William Penn Charter School maintains a substantial financial aid program that makes it possible to attract a diverse and talented student body. In the 2007-2008 school year, the school awarded almost $4million in financial aid. One-third of families at the school receive some amount of financial assistance, and financial aid represents 18.5 percent of the school's budget.

Need-Based Financial Aid
Financial aid at Penn Charter is based on need: the difference between the family's resources and the child's tuition expenses. Because demand for aid exceeds our resources, and in order to give financial assistance to more families, we cannot meet all demonstrated need. Every family applying to Penn Charter should expect to pay a portion of the expense.

Evaluating Need
To evaluate need, Penn Charter uses formulas created by the School and Student Service for Financial Aid (SSS) in Princeton, N.J. Parents applying for financial aid must complete the Parents' Financial Statement (PFS) and send it with a processing fee to SSS. The service will send Penn Charter a Report of Financial Need (RFN); parents are required to send Penn Charter copies of W-2 forms or yearend pay stubs plus completed 1040 tax forms.

Allocating Financial Aid
A family's need for financial aid does not influence the admission process: Admissions decisions are made separately from and prior to financial aid decisions. The priorities for offering financial aid to families are: (1) returning families already receiving aid, (2) returning families requesting aid, and (3) new families. Note: In 2007-2008, financial aid will not be available for new families applying only to grades 1 through 5.

The Application Process
Applicants should indicate their interest in financial aid in the application for admission, and Penn Charter will send the necessary forms beginning in December. Online or on paper, families complete the Parents' Financial Statement, estimating income figures from the previous year so that the form can be processed and a report sent to the school as soon as possible. (As noted above, a tax return, plus W-2 forms or a yearend pay stub also must be sent directly to the school.) Click here for more complete instructions and advice.

Important Dates
Because funds are limited, it is crucial that families meet all financial aid application deadlines. Penn Charter supplies families with the materials in December and recommends completing the Parents' Financial Statement as soon as possible. The Financial Aid Committee begins to review requests in January. Returning families should submit tax returns plus W-2 forms or a yearend pay stub Feb. 1. New families should submit these forms as soon as possible so that financial aid decisions can be made immediately following admissions decisions, which begin in January.

For an application and or additional information, please contact the Admissions Office at 215-844-3460 ext. 103.