When you make a gift to financial aid, you help create stability for SYA’s financial aid budget and begin to build future capacity for a much stronger program. In the meantime, you will make it possible for a young person to step into the adventure of a lifetime today. In ways large and small, SYA students go on to influence countless professions, families, communities and nations. The ripple effect of your financial aid gift is therefore priceless and immeasurable.
Endowed Funds for Financial Aid
At SYA, we believe that excellence in education is achieved through the participation of talented, motivated students from all walks of life. A rich exchange of ideas and perspectives is the very essence of SYA. Yet today only a relatively small percentage of families can afford full tuition at SYA, and robust financial aid has become an absolute enrollment necessity.
In recent years, nearly 50 percent of our families have received approximately $3.5 million in financial aid grants annually. The average award is usually 50 percent of tuition costs, or approximately $28,000 in 2018-2019. With the exception of the endowed Halsey Fund, our financial aid funds come from the SYA operating budget and are dependent upon tuition revenue, SYA Fund gifts and member school contributions.
Member schools contribute roughly $1 million per year, which is used to assist their students who need financial aid to attend SYA. As described earlier, member schools no longer have the unquestioned luxury of sharing their financial aid dollars. In addition, more than 50 percent of our students come from other schools where there is no contribution toward financial aid. Yet SYA values and will seek to enroll more students from public and other independent schools around the country. Given all of these economic realities, SYA needs strong, independent financial aid resources.
Our ultimate aim is to increase the percentage of aid we are able to offer each family as well as the total number of students who receive aid. Through The Campaign for SYA, we take our first critical step toward this ambitious goal.
The Rocket Fund for Financial Aid
In order to enroll deserving SYA students sooner than later, and during the time that financial aid endowment funds are raised and fully invested, we will dedicate immediate-use gifts above and beyond what is available from the operating budget to support applicants for whom SYA is out of reach without financial assistance.