Richmond private school officials will be holding their breath Tuesday, March 17, when acceptance letters go out to high school students. They are optimistic about enrollment for the 2009-10 school year despite the economic downturn. But directors at almost all of the local private schools are braced for more requests for financial aid.
Margie Snead, associate director of admissions at Trinity Episcopal (coed, college prep, grades 8-12, 440 students) said, “A much greater percentage of families are requesting financial aid. We’ve adjusted the wording in financial application requests to get that information in – the sooner the better.” Schools must balance the amount of financial aid available versus the number of requests. For example, said Snead, there could be two to three students who need a lot of financial aid versus four to five who need less.
Nationwide, enrollment has remained steady in the past six recessions, said Myra McGovern, director of public information for the National Association of Independent Schools. At the same time, financial aid has increased.
“Although we don’t collect statistics on this,” said McGovern, “we’ve heard anecdotally that more families that are currently enrolled in independent schools are applying for financial aid.”
Interviews with admissions directors at Richmond area schools that are members of the Virginia and National Association of Independent Schools bear that out. They say that attendance at open houses and admission requests are steady or up and that re-enrollment figures are good. All said they are seeing more requests for financial aid, from existing and potential students.
At Collegiate School, which has about 1,550 students in K-12, Admission Director Amanda Surgner said there has been steady re-enrollment volume. Surgner has been at the school since 1994.
“I’m certainly optimistic that we’re going to be in a good place,” said Surgner, who is hearing from families who haven’t requested financial aid in the past. “We have to show some flexibility and react to families, help those going through hard times right now. The real proof [for the 2009-10 school year] is once you offer a spot.”
One of the challenges is the enrollment cycle at independent schools, said McGovern. “Most [admission] applications are due in January and February. Financial aid applications come later.”
Independent schools are funded primarily through tuition, charitable contributions and endowment income. Those endowments could be down significantly.
McGovern, of the NAIS, said many families are willing to make big sacrifices to afford private school because they value it highly. “So highly, in fact, they view it as a necessity rather than a discretionary expense. Also, parents are reluctant to disrupt their children’s lives, so they do what they can to make the financial situation work.”
None of the Richmond area admissions officials reported a withdrawal this school year because of the economy, but newspapers in New York have reported that applications to prestigious private schools there are down considerably.
NAIS administers a program that helps schools calculate financial need, called the School and Student Service for Financial Aid. The SSS processed 146,000 applications for the 2008-09 school year, a jump of 4.3 percent over the previous year. Financial aid applicants’ incomes have increased in recent years, the SSS reports.
According to data from the Virginia Association of Independent Schools, in 2002-03, the percentage of students on financial aid was 16 percent, the average grant was $7,119, and the average median tuition for grades 9 and 12 (Aaron, 9 and 12 is cq) was $10,650. For the 2007-08 school year, the percentage of students on financial aid was 17 percent, the average grant, $10,180, and the average median tuition for grades 9 and 12, $14,460.
Richmond BizSense checked in with a handful of schools around Richmond. Here is what they said:
Anne Booker, direction of admissions at St. Christopher’s School (boys Episcopal, JK-12, 955): “I’m optimistic. … A former colleague said, ‘When the economy gets tight, people focus on what’s most important, and that’s frequently their children’s education.’” Booker, who has been in admissions at St. Christopher’s for 25 years, said she has received more requests for financial aid.
Maureen Williams, admissions director at Saint Gertrude High School (Catholic girls, 9-12, 273): “Our numbers look good. We’ve had high interest at all of our events, from the open house back in the fall.” Williams credits small classes, teacher interaction and parental involvement. “A lot of our parents want a faith-based education, with theology classes, and say ‘how can we afford it.’ This is where they want to be.” More parents are seeking scholarship opportunities and financial aid, said Williams.
Amy Humphreys, admissions director at Richmond Montessori School (coed Montessori, PK-8, 320): “Our enrollment is larger than it was this time last year,” said Humphreys. “Our re-enrollment contracts are ahead compared to last year, by about 9 percent. We’re modestly priced, and that’s to our benefit.” Humphreys said Richmond Montessori has been able to increase financial aid by 20 percent a year in recent years.
Ed Hubbard, headmaster at St. Michael’s Episcopal School (coed Episcopal, K-8, 371) said it’s a bit premature to say how the school will be affected by the downturn in the economy. “I could fairly say we are expecting an increase in people with financial need,” said Hubbard. “We’re definitely concerned about that. We’re also cautiously optimistic about how it’s going for next year.” Hubbard said the national attrition rate for schools is about 10 percent. “St. Michael’s, historically, is closer to 5 percent. We’re anticipating a slight increase in withdrawals.”
Greg Lilly, admissions director at Benedictine (boys Catholic, military, 9-12, 268) said the school is tracking almost identical numbers from last year, and is well ahead of three years ago.
“We’re very unique in several senses in the Richmond area [military and Catholic], and our tuition is 60 percent, 70 percent of other schools,” said Lilly. “From a financial standpoint, people may not be doing as well, but they’re making the commitment and sacrifice for their children’s education.”
Pam Feibish is the former business editor at the Richmond Times-Dispatch.
