Saddle River Day School, a k-12 private school that serves about 300 students from New York and New Jersey, is opening up its endowment to help needy students pay for tuition.
The school announced late last month that it would “substantially increase” the amount of aid available to students who demonstrate financial need to its administration. Right now, about 15 percent of students receive financial scholarships. That number is expected to increase.
“SRDS is taking a lead in independent schools to provide educational opportunities and ease the burden of deserving families during the economic crisis,” said Barbara Moccia, president of the board of trustees, in a press release. The school is debt-free, and so can afford to use its endowment money for student tuition aid, the release said.
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