Financial Aid Overview

In support of economic diversity, for this academic year Foote awarded $1.4 million in need-based aid to 21 percent of the student body. These grants range from $1,000 to nearly full tuition, with the median grant being about 75 percent of tuition.  The school supports this program from current operating funds, from restricted endowment, and with donations to the Annual Fund designated for financial aid.

To help assess the financial profile of each family, Foote uses the School and Student Services (SSS), a service of the National Association of Independent Schools (NAIS).  Parents are required to complete a Parent Financial Statement (PFS), which SSS uses to determine the estimated amount a family can contribute to educational expenses.

SSS applies a uniform methodology that considers taxable and non-taxable income, assets, liabilities, family size, the number of students in tuition-charging schools or colleges, and the student’s assets. After a standard allowance for basic necessities and required taxes, the remaining family resources are considered available for education. Once SSS has sent your family's estimated contribution, we will use this as a basis in determining your financial need.

Financial Aid Analysis

The Financial Aid Committee treats applications in the strictest confidence and reviews the information from SSS in conjunction with the IRS tax forms to make the final determination with regard to grants based on a family's demonstrated need. If a family's determined contribution is greater than the Foote School cost, the family does not qualify for financial aid. If a family's determined contribution is less than the school cost, the difference determines the amount of the financial aid grant.  Financial aid offers will be made by March 10 for new students and by the end of April for returning students.

Financial aid grants are made for one academic year and awarded in subsequent years based on continued need; financial aid recipients must reapply each year. The size of the award may vary as a family’s financial circumstances and tuition change. Since most of the financial aid for a given grade is initially awarded in kindergarten, new financial aid for later grades is limited. 

A student who enrolls without a financial aid grant is expected to continue to pay full tuition unless there is a significant change in the family's financial circumstances.  Foote will not support parents who choose to make a change in their employment status that reduces their income.

A family’s current financial account with the school must be in good standing before a financial aid award can be made.

Naturally, each family's situation is unique and may require further clarification and communication with the Financial Aid Office.  Please do not hesitate to call and discuss your situation. We keep all inquiries confidential. Although the school cannot meet every family’s request for assistance, each family’s situation is reviewed thoroughly and carefully.

Should you have questions about financial aid or require assistance in completing the SSS form, please contact Kelly Small, Director of Financial Aid. 

Deadlines for Applying for Financial Aid for New Families:

Below is an outline of the timetable and forms required to complete the process for financial aid at the Foote School. Please note: If a child’s parents reside in separate households, Foote requires each parent to complete the financial aid forms. Each parent should complete the application for his/her household only.

January 2012    
•  Instructions outlining the financial aid process are mailed to parents of applicants who have indicated on their admissions application their interest in applying for financial aid.

By February 15     
•   Parents' Financial Statement (PFS) should be completed online at sss.nais.org. It is best to complete the form on time even if you have to estimate some of the information. Please answer ALL questions; leaving any blanks will delay the processing of your application, and fraudulent information will result in loss of financial aid. The school code for Foote is 3191.
   
   – By mail: If you are unable to complete the PFS online, request a printed PFS from Foote School and mail to SSS at:
                                           SSS By NAIS
                                           P.O. Box 449
                                           Randolph, MA, 02368

•   Tax forms: A signed copy of both previous and current year Federal 1040 tax forms should be uploaded to SSS. Include all supplementary schedules and copies of all W-2s or 1099 forms.

March 10           
•    Financial aid decision letters are mailed to families of newly accepted students. The Committee works very hard to make equitable and sufficient awards to help as many families as possible.

By April 10     
•    Acceptance of Admission and Financial aid awards are due from families.

Note: While financial aid is available throughout all grades, most of the financial aid budget for a particular class is awarded in Kindergarten and renewed in the subsequent years. Therefore, new aid for later grades is limited.

If you have any questions about the application or the process, please contact Kelly Small, Director of Financial Aid, 203-777-3464.


updated 1/17/12 bl