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. While there is no one-size-fits-all family financial exemplar, the following fictional personas were created to illustrate basic overviews of possible personal family financial situations leading to enrolment.

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.

  • Day Families: Tuition of $35,000

     ELIAS AND JUSTINE have one child applying to LCS and another child attending a public elementary school

    • Elias and Justine both work and have a combined income of $80,000
    • The mortgage remaining on their home is $265,000
    • They are holding $40,000 of debt
    • Their retirement savings total $15,000
    • It is estimated that LCS would provide $27,750 in funding for their child
    • Tuition for Elias and Justine would total approximately $6,950
    HEATHER AND SIMONE have three children. Two of their children are applying to LCS and their third child is currently in university.

    • Both Heather and Simone work and have an annual income of $225,000
    • They currently have a $65,000 mortgage remaining on their residence
    • Their retirement savings amount to $250,000
    • The costs associated with undergraduate university programming for their oldest child is approximately $20,000; however, $10,000 of this expense is covered by their Government of Canada Registered Education Savings Plan
    • It is estimated that LCS would provide $15,000 (or $7,500 per child) in funding for their two children applying to LCS
    • Tuition for Heather and Simone would total approximately $54,400 (or $27,000 per child)
    • If only one of their children applied to LCS, the family would not qualify for tuition assistance
    ALLYSHA AND MIKE have one child that is applying to LCS
     
    • Allysha and Mike both work and have a combined income of $155,000
    • The mortgage remaining on their residence is $115,000
    • They are holding $25,000 of debt
    • They have $55,000 of investments and contribute monthly to a defined pension plans
    • It is estimated that LCS would provide $7,500 in funding for their child
    • Tuition for Allysha and Mike would total approximately $27,200
  • Boarding Families: Tuition of $63,000

          CHRISTOPH is a single parent with sole custody of a child applying to LCS as a boarding student

    • The child's mother is not responsible for contributing to her child's educational expenses, as outlined in the separation agreement
    • Christoph earns an income of $115,000
    • The mortgage remaining on his residence is $180,000
    • He has $10,000 in retirement savings
    • Christoph's parents (i.e. grandparents) have committed to contributing $10,000 towards their grandchild's LCS education
    • It is estimated that LCS would provide $45,000 in funding for the child applying to LCS
    • Tuition for Christoph would total approximately $20,000 (with $10,000 being provided by grandparents)
    ALEAH AND MATTHEW have one child applying to LCS as a boarding student
     
    • Aleah and Matthew both work and have an annual income of $245,000
    • The mortgage remaining on their primary residence is $375,000
    • They have retirement savings of approximately $100,000 and have a defined benefit plan
    • It is estimated that LCS would provide $20,000 in funding for their child applying to LCS
    • Tuition for Aleah and Matthew would total approximately $45,000
    YUMEI AND YUAN have three children. One is applying to LCS, one is entering university and their youngest is attending public school
     
    • Both Yumei and Yuan work and have an annual income of $365,000
    • The mortgage remaining on their residence is $475,000
    • The costs associated with undergraduate university programming for their oldest child is $20,000
    • They have retirement savings of $150,000
    • It is estimated that LCS would provide $5,000 in funding for their child applying to LCS
    • Tuition for Yumei and Yuan would total approximately $60,000
 
For a comprehensive overview of the tuition assistance process and a helpful all-in-one resource that provides answers to many of the most pressing tuition-related questions families have, you are encouraged to download a copy of An Insider’s Guide to Tuition Assistance.

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.

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