Financial Assistance Guidelines

While we seek families who make education a priority in budgeting their financial resources, we recognize that different circumstances create different financial needs. Therefore there is no single factor, such as family income, which determines who should apply for financial assistance or who is eligible for assistance.

The following general guidelines are provided to help you understand some of the factors considered in the application:

• There is no set income or asset level that determines whether an applicant qualifies for assistance. We offer awards from a few thousand dollars up to 98% of tuition and fees depending on the level of need.  

• We consider all available monies: parents‘ income, child‘s income, family partnerships, gifts, and any other beneficial interests from which income or principal is derived. 

• We expect that if a family is applying for assistance at Oakwood and they have children in other tuition-charging schools and/or colleges, they will also apply for assistance from those schools. 

• In cases of separated or divorced parents, we need 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.

• Most of our financial assistance recipients are granted partial awards; the school expects that families will fulfill their remaining financial obligation in accordance with our regular payment schedules.