FIT vs. financial aid
Family Individualized Tuition
Family Individualized Tuition allows families from a broad range of economic circumstances to make a customized financial commitment to Gordon.
To determine a FIT price, families provide a succinct Family Financial Overview once every three years. There is a modest annual tuition increase for all families during the years that they do not submit new financial information.
Family Individualized Tuition has come at a time when independent schools are finding that their decades-old tuition models aren't working and people are looking for an authentic, sustainable alternative. Compare the experiences below:
|with FIT:||with financial aid:|
|Timely answers||Families learn their price within ten days of completing an application, engaging with the FIT portal and interviewing.||Families who apply in the fall do not learn their price until March, at the earliest. The first tuition bill could arrive only weeks after a family has learned their price.|
|Long-term planning||Families know their FIT price for three years, and the prices for additional siblings can be easily and quickly projected.||Families are given a price for one year and must reapply each year.|
|Equity, not negotiation||Every families’ price is calculated by the model. There is no negotiation. Two families with the same financial profile would get the same price.||Schools only fund, on average, 60% of the amount recommended by the financial aid process. The balance is left up to the school's discretion and to the families' ability to negotiate.|
|A transparent system||There is total clarity about how prices are determined during the entire journey from Nursery to eighth grade.||When schools do not fund the full need, there is a lack of clarity about how final prices are determined.|
|One community||All families engage in the same tuition system. Prices are set at each family's maximum level.||There are two systems of tuition pricing, one for “full pay families” and another for those “on financial aid."|
|Respectful billing||Every family at Gordon is billed for their individual FIT price in a process that values their full investment and participation in the Gordon community.||Every family is billed the full tuition, with financial aid then subtracted.|