Scholarship FAQ

The Village Scholarship (TVS) is a renewable scholarship designed for private elementary school students from underserved and underrepresented communities in low-income households who are enrolled in PSV-partnering schools. These students align with PSV’s core value of promoting racial equity in the private school experience. TVS aims to increase racial diversity in local private schools and address the financial aid gap. The effort launched in January 2024 with its first cohort of the pilot, and we are now moving into the second year of the pilot initiative.

TVS is a first-of-its-kind program created and managed by a parent-focused nonprofit organization. It is among the few elementary-school-focused scholarships for students from underserved and underrepresented communities in low-income households, emphasizing the importance of early intervention in education. Scholarship funding is designed to help meet the gap in financial aid packages. Closing the financial aid gap is crucial for families who want to send their children to private schools but may have limited financial resources.

In the context of private schools, the term "financial aid gap," sometimes referred to as a “funding gap,” generally refers to the difference between the cost of attending the school and the amount of financial aid or assistance provided to a student. Although many schools provide financial aid packages, it’s often not enough to fully cover financial needs, especially without a family having to make significant concessions. The gap is essentially the amount that a student and their family need to bridge through other means, such as personal savings, loans, scholarships, or grants.

Unlike traditional private school financial aid, TVS comes from an outside organization, providing families with the flexibility and security to move the scholarship to another private school if needed.

• Facilitate equal access to quality education by breaking down financial barriers.

• Foster racial diversity and inclusion in private schools.

• Partner with private school financial aid offices to explore more equitable financial aid models.

The scholarship values transparency, integrity, equity, and community. PSV retained a third-party agency, AWA Consults, for the design, evaluation and awarding process to ensure objectivity and transparency when reviewing candidates. We have also engaged Researcher, Writer and Wealth Activist Chloe B. McKenzie to ensure an equitable process.

The scholarship provides financial assistance to cover partial tuition as defined by each participating school.

• Applicants must identify as a part of an underserved and underrepresented community

• Applicants must be currently enrolled in or have secured admission to a participating independent school

• Applicants must have financial need

• Applicants must be well-versed in the PSV mission and if selected, commit to participating in PSV activities, programs, and events

• Completed online application

• Supporting documents

• Participate in an interview process

• Submit proof of current financial aid offer

• Applications open December 1, 2024 and close January 24, 2025

• Scholarship award notification: Amounts will be informed and verified after schools disseminate their acceptance letters and financial aid packages.

• 11/14/24: Virtual info session for school administrators

• 11/19/24: Virtual info session for applicants

• 12/01/24: Applications open

• 1/24/25: Application closes

• Late January/Early February: Scholarship Review and Interview process

• Late February/Early March: Scholarship award notification

• Due to the varied timelines and requirements among schools, including differing response times and financial aid deadlines, we have established an estimated timeline to ensure a thorough and equitable review process. In late January to early February, we’ll begin the Scholarship Review and Interview phase.

PSV retained a third-party agency, AWA Consults, for the design, evaluation and awarding process to ensure privacy, objectivity and transparency when reviewing candidates. We have also partnered with Researcher, Writer and Wealth Activist Chloe B. McKenzie to ensure an equitable process. Applicants shall be selected according to a combination of financial need, completed application and alignment with PSV’s values.

In its pilot year TVS will provide 4 partial scholarships for up to $10,000. Future scholarship award amounts will be determined by learnings from the pilot, and informed by a review of financial aid packages across the private school landscape.

The full amount of the award will be disbursed directly to the school at the discretion of the family.

Yes, a complete list can be found here: Partners & Supporters | PSV (privateschoolvillage.org)

Yes, applicants must be well-versed in the PSV mission and if selected, commit to participating in PSV activities, programs, and events

No, in an effort to maintain privacy scholarship applicants will not be made public.

The purpose of PSV retaining an external firm is to ensure objectivity, privacy, and transparency when reviewing candidates.

Yes, at the point of acceptance, there will be a financial aid verification process. Contact will be made with the school to confirm the award amount of the offer letter.