If you are like many families considering the Academy, you are probably very interested in exploring your options for financing an independent school education. Knowing the facts about who attends the Academy, and how they afford an Academy education and experience, can help remove any doubts that you may have about affording Interlochen Arts Academy:

• No student or family should be discouraged from applying to Interlochen Arts Academy because of lack of funds. We welcome a broad cross section of families who believe in their children and in their ability to succeed.
• Interlochen’s commitment to a diverse, talented and highly motivated student body translates into an institutional commitment far greater than most independent schools to help deserving students and families have access to the high quality, unique education and experience that is Interlochen Arts Academy.
• We offer considerable financial aid, based on three criteria:
  • The financial need of the family
  • The artistic and academic ability of the student
  • The enrollment needs of the academy
• Approximately 70% of the Academy student body receives financial aid. In comparison, according to the National Association of Independent Schools most recent survey (2004-2005), most independent schools provide only 30% of financial aid to their students.
• Interlochen tuition remains $3,000 - $5,000 below other independent, national boarding schools.

 
As a parent or student it is important to equate the value of what an Interlochen education means for future success. This is an important consideration when considering any investment. While future success always depends on the motivation, initiative, discipline and lifestyle of the student, the 206 Interlochen students who graduated in 2005 received more than $4.7 million in scholarship offers from among the nation’s most prestigious college’s, universities, conservatories and professional schools. Presidents, deans and directors of those schools have said repeatedly that Interlochen students come with a preparation, understanding, skill and motivation that give them an advantage among their peers.

In the final analysis, regardless of what financial aid you may receive, or what your family may contribute to an Interlochen education, you are giving your child an educational experience that will give them significant advantages in their future education and professional work. Our alumni are living proof.

Students who enroll at the Academy will discover a strong commitment from Interlochen to address financial need as well as help to ensure a student's continuing study in our program. Each year the Financial Assistance Committee asks that parents resubmit the Parents' Financial Statement (PFS) to School and Student Service for Financial Aid (SSS). While renewal of financial awards is likely, it is not guaranteed. As such, performance, conduct and commitment to the goals of the Academy will be assessed as part of the annual re-evaluation process for financial assistance.

** Fees and tuition for the 2008-09 academic year.

How to apply for financial aid:

1. Financial aid forms are available from the Admissions Office. Families may also choose to submit an electronic version of the PFS form.
2. A family must complete the Parents Financial Statement (PFS) and submit the original to School and Student Service (SSS) in Princeton, NJ.
3. SSS reviews each family's financial situation and sends the school a Report of Financial Need (RFN). This is a preliminary guideline which the school uses in making its own calculations. For an additional fee, families may have a copy of the report sent to them.
4. As a complement to the Report of Financial need, we require that all families send a copy of their most recently completed US Income tax form (1040) directly to the Admissions office.
5. The Financial Aid committee cannot consider requests for Financial Aid until the Admissions Office has received all the required admissions documents and the students file is complete. Families are encouraged to submit all required Financial Aid forms at the time of application to the Academy. There is generally a three to four week processing time for SSS to compute the PFS.
6. If you are an international student, please follow steps 1-5 above.  Submit a Federal tax form from your country of residence, instead of a US tax return.  Additionally, parents, please remit a Certificate of Finance from your bank(s) and verification of employment from your current employer.

Payment plans
To help you manage tuition costs, a variety of payment plans are available, including:

• A liberal payment plan through Key Education Resources, which allows families to spread tuition payments over 10 months, with no credit check or interest charges, and a registration fee of only $165.
• Achieverloan, which offers a 10-year repayment term, low overall cost and the ability, with one application, to reserve funds for up to four years of education.

Additional Resources:
For general information about financing a private school education, including a list of national scholarship resources, visit the National Association of Independent Schools. You can view a list of scholarship providers. 

Questions?
Call the Office of Admission and Financial Aid at 800.681.5912 or 231.276.7472 or email admission@interlochen.org.