Financial Assistance Process

Foote uses Clarity to help assess each family's need for financial assistance, and what they can afford to pay. 

Parents are required to complete a Parents' Financial Statement online to determine the estimated amount a family can contribute to educational expenses. Clarity applies a uniform methodology that considers taxable and non-taxable income, assets, liabilities, family size and the number of students in tuition-charging schools. After a standard allowance for basic living costs and required taxes, a percentage of a family’s remaining resources are considered for education. Clarity electronically sends your family’s estimated parent contribution to Foote, which our Financial Assistance Committee uses as a basis in determining the amount a family can afford to contributed toward tuition.

The Financial Assistance Committee reviews the information from Clarity in conjunction with the applicant's IRS tax documents to make the final determination about a family's contribution to tuition. 

If a family's contribution is less than the Foote School tuition, the difference is the amount of financial need for that family. If a family's parent contribution is greater than the Foote School tuition, the family does not qualify for need-based financial assistance. The Financial Assistance Committee follows best practices as determined by the National Association of Independent Schools and treats all applications in the strictest confidence.

• For new students, notification of financial assistance awards will be sent at the same time as admissions decisions. 
• Returning students are notified February 1. 

New students applying to the school, or those with a younger sibling applying, may apply for financial assistance.

Families that enroll without financial assistance will be considered for assistance only if there is an unexpected change in their financial circumstances. Potential changes include divorce/separation, additional children at a tuition-charging school, or job loss.

Foote's financial aid budget does not allow us to financially support families in the case of a parent/guardian 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 Admissions Office, to discuss your eligibility.

Need for financial assistance is calculated as the difference between the parents'/guardians' contribution to education (as determined by an analysis) and a school’s tuition. If the parent/guardian contribution is less than tuition, the difference is the financial need for the family. If the parent/guardian contribution is greater than tuition, than the family does not qualify for need-based financial assistance and therefore is not eligible to receive financial assistance at Foote.

No, Foote does not offer scholarships. All financial assistance dollars are awarded on the basis of a family's demonstrated financial need. All awards from Foote are in the form of a grant and do not include any loans.

Foote School determines eligibility for financial aid based on an analysis from School and Clarity. This analysis considers all areas of a family’s financial profile to determine a family's need for assistance. Some factors include parents’/guardians' income (taxable and non-taxable), number of dependents, number of children in tuition-charging schools, age of parents/guardians, 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 award.

Award information is sent out with admissions decisions for new families, and Feb. 1 for returning families.

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 aid to a family at the full level of their demonstrated need, we cannot provide aid to all families who apply. These families will be placed in the admission wait pool.

Following best practices, Foote believes all parents/guardians are responsible for the education of their child. We consider financial information from each parent/guardian regardless of custodial arrangements.

Parents/guardians living separately must submit their own separate Clarity form for their own household and all required tax documents for their household. If either parent/guardian has another adult living in their household, the financial assistance information from all adults in each household will need to be submitted.

If parents/guardians were never married and do live together, it is the school's policy to consider financial information from all parents/guardians as one household. Therefore, those parents/guardians should complete one Parent/Guardian Financial Statement form and submit individual tax documents.

We are aware there could be extenuating circumstances, and in these cases, we ask that you contact the Admissions Office at (203) 777-3464.

Following best practices, Foote expects all parents/guardians will  contribute to their child’s education. To ensure equity in the analysis of each family’s financial circumstances, the Financial Assistance Committee will impute $30,000 to the total family income for a parent/guardian who chooses not to work. The committee will not impute if there is a preschool age child at home, or when a parent/guardian is unable to work due to a medical condition or is caring for an ill or disabled child or parent.

Foote is committed to supporting each family at their level of demonstrated need during all years 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.