Tuition and Financial Assistance

In recognition of the sacrifices families make for their children to have an independent school education, Belmont Day offers financial assistance awards to bridge the gap between the cost of tuition and a family’s ability to pay.

We partner with School and Student Services (SSS) in our financial assistance application program and we encourage you to explore the process by visiting the SSS website. You will find helpful information including webinars and videos that will help you navigate the application process and completion of the Parents Financial Statement (PFS), the online application form.

Important Things to Know Before Applying

Families are expected to consider all their resources including external ones such as relatives, scholarships, etc. before seeking financial assistance. This allows us to prioritize families that do not have those extended networks and financial supports.

Parents must regard paying tuition as a priority, and both parents are expected to contribute to their children’s tuition through full employment and other income sources.

In families where one parent is not working outside of the home, we ask for a written explanation of their employment status. Belmont Day’s financial assistance budget will not be used to subsidize choices made by parents seeking graduate studies, business ventures, or opting to not work when dependents are school-aged.

If granted admission, families of students receiving financial assistance must submit a new application every year.

Applying for Financial Assistance

Prospective families must submit their PFS by January 30, 2023.

Current Belmont Day families that are newly applying for assistance must notify the director of financial assistance of their intent to apply by November 14, 2022. Current Belmont Day families who are newly applying or reapplying for financial assistance must complete their application by December 14, 2022.

Financial Assistance FAQs

Who needs to complete the financial assistance application?
Belmont Day expects both of the child’s parents to contribute to educational costs, regardless of a parent’s willingness to pay. The custodial parent (and spouse) and the non-custodial parent (and spouse) must both submit a Parents’ Financial Statement (PFS) and all tax forms as stated in the School and Student Services (SSS) instructions. If the whereabouts of the non-custodial parent are unknown, contact the director of financial assistance for further instructions on completing your application.

How are financial assistance awards calculated?
Belmont Day uses School and Student Services (SSS) to process our financial assistance applications. SSS is a service of the National Association of Independent Schools (NAIS) and is used by most independent schools to calculate need. Based on the financial information you provide through the Parent Financial Statement, SSS provides an estimated amount your family can contribute to educational expenses. Among other things, SSS takes into account:

• Income of both parents (and any additional spouses)
• Family assets
• Age of both parents
• Number of dependents
• Number of children in tuition-charging schools

Belmont Day uses this estimated family contribution as a starting point and then makes additional adjustments based on a family’s specific circumstances. All financial assistance decisions are made by a committee to ensure consistency and equity of awards.

Do I have to reapply for financial assistance each year?
Yes, financial assistance awards are recalculated each year. Families must complete the Parent Financial Statement and submit required tax forms every year to establish need for the next academic year.

Will my financial assistance award remain the same as long as my child attends Belmont Day?
Families complete a new financial assistance application each year to establish need for the following academic year. Assuming that you have not had significant changes to your income, assets, family size, or family structure, the percentage of assistance that you receive will likely remain consistent each year. We award assistance to our returning families before our prospective families, so it is critical that your application and most recent tax documents are submitted by the deadline so that we can continue to prioritize your family’s award. We encourage current Belmont Day families to communicate with the director of financial assistance throughout the year to make sure questions, concerns, and deadlines are addressed.

Why do I need to provide my 2022 tax documents in April upon accepting an offer of admission when you already have my prior years’ (2021) income information?
In the event that a family’s income fluctuates significantly from the prior year, Belmont Day reserves the right to make necessary adjustments to the original financial assistance award shared with our offer of admission in March. In general, there would need to be a significant change in income to trigger a revision of your award. Having access to families’ most recent tax documents also allows us to verify situations where a family may have experienced a significant reduction in income from the prior year.

Do you provide assistance with After School program fees?
Yes, families that are granted a financial assistance award are also eligible to receive assistance with After School program fees. We apply the same percentage of assistance that applies to tuition to discount After School fees.

Can I apply for financial assistance after my child has been granted admission?
We allocate funds from our financial assistance budget first to families who qualify for assistance and whose children have been granted admission. Waiting to apply for assistance after an offer of admission is not encouraged since funds will have been allocated by then, and our budget will not be able to accommodate late requests. Priority is given to families who meet our financial assistance application deadline.

Will we be considered for financial assistance if my spouse stays home to care for our younger child?
Belmont Day recognizes the challenges of raising young children, so in calculating our financial assistance awards, we allow one parent to remain home until the youngest child is of preschool age. When all children in a family are of school age, it is our expectation that both parents be working full-time in order to be considered for financial assistance. We encourage families to reach out to Director of Financial Assistance Lauren McDermott to discuss their individual circumstances.