8 Facts About Tuition, Scholarships & Financial Aid
At Aspen Academy, in addition to our commitments to next-generation education, leadership and entrepreneurial development, and community strength and service, we are committed to creating a community we love being around. Our families come from over 40 zip codes around the Denver-area, and represent different needs. For some families, we’re pleased to offer financial aid in support of their being at Aspen Academy. Here are eight insights about our financial aid program:
- At Aspen Academy, we have also maintained the lowest tuition possible. On average, our tuition is 49% lower than the average of the independent schools in the Denver Market area. As a result, Aspen Academy typically has a more economically diverse community than most private schools.
- Do we offer scholarships? In general, scholarships and financial aid at independent schools are often funded from endowments that the school has created from private donations, grants, scholarship funds, and other funding sources. Aspen Academy does not currently have an endowment, so we do not offer merit scholarships, but we do offer need-based financial aid.
- How do we decide how much is awarded? Because our tuition is significantly lower than other independent schools, we limit our Financial Aid to a maximum of 50%. We use an outside company (FAST) to gather the data, complete the analysis, and make an award recommendation. They use cost of living indices for the Denver Market, and pre-set threshold for expenses that are allowable. We always recommend that a family include a letter explaining their circumstances because sometimes the numbers do not give a true picture of the need. (e.g. a family still recovering from a recent job loss; unexpected medical expenses, etc.)
- We don’t offer financial aid for Pre-Kindergarten students because a portion of Pre-Kindergarten tuition is tax deductible.
- At Aspen Academy, financial aid is awarded to current and newly admitted students on the basis of demonstrated need, as determined by factors such as income, family size, assets, and liabilities. For reference, the majority of families receiving flexible tuition have a total family income of less than $200,000/year.
- The intent of financial aid is not to subsidize lifestyle choices that families make, but rather to make an Aspen Academy education more attainable for modest families who prioritize education.
- Because financial aid is treated as a gift from the school, there are no repayment requirements. However, because family circumstances and tuition change each school year, families are required to complete the flexible tuition application process on a yearly basis.
- For families interested in scholarships and financial aid, we suggest a call with admissions before applying. Often they can share more information that will support you throughout the application process.
For more information on the application process, click here.