How We Finance Your Student’s Education
Providence St. Mel is a private, independent institution that does not receive financial assistance from any state or federal agency. We offer a rigorous college preparatory opportunity at a fraction of the education cost per student. All students receive some level of financial assistance at PSM, as the average cost to educate per student at PSM exceeds $15,000. This cost is underwritten by donor, corporate and foundation support.
Providence St. Mel does grant additional merit-based scholarships and financial aid to assist with the tuition for families. We must fundraise more than $4 million per year to underwrite the balance of your child’s tuition. Remember, we are here to support your child’s well-being through education. We are confident that when a student graduates from PSM, he or she will have the academic ability, self-discipline and foundation to succeed in college and compete in today’s global community!
Financial Assistance Awards
Merit-Based Academic Scholarships:Funds are granted to a family based on the student’s academic benchmarks. Factors considered include one or more of the following: standardized test scores, grade point average, and/or the results of an interview process.
Need-Based Financial Aid: – Funds are granted to a student based on the family’s financial profile. Providence St. Mel uses an independent, third party service that gives summary information about your finances and obligations. Students/families receiving need-based aid must provide documentation of family income, assets and liabilities, and projections for the following year, and may including special circumstances. The information from the application is calculated into a formula that generates specific need calculations for that family. Based on this information, PSM finalizes an award, if you qualify. The funding does not come from the 3rd party service, but from Providence St. Mel School.
Providence St. Mel School are partners with the following scholarship foundations:
|Daniel Murphy Scholarship
|HFS Chicago Scholars
|Link Unlimited Scholarship
“Invest in Kids” Scholarships
Beginning in late January 2018, parents can apply for scholarships through an Illinois-approved “Scholarship Granting Organization.” This scholarship can cover 50-100% of your child’s tuition at Providence St. Mel School based on your household income.
For more information about requirements for the program, please visit http://www.revenue.state.il.us/InvestInKids/School.htm
You will need to provide Providence St. Mel’s RCDT code to ensure you are applying for the correct scholarship.
PSM’s RCDT code is 15016072Z01.
For information about Scholarship Granting Organizations, you can contact them directly through the following links:
Big Shoulders Fund
Application Available: January 22
Application Available: January 31
HighSight Scholarship Foundation
Students must be registered at PSM to finalize both merit based and need based financial aid awards.