St. Michael's Episcopal School

Tuition & Financing

Investing in Your Child's Future

Investing in a St. Michael’s Education

A St. Michael’s education is a major investment in your child’s future. It is also a commitment of a family’s resources. We understand this and are committed to making our outstanding independent school experience affordable to families. You will find that while the quality of our program is high, our tuition is lower than other Richmond independent schools of our caliber.

As an independent school, St. Michael’s is supported by tuition, fees and charitable gifts. Tuition covers approximately 90% of the cost of a St. Michael’s education, with the balance funded through tax-deductible Annual Giving and other sources. St. Michael’s parents recognize that Annual Giving and periodic capital campaigns are an essential part of their commitment to St. Michael’s School and give generously every year.

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How Do We Maintain St. Michael’s Affordability?

St. Michael’s has a long history of prudent financial stewardship. As a K-8 school, we do not have to carry the high costs and broad offerings of high school AP classes and faculty. Additionally, we invest in tried and true educational programs and proven practices versus chasing trendy educational or organizational philosophies.

Financing Options and Payment Plans

Financing Your Child’s Education

St. Michael’s provides families with a variety of financing options, including payment plans and financial assistance.

Payment Plans

PAYMENT PLAN I PAYMENT PLAN II PAYMENT PLAN III
Payment in Full Payment in Three Installments
(due in July, September, and November)
Payment in Ten Consecutive Monthly Payments*
(*Interest is charged on this installment plan.)

Tuition Refund Insurance (Optional)

St. Michael’s offers a plan that allows parents to purchase tuition insurance for a nominal fee. If, for any reason, a student withdraws from St. Michael’s during the course of the academic year, both parents and the School would be assured the continuation of tuition payments.

Financial Aid

Students are accepted into St. Michael’s based on academic merit, test scores, teacher evaluations and personal qualities. A limited amount of financial aid is available for qualifying students through a scholarship program. Awards are based on need and are determined by the School’s Financial Aid Committee. All information is kept strictly confidential. Please note that while the School does its best to meet need requests, St. Michael’s cannot guarantee to meet every dollar of need. While families are encouraged to apply for financial aid as early as possible because of limited funds, financial aid decisions are not made until after a student has been accepted.

To apply for financial aid, please complete the following two forms:

Parents’ Financial Statement Application for Scholarship – mailed from the School

Yearly Tuition and Related Fees

Tuition 2017-2018 School Year

Kindergarten $11,040
Grades 1 – 5 $11,040
Grades 6 – 8 $11,790

Deposits

Deposit The deposit is required with the signed contract. This amount is applied to the student’s tuition for the school year. $500

First Time Enrollment Fee

Each family is assessed a first time enrollment fee which must accompany the signed contract.

1st child $1,000
2nd child $500
Additional children No charge

Other Fees (2017-2018 School Year)

Book Fee $326
Activity Fee Yearbook, school directory, and Parents’ Association dues $50
Field trips & optional activities Billed in September, November, February and April.

Financial Aid is available for qualifying students through a scholarship program. Awards are based on need and are determined by the School’s Financial Aid Committee. All information is kept strictly confidential.

To apply for Financial Aid, please complete the following two forms:

  • A Parents’ Financial Statement (PFS) with the School and Student Service for Financial Aid (SSS), a division of the National Association of Independent Schools. You may access this by going to NAIS.
  • A St. Michael’s School “Application for Scholarship” which is mailed from the School.

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