Financial Assistance FAQs
- How much financial assistance is awarded each year?
- Who is eligible to apply for financial assistnace?
- What is need based financial assistance?
- What factors are considered when determining financial need?
- Can applying for financial assistance affect the admissions decision?
- Does Foote offer scholarships?
- What Costs Can we Expect Beyond Tuition?
- Will we receive financial assistance after the first year?
- What is the process for divorced/separated/never married parents to apply for assistance?
- How will our assistance change when siblings enter the School?
- How are non-working parents considered in the process?
New students applying to the school may apply for financial assistance. The Foote School expects that families who enroll paying full tuition will continue to pay full tuition each year their child is enrolled unless there is a change in the family’s circumstances. Potential changes include divorce or separation, additional children at a tuition-charging school, or job loss. Foote's financial assistance budget does not allow us to financially support families in the case of a parent who chooses to return to school or change jobs as a personal choice, thereby reducing their household income. We are aware there could be extenuating circumstances within some families and in these cases we ask that you contact the Director of Financial Aid.
A family’s demonstrated need for financial assistance is the difference between the parent contribution to education (determined through the SSS analysis) and a school’s tuition. If the parent contribution is less than tuition, the difference is the financial need for the family. If the parent contribution is greater than tuition, than the family does not qualify for need-based financial assistance and can not receive a financial assistance award.
SSS uses a formula that considers all areas of a family’s financial profile to determine a family's need for assistance. Some factors include both parents’ income (taxable and non-taxable), number of dependents, number of children in tuition-charging schools, age of parents, certain indebtedness and unusual expenses, and assets, including home equity and investments. This information is used as the basis to calculate a family’s ability to contribute to educational expenses and for the Foote Financial Assistance Committee to determine a family’s financial assistance grant.
At Foote, applying for financial assistance does put you in a more competitive applicant group. After the Admissions Committee determines which children are admissible, the Financial Assistance Committee convenes to allocate funds to those admissible families who have applied for financial assistance. Foote School has a limited budget and although we will provide assistance to a family at the full level of their demonstrated need, we cannot provide assistance to all families who apply. These families will be placed on a wait list.
Foote School does not offer scholarships. All financial assistance dollars are awarded on the basis of a family's demonstrated financial need. Each family's need is determined through the financial analysis at SSS. All awards from Foote, however, are in the form of a grant and do not include any loans.
Each family has an annual Parent Teacher Council (PTC) fee of $45. Otherwise, tuition covers field trips, classroom books, school supplies in the Lower School and sports costs in the Middle School. Families receiving financial assistance who choose to send their child to the After School Program receive the same percentage of assistance toward these fees as they do toward tuition. This same percentage applies to the ninth grade trip to China. Financial assistance families also receive a discount toward Foote's Vacation and Summer programs.
As a school, we are committed to supporting each family at their level of demonstrated need during each year their child is enrolled. Families who receive financial assistance are required to complete the financial assistance application process each year and submit current year financial information. Completing this re-application each year allows the Financial Assistance Committee to verify a family's level of financial need.
For parents who are divorced, separated, or never-married, it is the school's policy to consider financial information from each parent regardless of custodial arrangements. Each parent must submit a completed PFS form for their household and all required tax documents for their household. We are aware there could be extenuating circumstances within some families and in these cases we ask that you contact the Director of Financial Aid.
The SSS need-based analysis helps determine a family’s parent contribution to education. If siblings enroll at Foote, or another tuition-charging school, this overall parent contribution stays the same and is divided among the number of children in full-time, tuition-charging schools. For example, if your parent contribution is $10,000 and based on a tuition of $25,000 with one child in a tuition-charging school, your financial need/award is $15,000. If you have two children enrolled, we divide the $10,000 parent contribution in two and the need/award for each child is $20,000.
Foote expects that all parents/guardians will work to contribute to their child’s education. To ensure equity in the analysis of each family’s financial circumstances, the Committee will impute $25,000 to the total family income for a parent or guardian who chooses not to work. The Committee will not impute if there is a preschool age child at home, or when a parent is unable to work due to a medical condition or is caring for an ill or disabled child or parent.
Foote’s curriculum is interdisciplinary, exploring themes across subject areas to create deeper connections. As part of a unit on Australia and the Great Barrier Reef, third graders drew underwater scenes on scratch board.