Bullis is proud to be in a position to offer need-based financial aid to families who cannot afford our full tuition. Financial aid is awarded in the form of a grant that is applied to the tuition. Financial aid is awarded to families who demonstrate financial need, which is defined as the difference between the family’s resources and the child’s educational expenses. A standardized approach, used by Bullis and almost all other independent schools, is used to determine this need. The service that processes the applications for financial aid is called the School and Student Service for Financial Aid (SSS).
Bullis offers financial aid because we believe that economic diversity is part of Bullis’ strength and definition. Financial aid is a common way for independent schools to help make their programs more accessible for more families.
All financial aid at Bullis is need-based. Aid amounts are based exclusively on demonstrated financial need, and while we try to accommodate as many families as possible within the financial aid budget the Bullis Board of Trustees approves each year, the unfortunate reality is that we cannot support every family that is accepted and demonstrates financial need. In some cases we cannot completely meet the full amount of demonstrated need, and in other cases we may accept a student but not have enough resources to support that student at all even though the family qualifies for aid.
As a non-profit institution with limited resources, Bullis expects that a family will have accessed all of its own sources of funding before coming to the school for financial aid. Since the School wants to give financial aid to the families that need it the most, we must assess the financial assets of each family applying for aid. To do this, many factors are considered. Some of these include:
- income, both taxable and nontaxable;
- assets (home equity, other real estate, savings, stocks, etc.);
- number of dependents;
- age of parent(s); and
- number of children attending tuition-charging schools.
We also consider a number of other variables when making tuition aid awards: consumer debt, earning potential for spouse not employed outside the home, automobiles (fair market and/or lease value), recreational vehicles, second homes, vacation expenses and student travel/enrichment activities.
To assess financial need, we require each family requesting financial aid to annually complete a financial statement which is processed by SSS in New Jersey. Your most recent IRS 1040 and W-2’s should be submitted to SSS as well. SSS then provides Bullis with a financial assessment which guides our Financial Aid Committee in evaluating applicants for aid. It is our policy to require all divorced and separated parents, custodial and non-custodial, to submit financial aid paperwork.
You may fill out the Parents’ Financial Statement (PFS) form on-line here and we strongly encourage you use this feature. Please note that you CANNOT download the form and mail it in.
- School and Student Service Process — Prospective families should complete the online PFS by February 1, 2017 for consideration for the 2017-2018 school year. Please note the Bullis code is 1960.
SSS conducts a financial assessment which guides the Bullis Financial Aid Committee in evaluating applicants for aid. They will mail the PFS results to Bullis approximately three weeks after they receive your form. It is essential that you complete the PFS as soon as possible in order for the Financial Aid Committee to receive the results in time for us to make financial aid decisions.
In the past, Bullis has awarded financial aid grants to approximately 210 students annually, representing 28% of our student body, and the average grant size has been $19,000. While many of our financial aid grants are for students in our Upper School, grants are also awarded to students in our Lower and Middle Schools.
Bullis School proudly offers significant financial aid award opportunities each year. Grants will be determined based on a family’s demonstrated financial need through the standard financial aid process.
In addition to the funds budgeted by the Board of Trustees, Bullis is fortunate to have historical support for financial aid from the broader community. The Dorothy Proudfoot Crow Memorial Fund and the Shirley Rozanski Fund generate support annually for financial aid.
In addition to the financial aid available through Bullis, there are several other organizations that may offer financial assistance to qualified students. For more information, please contact Tim Simpson, assistant head of school/director of admission and financial aid.