The Financial Aid Committee determines need by evaluating a family’s ability to contribute against the cost of attendance.

School and Student Services (SSS) generates a recommendation based on information from the Parent Financial Statement (PFS) and uses a standardized calculation derived from a formula that is nationally accepted by independent schools. Using the tax returns and W-2s, Peddie makes any necessary adjustments (income amounts, federal and state taxes, cafeteria and pension deductions, etc.) to the family’s initial estimates. The Financial Aid Committee's analysis is based on factors including parental employment, family size, the prior two years' income and expenses, assets and liabilities, living expenses/lifestyle choices, and the number of family members for whom the family is paying tuition.

Admission applications are reviewed without regard for a family’s ability to pay. Only in the final phase of the selection process is the committee “need aware” when weighing admission decisions against available funds. If you think you need aid, you should apply.

You must reapply every year for financial aid. You can expect your child’s level of funding to be consistent each year as long as your family’s financial circumstances remain consistent. Adjustments in financial aid awards in dollar amount are made based on income, employment, number of children in tuition charging schools, etc.

You may apply for financial aid each year and, depending on the applicant pool, additional financial aid may be available, but it is most prudent to assume that you will not get aid. Financial aid requests for students currently enrolled (but not receiving financial aid) are reviewed after determinations are made for new students and current students receiving aid who have completed all application requirements on time. 

Peddie has exceptionally limited funds available for International Financial Aid. However, all students who complete their application and interview by our deadline of January 15 will be considered for our selective Merit Scholarships. Learn more about affording Peddie.

Peddie offers a select number of merit scholarships. Merit scholars come from diverse backgrounds and locations across the United States and around the world, and are considered for their ability to strengthen all aspects of our community and make the most of their Peddie experience. They possess a passion for learning and embody a commitment to academic excellence, community engagement, curiosity, and character.

Merit scholarships are open to applicants regardless of financial need.

Each student, regardless of financial assistance, is expected to maintain the high personal and academic qualities evidenced at the time of admission to Peddie. Financial aid recipients have no work commitment beyond that of any Peddie student. 

The Financial Aid Committee will take tuition expenses into consideration for all children in schools that charge tuition (excluding graduate school). Peddie requires that families apply for aid at each institution in which they have a child enrolled. Peddie cannot subsidize tuition for other tuition-charging schools.

New students: If the completed financial aid application is received on time, you will receive your financial aid determination with your admission decision on March 10. Late applications will be considered upon completion and those financial aid decisions are dependent on the amount of funds available.

Returning students renewing financial aid applications: If the completed financial aid application is received on time, returning student families will receive award notifications when issued the re-enrollment contract.

Peddie grants means-based fee waivers to students who qualify for financial aid. Financial aid assessments are provided through SSS. If you have questions about this process, please contact financialaid@peddie.org.

If extenuating circumstances are affecting your family’s financial stability, please submit the documentation that outlines these factors as part of your financial aid application.

Parents who return to school or change jobs as a personal choice must realize that a resulting decrease in their family income cannot be underwritten by financial aid from Peddie.

Each parent/family/household, regardless of custodial arrangements, must submit a complete financial aid application.

If you own a business or farm, you must submit tax documentation for partnerships and corporations to School and Student Services (SSS) (IRS Schedule K-1, Form 1065, Form 1120, Form 1120S).

Please submit a detailed letter about any circumstances that Peddie should consider when determining your financial need. Be as specific as possible with dates and figures.