How are financial awards determined?
Our Financial Aid Committee uses a standardized formula developed by School & Student Services (SSS) of the National Association of Independent Schools (NAIS). We consider gross taxable and non-taxable income, as well as assets, liabilities, family size, cost of living, and number of children in tuition-charging schools. Additionally, we calculate an allowance for necessities, to determine the remaining funds available for education.
Does my family earn too much to qualify?
There are no specific income levels that determine aid eligibility. We look at both income and family circumstances when determining financial need. For example, some families that earn as much as $275,000 annually currently receive financial aid.
Do you provide performance-based aid?
Deerfield provides grants based on financial need only. We do not offer financial aid on the basis of athletic or academic performance, or any other merits.
What if my family’s financial situation changes?
Financial Aid grants are reviewed annually. Once admitted, we strive to assist a family at a consistent level throughout their time at the Academy. If things change and a family has an unexpected circumstance (job loss, divorce, death in family, etc.) we review each case on an individual basis and, budget permitting, adjust accordingly. Likewise, we will decrease grants when families have a change in circumstance that allows for an increase in disposable income.
Is the application confidential?
All applications for financial aid are held in the strictest confidence. Only the Dean of Admission, the Director of Financial Aid, members of the Financial Aid Committee, and the Head of School have access to the records.
Will applying for financial aid effect my admission to Deerfield?
Possibly. Deerfield has a generous financial aid budget. However, it is limited and, therefore, we cannot accept all admissible financial aid applicants.
Will Deerfield require a family to take out loans?
No. Deerfield grants are outright awards based on financial need. There is no repayment required.