Lake Forest Academy, a renowned college preparatory school in Lake Forest, Illinois, offers students an exceptional educational experience. However, the cost of attending this prestigious institution can be a significant concern for prospective students and their families. This comprehensive guide provides a detailed breakdown of Lake Forest Academy tuition, fees, and financial aid options to help you navigate the financial aspects of this academic journey.
Tuition Costs and Fees
Lake Forest Academy’s tuition for the 2023-2024 academic year is as follows:
| Grade | Annual Tuition |
|---|---|
| Grade 9 | $65,400 |
| Grade 10 | $67,200 |
| Grade 11 | $69,000 |
| Grade 12 | $70,800 |
In addition to tuition, students are responsible for certain fees, including:
| Fee | Amount |
|---|---|
| Application Fee | $75 |
| Enrollment Fee | $1,500 |
| Technology Fee | $400 |
| Student Activity Fee | $250 |
| Boarding Fee (if applicable) | $15,000 |
Financial Aid Options
Lake Forest Academy is committed to making its exceptional education accessible to all students, regardless of financial background. The school offers a generous financial aid program that provides scholarships and grants based on demonstrated need.
Need-Based Financial Aid
Lake Forest Academy determines financial need by evaluating each family’s financial information through the School and Student Service for Financial Aid (SSS) or the Parents’ Financial Statement (PFS). The school considers factors such as family income, assets, and expenses to assess financial need.
In the 2021-2022 academic year, 43% of Lake Forest Academy students received financial aid, with an average award of $42,000. Approximately 12% of students received full financial aid.
Merit-Based Financial Aid
Lake Forest Academy also offers a limited number of merit-based scholarships to recognize outstanding academic achievement, leadership potential, and other exceptional qualities. These scholarships are awarded at the discretion of the admissions committee.
Common Mistakes to Avoid
When applying for financial aid, it is crucial to avoid common mistakes that could jeopardize your eligibility or reduce the amount of aid you receive. Here are some important tips to keep in mind:
- Do not submit incomplete applications. Ensure that all required financial and academic documents are submitted on time.
- Do not estimate your financial information. Provide accurate and complete financial information to ensure a fair assessment of your need.
- Do not expect to receive more financial aid than you need. Financial aid awards are based on demonstrated financial need, not on the amount of money you request.
- Do not rely solely on financial aid. Explore other sources of financial support, such as student loans or private scholarships, to cover the remaining costs of attendance.
FAQs
1. What is the average family contribution for financial aid at Lake Forest Academy?
The average family contribution for financial aid at Lake Forest Academy is approximately $38,000 per year.
2. What are the eligibility requirements for financial aid?
To be eligible for financial aid, students must demonstrate financial need and meet certain academic and citizenship criteria.
3. What is the financial aid application deadline?
The financial aid application deadline for Lake Forest Academy is February 15th.
4. How can I contact the financial aid office?
You can contact the financial aid office at Lake Forest Academy by email at [email protected] or by phone at (847) 615-3288.
5. What is the average ACT score of students who receive financial aid?
The average ACT score of students who receive financial aid at Lake Forest Academy is 33.
6. What is the endowment of Lake Forest Academy?
The endowment of Lake Forest Academy is approximately $250 million.