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Private & Independent Schools
Reply to "How is financial aid funded?"
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[quote=Anonymous]It must be the way FA is distributed that causes all this misunderstanding about where it comes from. FA is quite simply a tuition Discount of a certain percentage. Take this hypothetical example of a school with a list price of $50,000 and an incoming class of 100 students. What the school needs to have is enough tuition revenue to operate when combined with other revenue sources like gifts, facilities rental, some interest from the endowment, etc. 70 freshman at $50,000 = $3.5 m. 10 freshman at $37,500 (25% FA) = $.375 m. 10 freshman at $25,000 (50% FA) = $.250m 10 freshman at $12,500 (75% FA) = $.125m Total Tuition Rev. $4,250,000 FA budget $750,000 Number of students getting FA is 30 (30%) Average FA amount is $25,000 or 50% of tuition. Schools are just like airlines. They want the plane to be filled even if they have to offer some people discounted fares.[/quote]
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