Affording a Bullis Education
An independent school education is a costly yet beneficial investment, and many families are concerned about their ability to afford such an education. Bullis understands this concern and is committed to making our program affordable to all qualified students to the extent that our resources allow.
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.
In the past, Bullis has awarded financial aid grants to approximately 270 students annually, representing 32% of our student body, and the average grant size has been $22,000. 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 is committed to the principle of anonymity, and recipients of financial aid are not generally identified as such. Individuals who are aware of financial aid recipients include the Financial Aid Committee, Admission Office staff, and certain key administrators who have a specific need to know.
FOR CURRENT FINANCIAL AID RECIPIENTS
FOR NEW FINANCIAL AID APPLICANTS
Bullis uses a standardized approach to determine this need. The service that processes the applications for financial aid is called the School and Student Service for Financial Aid (SSS).
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.
Some of the qualifying factors considered 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.
After you complete the Parents' Financial Statement (PFS) application the School and Student Service for Financial Aid (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.
Financial aid and admission decisions are made by separate committees.
The Financial Aid Committee begins meeting in mid-February. It is important to have all paperwork, including all W-2’s and tax forms into Bullis and SSS well in advance of this time. SSS takes approximately three weeks to process the material sent to them.
While the financial aid determinations are made on a rolling basis after March, those families with all parts of the aid application process finished by the middle of February are in the best position to receive timely notification of the committee’s decision to help decide whether or not to accept a Bullis enrollment offer by the deadline.
To assess financial need, we require each family requesting financial aid to submit the following to SSS:
- Complete an annual financial statement which is processed by SSS in New Jersey.
- Submit your most recent IRS 1040 and W-2’s to SSS.
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.
Financial aid awards are granted for one year at a time. Current recipients must reapply for financial aid each year by the deadline.
Families need to submit the online aid application and required documents to SSS. No documents should be sent to Bullis.
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.
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.
A Spanish-language worksheet for filling out SSS form is now available on the NAIS Web site.
To download that form, go to www.nais.org, click on the “Admission and Financial Aid” tab and select “Financial Aid Services for Schools.”
In addition, families may fill out the SSS form online through the NAIS Web site. Go to www.nais.org for more information.