Tuition and Financial Assistance FAQs
► What is the range of assistance that is given?
► Are there any merit awards available at Nobles?
► If our family does not qualify for financial assistance, but feels that some form of aid is necessary for our child to attend Nobles, what options are available to us?
► Do I have to reapply for assistance each year?
► Are students ever asked to take jobs at Nobles to help pay for their education?
► If I make a financial sacrifice in order to pay tuition at Nobles, I’m utilizing resources that need to be set aside for college. How can I justify such sacrifices for high school?
► If we do not apply for, or are not awarded Financial Assistance for the first year of enrollment, will we be able to get assistance in future years?
► How do we know if we will qualify for assistance?
What is the range of assistance that is given?
Financial assistance awards or packages range from $2,600 to awards that cover the entire tuition and additional expenses. The average direct grant is approximately $29,175.
Are there any merit awards available at Nobles?
No, all awards at Nobles are based on a financial need assessment.
A variety of programs are available. Spreading out the payments over 10 months using Tuition Management Systems is a great option. For families who have access to home equity, that is very often an efficient source of borrowed funds. The Your Tuition Solution Program is an excellent source as is the prepGate Loan Program.
Do I have to reapply for assistance each year?
Yes, each student's need is recalculated annually. Therefore, parents are required to submit a Parent's Financial Statement and current tax information each year.
Are students ever asked to take jobs at Nobles to help pay for their education?
No. However, students in the Upper School receiving financial assistance are expected to contribute to their educational expenses from summer earnings. First Class students (12th grade) are asked to contribute $600, Second Class (11th grade) $500, Third Class (10th grade) $400, and Fourth Class (9th grade) $300.
If I make a financial sacrifice in order to pay tuition at Nobles, I’m utilizing resources that need to be set aside for college. How can I justify such sacrifices for high school?
Many educators feel the impact and value of a secondary education on not only the intellect but the character of a young person exceed that of a college education and is more enduring. Our hope is that students will emerge from Nobles with greater college choices as well as maturity and motivation to take full advantage of what college has to offer. Colleges attended by Nobles graduates typically have extraordinarily strong financial aid programs to assist families in financing their child's education.
If we do not apply for, or are not awarded Financial Assistance for the first year of enrollment, will we be able to get assistance in future years?
Students who enter Nobles without receiving financial assistance should not expect to receive financial assistance in future years unless there is a significant change in the family's financial status.
How do we know if we will qualify for assistance?
The following Case Studies and table are two different methods for families to measure their own circumstances as they relate to affording a Nobles education. The three case studies are fictional but provide scenarios that may be helpful. Because each family's financial circumstances are different, the calculation of need will be done based on those circumstances. These case studies and the table following should be used as guidelines for determining the advisability of applying for financial assistance. We encourage families to apply for assistance so that we can help them in determining if they do, in fact, qualify.
CASE STUDY #1: This family has two children and has a family income of $55,000. One child will attend Nobles in the ninth grade, as a day student and the other child will attend a public school. The family does not own a home, pays monthly rent and has $5,000 in savings. For the 2011-'12 school year, this family will receive a financial aid grant for tuition of $36,700 and $1,000 expenses grant to help defray the costs of books and other fees associated with attending Nobles. The total family contibution will be $600 ($300 from the parents and $300 from the student).
CASE STUDY #2: This family has two children. One will be a Sophomore at Nobles and the other will be a Freshman in college. The educational expenses for both children total $80,000. Both parents are employed with a combined income of $125,000. The older parent is 50 years old. They have $30,000 in home equity. In 2011-'12 they will receive a financial aid grant for tuition of $34,400 and a $1,000 expenses grant to help defray the cost of books and other fees associated with attending Nobles. The total family contribution will be $2,900 ($2,500 from the parents and $400 from the student).
CASE STUDY #3: This family has three children and the oldest child attends a private college. One child will be a Junior at Nobles and the other attends a different private school. The total family income is $176,00 and the older of the two parents is 45. They have $50,000 in home equity left after taking out a second mortgage two years ago and have other investments totaling $175,000. In 2011-'12, the family will receive a financial aid grant for tuition of $15,800 and a $1,000 expenses grant to help defray the cost of books and other fees associated with attending Nobles. The total family contribution will be $21,500 ($21,000 from the parents and $500 from the student).
