In its latest reporting on average annual tuition among America’s 22,440 private K-12 schools, EducationData.org – https://educationdata.org/average-cost-of-private-school , cited $12,350 yearly as of August 2021. The data also revealed average tuition at private high schools is $16,040 and among the nation’s 5,158 Catholic elementary schools, the average tuition is $4,840. At TADS, we recommend that parents apply for financial aid, even if they are unsure if they need it or not.
Our commitment continues in helping schools streamline the processing of financial aid thereby ensuring quicker financial aid award decisions. Along this streamlined process, families’ financial data and financial paperwork is secured and private.
We also know that your commitment to schools is to build trust with families regarding awarding financial aid fairly, transparently, and expediently. Parents want a school community built on trust, privacy and pro-active accountability structures.
When it comes to processing financial aid awards, one of the key things we know is important to schools and families is privacy in processing. Families are anxious about the determination of awards and school staff are focused on providing award information to them as soon as possible. A strong benefit to using an outside third-party processing solution is that all students and families are served in a timely, fair, equitable, unbiased, and respectful manner.
In some cases, providing those awards more quickly can also help ensure your school stays ahead of the competition from other schools in your community. Using a financial aid processing solution that provides automated document verification and self-serve functionality expedites the secure management of financial data and the application process itself.
When using a third-party financial processing software, schools can ensure parents an objective analysis of financial aid data submitted. There is also a benefit in using a third-party processor for the financial information because parents can depend on privacy and security with reduced paper processing.
Using TADS enables schools to take the calculations, reduce any perception of bias by helping schools equitably, and transparently assign/and award financial aid. This simplifies the financial aid application process for families and improves the overall school and family experience.
Every family can access the Parents’ Financial Statement (PFS) which provides parents with ample opportunities to add comments with their responses and a final section to type any additional information they want schools to know. Schools benefit from being able to then base determination of the available funds, a family’s need, and the school’s own philosophy with financial aid awards.