UCLA

This quantitative study draws on 11 years worth of longitudinal financial data collected from United States independent schools from 2003 to 2013 by the National Association of Independent Schools via StatsOnline. Tuition price and tuition growth rates were analyzed by school type, proportion of students on financial aid, the ratio of total annual giving to total income and the ratio of total endowment to total annual giving. Additionally, the proportion of students on financial aid was analyzed by school type, ratio of total annual giving to total income, ratio of total endowment to total income and tuition price. The relationship between total endowment and annual giving and total endowment and tuition price was also analyzed. Findings include the most expensive type of school, the relationship between annual giving and financial aid, suggestions for independent school praxis and also suggestions further research. Because the data used includes the years 2008-2010, observations regarding independent school response to the United States recession of 2009 are also included.