Affording a Parker Education

Francis W. Parker School has offered a financial assistance program to its families since its inception in 1901. Financial assistance is an inherent part of the school’s philosophy and a way to maintain the socioeconomic diversity of the student body and over 20% of our students receive some sort of tuition assistance. The school is committed to making a Parker education accessible to students of all backgrounds, at a wide variety of income levels.

Our unique financial empowerment program offers more than just tuition assistance. Our commitment is to provide benefits to qualifying students and families so that they will be full participants in the life of the school. Your student may receive assistance with extended day care, food, transportation, athletic equipment, tutoring, admission to dances, athletic competitions and community events, college admission preparation, search and application expenses and national and international travel opportunities.

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 common base to measure each family’s needs can be measured fairly and equitably.  
  
Please note the separate deadlines for the admissions and financial assistance process.

List of 5 items.

  • Step 1: Request Financial Assistance Information

    Either complete the form on the last page of the application for admission or contact the Financial Aid Office at faid@fwparker.org. Forms are available online here. Click here for an informational flyer from FACTS.
  • Step 2: Submit the FACTS Grant & Aid Application to FACTS

    Complete all parts of the application, provided by FACTS Grant & Aid Assessment. Before completing the application, carefully read all instructions. Any omission on the application could result in a delay in awarding financial aid. The application can be submitted here.

    Submit the application with the $30 fee by December 15. To request consideration for a FACTS application fee waiver, please email faid@fwparker.org or call 773.797.5110.

    If your child is affiliated, submit your application by November 15 and notify the Financial Aid Office.

    If you are a current Parker family and this is your first time submitting an application for financial assistance, please notify us at faid@fwparker.org.
  • Step 3: Submit the following information to FACTS by February 15, 2018.

    Provide via FACTS a signed, but not dated, IRS form 4506. (NOTE: Do not submit any payment to the IRS. Francis W. Parker School will pay the fee for submitting form 4506 if we elect to request a copy of your original filed tax return.)

    Fill out our Supplemental Information Form and submit to FACTS.
  • Step 4: Income Tax Returns

    Submit copies of your filed 2017 Federal Income Tax Return, including all schedules, W-2s and 1099s, by February 15, 2018 to FACTS hereBe sure to retain copies for your personal records.
  • Step 5: Confidentality

    All your financial aid inquiries and documents will remain confidential.

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 Financial Assistance 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?

    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. If you think you may be unable to pay full tuition and fees, you should apply for financial assistance.
  • 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 aid process. Parker's Financial assistance 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 aid 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 aid 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.
  • 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.
  • 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, 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, 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 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 2017 Federal Income Tax Returns, including all schedules and W2s, to FACTS by February 15, 2018.
  • Who do I contact if I have questions about financial assistance?

    Karen Fisher, Director of Enrollment and Financial Aid
    Paige Walus, Assistant Director of Enrollment and Financial Aid

    Francis W. Parker School
    330 West Webster Avenue
    Chicago, Illinois 60614
    773.797.5110
    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 Karen Fisher, 
kfisher@fwparker.org 
o llamar 773.797.5111
Karen Fisher
Director of Enrollment and Financial Aid
773.797.5111
kfisher@fwparker.org

Paige Walus
Assistant Director of Enrollment and Financial Aid
773.797.5110
pwalus@fwparker.org
Francis W. Parker School educates students to think and act with empathy, courage and clarity as responsible citizens and leaders in a democratic society and global community.