Tuition & Financial Aid
At Reserve, we take admission personally.
Western Reserve Academy's financial aid program supports our commitment to enroll talented and diverse students like you. The cost of education should not deter you from applying. WRA awards more than $5.26 million in need-based financial aid to 40 percent of the student body each year. If you are offered admission, WRA puts forth every effort to make education affordable for you. Need-based financial aid awards are not loans; they are grant awards that do not need to be repaid. WRA's financial aid budget is funded through the school's endowment.
"WRA and our Admission Office are committed to excellence and access. This means opening our doors to ambitious learners from every background, and building an environment once they are here to help them thrive as creators, inventors, authors, artists and visionaries - tomorrow's Pioneers."
- Dan Morrissey, Dean of Admission & Financial Aid
WRA strives to have an all-inclusive tuition and does not have extraneous fees. Tuition covers classroom instruction, room and board, laboratory equipment and material, athletics, admission to athletic contests and weekend campus entertainment. The families do have to pay additional fees for books, uniform and laundry.
Tuition for the 2016-17 School Year
Day tuition: $35,500
Boarding tuition: $53,700
Applying for Financial Aid
WRA bases aid decisions on demonstrated need, which is defined as the difference between the amount of money a family can afford to contribute and the cost of tuition. The family's contribution is calculated according to information provided on the Parents’ Financial Statement (PFS), which is created by the School & Student Service for Financial Aid (SSS).
Day Applicants - Due Dec. 13, 2016
Boarding Applicants - Due Feb. 1, 2017
Submit a copy of your 2016 IRS 1040, W-2s and 1099s for parents and/or step-parents to SSS for processing.
Please note that our school's SSS code is 8110.
Additionally, copies of your 2016 IRS 1040, W-2s and 1099s for parents and/or stepparents need to be submitted to SSS for both day and boarding student applications by Feb. 13, 2017.
Once processed by SSS, the results of your application will be visible to representatives of the WRA Admission Office. Any information that is provided to WRA will remain confidential. Individual awards are included in the admission acceptance packet.
Mail all documents to:
SSS by NAIS
Application Processing Center
P.O. Box 449
Randolph, MA 02368-449
(Overnight mail should be sent to 437 Turnpike Street / Canton, MA 02021)
- How are financial aid awards determined?
- Will our financial aid change from year to year?
- Who qualifies for financial aid?
- What about cases of divorce, separation and single parents?
- Does WRA offer financial aid to international families?
- What types of payment plans are available?
- Are there loan programs available to help meet the cost?
WRA is committed to serving qualified students who are unable to afford full tuition. After a student has been accepted through the admission process, the Financial Aid Committee reviews completed financial aid files. Western Reserve Academy subscribes to the School and Student Service for Financial Aid (SSS), which assesses and helps to determine a family’s need for assistance based on income, assets and reasonable expenses. In addition to using SSS, we require your previous year’s tax returns and all applicable schedules, to help determine the level of need. After determining a manageable family contribution, the committee determines a financial aid award and sends the award along with the admittance packet.
Financial aid need and awards are recalculated every year using up-to-date information. If there is little change in a family’s circumstances, one can expect that grants will be renewed at similar levels plus the yearly tuition increase. If there are significant changes in a family’s situation, adjustments will be made.
In cases of divorce or separation, WRA requires information from both natural parents and any stepparents. Each parent must complete and submit a Parents’ Financial Statement (PFS), the WRA supplemental financial aid form and a copy of their current IRS 1040, W2s and 1099s. The family’s ability to contribute is based on both natural parents’ and any stepparent’s income and assets, bearing in mind responsibilities that stepparents may have for their own biological children.
To help manage costs, WRA offers two convenient payment plans. The standard option allows for payment in two installments as indicated on the WRA enrollment contract. The second option is our monthly payment plan, offered through Tuition Management Systems, a subsidiary of Key Bank, which allows you to pay annual expenses in 10, interest-free installments. For details, contact Key at 800-347-3430 or visit their website.
Yes, educational loan programs are available to assist families in making tuition payments affordable. An excellent resource for information on these programs can be found on the National Association of Independent Schools (NAIS) website.