Over a period of years Prep for Prep's entering contingents gradually increased from 25 to as many as 150 students. In 1988, for the first time, more than 100 students matriculated at independent schools (commonly known as private schools) in a single year. In a typical year at least 75% of the students who begin the 14-month Preparatory Component successfully complete it.
Technically the answer is "No,” because an Admissions Committee at each independent school (commonly known as private school) makes the final decisions on particular candidates to that school. However, it is our expectation that every child who remains in good standing in Prep will be admitted to one of the participating schools. Because our students are well-prepared and highly-motivated, and because the schools are committed to the program, the acceptance rate of our students is extraordinary. In fact, since Prep’s founding, virtually every child who remained in good standing in the program has been admitted to one of the schools. In a few cases each year, this has required additional applications and advocacy in the spring after the bulk of placement decisions are completed.
Prep for Prep does not charge tuition. The only financial expenses for our families are the bus fees for the summer Preparatory Component. Moreover, every year, our students are awarded approximately $35 million in financial aid directly from their independent (private) schools. While Prep families receive financial aid, many will also be asked to pay some part of independent school costs.
Space in the Prep for Prep program is reserved for students who demonstrate very strong academic performance and high financial need. As such, Prep for Prep considers family income and financial assets as part of its application process.
Prep for Prep students admitted to participating independent schools (commonly known as private schools) are guaranteed financial aid to the extent that each child's family situation warrants it. Each parent is asked to fill out a financial statement in December or January. Each situation is analyzed individually, according to a formula devised by the School and Student Services for Financial Aid and the independent schools.
The formula takes into account not only family income but a great variety of factors that might affect a family's ability to contribute toward educational expenses. The underlying premise of the financial aid process, however, is that each family is responsible for the costs of education for its children to the extent that each family is able to pay, and financial aid is supposed to make up the difference. Prep for Prep staff members are available to help families with the forms.
Many of our families qualify for full-tuition financial aid awards or very close to full-tuition awards. Families should understand that although they may be judged by an independent school to need very considerable aid, they will probably still be expected to pay a portion of their child's school expenses.
Families whose income is above $100,000 and/or families who have substantial assets will probably be asked to make a more significant contribution to school costs, although even in this income bracket (where a range of factors makes each situation different), significant financial aid is very often judged necessary and is awarded, particularly to families with multiple minor children.
While students and families are expected to arrange transportation on Wednesdays and Saturdays during the academic school year, Prep for Prep is committed to chartering transportation during the summer session. We cover 75% of the costs and kindly ask for each family to contribute to the difference.
The parents and the students themselves are central figures in this decision, but counseling is provided by staff members to assist families in finding the best match. After visiting several schools, each child applies to two or three schools. If more than one of these schools admits a particular child, and if the child and parents have a strong preference for a particular school, we try our best to take this into account. In order to ensure that every child in the program who is in good standing be admitted to an appropriate school, it is not possible to honor the "first" choice of every child. For that reason, we ask each child for two "co-equal" choices. Also, if a student is not offered a place at any of the first schools selected, we ask families to consider additional school(s) for further applications.
The financial aid formula used by School and Student Services for Financial Aid and the independent (private) schools applies to our families as it does to everyone else. There are, however, a number of major advantages to being a Prep for Prep candidate applying to these schools. Primarily, no student gets financial aid unless he or she has been admitted to a school, and being a Prep for Prep student is a big advantage in admissions.
In addition, it is often the case that a school will admit a student who is not from Prep for Prep, but then inform the family that even though the family qualifies for financial aid, the school has already used up its financial aid budget and therefore cannot award the child any aid. This will not happen to Prep for Prep students because the schools are committing places and financial aid. If a Prep student is admitted, the money is available.
Finally, filling out financial aid forms completely and accurately is important, and Prep for Prep is committed to making sure that each child is awarded as much financial aid as the family is entitled to receive. We will help parents with the forms and if it appears that a family has not been awarded a fair grant, we will participate in discussing the matter with the appropriate school personnel.
ADMISSIONS & ACADEMIC PROGRAMS 163 West 91st Street New York, NY 10024 P: 212.579.1470
LEADERSHIP PROGRAMS & ADMINISTRATION 328 West 71st Street New York, NY 10023 P: 212.579.1390
Prep for Prep develops ethical and effective leaders who reflect our diverse society for the enduring benefit of all.