Affording MICDS - Tuition Assistance
Tuition and Affordability
At MICDS, students are prepared not only with the knowledge and skills they need to be successful but also with the desire and confidence to make a difference in the world. They are supported by faculty, coaches, administrators and peers as they discover and further their passions in and out of the classroom. Students matriculate to many of the most competitive colleges and universities in the country where they continue to pursue lives of purpose and service.
2019-20 Tuition and Average Tuition Assistance:
|Division||Grades||Tuition||Average Need-based Award|
|Middle School||5 & 6||$25,120||$15,780|
|Middle School||7 & 8||$29,040||$18,300|
At our School, many of the extra costs associated with attending MICDS are included with tuition —lunch and snacks at each division, field trips for all grades, laptops in Middle and Upper school, technology fees, ACT and SAT prep, Parents Association dues, summer Bridge orientation programs for new Middle and Upper School students, Pathfinders, optional after-school study time for 7th-12th graders, and summer strength and conditioning sessions for our student-athletes. Charges in the Middle and Upper School grades for books, athletics and classroom materials, may cost an additional $500-$1,500 per year.
MICDS’ extraordinary education is an investment in the future and is available for all qualified students, regardless of their family’s ability to pay. Through a substantial tuition assistance program, we are committed to bringing the cost of an MICDS education within reach for families. For the 2019-20 school year, 24% of our students benefited from over $5,100,000 in tuition assistance.
Our tuition assistance program is a need-based program. Need is defined as the difference between educational expenses and the family’s ability to pay those expenses. Most families of four earning under $175,000 qualify for tuition assistance.
2019-20 Tuition Discounts and Fees Based on Household Income:
|Household Income||Under $100,000||$100K-$200K|
|Average Percent of Tuition Discount||78%||54%|
|Average Tuition Fee||$5,800||$12,400|
Every family is unique and many factors are considered in determining tuition discounts.
Students who received assistance with tuition also receive assistance with other essential costs such as textbooks and AP exam fees for enrolled courses.
Each family is a financial partner for their student’s education. An honest and collaborative tuition assistance application process will yield the best result for the family and MICDS. NAIS’ Guiding Principles for Families supports this best practice.
MICDS partners with School and Student Services (SSS) in our tuition assistance online application process. Applications for the 2020-21 school year will be accepted beginning on October 2, 2019. An application includes a Parents Financial Statement (PFS), the household 2018 federal tax returns and W-2 statements.
Admission decisions are made solely on a student’s merits, irrespective of the family’s ability to pay. Therefore, the admission application process and the tuition assistance application process are separate and distinct. Families will be notified of tuition assistance at the time of the Admission decision.
- Practices and Policies
- MICDS follows the NAIS “Financial Aid Principles of Good Practice” and respects the privacy of each family.
- Tuition assistance is made possible because of grant money. It does not need to be paid back.
- Because each family’s financial needs are unique, determinations for assistance are carefully considered with multiple contributing factors including, but not limited to, income, assets, liabilities, net worth, size of family and other children in tuition-paying schools.
- Each year tuition assistance is computed independently from the prior year. If a family’s financial situation changes from the prior year, the level of tuition assistance may change accordingly.
- In the case of business ownership of more than 10%, a family is required to provide a copy of the business tax return as part of the application process.
- MICDS imputes wages for parents who choose not to work except when there is a non-school aged child in the home.
- In situations where couples are living together but not married, financial information is required from both parties.
- In situations where parents are divorced or separated, a separate application is required from both natural parents inclusive of their current spouses.
- The application for tuition assistance must be completed by the legal custodian of the student.
MICDS puts a substantial amount of money toward tuition assistance, but there are limits to the budget. Adhering to these deadlines is essential. For our currently enrolled students, the early deadline allows us to consider the needs of our returning students before those of newly applying students. Missing application deadlines will put your family’s ability to receive assistance in jeopardy.
|Currently Enrolled Families||December 2, 2019|
|New 9th Grade Applicants||December 16, 2019|
|Family Early Action Option (JK) Applicants||December 16, 2019|
|New Applicants for All Other Grade Levels||February 3, 2020|
- What are the tuition due dates?
Tuition is due on the following dates:
- 10% is due at the time of enrollment
- 70% of the balance is due on August 15th of the current school year
- 30% of the balance is due on December 15th of the current school year
- What are the tuition payment options?
Payments can be made with an e-check, cashier’s check, regular check, cash or by credit card on the MICDS portal.
A 10-month payment plan (10-Pay Plan) is available. In this plan, monthly payments are automatically withdrawn from an account on a specific day of each month, July through April.
- Can I use my 529 plan to pay tuition?
Yes, 529 plans can be accessed to pay tuition fees at MICDS for grades K-12. As of 2018, for federal tax benefit purposes, up to $10,000 in tuition expenses per student per year is exempt. In addition, Missouri taxpayers can use 529 assets with no state tax consequences. This is not the case with all states, so if you reside outside of Missouri, please consult your tax advisor.
- Why is there an MICDS Fund on top of tuition costs?
Gifts to the MICDS Fund help to offset the cost of tuition and the full cost of educating a student at MICDS. All gifts are considered charitable contributions and are fully tax-deductible.
- What are the 2020-21 school year tuition assistance application deadlines?
Currently Enrolled Families December 2, 2019 New 9th Grade Applicants December 16, 2019 Family Early Action Option (JK) Applicants December 16, 2019 New Applicants for All Other Grade Levels February 3, 2020
MICDS puts a substantial amount toward tuition assistance, but there are limits to the budget. Missing application deadlines will put your family’s ability to receive tuition assistance in jeopardy.
Learn more in our Affording MICDS brochure.
- What is tuition assistance?
Tuition assistance is awarded with grant money and does not need to be paid back. MICDS does not include payback loans as part of a tuition aid package. All tuition assistance awards are based solely on a family’s demonstrated need, as determined by the MICDS Tuition Assistance Committee. The School aims to fund a tuition award to the full extent of a family’s demonstrated need. More than $5 million was awarded in tuition assistance for the 2018-19 academic year.
- What is demonstrated need?
“Demonstrated need” is defined as the difference between the amount a family can be expected to contribute to the cost of the student’s education and the amount of annual tuition. All families attending MICDS are expected to contribute toward the cost of their student’s education.
- What does tuition assistance cover?
Tuition assistance covers tuition, as well as proportionally covers the cost of books, summer reading and extended day services.
- When will I receive a decision about tuition assistance?
The School commits support first to the returning students who receive tuition assistance. Returning students will receive notices starting in late January and continue through February. Tuition assistance decisions for new students will be communicated on the same day as the admission decision if the SSS application materials were submitted on time.
- What effect does a tuition assistance application have on a student's admission application?
None. Admission and tuition assistance decisions are different processes and their respective decisions are made by different committees. Decisions regarding tuition assistance are determined by the Tuition Assistance Committee after the Admission Committee determines eligibility for admission.
- Will the level of tuition assistance change in subsequent years?
Possibly. Because a family’s financial circumstances are subject to change, we require families to reapply for tuition assistance every year. However, if your family situation remains relatively the same, then you can expect relatively the same percentage of tuition assistance–understanding that tuition and fees are likely to increase each year. On the contrary, significant changes in household income, either up or down, would likely have an impact on a family’s demonstrated need.
- What if I am separated or divorced?
In cases of divorce or separation, both parents or legal guardians are required to fully complete the tuition assistance process and file separate applications.
- Who has access to my financial information?
Tuition assistance applications are reviewed by the Tuition Assistance Committee. All information is secure and held in strict confidence.