Leverage Financial Aid to Advance Your Independent School’s Mission
EAB resources help optimize independent school use of aid to shape each class
In 2020 many independent schools are reexamining their approach to financial aid, largely driven by both the COVID-19 pandemic and the nation’s reckoning with racial justice.
In shaping their classes, independent schools are experiencing increased interest from public school families that are considering independent schools for the first time. Furthermore, independent schools are looking to enroll a more diverse student body that accurately reflects the broader community they serve and aligns with the school’s mission and stated values. Financial aid is central to this process: in addition to putting tuition within reach of families, it is a tool that affords flexibility to institutions to enroll a broader swathe of students across all socio-economic backgrounds in filling their classes and shaping their institutions.
EAB’s Independent School Executive Forum has identified two approaches to financial aid for independent schools to implement as a strategy to realize their enrollment goals and achieve their school mission.
Option 1: Utilize financial aid data to strategically shape a diverse class
Optimize Financial Aid to Shape Your Independent School’s Student Body
Financial Aid Optimization Tool
After reviewing the resource above, use EAB’s Financial Aid Optimization tool to look at annual financial aid data segmented by: 1) yield per income band, 2) grade level, 3) race, and 4) gender. Challenge or confirm your assumptions about how your aid is working to help your institution meet its enrollment goals.
Option 2: Lead with affordability to attract a broader array of families
How to Implement Indexed Tuition at Your Independent School
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Learn how you can get access to this resource as well as hands-on support from our experts through Independent School Executive Forum.
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