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FINANCIAL AID Hanahau`oli School is committed to having a diverse student body reflecting a broad economic mix. While financial aid resources are limited, every effort is made to make a Hanahau‘oli education affordable for all who wish to enroll. As an independent school, Hanahau`oli School does not receive funding from the state or federal government. To offset educational expenses, we charge tuition for each student. Tuition alone, however, does not cover the cost of educating each child. The School's endowment and gifts from alumni, parents and friends help close the gap. Because some families are unable to afford the full tuition fee at Hanahau`oli, we offer financial aid on the basis of demonstrated need for those who qualify. What is financial aid? At Hanahau`oli School, financial aid consists of tuition grants, which do not need to be repaid. What is Hanahau`oli's financial aid philosophy? The purpose of the financial aid program is to provide access to our school and to promote socio-economic diversity in our student body. Affording a quality education does take some planning, and most families employ several strategies to keep the costs within reach. In this planning, it is important to realize that the family bears the primary responsibility for financing a child's education to the extent that it is able. The basic criterion for a financial aid award is demonstrated need. What is "demonstrated need"; and how is it determined? "Demonstrated need" is defined as the difference between the amount a family can be expected to contribute to the cost of the student's education and the amount of annual tuition at Hanahau`oli. To consider individual students for financial aid fairly, the School assesses each family's financial situation with the help of the School and Student Service for Financial Aid (SSS), an outside agency used by independent schools nationwide. Every family applying for aid completes a Parents' Financial Statement (PFS) and sends it to SSS for processing. A calculation of financial need is then sent to Hanahau`oli. How many students receive financial aid? Approximately 19% of all our students (grades JK - 6) receive financial aid. Would my salary qualify us for aid? A number of factors are used to determine financial need, so it is impossible to specify income levels or other criteria that would guarantee a student receive financial aid. Income, assets, taxes, family size, unusual expenses, parents' ages and number of family members in tuition-paying schools are just some of the factors used in the equation to determine financial need. What does financial aid cover? Financial aid covers a portion of the tuition. After school care fees, after school enrichment course fees, catered school lunch, and other incidental expenses are excluded from aid. What does it cost to apply for financial aid? SSS charges a fee of $24 for processing the PFS. You may request that a copy of the report sent to you for an additional fee. When will we learn if we will receive financial aid? Financial aid awards are usually mailed within two weeks after a student is offered admission. The process may take longer if there are complicated or extenuating circumstances in the family situation. We would not expect a student who has been offered admission and applied for financial aid to make a decision about enrolling until the student's financial aid offer is known. Will we receive aid every year? Family financial circumstances can change. Therefore, we require families to re-apply for financial aid each year. How does this process work for divorced or separated parents? We believe that divorced or separated parents hold an ethical obligation to contribute to their children's educational expenses, whether or not they have a legal obligation to do so. We must consider the assets and earnings potential of both natural parents, if living, before making any financial aid award. If either parent has remarried, the needs analysis considers the assets and earnings potential of the stepparent as well, keeping in mind the stepparent's responsibility to his or her own children. As a result, PFS forms are required from both parents every year. Who makes financial aid decisions? Financial aid applications are reviewed by the Financial Aid Committee and are processed by the Business Office. All information required for the application process is kept in strictest confidence. return to top |
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