Individualized Family Tuition Case Studies
At LCS, we place Community First and the school is committed to forging a lasting connection with families, regardless of their financial means.
Every family’s financial situation is unique. There are many factors that contribute to the affordability of an independent school education, from the number of children, annual income, debt, housing expenses and vehicle purchases, to personal and retirement savings. Personal lifestyle and discretionary spending purchases are also taken into account. LCS works to support deserving families with its tuition management funding.
Planning for Future Costs
Lakefield College School is committed to providing consistent tuition assistance from year to year – provided a family’s financial circumstances remain relatively unchanged. If your financial situation shifts significantly, the school will work to adjust support accordingly: increasing assistance in the case of unexpected hardship, or reducing it if a family’s capacity to contribute improves.
It’s important to note that tuition assistance does not automatically increase in line with annual tuition fee adjustments. We encourage families to take this into account when planning for the full duration of their child’s time at LCS.
In the fictional case studies listed below, annual income levels are reported using gross, pre-tax salaries. Determining a family’s level of need involves careful analysis. In order for a funding amount to be determined, all families seeking tuition management assistance are required to complete an Apple Financial Services application, which is reviewed by the LCS Tuition Management Committee.
To help fund tuition and related costs, families often use a blend of:
- Personal contributions and savings
- Needs-based tuition assistance
- Entrance Awards of Distinction
- Support from extended family
- Employer tuition support
Planning for Future Costs
Lakefield College School is committed to providing consistent tuition assistance from year to year – provided a family’s financial circumstances remain relatively unchanged. If your financial situation shifts significantly, the school will work to adjust support accordingly: increasing assistance in the case of unexpected hardship, or reducing it if a family’s capacity to contribute improves.
It’s important to note that tuition assistance does not automatically increase in line with annual tuition fee adjustments. We encourage families to take this into account when planning for the full duration of their child’s time at LCS.
In the fictional case studies listed below, annual income levels are reported using gross, pre-tax salaries. Determining a family’s level of need involves careful analysis. In order for a funding amount to be determined, all families seeking tuition management assistance are required to complete an Apple Financial Services application, which is reviewed by the LCS Tuition Management Committee.
Examples of Family Situations
List of 2 items.
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Day Families: Tuition of $42,100
ALEX and MORGAN's oldest child is applying to Lakefield College School, while their youngest attends a public elementary school.
Financial Snapshot- Combined income: $185,000
- Mortgage remaining: $550,000
- Consumer debt: $10,000
- Investments: $100,00
- Tuition assistance: $20,000
- Family contribution: $22,100
CAMILLA and SEBASTIAN have three children. Their twins are applying to LCS, and their eldest is currently attending university..
Financial Snapshot- Combined income: $300,000
- Mortgage remaining: $120,000
- Retirement savings: $250,000
- University costs for eldest child: $22,000 annually, with $10,000 covered by a Registered Education Savings Plan
Tuition Assistance- Tuition assistance: $20,000 (or $10,000 per child)
- Family contribution: approximately $65,200 (or $32,100 per child)
Note: If only one child were applying to LCS, the family would not qualify for tuition assistance.
EMILY and JON have one child applying to Lakefield College School.
Financial Snapshot- Combined income: $220,000
- Mortgage remaining: $300,000
- Consumer debt: None
- Investments: $660,000
- Additional savings: Monthly contributions to defined pension plans
- Recently purchased a new vehicle with no debt
Tuition Assistance- This family does not qualify for tuition assistance.
- Family contribution: approximately $42,500
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Boarding Families: Tuition of $77,200
HANA is a single parent with sole custody of a child applying to LCS as a boarding student.
The child’s father is not responsible for contributing to education costs, as per the separation agreement.
Financial Snapshot- Income: $155,000
- Mortgage remaining: $115,000
- Consumer debt: 12,000
- Retirement savings: $30,000
Additional Support- Grandparents have committed to contributing $12,000 toward tuition
Tuition Assistance- Tuition assistance: $50,000
- Family contribution: approximately $27,200 (reduced to $15,200 after grandparent contribution)
NOOR and AMIR have one child applying to LCS as a boarding student.
Financial Snapshot- Combined income: $257,000
- Mortgage remaining: $375,00
- Retirement savings: $100,000
- Enrolled in a defined benefit plan
- Tuition assistance: $23,000
- Family contribution: approximately $54,200
CHLOE and KAI have three children. One is applying to LCS, another is beginning university, and their youngest attends public school.
Financial Snapshot- Combined income: $350,000
- Mortgage remaining: $150,000
- Retirement savings: $80,000
- University costs for eldest child: $20,000
Tuition Assistance- Needs-based tuition assistance: Not eligible
- Entrance Award of Distinction: $7,500 one-time, non-renewable award. This applicant was one of three students selected based on a highly competitive process and a compelling application showcasing exceptional artistic talent.
- Family contribution: approximately $72,200
School Information
4391 County Road 29, Lakefield Ontario K0L 2H0 705.652.3324 admissions@lcs.on.ca
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Lakefield College School is a private, coeducational boarding and day school for students in grades 9 through 12, located in Lakefield, Ontario, Canada.
We respectfully acknowledge that Lakefield College School is located on the Treaty 20 Michi Saagiig territory and in the traditional territory of the Michi Saagiig and Chippewa Nations, collectively known as the Williams Treaties First Nations, which include: Curve Lake, Hiawatha, Alderville, Scugog Island, Rama, Beausoleil, and Georgina Island First Nations. Lakefield College School respectfully acknowledges that the Williams Treaties First Nations are the stewards and caretakers of these lands and waters in perpetuity and that they continue to maintain this responsibility to ensure their health and integrity for generations to come.
We respectfully acknowledge that Lakefield College School is located on the Treaty 20 Michi Saagiig territory and in the traditional territory of the Michi Saagiig and Chippewa Nations, collectively known as the Williams Treaties First Nations, which include: Curve Lake, Hiawatha, Alderville, Scugog Island, Rama, Beausoleil, and Georgina Island First Nations. Lakefield College School respectfully acknowledges that the Williams Treaties First Nations are the stewards and caretakers of these lands and waters in perpetuity and that they continue to maintain this responsibility to ensure their health and integrity for generations to come.
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