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Admission Financial Aid
Financial Aid Information
We subscribe to the National Association of Independent
Schools' (NAIS) guiding principle that the responsibility of
financing a private education rests primarily with the
student's family. However, we also recognize that the
cost of private education is daunting for most families.
Northfield Mount Hermon is committed to assisting
families who demonstrate a measurable level of financial
need, but who are also willing to assume as much
responsibility for tuition as they are able.
Currently, over 40 percent of students at NMH receive more
than $5.2 million in grants and $200,000 in long-term,
low-interest loans.
DEADLINES:
New Student Applicants - February 1, 2008
Returning Students - February 1, 2008
You may scroll down to see questions and answers
regarding financial
aid issues.
Also see:
- How and when do I apply?
In order to be considered for financial aid,
while there is still aid available, it is critical to meet the February 1
application deadline for both admission and financial aid.
To start your application for financial aid, send us the
enclosed Preliminary Application for Financial Aid
(PAFA) with the Application for Admission, Form A.
We will then send you a Parents’ Financial Statement
(PFS) to fill out and send to School and Student Service
for Financial Aid (SSS) in Princeton, NJ.
Send NMH a copy of your 2006 IRS federal income tax
return, including all schedules, and your 2006 and 2007
W-2 forms, by February 1. Your application will not be
complete without the schedules and W-2 forms.
Other financial information may be requested by the financial
aid committee depending on your family’s individual
situation (e.g., income statements for a business or farm,
trust agreements, explanation of unusual circumstances).
Submit a signed final copy of your 2007 IRS federal
income tax return (including all schedules) with the award
acceptance form by the deadline given in the offer of financial
aid.
- What is your policy regarding parents who live in separate
households?
We expect both parents to finance their child’s education to the
extent they are able. Therefore, we require a completed PFS
and tax return to be submitted from each household. We will
mail application forms, which we hold in the strictest confidence,
directly to each parent. If either parent has remarried, we
will also take into consideration the spouse’s contributions to
the household along with any obligations to his or her own
children. A financial aid award cannot be made without information
from or about all parents.
- How is our family’s contribution calculated?
SSS, a third-party, financial aid service, provides an Estimated
Family Contribution (EFC) report based on factors such as
household income and expenses, number of children in tuitioncharging
schools and colleges, and assets and debts. The financial
aid committee makes adjustments to this report given
case-by-case family information and NMH-specific policies. It
is not unusual for a family to expect more aid than the calculation
suggests, requiring it to use more of its resources than
anticipated. Understanding this, we are always willing to
answer your questions about the calculations.
- How is a financial aid package determined?
The cost of tuition, room, and board, minus the family’s calculated
contribution, represents the amount of financial aid a family
is eligible to receive. Once this amount is determined, the
financial aid committee reviews information gathered during
the admission process to make awarding decisions that promote
a talented and diverse student body. Our resources are finite
and NMH is fortunate to have many outstanding applicants. As
a result, some students who are admitted to NMH may not
receive financial aid.
For those students who will receive financial aid awards,
NMH attempts to meet as much of a family’s need as possible
through a combination of need-based grants and low-interest
loans.
- Do we have to pay back our financial aid?
Grants, which compose the major portion of a financial aid
award, are funds awarded by the school from a fixed budget
provided by investments and annual contributions from NMH
alumni, parents, and friends. Grants need not be repaid;
however, in the spirit of our founding, there is a general expectation
that alumni who received financial aid as students will
eventually contribute to the school to allow future generations
to experience the same opportunities.
Northfield Mount Hermon loans, which may be awarded
in addition to a grant, are also need-based. Interest ranges from
a minimum of five percent to a maximum of one-half of the
prime rate. Repayment of these loans does not begin until after
your child graduates from the school or leaves for any other reason.
For the first four years after your child leaves NMH, you
will pay interest only. During the four years after that time, you
will make monthly payments of both interest and principal to
repay the loan. There is no penalty for the prepayment of an
NMH loan.
- What is the average financial aid award?
The average grant for the 2007–08 school year was approximately
$26,100 for boarding students and $16,100 for day students.
There are fewer awards available for international students and
new students enrolling in the upper grades (11 and PG).
Because funding is limited and the applicant pool for
financial assistance quite large, Northfield Mount Hermon may
meet less than 100 percent of your family’s demonstrated need,
or family contribution, as reported by SSS. We encourage you
to call the financial aid office to discuss your individual
circumstances.
- Is aid available for international students?
Financial aid for international students is very limited. Should a
family qualify for and receive need-based aid, typically no more
than 50 percent of tuition may be awarded. If a family does not
file a tax return in the United States, the application requirements
are different. Please refer to the checklist at the back of this
brochure for further instructions.
- Do you offer talent-based or merit-based scholarships?
We offer financial aid based on demonstrated need. However,
because the number of applicants exceeds the number of awards
we can offer, a student’s talents or achievements may determine
which applicants will receive an offer of financial aid.
- When will we be notified of our aid award?
Admission applications must be completed before the financial
aid committee will review a financial aid application. When a
student receives an offer of admission, the financial aid committee
will include a letter to the parents notifying them of the aid
decision.
- Do we have to apply every year?
Yes. In order to keep your award, you must submit a new PFS and
tax return every year. You can expect that your financial aid will
be renewed at the original level of funding, provided that you
demonstrate continued need. If you experience any significant
changes in your financial situation, it is important to discuss
this with the director of financial aid, as our budget is set the fall
before the application process begins.
- If my child enrolls without receiving financial aid, can we apply for
aid in future years?
While the financial aid committee will review any application submitted,
there is little to no room for adding further students to the
aid budget. Our budget will have been set upon a fixed number
of students receiving aid they received in the previous year.
Therefore, you should not enroll your child this year without
receiving financial aid if you plan to apply for aid in the
future. We recommend that you apply for admission and aid
together in the following year.
Although we cannot accommodate those who knowingly
enroll with financial needs pending, we will try to help families who
experience unforeseen financial hardships after they have enrolled.
If there are extenuating circumstances to consider, please discuss
these with the director of financial aid before proceeding.
- What is your Contact Information
Should you have questions about financial aid, please contact the financial
aid office. We look forward to working with you!
Lea A. Emery ‘84
Director of Financial Aid
Joanne Kelly
Financial Aid Assistant
The Financial Aid Office is located in the Admission Office. (click here for directions)
Mail only:
Admission Office
Northfield Mount Hermon School
One Lamplighter Way
Mount Hermon, MA 01354
Phone: 413-498-3227
E-mail: finaid@nmhschool.org
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