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Trinity High School Admission Information 2006-2007 Tuition and Application Information Our goal in this more detailed tuition document is: • To provide clear information about tuition rates at Trinity High School, both for the 9th grade ‘Pioneer’ class starting in Fall 2006 and for classes entering in Fall 2007-09. • To explain the reasoning behind Trinity High School tuition. We will be very glad to answer any questions you have by email, over the phone or in person. Please contact John Sharon, Director of Upper School, at 919.402.8262 x 316 or Bill Francis, Business and Facilities Manager, at 919.402.8262 x 304. Please click on the links below, or simply scroll down the page. What is the reasoning behind Trinity High School’s tuition schedules? How does Trinity’s tuition compare to other Independent High Schools? What is tuition for the ‘Pioneer’ class entering 9th grade in Fall 2006? Is this tuition rate guaranteed? Are there any additional fees to pay?
Pioneer class tuition rates are guaranteed for 2006-07. Trinity’s Board of Trustees projects, but does not guarantee, the Pioneer class annual tuition rates shown above for 2007-10. Thus, the Pioneer class entering 9th grade in Fall 2006 will pay 2006-07 tuition of $10,600 otherwise. Tuition for the years 2006-10 for these students is then projected to be $11,900 in 2007-08 when they are in 10th grade, $13,400 in 2008-09 when they are in 11th grade, and $14,900 in 2008-09 when they are in 12th grade. There are no required additional Activity Fees, Capital Improvement Fees, etc. on top of tuition during 2006-10. What is tuition for post-Pioneer classes entering 9th grade in Fall 2007, 2008 and 2009? Are these tuition rates guaranteed? Are there any additional fees to pay?
Trinity’s Board of Trustees projects, but does not guarantee, the post-Pioneer class annual tuition rates shown above for 2007-10. Trinity projects that all post-Pioneer enrollees will be charged the same tuition in any given year. For example, tuition for students who are in 9th grade in 2008-09 is expected to be the same as tuition for students who are in 10th grade in 2008-09. There will be no required additional Activity Fees, Capital Improvement Fees, etc. on top of tuition during 2007-10. Will there be financial aid available for qualified families? How does Trinity decide who qualifies for financial aid? Trinity will set aside 10% of its annual High School tuition receipts for High School financial aid. This will significantly lower tuition for families that qualify. For example, if one in three families in the Pioneer class of 2006-07 qualify for financial aid, then those families would likely see an average reduction in their 2006-07 tuition of $2,800. In deciding who qualifies for financial aid for High School tuition, Trinity will follow the same approach as it applies to Financial Aid at Trinity School. Need-based financial aid will be awarded annually to families who apply and are approved. Trinity’s Financial Aid Committee confidentially reviews all financial aid applications, and with the help of third party analysis, determines the most equitable distribution of funds. The Committee makes its recommendations to the Headmaster, who approves financial aid awards. What is the reasoning behind Trinity High School’s tuition schedules? Over time, Trinity’s High School tuition is designed to follow the following trajectory:  The low opening High School tuition rate and large annual rates of increase are intended to reflect and compensate for three assumptions: • The first four High School classes will face more risks and uncertainties than later classes. • Those risks and uncertainties will diminish as Trinity High School matures. • The rate of inflation for academic costs will be higher than the general rate of inflation. Trinity is building into a 6% inflation rate into its tuition model because school-related costs have historically grown faster than the general rate of inflation. Compensation for Risk The students and parents who join Trinity High School during its first four years (2006-10) will experience the boldness and excitement of venturing into uncharted territory. However, they will also face uncertainties and practical challenges that classes coming after 2010 will not. These will or may include smaller athletic teams, fewer athletic offerings, being the first to experience the curriculum, have fewer academic electives available, being the first class to apply to college, being taught in modular facilities for at least 2006-07 while the permanent High School buildings are being constructed, and not yet being in an accredited High School. In light of these factors, Trinity’s Board of Trustees has adopted a tuition model in which the classes that face the most risk because they are going first, such as the Pioneer class, will pay lower tuition than classes that follow in order to fairly compensate them for that risk. Trinity High School tuition will therefore start out in 2006-07 at a level that is markedly and deliberately below what tuition is targeted to be in the long run. From that low starting point, Trinity projects that its High School tuition will increase by an average of 12% per year until 2011 at which point it will be at about 90% of its long-run inflation-adjusted level. Trinity projects that tuition after 2011 will increase at a lower rate, until tuition reaches its long-run level in 2014-15. That long-run level is expected to lie between the averages for Independent High Schools in North Carolina and the country as a whole. The Components of Trinity High School Tuition 1. The first component or base layer of Trinity’s High School tuition arises from recognizing that students in the first four High School classes will likely experience more risks and uncertainties than will later classes, but that those risks and uncertainties should rapidly diminish as the High School matures. This translates into the following rates that Trinity expects to charge for tuition during 2006-10, not including the additional Pioneer tuition discounts discussed in sections 2. and 3. below that apply solely to the Pioneer class:
