Financial Aid 2021

Absolutely NOT. Applying for financial aid has no bearing upon the Admission Committee's deliberation and assessment of an applicant's potential as an ‘Iolani student.  Decisions regarding admission to the school and eligibility for financial aid are made independently by the Admission and Financial Aid Committees respectively.

It is our hope that families first evaluate all resources, adjust spending priorities, maximize their earnings, and carefully manage assets before coming to the school for financial aid assistance. The most helpful guideline comes from personal knowledge of your household's finances.

Financial aid is awarded annually to families according to their level of need as determined by ‘Iolani’s Financial Aid Committee, using the standardized calculation derived by School & Student Services by NAIS (SSS) and verified by the required documents.  This system uses the Parent’s Financial Statement (PFS) which considers gross taxable and non-taxable income, assets, liabilities, family size, and number of students in tuition charging schools or colleges.  After an allowance of basic necessities and required taxes, a portion of remaining funds are considered for education. In addition, the availability of funds, academic performance, behavior, and tuition payment history may affect the amount of the award.

Divorce, separation or never marrying does not relieve biological parents from their financial responsibility for their child's education. Thus, 'Iolani School is not bound by existing decrees or arrangements that exclude a parent from financially supporting their child's education. The committee assesses a parent’s ability to pay, not willingness to pay.

‘Iolani requires both parents to apply for financial aid by completing and filing their PFS with SSS, and submitting all required documents by the appropriate deadline. The Committee reviews the financial status of both biological parents and determines the student's need based on the family's ability to contribute. Please know that confidence is strictly maintained.

The school will waive the requirement if the custodial parent can provide verifiable documentation from an official source, such as a family doctor, lawyer, member of the clergy, school official, social worker, employer or other non-related person who is aware of the family situation in a professional capacity, that states the:

a. location of the non-custodial parent is unknown.

b. non-custodial parent has provided no support and has had no contact with the family for at least three years.

c. involvement of the non-custodial parent is not in the best interest of the student and/or custodial parent.

If there are any other extenuating circumstances that might warrant waiving this requirement, written requests may be sent to the Financial Aid Office.

Yes. The addition of another adult into your household generally changes its financial picture to a considerable extent.  In the School's view, your resources and expenses, including those for education, become family resources and expenses, just as those of your new partner become part of the family's financial picture.  We will ask you to complete the PFS together, providing information pertinent to the new family unit and appropriate documents.

No. There are no merit scholarships.  Financial aid is based on demonstrated financial need. At ‘Iolani, the terms scholarship and financial aid are used interchangeably. After an award amount is determined, a family may receive additional notifications of a donor/scholarship that the monies were granted by. This is not additional funding, but rather acknowledging our generous donors.

No. Families apply for general financial assistance and not for individual scholarships. Students receiving awards can be assigned to individual scholarships based on the donor criteria. Those receiving a named scholarship are not awarded additional monies.

Yes, financial aid is recalculated each year using current information. In general, if there is little or no change in family circumstances, a family can expect their award to remain at about the same level, bearing in mind any tuition increase.  Should your need increase significantly, ‘Iolani will endeavor to meet that need. On the other hand, should your need decrease, your award will be adjusted accordingly. 

The total number of children in tuition charging schools, divorce and job change (among others situations) can heavily impact awards. For best planning, you are always welcome to call our office to discuss your specific situation.

No. We encourage all students and families to participate and give back to the school community in ways they find meaningful. 

Yes. We assume that a family applying for aid from ‘Iolani will apply for financial aid from all tuition charging institutions their other children may be attending.  If another school does not have a financial aid program, please note that on your PFS.

No.  The award is a gift to your family from ‘Iolani School funded in part, by the generous donations of our benefactors past and present.  Once your child has completed his/her education and is gainfully employed, it is our hope that your family /child will contribute monetarily to the financial aid program so that others may also benefit.

Yes. Appeals are accepted if new information becomes available. The written request should clearly and specifically state what has changed since the PFS was submitted, and why the applicant should be reconsidered. Please contact the Financial Aid Office for the Reconsideration Form.

Financial aid funds are limited. Once funds are awarded, additional aid during the year may not be available. You are encouraged to contact the Business Office if a financial emergency occurs. We assume that parents who are recovering from a job loss, business failure or other major financial dislocation that has compelled them to request financial aid or additional aid, are also actively addressing their own situation in various ways. Participation in the Tuition Refund Plan (TRP) offered to parents at the beginning of the school year provides a 100% pro-rata tuition continuation benefit in the event of a parent's or legal guardian's death during the school year. In addition, the TRP, underwritten by A.W.G. Dewar, Inc. provides partial financial protection in case of student medical absence, withdrawal or dismissal during the year.

In general, all applicants must be able to complete the SSS Financial Aid application with US tax documents. Please call our office to allow for a more in-depth conversation regarding your specific status and situation.  Financial aid is not available for international students. 

Please visit the Boarding Financial Aid page for more detailed information.