Financing a Hillside Education: Investing in your Child’s Future
More and more families are looking for better options to finance their children’s education. Some families reallocate money from their long-term education savings to apply to these critical elementary years. While the responsibility of financing your child’s education lies with the family, we are committed to maximizing the potential of learning disabled children through excellence in education regardless of family income. The Hillside School suggests some options to help families in planning and making choices to afford tuition. Options include annual tuition payment plans, long-term educational loans offered by third-party lenders, and financial aid awards for families demonstrating financial need.
Tuition Payment Plans
- Single Payment Plan: Payment of tuition in full due before August 10th.
Parents who pay the tuition in full receive a $300 deduction.
- Semi-Annual Payment Plan: Parents will be billed two times a year - August and January.
- Quarterly Payment Plan: Parents will be billed four times a year - August, October, January and March.
- The Monthly Payment Option is offered by TUITION MANAGEMENT SYSTEMS at www.afford.com or 1-888-572-8985. With a $55 enrollment fee, the monthly payment option allows parents to spread expenses over ten, nine or eight monthly payments.
If a student withdraws or is requested to withdraw during a school term, the parent/guardian is responsible for the tuition payment for the entire year. Tuition insurance is not available with the small number of children enrolled at The Hillside School.
Medical Deduction/Flexible Spending Accounts
- The Hillside School is considered a therapeutic program for children with learning disabilities. Consult with your tax advisor to consider claiming an IRS medical deduction for tuition fees paid to the School for a child with learning disabilities.
- If a parent’s employer offers a Flexible Spending Account, tuition reimbursement coverage may be included in the Medical Reimbursement account. Consult with your plan administrator.
Educational Loans
Loan programs through third-party lenders can help families manage tuition by spreading payments over as much as ten years. Home Equity loans are often the best deal. Lender brochures are available at many banks and from the following sources:
Grants (direct application by family)
- CEO America, www.ceoamerica.net (Students from a Lehigh Valley family, annual salary under 50,000; application deadline May 30th)
- Berks County Community Foundation, www.bccf.org (610) 685-2223 (Students from Berks County)
- Check with employer for financial aid
Other Resources for information about individual grants: The Children’s Scholarship Fund Program (212) 515-7100 and www.schwablearning.org Financial Aid
The number of families demonstrating need exceeds our ability to provide aid to all families who apply, yet The Hillside School awards scholarships to approximately 43% of our students each year. Any family may apply for a financial aid grant. Applying for aid has no impact on a child’s application for admission. Parents should not automatically assume that because of their high income, they would not qualify for a need-based grant. Parents are encouraged to complete a Parents Financial Statement (PFS) that can be picked up in the school office once your child has been admitted to Hillside. This form should be completed and returned to School and Student Service for Financial Aid (SSS) in Pittsburgh, PA. PLEASE MAIL THE PFS FORMS AS EARLY IN THE YEAR AS POSSIBLE FOR CONSIDERATION WHEN THERE ARE FUNDS AVAILABLE.
Information on the newly designed PFS can be accessed on the web at www.nais.org/financialaid/sss/.
Many factors affect a financial aid award. The most significant factor is family income, but other factors include:
- Family assets- savings accounts, stocks, home equity, investment properties
- Indebtedness (not credit cards)
- Family size
- Age of parents
- Number of children in tuition-charging institutions
- The amount of scholarship money available for the school year.
Need is the difference between what the family can contribute and tuition based on analysis of the financial circumstances by the School and Student Service for Financial Aid (SSS) in Pittsburgh, PA.
Steps to Applying for Financial Aid:
Step 1 - Pick up Parents’ Financial Statement (PFS) in the school office after your child is admitted to The Hillside School
Step 2 - Jan-March 31. Mail completed Parents’ Financial Statement (PFS) directly to School and Student Service (SSS) in Pittsburgh, PA.
Step 3 - Send completed copies of the PFS form with current Federal Income Tax Forms (Form 1040, including all schedules, W-2s, and 1099s) to the Office at Hillside School.
Step 4 - Families are notified of their financial aid after Hillside receives the form from SSS.