These tuition rates would be expected to apply equally to all students in the High School in that particular calendar year. Thus, students entering 9th grade in 2008-09 and students entering their Junior year in 2008-09 would pay the same tuition for that academic year, namely $14,800. 2. The second component of Trinity’s High School tuition model is a 10% Pioneer class tuition reduction for students entering 9th grade in 2006-07. The reason for providing an additional 10% tuition reduction to the Pioneer class is that the Pioneer class will be the very first to experience virtually every aspect of the High School as they proceed through to their 12th grade graduation. As a result, they will face a disproportionate share of the risks and uncertainties. Factoring in the Pioneer class tuition reduction leads to the following tuition rates that Trinity expects to charge the Pioneer class in 2006-10, not including the one-time Pioneer early enrollment incentive:
3. The final component of Trinity’s High School tuition model is a one-time $1,000 discount on 2006-07 tuition for signed 9th grade enrollment contracts received by Dec. 13, 2005. Taking advantage of this discount would lower 2006-07 tuition to $9,600 for the Pioneer class. Trinity has three reasons for offering an early enrollment discount in the first year of its High School. • Having an entering class of 20 or more students in both 2006-07 and 2007-08 will be greatly beneficial to both those classes and future classes. The bigger the entering classes, the easier it will be to hire exceptional teachers, offer broad and deep athletic teams, raise money for the High School Capital Campaign, rapidly bring High School finances into a balanced budget state, and engender strong stakeholder confidence in the High School endeavor. The faster and larger enrollment is achieved in the first two years, the larger and the better we believe the High School will be. • Trinity recognizes that even taking into account the multiple avenues through which tuition is lessened in the early years of the High School, some families will find it a financial stretch to send their child or children. For such families, an additional $1,000 reduction in tuition for 2006-07 even over and above financial aid may help make Trinity High School possible. • Trinity recognizes that some families may wish to “try out” the High School for a year. Making a $1,000 early enrollment discount available in 2006-07 enhances the attractiveness of this route for such families. When all three components of the High School tuition model detailed in 1.-3. above are combined, they yield the following tuition schedules for the Pioneer and post-Pioneer classes entering in 2007-10:
How does Trinity’s tuition compare to other Independent High Schools? We think that Trinity’s tuition at all grades—including the High School—compare favorably with those of other Independent Schools. Tables 1 and 2 contain extrapolated data from the National Association of Independent Schools (NAIS) and North Carolina Association of Independent Schools (NCAIS) tuition databases for 2004-05. Trinity is a member of NCAIS. Table 1 estimates that Trinity’s 9th grade tuition for 2006-07 will be at the 12th percentile of all NAIS schools, and that 12th grade tuition for 2006-07 were Trinity’s 12th grade in place in that year would lie at the 35th percentile. Put another way, 88% of all NAIS schools will likely have 9th grade tuition in 2006-07 that is more expensive than Trinity’s, and 65% of all NAIS schools would likely have more expensive 12th grade tuition in 2006-07 than Trinity’s.
Limiting the set of comparable schools to only independent high schools in North Carolina, Table 2 estimates that Trinity’s 9th grade tuition for 2006-07 will be at the 6th percentile of all NCAIS schools, and that 12th grade tuition for 2006-07 were Trinity’s 12th grade in place in that year would lie at the 38th percentile. Note: Numbers in Tables 1 and 2 are rounded to the nearest $100. Both Tables contain several estimates. Trinity data for K-8 is tuition for 2005-06 increased by 6%. Trinity data for High School in 9th grade is what will be charged in 2006-07 (assuming an early enrollment discount of $1,000). Trinity data for High School in 10th-12th grades is what is projected would be charged in 2006-07 were students enrolled. Data for NAIS and NCAIS schools is tuition in 2004-05 increased by 6% in 2005-06 and a further 6% in 2006-07.
Note: Numbers in Tables 1 and 2 are rounded to the nearest $100. Both Tables contain several estimates. Trinity data for K-8 is tuition for 2005-06 increased by 6%. Trinity data for High School in 9th grade is what will be charged in 2006-07 (assuming an early enrollment discount of $1,000). Trinity data for High School in 10th-12th grades is what is projected would be charged in 2006-07 were students enrolled. Data for NAIS and NCAIS schools is tuition in 2004-05 increased by 6% in 2005-06 and a further 6% in 2006-07.
Trinity School of Durham and Chapel Hill |
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