Vermont Academy has always been committed to making our school accessible to a wide range of students and families. To that end, we offer over 3 million dollars in financial aid and merit scholarships to over 50% of our students each year.
In the video below, Director of Enrollment Management Mr. Warren Samuels explains in detail how financial aid is determined at Vermont Academy. Use the links below the video to learn more about scholarship opportunities.
The financial aid policy at Vermont Academy primarily considers financial need in addition to school enrollment goals and student body composition when making financial aid awards. We partner with School and Student Services to determine a family's financial need. Families are asked to submit the Parents’ Financial Statement (PFS), which details family information, income, and expenses. These awards are reviewed annually and are contingent upon continued demonstrated need, as well as good academic and social standing. Financial Aid applications are due February 1st. Applications received after that deadline will be reviewed and awarded based on the space and aid available. Financial Aid awards cover tuition, room, and board. Transportation, books, and other fees are the responsibility of the family. See below for fee details.
The Vermont Scholars program is a merit scholarship program for students who live in Vermont. The program features a merit scholarship of $15,933, which is the average tuition of 7th-12th grade school students published by the State of Vermont.
is a merit scholarship (there is no consideration of financial need)
will be awarded for up to four years
reduces the 2020-2021 tuition for day students to $16,717
reduces tuition for boarding students to $44,657.
Families living in sending/tuition towns will further reduce tuition by the amount of their town’s contribution, which could cover most if not all of the remaining day-student tuition or a significant portion of boarding tuition.
First Flag Merit Scholarships for International Students
Vermont Academy’s dining hall is populated with flags of countries which have been represented by Vermont Academy’s students now and in the past. Each year we have a flag ceremony in which we raise any flags for students who represent a new country.
Vermont Academy offers awards to highly qualified students who come from under-represented or first-time countries. To apply for a First Flag Merit Scholarship, simply complete the admissions process. Scholarships will be awarded based on merit and applicant pool composition.
Domestic students: A non-refundable enrollment deposit of 10% of the total tuition, less any financial aid award, is due by the date stated in the Reservation Agreement. The deposit will be counted toward the outstanding tuition balance.
International students: A non-refundable enrollment deposit of 10% of the total tuition plus a $2,950 International Student Fee is due by the date stated in the Reservation Agreement. Students from China must pay a non-refundable enrollment deposit of $10,000 plus a $2,950 International Student Fee by the date stated in the Reservation Agreement. The deposit will be counted toward the outstanding tuition balance. International families must pay the tuition in full before or on July 15.
An International Student Fee of $2,950 is required of all international students. It is non-refundable and helps to defray expenses incurred during enrollment and immigration processing, as well as other costs and expenses associated with the international program. The fee must be paid with your deposit.
We use Smart Tuition for tuition and incidental billing; our international families can use Smart Tuition as well, because the service accepts international payments through peerTransfer ®. This streamlines the process of international tuition payments; peerTransfer® allows you to pay securely from any country and any bank, generally in your home currency. By making your payment through Smart Tuition using peerTransfer ®, you can:
Track your payments from start to finish
Save on bank fees and exchange rates
Contact their multilingual customer support team with any questions, day and night
February 1 is the date all paperwork must be received by the Admissions Office in order to be considered in the first round of applications, after which we are on “rolling admissions,” or a space-available basis. If forms are received after this date, we cannot guarantee that the file will be reviewed before our decision letters and reservation agreements are mailed on March 10. April 10 is the due date for the return of reservation agreements and deposits.
Smart Tuition is Vermont Academy’s third-party biller. Participation in Smart Tuition is compulsory for all families, and there is an annual fee of $50.
You can view statements of tuition, incidental fees, and payments on your Smart Tuition account. You can make payments in a variety of ways, and schedule how you want to receive invoices (email or mail). It is expected that all accounts are paid and up to date on or before the 25th of each month. A late fee of $45 will be assessed on all accounts not paid within these terms. An additional monthly finance charge of 1.5% may apply on all unpaid balances thereafter.
At Vermont Academy, we are committed to a complete education for each student, and part of that education is the ability to budget funds as well as time. We believe the Student Spending Account (SSA) gives students a valuable experience with handling money and, at the same time, allows you control over your student’s spending while at school.
The SSA is based on facial recognition in our point-of-sale system as well as the student ID card. Purchases and withdrawals can be made as long as there is a sufficient balance in the student’s debit account; students should always have their ID cards ready to show.
The Vermont Academy SSA can be used to make purchases at the School Store, which may include clothing, personal items, school and athletic supplies, drinks and snack foods at the VA Café, and supplementary classroom reading materials.
Parents/guardians are able to set limits on how much the student has available to spend on School store purchases and bank withdrawals. These maximums are set as weekly restrictions. Within the parameters set by their parents, students are able to make weekly withdrawals in the SSA for allowance, weekend trips, etc. If no restriction is set, a maximum withdrawal of $40/week will be allowed. Restrictions may be changed at any time during the school year by emailingemailing Candy Chaples or calling 802-869-6804.
Miscellaneous charges for participation in special events, athletics and student fundraisers are also processed through the SSA.
Parents will be responsible for viewing purchases made and funding this account through the online portal of MyKidsSpending.com. If there are insufficient funds in the student’s account, the transaction may not be allowed. If the account becomes negative, a check, cash, or credit card will be required at the time of sale.
Vermont Academy Health Services provides comprehensive health care to students, including 24-hour nursing coverage as well as an on-site medical clinic, counseling, and athletic training services. Students are required to possess domestic health insurance coverage that will reimburse preventive as well as emergency care in Vermont and New Hampshire. International students are required to purchase United Health Care insurance managed by the Academy. Parents are ultimately responsible for all charges. Charges may include: prescription drug costs and fees associated with packaging of medication, transportation to appointments, counseling services, medical supplies, and overnight nursing care. Charges are billed at the cost to provide the service. For more information and questions, contact Vermont Academy Health Services.
Vermont Academy has the majority of its budget committed by early September of the school year and, therefore, must follow a policy of not granting refunds of tuition or fees unless the Tuition Insurance Plan (TIP) is purchased.
Parents/guardians are obligated to pay Vermont Academy’s full tuition (installment payments do not constitute pro-rated contracts) and other charges, even if a student is withdrawn or dismissed. The education experience of most students at Vermont Academy is not interrupted, but withdrawal or dismissal may, of course, occur. In the past, when it has occurred, the reasons have included:
Accident or sickness of student
Family financial reversal
Vermont Academy provides TIP to safeguard the investment of parents/guardians and lessen financial hardship. The plan credits 50 percent of the unused tuition upon a student’s separation from Vermont Academy*. This is a non-refundable, non-prorated premium.
The academic year upon which refunds are based consists of 263 consecutive calendar days (including weekends, holidays and vacations) commencing with the first day of the formal academic instruction, September 5, 2019, and ending on the last day of the academic year, May 25, 2020.
TIP costs 5 percent of adjusted tuition (tuition less VA financial aid).
TIP is optional although recommended for all families paying full tuition by July 15th.
TIP is compulsory for families opting for any of the payment plans we offer.· TIP is required on town-paid tuition regardless of how the remainder of the tuition is paid.
*except: (1) war or act of war, (2) insurrection, rebellion, riot, or civil commotion, (3) any nuclear reaction, (4) epidemic disease,(5) destruction of the physical facilities of the school, or (6) closure of the school.