Wealthy parents of children enrolled at an elite private school in New York City could still receive some form of financial aid despite their high income, according to a new report.
According to The New York Times, a Léman Manhattan Preparatory School chart reveals that households making up to $600,000 may qualify for financial support if they have two children enrolled.
Households with a whopping income of up to $800,000 could also receive some form of aid with three children attending the school.
Léman, located in the Financial District of Manhattan, welcomes students from over 70 countries and educates K-12 children. The school charges approximately $67,300 a year for most grade levels.
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Students walk to board a school bus in Manhattan’s East Village in New York City. (Photo by Mario Tama/Getty Images)
“One of the common misperceptions about financial aid at independent schools is that it is only for families who need the most significant amounts of aid,” Paige Murphy, a Léman spokeswoman, told The Times.
Murphy noted that the tuition chart highlighted by The Times offers “transparency” to parents regarding the financial aid process—an aspect of education she suggested has “long been shrouded in mystery.”
The Times noted that Léman is part of a growing trend among private schools in New York City with formidable enrollment costs.
The Dalton School, a private preparatory institution on the Upper East Side, revealed that families earning $40,000 combined with a “low to moderate level of personal assets” may qualify to have their $64,300 tuition cut in half (with two children enrolled).
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New York City is one of the most expensive cities in the world. (iStock)
The associate head of the Chapin all-girls school, Xiomara Hall, told The Times that number “reflects the fact that New York is one of the most expensive cities in the country.”
Despite the high cost of living and goods, affluent parents in New York City are still willing to shell out for an education that boasts small class sizes, professional connections and a chance to attend some of America’s most coveted universities.
“When these kids graduate from college, they will go to their friends’ parents for jobs,” Dana Haddad, a former admissions director, told The Times. “You can’t put a price on that.”
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Fox News Digital reached out to The Dalton School and Léman Manhattan Preparatory School but did not immediately receive responses.