Tuition & Financial Aid

Financial Aid FAQs

• What is included in tuition at Poly Prep?

  Tuition payments at Poly Prep include the following: lunch, books, all technology devices in Lower and Middle School, all after-school clubs, activities and athletics on the Dyker Heights campus, bus service to and from both campuses, daily snack in Nursery, PreK and K, all athletic uniforms, and all grade-wide field trips.

• What is included in a financial aid award?

  In addition to tuition support, we help with: after-school programs in the Lower School, international and domestic travel, music lessons, one-on-one SAT prep and tutoring, college visits, summer math courses, graphing calculators, and all technology devices.

• Should I apply for financial aid?

  If you would not be able to enroll at Poly Prep without financial assistance, we encourage you to complete the financial aid application. Financial aid is available in Kindergarten to Grade 12.

• When will I be notified regarding financial aid and what is included in my financial aid award?

  Families who have applied for financial aid will be notified in February along with their admissions notification.

• Will my family qualify for financial aid?

  Until the application for financial aid is submitted we are not able to take a guess at the level of financial aid that a family will qualify to receive. Currently, 88% of families who receive financial aid have a combined household income between $0 and $250,000. Income is just one out of many considered factors. TADS will gather income, asset, and liability data to determine your family’s need.

• How does Poly Prep make financial aid decisions?

  Poly’s Financial Aid Committee reviews all financial aid applications in January and makes financial award decisions annually. The TADS application generates a reccomended amount of need, and Poly Prep is dedicated to meeting 100% of TADs calculated need. The Financial Aid Committee reviews the files of those students who have been deemed admissible, and whose families show demonstrated need for assistance, and selects the most qualified students to receive financial aid packages. Parents should not be discouraged from applying to Poly for their children because of cost, but the school strongly recommends parents consider a range of educational opportunities to avoid possible disappointment due to limited resources.

• How do I apply for financial aid at Poly Prep?

  Poly Prep requires the Tuition Aid Data Service (TADS) (www.tads.com) application for financial aid for all families requesting consideration for need-based financial assistance. The deadline for submission of the financial aid application is December 15, 2020. Poly Prep only accepts online financial aid applications, and applicants must mail all supporting documents directly to TADS. For more information about TADS, please visit www.tads.com.

• Is there a fee for TADS?

  The TADS application fee is $34 payable directly to TADS.

• How does divorce or separation affect the financial aid process?

  Poly Prep requires that both parents contribute to the cost of education and that both parents complete TADS financial aid applications, unless otherwise determined by an attorney or by additional extenuating circumstances.

• If I receive an award for my child for the coming year, can I expect to receive it every year?

  Families receiving aid must reapply annually. Once assistance has been awarded, families expect that it will be renewed, provided the family’s financial situation has not changed substantially, and the student has remained in good academic and behavioral standing.

• What are Poly Prep’s financial aid application deadlines and award notification dates?

  Meeting our December 15 deadline is crucial in the financial aid process. Incomplete applications cannot be considered for aid. There is a limited budget for aid and, after funds have been allocated, there is no flexibility for Poly to award additional grants. New students receive financial aid awards along with their acceptance letters. We ask that parents explain to their children that a lack of financial assistance may impact the admissions process.

• How else can a parent finance a Poly education?

  We believe that the benefits of a Poly education—including an outstanding faculty; a diverse learning community; a beautiful, landmarked and LEED-certified Lower School and a 25-acre college-like campus for our Middle School & Upper School; a global curriculum; myriad opportunities for individual enrichment and advanced study; and an emphasis on character education and leadership—offer students a unique, and uniquely valuable, experience. However, financing the cost of a Poly education does require substantial family commitment, and many parents are understandably concerned about their ability to afford an independent school. Poly realizes this and thus provides various options to finance the cost of a Poly Prep education beyond our financial aid program. 1. Semi-Annual Tuition Payments Some families find it convenient to be billed for tuition in two separate installments. After the reservation deposit is collected in the spring, 50% of the remaining tuition is billed in June, and 50% in December. Click here for more information about Poly Prep's semi-annual tuition payment option. 2. Monthly Payment Plan SMART Tuition works together with Poly Prep to offer a no-interest, no-borrowing monthly installment plan. Parents use the plan to pay all or part of their educational expenses at the school. SMART Tuition also offers reduced interest loan programs that may be set up through SMART Tuition. Click here for more information about Poly Prep's monthly payment plan option. 3. IRS-Defined Coverdell Education Savings Account Enshrined in the American Taxpayer Relief Act of 2012, the little-known IRS-defined Coverdell Education Savings Account may help parents finance Poly tuition and other related education expenses, such as computers and Internet connectivity, through favorable tax treatment. Interested parents should consult their tax advisors about this option.