One of the first things that most students think of when it comes to Financial Aid is scholarship. While scholarships can certainly help you pay for your art college education, they are not the most abundant type of aid available for most students or families. Yes, you can and should search for every available scholarship dollar that you are eligible for, but it will usually take a combination of Federal, State, and private grants, as well as Loans, savings, tax credits, payment plans, and work, in order to meet your financial need. Despite all obstacles, there are ways to attend an art colleges AND avoid crushing debt. Some of the ways resourceful families do it include the following:

1. Payment plans: You can make it easier to pay tuition and fees with a payment plan. The Lyme Academy's program allows you to divide the total tuition payment each semester into four payments due once a month for the first 4 months of a semester. There is a $50 participation fee each semester the plan is utilized. Call the finance office (860)-434-5232 X115 for more details.

2. Tax credits: The Hope Scholarship, Lifetime Learning Credit, Student Loan Interest Deductions, IRA Withdrawals, and Education IRAs may significantly reduce the amount of Federal income tax that you owe if you are attending an art college.

For more information visit the following websites: 
http://www.irs.gov/pub/irs-pdf/p970.pdf

The required IRS form (8863) is available in Adobe Acrobat format at:
www.irs.gov/pub/irs-pdf/f8863.pdf or call 1-800-829-1940.

3. Corporate benefits: If your student is applying to art colleges, check to see if the company you work for offers tuition reimbursements for employees or children of employees or company scholarships.
ALSO CONSIDER THESE OPTIONS:

By attending a local college you can live at home. If you live within an hour’s drive from the Lyme Academy you can commute fairly easily and save around $5-10,000 in Room & Board costs (not to mention clean laundry).

Bring your lunch.  You can work part-time and attend school part-time, too, if necessary. By working and studying year-round, it may take five or six years to earn a degree, but work experience and graduation without debt are well worth it.

By attending Junior College for two years (for lower tuition); you can then transfer to the Lyme Academy for your final two years of study. Make sure you check in with the Lyme Academy Admissions Officer so that curriculum you follow for those first two years is transferable to the Academy. You must make a grade of C or above to transfer the credits. You may accept delayed admission to our art college in order to work for a year to save money toward your college expenses.