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. Notification of financial assistance awards will be sent at the same time as admissions decisions, February 23rd for Middle School and March 8th for Lower School. Returning students are notified February 1st. The Financial Assistance Committee follows best practices as determined by the National Association of Independent Schools and treats all applications in the strictest confidence.