for a fair and accurate assessment of the family’s financial standing. While Oakwood requires the same documentation and uses the same methodology to assess each family's ability to pay, every request is evaluated individually.
What educational expenses are considered in awarding assistance grants?
Oakwood’s Financial Assistance Committee makes a single comprehensive grant based on its review of demonstrated financial need and takes into account the full cost of attendance including tuition, fees, books, class trips and other incidental educational expenses in establishing the amount of an award. For those who qualify, assistance is also available for non-tuition expenses such as bus transportation, lunch, laptop, books, and other qualifying items.
Is financial assistance automatically renewed each year?
Families receiving financial assistance must reapply each year. If a family's level of need changes, assistance may be raised or lowered accordingly.
Are educational expenses likely to change year to year?
Yes. Annual tuition and fees are set by the Board of Trustees in January for the following year. The Board is committed to keeping tuition increases as low as possible and to ensuring that the high quality of our educational program is maintained.
What about separated or divorced parents?
In cases of separated or divorced parents, we require the same documentation from both parents, regardless of court ordered custody or support. Oakwood cannot be bound by the assertion that one parent has disclaimed responsibility for educational expenses. If either parent has remarried, the Financial Assistance Committee will consider the income and assets of the stepparent, however, the Committee will also bear in mind the stepparent’s obligations to his or her other children. In addition, Oakwood cannot be bound by the assertion that each household is responsible for half the cost of education and therefore, one household should be considered for financial assistance. Both households are required to submit the financial assistance application, and the Committee will determine financial need based on both household’s financial circumstances.
Does applying for financial assistance influence the admission decision?
Oakwood’s Admission Committee conducts a review of candidates without knowing whether or not they are applying for financial assistance. After accepting the most compelling students, those who applied for financial assistance are referred to the Financial Assistance Committee to determine financial need. As awards are granted and funding becomes limited, some compelling candidates may be offered a place on the waiting list with the hope that a space and funding may become available after the first round of decisions.
Whom do I contact with questions?
For Elementary (Grades K-6), please email Marlene Huitink.
For Secondary (Grades 7-12), contact email Pam Tiangco or dial 818-732-3060.