Financial aid packets are sent to families who have sent an Application for Admission and who have indicated on the Application that they want to apply for need-based financial aid.
Malvern is proud of its financial aid program and its diverse student body. Most of the need-based aid is targeted to the 9th grade although some funds are allocated to middle school applicants. An applicant’s file has to be complete before it is reviewed by the Admissions Committee and/or Financial Aid Committee. The family’s need is then reviewed by the Financial Aid Committee. “Need” is defined as the difference between the family’s expected contribution and the child’s tuition expense. The School is unable to meet the needs of all the qualified applicants. Consequently, at times, the Admissions Committee must utilize a “needs aware” process when offering seats.
Before a student can be considered for admission or financial aid, all application forms and financial aid forms must have been received and approved by the Admissions Committee. Those qualified students who score above average and in the top 25% of our Entrance Exam and who have outstanding teacher recommendations and excellent school grades will be considered for financial aid by the Financial Aid Committee on a first come, first served basis. Candidates should also excel in one or more extracurricular activities or sports.
Carefully read the packet of financial aid information. This information is automatically sent to you in October if you check on the Admissions Application that you are applying for financial aid. If you checked “yes” on the application, you must submit all forms, including all financial aid forms, in order to be considered for admission. If, after further consideration, you feel you do not qualify for financial aid, you must formally write or e-mail the Admissions Office to change your status before your son will be considered for admission.
For more reading on the Financial Aid Program, please view our pamphlet, "Everything you need to know about Financial Aid at Malvern Prep, but were afraid to ask."
Malvern belongs to the School Scholarship Service (www.nais.org
or 800-344-8328). Parents are asked to complete a confidential form. It is best to file the Parents Financial Statement form on-line and complete all aid requirements by December 15. Parents must also send complete copies of their most recent tax return and W2s in order to be considered for financial aid. Once all financial aid forms are received by the Admissions Office, the best candidates are reviewed. Financial aid is awarded by the Financial Aid Committee and awards are made to the extent that funds are available. No student will be considered for admission and financial aid until Malvern receives the report of Family Contribution Report from SSS.
Approximately 25% of the families who request aid and demonstrate a need receive grants. The average grant last year was $10,100. Malvern awarded about $1.6 million to 27% of its students in 2010. Malvern Prep seeks social, economic, cultural and ethic diversity in its student body. Excellent students who have a demonstrated need with various talents are considered for grants to enable them to attend Malvern. The repayment of grants is not required. The student must maintain an outstanding discipline record, have an excellent academic record, participate in school activities and sports and have the recommendations of his teachers to maintain the grant.
The Admissions Office staff members are ready to assist you in whatever way we can. Please do not hesitate to contact the Dean of Admissions if you have any questions about financial aid.