We believe that a Wayland Academy education should be accessible to students of all backgrounds — regardless of their families' financial means — and the school commits more than $3.5 million each year to that commitment.
The purpose of Wayland’s financial aid program is twofold: to assist families whose only barrier to a Wayland education is the cost of tuition, and to enhance the entire student body through socioeconomic, cultural and geographic diversity.
Wayland Academy offers financial aid to families from a wide range of income levels, and we encourage families to apply for financial aid if they believe they need any level of support.
Wayland’s financial aid program is designed to support our commitment to helping families afford the cost of tuition. Financial aid is granted to families based on need, as determined by the SMARTAID and is limited by Wayland’s financial resources.
SmartAid provides an objective and consistent method to determine a family’s ability to contribute to educational expenses. The process starts when you complete the online application, followed by submitting your tax return and W-2’s to Wayland. Wayland gathers family and financial information that it applies to a formula to estimate the resources your family may have available to pay school costs. Simply stated, the formula considers your income, what you own (your house and other investments), what you owe (your mortgage and other debts), the size of your family, and how many family members are enrolled in tuition-charging schools or colleges.
After making allowances for basic necessities, taxes, and certain other expenses, SMARTAID figures out what portion of your remaining funds is available to pay school costs. Then the service provides the results of the analysis as a recommendation of your ability to cover expenses at Wayland.
SMARTAID encourages schools to use this estimate in addition to other information they collect from your family to make their final determination about your family's contribution.
Financial aid amounts vary per a family’s ability to pay and the school’s financial resources. We typically are able to meet at least a portion of the amount needed, as determined by SMARTAID, but generally not the full amount recommended.
In most cases, Wayland can make awards throughout the school year. That said, sometimes in June or July, we may learn that students who were given financial aid are not enrolling after all, and extra dollars become available. It’s always worthwhile to ask the Admission Office, just in case!