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Dear All, I apologize for the length of this letter, but it contains important information that I hope you will find of interest and use. And, as always, if you have questions or would like clarification, I am happy to speak to you personally. We know that with the recent change in tuition, many of you have become concerned about the affordability of Rockwern. First, the size of the recent increase was a onetime occurrence, and future increases will be tied to cost of living increases. Second, and more importantly, we want to tell you about a new tuition model for K – 8 families and a Mutli-Child Preschool Tuition Discount for preschool families. Both have significant implications for affordability.
Preschool Because of the different financial model preschools including ours operate on, we cannot offer families traditional financial aid or, at this time, flexible tuition plans. That said, we recognize the cost that a high quality program such as we offer puts a burden on families, particularly those with more than one preschool age child. To help those families we are offering the following: Preschool families who have more than one child in preschool will receive a 10% discount off the tuition for the 2nd child, a third child, or any children above this number, will receive a 15% discount off tuition for that child and other children. Please note that the 1st child receives no discount and that children in K and up do not count in figuring the discount; our multi-year flexible tuition program takes into account the expense of having a child or children in preschool and in the upper grades. You do not have to do anything to qualify for this discount; our business office will calculate the discount based on the number of your children and the options you choose; however; if you do not want to use the discount, please see me to discuss ways you may help the school while improving your tax filing profile.
K and Up The affordability of K – 8 Jewish day schools is an issue throughout North America. While families at Rockwern who are in the top 15% earnings category for Cincinnati can afford to send multiple children to school, and while families in the lowest 25% earnings category qualify for traditional financial aid, the remaining 60% of Rockwern’s families --- Cincinnati’s Jewish middle class --- are forced by financial pressures to constantly reevaluate their commitment to Jewish day school education for their children. While many of these families might qualify for financial aid, few even apply, often preferring to leave Jewish day schools rather than discuss financial aid options. Many middle class families do not apply because: Financial aid systems are labor intensive and often don’t take into account factors such as family decisions regarding saving for future needs and other financial obligations. The process must be repeated yearly, leading to uncertainty about being able to afford education in 2 – 3 years. The whole process can have a “poverty” connotation. Families fear that they may not receive an award, or if they receive one this year they may not qualify in subsequent years. Flexible Multi-Year Tuition is designed to address these issues and the school’s need to balance its budget and retain families in a way that is fair to both. Our goal is that families who want a Rockwern education should be able to afford that education without stigma or undue sacrifice, and that they should be able to do so in a way that allows them and the school to plan for the future. Both families and the school can plan their finances in a more long-range manner, leading to a win-win situation. Key features of such a system are: While sharing some features of traditional financial aid, FMYT gives the school the ability to take into account each family’s particular circumstances, including lifestyle and future plans such as a larger family or the need to begin saving for college. For middle class families, FMYT sets that family’s tuition as a fixed percentage of the current stated tuition for 2 – 3 years; this means that when tuition increases it does so in a proportional fashion as a percentage of that family’s stated tuition. For such families, the percentage is set by looking at the school’s Average Total Cost per student(ATC) and that family’s financial ability in order to strike a balance that allows the school to cover ATC and for the families to be comfortable with their financial decision. By the end of February we will have a process in place that will make accessing FMYT as smooth and simple as possible. Part of the process will be a standard financial aid application, which is already on-line and can be accessed by visiting the school website at www.rockwernacademy.org. We know that such forms are not a pleasure to fill out, but this new system has been streamlined and you will not need to repeat the process yearly. If your family intends to avail itself of the new program, please begin that application on-line now and send me an email (pecline@rockwernacademy.org) to let me know that you wish to avail yourself of this new program; as always, any financial information you share with the school will be treated with the utmost confidentiality. Finally, I would like to thank you on behalf of the school’s leadership for being part of our community. You are Rockwern and our goal is that you continue to be part of our community. We are committed to exploring every avenue to maintain and grow our excellence, create affordability, and maintain your connection with our school community. I know all of the changes have been somewhat distressing for some families. I just hope that we all remember that all the changes made in recent months are part of a strategic business plan to keep Rockwern sustainable for the long-term despite a continuing, difficult economy.
As always, my best to you and yours,
Peter