Financial Aid FAQs

We encourage all families to apply for aid if they believe they need any level of financial support to afford a Hotchkiss education. If you think that you will need financial aid at any point during your child’s time at Hotchkiss, we strongly encourage you to apply for aid during the admission process.

Yes. Despite our sizable financial aid budget of more than $10.78 million, the Office of Admission and Financial Aid is not able to fund every applicant we would like to admit. We will only admit students if we can meet their financial need.

We strongly encourage families to apply for financial aid during the application process if they believe that they will need financial assistance at any time during their child’s tenure at Hotchkiss. If a family does not apply for aid or qualify for aid upon admission, it is unlikely that the family will receive an aid award in subsequent years, unless there is a significant change in that family’s financial circumstances — such as job loss, additional children attending tuition-charging schools, or the death of a parent. If you have any questions, please do not hesitate to contact the director of financial aid.

Domestic families must complete the Parent Financial Statement (PFS) online through School & Student Services (SSS). International families should by-pass the Required (U.S.) Documents fields and instead upload their supporting proof-of-income documentation to the Additional Documents fields. An International Student Financial Aid Profile (ISFAP) must also be completed and uploaded by international families.

School and Student Services (SSS) uses the information provided by a family on the PFS and automatically applies a waiver if a family qualifies for one. Follow this link to learn more about SSS.

Financial aid is determined through the analysis of a family’s financial resources, including both income and assets. Our goal is to determine the amount of money a family can contribute to educational expenses. Factors such as family size, number of children in tuition-charging schools, and cost of living expenses are all taken into consideration when determining a family’s financial aid award.

International applicants who file taxes in Canada and other countries outside the U.S should follow the process outlined on the Financial Aid page of our website (under "Financial Aid Process" section). 

For domestic families who are self-employed or own their own business, a copy of the 2018 and 2019 Schedule C and/or Schedule E, along with any other pertinent information, must be provided as part of the complete return. Please contact the Office of Financial Aid with any questions.

The Financial Aid Committee will consider the income and assets of both custodial and non-custodial parents before making an award. Thus, both the custodial and the non-custodial parent must submit a financial aid application. If either parent is remarried, the income and assets of the stepparent are considered, bearing in mind the obligations of that stepparent to his or her natural children. Parents should contact the Director of Financial Aid if they have any specific questions regarding their divorced or separated status.

Typically, the Financial Aid Committee will impute a wage for a spouse who is not currently employed. However, the committee makes exceptions when a spouse has a substantial reason for not being employed, such as having non-school-age children at home, having children and/or parents who require significant assistance, inability to find employment, or inability to work due to religious or cultural reasons. If you have any questions regarding this policy, please do not hesitate to contact the Director of Financial Aid.

Yes. The committee considers additional expenses beyond tuition, such as the cost of books and travel.

No. The Parents’ Financial Statement (PFS) allows you to apply for up to three children.

Meeting the deadlines is imperative (December 1 for returning students; January 15 for new applicants). Funds are not reserved for late applicants. Families applying late, however, should still apply for aid; limited funds may still be available.

The Office of Financial Aid will notify details of financial aid awards to newly admitted families with the student’s acceptance on March 10, 2021.

For currently enrolled families, financial aid awards are included in the online re-enrollment process at the end of February.

Financial aid awards are subject to annual review, and families must complete new applications each year. Provided that a family’s financial circumstances have not changed, the family may assume that its financial aid award will be renewed at the original level of funding. If a family does not apply for or qualify for aid upon admission, it is unlikely that the family will qualify in subsequent years unless there is a significant change in a family’s financial circumstances. If you have any questions, please do not hesitate to contact the Director of Financial Aid.

Yes. Please see Tuition and Payment Plans.

All financial information provided to Hotchkiss is held in the strictest confidence throughout the application process. Only the director of financial aid, members of the Financial Aid Committee, and the dean of admission have access to one's financial aid application.

No. All financial aid at Hotchkiss is awarded on the basis of demonstrated need.

Yes, a family can appeal a financial aid award. The family would need to provide 2020 financial information (for example, W-2s and 1040s) as part of the appeal process. If you have any questions, please do not hesitate to contact our office.