Wealthy parents of children enrolled in an elite private school in New York City can still receive some form of education financial assistance despite their high incomes, according to a new report.
According to The New York Times a Léman Manhattan Preparatory School chart shows that households earning up to $600,000 can qualify for financial assistance if they have two enrolled children.
Households with as much as $800,000 can also receive some form of assistance if they have three children in school.
Located in Manhattan’s financial district, Léman welcomes students from more than 70 countries and educates primary and secondary school children. The school charges about $67,300 per year for most grade levels.
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Students walk to a school bus in Manhattan’s East Village in New York City. (Photo by Mario Tama/Getty Images)
“One of the common misconceptions about financial aid at independent schools is that it is only for families who need the largest amounts of assistance,” Paige Murphy, a spokeswoman for Léman, told The Times.
Murphy noted that the tuition schedule highlighted by The Times provides “transparency” to parents regarding the financial aid process — an aspect of education that she said has “long been shrouded in mystery.”
The Times noted that Léman is part of a growing trend among private schools in New York City with formidable registration costs.
The Dalton School, a private preparatory institution on the Upper East Side, revealed that families earning $40,000 combined with a “low to moderate level of personal assets” could qualify for their $64,300 tuition to be cut in half (by two children registered).
New York City is one of the most expensive cities in the world. (iStock)
The deputy principal of the Chapin Girls’ School, Xiomara Hall, told The Times that this figure “reflects the fact that New York is one of the most expensive cities in the country.”
Despite the high cost of living and goods, wealthy parents in New York City are still willing to spend money on an education with small classes, professional connections and a chance to attend some of America’s most coveted universities.
“When these kids graduate, they go to their friends’ parents for jobs,” Dana Haddad, a former admissions director, told The Times. “You can’t put a price on that.”
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Fox News Digital reached out to the Dalton School and Léman Manhattan Preparatory School but did not immediately receive responses.
