Affording a Parker Education

We recognize that while a Parker education is an opportunity of a lifetime for students, it is a significant financial investment for families and may feel out of reach for some. Parker is dedicated to providing access and affordability to a Parker education for a wide range of students from diverse backgrounds and socio-economic means.

Parker is committed to removing obstacles for students and ensuring that all students can fully partake in the life of the school on equal terms. Parker’s Financial Assistance program has been in existence since 1901 when the school was founded and is an inherent part of the school’s philosophy and community life. This year we provided $4.3 million dollars in Financial Assistance to over 24% of our students demonstrating financial need, with an average award of $26,000.

At Parker, financial empowerment through this program offers more than just tuition assistance. Our commitment is to provide benefits to qualifying students and families that may include funds for after school classes; extended day care; cafeteria accounts; athletic equpiment; private music classes; community events; college preparation, search and application costs; laptops; field trips, national and international travel opportunities; tutoring and diagnostics; prom; yearbook; etc. 

If you have submitted an application for amission and are concerned about paying the full cost of tuition and fees, please consider applying to our Financial Assistance Program. Apply here
 
More information on our financial assistance program is available here.

Financial Assistance Application Process

This process is separate from the application for admission process. To be considered for financial assistance at Parker, families must complete the steps of the financial assistance process listed below. Francis W. Parker School offers financial assistance to students on a demonstrated need basis, and FACTS Grant & Aid Assessment assists Parker in making financial assistance decisions. Through its analysis of the Grant & Aid Application, FACTS provides a basis to measure each family’s needs. Parker asses each family’s unique circumstances in a fair and equitable process.  
  
Please note the separate deadlines for the admissions and financial assistance process.

List of 5 items.

Frequently Asked Questions

List of 13 frequently asked questions.

  • Who will know if I inquire about or apply for financial assistance?

    Inquiries will be kept strictly confidential. Once you have completed an application, along with required documentation, the Financial Assistance Committee will consider your application. The Committee consists of a small number of administrators. No parents, faculty or Trustees will be aware of your inquiries or applications.
  • Should I apply for financial assistance?

    If you think you may be unable to pay full tuition and fees, you should apply for financial assistance. The amount of tuition that a family should be expected to pay is based on the family’s financial need. Financial need is defined as the difference between the family’s resources and its total educational expenses. The major factors affecting financial need include the family’s net income and assets, debts and liabilities, the number of dependents and the number of children attending schools and colleges charging tuition. Allowances are made for certain taxes, medical costs and unusual expenses. 
  • Can only families of modest income qualify for financial assistance?

    No. Net income is just one of the factors used when determining whether or not a family qualifies for financial assistance. Assets, debts and number of dependents also have considerable influence in the financial assistance process. Parker's Program serves families with a broad range of income levels. Even “middle income” families may be eligible.
  • What happens after I complete my financial assistance application?

    The financial assistance application process is hosted by a third-party company called FACTS Grant & Aid Assessment. FACTS analyzes your financial assistance application (called Grant & Aid Application) and recommends an amount that your family should be able to afford for educational expenses. Within the limitations of our budget and according to our financial assistance policies, Parker uses the recommendation to determine the amount of financial assistance to offer.

    Note: Parker makes every effort to meet the full financial need of each qualified family. However, requests for assistance may exceed our financial assistance budget in some cases.
  • Will a request for financial assistance influence an admission decision?

    A request for financial assistance will not influence our decision to offer admission. In accordance with the National Association of Independent Schools (NAIS) Principles of Good Practice, Parker uses a need-blind admission process that keeps admission and financial assistance as separate processes.
  • Is there a repayment obligation if a family receives financial assistance?

    No. Financial assistance is awarded as a grant to the student and family. Our grants do not require repayment. Parker hopes that if circumstances change, recipients will make a contribution to the school, thus enabling Parker to award assistance to other students in the future.
  • Is a student receiving financial assistance required to assume extra responsibilities?

    No. Expectations of students receiving financial assistance are no different from that of other Parker students.
  • Is financial assistance automatically renewed each year?

    No. Families are required to reapply for financial assistance each year. However, once financial assistance is awarded, it is reasonable to expect that financial assistance will be awarded each year provided that the family's financial situation has not substantially changed and the student is in good standing. Families can expect modest standard increases as tuition increases.
  • Does a change in a family's financial circumstances result in a change in the financial assistance decision?

    Yes. Significant changes may influence the amount of assistance that is awarded in a subsequent year. Depending on the change, this could result in an increase or decrease in the level of assistance awarded. Also, changes in the financial assistance budget and allocation may affect the amount of assistance awarded.
  • Is there a policy regarding parents who are divorced, separated or never married?

    Both parents or guardians—and their current spouses or life partners, if any—must complete the financial assistance application process. All information will be held in strict confidence. If this process is not completed by both parents or guardians, the Financial Assistance Committee may be unable to award financial assistance. Parker will consider the income and assets of both parents or guardians and is not bound by the assertion that one parent or guardian has responsibility for educational expenses. A parent or guardian may apply for a waiver if the other is not involved in the life or support of the applicant.
  • What is the deadline to apply for financial assistance?

    The deadline to submit the FACTS Grant & Aid Application and notify Parker is November 15 for affiliated applicants and December 15 for general applicants.
  • What other information do I need to submit to complete a financial assistance application?

    In addition to the Grant & Aid Application, families should submit their complete 2018 Federal Income Tax Returns, including all schedules and W2s, to FACTS by February 15, 2019.
  • Who do I contact if I have questions about financial assistance?

    Karen Fisher, Director of Enrollment and Financial Aid*
    or 
    Julia Martinez, Assistant Director of Enrollment and Financial Aid*

    *Hablan español

    Francis W. Parker School
    330 West Webster Avenue
    Chicago, Illinois 60614
    773.797.5112
    faid@fwparker.org

Questions about Financial Assistance at Parker?

E-mail us at faid@fwparker.org.

Habla Español?
 
Para información en español póngase en contacto con Julia Martinez, 
jmartinez@fwparker.org 
o llamar 773.797.5112
Karen G. Fisher
Director of Enrollment and Financial Aid
773.797.5111
kfisher@fwparker.org

Julia Martinez
Assistant Director of Enrollment and Financial Aid
773.797.5112
jmartinez@fwparker.org
Francis W. Parker School educates students to think and act with empathy, courage and clarity as responsible citizens and leaders in a diverse democratic society and global community.