Tuition Discounts (Scholarships, Grants & Financial Assistance)
To help our families meet the costs of a private education, we offer tuition discounts. Preston defines a tuition discount as any credit that reduces tuition from the amount as stated in Section I. For the 2019-20 academic year, tuition is $11,500. Tuition discounts awarded and funded by Preston fall into six (6) categories:
Academic Scholarships (merit-based). Academic scholarships are awarded to incoming freshwomen based upon performance on the TACHS exam and middle school academic records. These are generally 4-year awards as long as a student maintains the minimum GPA and tuition / fees remain current. Academic scholarships cannot be combined with any other Preston-awarded tuition discounts, except the Sibling Discount.
Mother Mary Veronica (“MMV”) Grant (service-based, freshman year only). This grant is awarded to incoming freshman who establish qualifying service during their middle school years. An application, including essay, must be submitted by the posted deadline, generally mid-February, before Registration Day. The MMV grant for 2019-20 is $2,500 and cannot be combined with any other Preston-awarded tuition discounts, except the Sibling Discount.
Financial Aid (need-based). We continue our financial aid program to families of our students which demonstrate need. An application must be made every year for which you seek financial aid; the application can only be made directly from your FACTS tuition account by clicking on the “Apply for Grant & Aid” link on your landing page. For 2019-20, the application deadline for rising upperclasswomen is April 30, 2019 and there is a $40 fee, payable directly to FACTS. An application is not complete and will not be considered without the required 2018 tax documents (Federal and State returns and W-2 wage statements). If your tuition is in arrears as of April 30, your application will be rejected automatically.
For incoming freshwomen (Class of 2023), the deadline is December 31, 2018.
There is no way to determine in advance if you will receive financial aid, since we consider individual factors, extenuating circumstances, availability of funds, and the number of families applying for aid. You will be notified directly by the School by no later than Wednesday, May 15, 2019 in either case, i.e., whether we have granted an award or your application is rejected. The award will be posted to your FACTS tuition account by the end of May in time for your June 2019 installment payment. Financial Aid cannot be combined with any other Preston-awarded tuition discounts, except the Sibling Discount.
Legacy Discount. Students whose mother, grandmother, or legal guardian is a Preston graduate are eligible to receive a $1,500 discount. The Legacy Discount cannot be combined with any other Preston-awarded tuition discounts, except the Sibling Discount.
Archdiocesan (ADNY) Employee Discount. Students whose parent or legal guardian is employed by the New York Archdiocese are eligible to receive this discount, $1,500 for a full-time teacher and $750 for any other Archdiocesan employment. Proof of full-time employment in the ADNY must be submitted for the academic year. Proof is defined as an original letter on letterhead from the Principal, or the equivalent, and a copy of the most recent employee paystub. The ADNY Employee Discount cannot be combined with any other Preston-awarded tuition discounts, except the Sibling Discount.
Sibling Discount. Families with more than one daughter attending Preston during the same academic year are eligible to receive a $750 discount for each additional sibling. The discount will be applied to the tuition account of the eldest sibling and will remain in effect until the withdrawal or graduation of the eldest sibling.
External scholarships include, but are not limited to, Inner City Scholarship (e.g., Be A Student’s Friend, The High School Award, Christine and Stephen Schwarman Scholars, Gilhooley Scholarship, Kids Are Our Capital, Emergency Tuition Assistance), Bronx Charter School for Excellence Award, Community Connections Scholarship, Student Sponsor Partners, Columbus Citizens Foundation Award, and the Tri-State Italian-American Scholarship.
The sum of tuition discounts, both Preston-awarded and external third-party, cannot exceed the amount of tuition, $11,500 for 2019-20. In the event the combined tuition discounts exceed tuition, then Preston will reduce its award(s) accordingly. At a minimum, the family is fully responsible for the general and all other fees. In most cases, Preston is required to report your total tuition assistance to third-party foundations, in accordance with the terms of your scholarship. This may result in the reduction of one or more of your awards so that the total assistance does not exceed the tuition portion of your total tuition and fees.
In most cases, Preston is required to report your total tuition assistance to third-party foundations, in accordance with the terms of your scholarship. This may result in the reduction of one or more of your awards so that the total assistance does not exceed the tuition portion of your total tuition and fees.