GENERAL INFORMATION

       It is Scranton Prep’s desire to make the financial aid process as user-friendly as possible. Scranton Prep wishes to reassure parents and students that asking for and qualifying for financial aid invoke no stigma. Financial aid awards are made in order to insure that every student can participate fully in the life of the school.
Every effort is made to keep the cost of tuition affordable. Because of the value of a Scranton Prep education every family is asked to pay their fair share of tuition cost. No student is granted 100% of the total tuition. At the same time, Prep is very aware of the financial burdens carried by parents today. There are no large hidden fees or other financial obligations placed on parents. Many parents do support the efforts of the school through generous participation in efforts such as the Parent’s Club activities.
The Financial aid program at Scranton Prep is fully funded and is made possible through the use of endowments, the efforts of Scranton Prep’s Development Office, and other grants and charitable gifts. Unlike some programs, it is not a tuition reduction program. Every dollar that is awarded for financial aid is an actual dollar from one of the above sources.
Over $700,000 in aid is given out annually with approximately 25% of the students attending Prep receiving aid. The average grant is over $2,700.

            In order to assure that decisions regarding financial aid are made on an objective basis Scranton Prep utilizes an independent service. Financial Aid for School Tuition (FAST) is a product of Independent School Management (ISM).
FAST is one of the most direct ways in which we can apply our resources to implement our financial aid mission effectively.  FAST gives us the ability to customize our financial aid program to support the lives of the families who desire to attend Scranton Prep.
FAST sets up thresholds based on local cost-of-living expenses. Prep has adjusted these settings based on our knowledge of our family’s circumstances and our school’s culture. Things like charitable contributions and other expenses or assets that reflect the values of our community are taken into consideration. 
FAST gives Scranton Prep the ability to confirm and understand individual family records. This is particularly helpful when the applicant is self employed or the family is experiencing some kind of temporary financial hardship. Utilizing the FAST process will allow Prep to deal with financial aid requests with the same understanding and compassion that is the hallmark of our everyday work with students and families.
            Because FASTis web-based, the Financial Aid Committee members can review applications on our own time as they are received.  FAST is perfect for today’s busy families. Easy access, support and immediate feedback makes it user friendly. Families can get to FAST directly from our web site.  Once in the application, parents supply the necessary financial information to determine need.  Parents can conveniently pay for their application with VISA or MasterCard. In addition, there is of the opportunity for parents to explain their family’s individual situation.
            FAST also gives parents significant support.  There is a downloadable worksheet and user guide.  Red HELP bubbles appear for every numeric field.  Live help is a phone call or e-mail away.  The FAST toll-free Help Desk is open 24 hours a day, every day.