Bancroft School announces large tuition cut

• Posted by Worcester News January 11, 2023 - Filed in News - #Worcester  #Bancroft School  - 5,597 views

  Bancroft School Announces Substantial Tuition Reset to Enhance Access and Affordability

  

  Bancroft School

  Reductions of up to 15% in 2023-24 school year

  WORCESTER – To expand access and affordability for families seeking high-quality, personalized student learning opportunities, Bancroft School announced a reduction in the cost of tuition in most grades by up to 15% for the 2023-24 year. This historic decision comes with the unanimous support of the school's Board of Trustees and marks the first major price reduction for the nearly 125-year-old Pre-Kindergarten to Grade 12 independent day school. 

  In a letter to the school community announcing the tuition reset, Bancroft School Board of Trustees President Catherine Colinvaux and Interim Head of School Tim Saburn emphasized that the action advances the priorities of the School's strategic plan, BluePrint125, which calls for developing and implementing policies to expand student diversity, promote student retention, and invest in the community while ensuring fiscal sustainability. 

  "Reducing tuition is one significant step toward inviting more students and families to consider Bancroft's distinctive approach to inquiry-based teaching and learning as a path to growth and opportunity," said Colinvaux. "It also comes at a time of economic uncertainty for many in our community who continue to aspire for the very best for their children. We want to remain the first and best choice for these families in Central Massachusetts."

  Bancroft School has had strong governance, planning, and financial management in recent years that allows for this mission-driven action. The decision to disrupt the traditional model of annual tuition increases and draw on other revenue sources to meet expenses while engaging in longer-term planning is responsive to current local and national economic conditions affecting families. It also furthers Bancroft's commitment to expand access and opportunities for highly driven students to consider Bancroft.  

  "This new pricing structure enables us to advance our community values by strengthening our partnership with our current families and welcoming even greater levels of motivated, diverse learners to Bancroft, which is fundamental to our educational philosophy and mission," said Saburn. "Without question, we benefit as a learning community by having individuals with a wide range of experiences and perspectives, which is only possible through a thoughtful approach that recognizes the distinct financial needs of students and families."

  To lower tuition rates in the coming year while ensuring a continued commitment to academic excellence, personalized instruction, and a supportive community, the school will draw from cash reserves initially and seek gradual, targeted enrollment growth over time. Even as the tuition is reduced, there will continue to be a robust financial aid program to make it possible for admitted students from families with demonstrated financial need to enroll at Bancroft School.

  "Through careful financial and strategic planning, we're so pleased to be able to reduce financial barriers that may affect the educational choices families make," said Colinvaux. "This allows us to offer the opportunity of a Bancroft School education to increasing numbers of talented and motivated students who, in turn, will contribute to our vibrant learning community."

  The timing of the school's announcement ensures families have complete information as they consider educational options for the 2023-24 school year. To learn more about a Bancroft School education, visit www.bancroftschool.org or contact the admission team at 508-853-2640.

  For complete 2023-24 tuition information, click here.

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