Frequently asked Questions Regarding Financial Aid
The decision of private education is an important one. The cost of private education from kindergarten through college is a major factor in this decision for many families in the Bay Area.
At St. Ignatius College Prep, we are fortunate to benefit from the generosity of our benefactors to offer financial assistance to students and families in need. Below is a sampling of the typical questions surrounding this process, as well as some statistics gathered in the last academic year. If you should have further questions, feel free to contact John Grealish, the Business Manager, at 415-731-7500 ext. 246 or by email at jgrealish@siprep.org. Thank you for considering S.I. We know you have a number of schools to choose from for your child’s education.
- How is Financial Aid handled at St. Ignatius?
- Who can apply for financial aid?
- Why are there two parts to the application?
- When is each part due?
- What is the total amount of aid available? What is the average grant?
- We have a child in college. How does the school treat that expense?
The school is fortunate to be able to assist families that seek a Jesuit education. Financial aid is distributed as tuition assistance to qualified families based upon need. Other schools may offer merit scholarships, but at St. Ignatius the only aid is need based. At the current time, the school does not subsidize or prorate any of the other costs related to attending S.I.
All families who have a student at St. Ignatius are eligible to apply for financial aid. The process has two parts, the Private School Aid Service application and the St. Ignatius portion.
The P.S.A.S. portion of the application gives the financial aid committee a report from an outside source. P.S.A.S. has 1600 clients nationwide and they provide a report to the school on the ability of each family to pay the S.I. tuition.
The St. Ignatius portion of the application provides the committee with additional information as well as the most current tax year information.
The PSAS application should be postmarked no later than Tuesday, January 20, 2009. Please do not send this application to the school. The St. Ignatius portion is due in the office by Tuesday, February 17, 2009. The 2008 tax return will be a required portion of the St. Ignatius application.
In 2007-2008, the school distributed approximately $1,502,000 to 275 families, an average of $5,462 per family.
While the school committee realizes the challenges and costs associated with a college education, it keeps college age children out of the direct evaluation. The college process also has a financial aid as well as a grant process that parents can access for assistance.
Statistics gathered from Financial Aid 2007
| Class Of: | 2008 | 2009 | 2010 | 2011 |
| Average Grant: | $4,741 | $5,566 | $5,790 | |
| 2006 Federal Return Line 37: | $89,827 | $86,005 | $69,102 | |
| Deferred Compensation: | $3,396 | $3,994 | $2,363 | |
| Interest Income: | $1,668 | $429 | $712 | |
| Average Family Size: | 3.8 | 4.0 | 3.7 | |
| Percentage that own their own home: | 79% | 76% | 77% |