Financial Aid

List of 11 frequently asked questions.

• How is financial aid awarded?

  Buckley is a member of School & Student Services By NAIS (SSS), which assists independent schools in determining a family’s financial need. Families submit a Parents’ Financial Statement (PFS) to SSS that contains detailed financial information. From the information provided on this form, SSS uses a standardized calculation nationally accepted by independent schools to compute a family’s tuition contribution. The PFS takes into consideration such things as gross taxable income, assets, liabilities, family size, and number of children attending tuition-charging schools. The information is reviewed by the Financial Aid Committee at Buckley and is used as a guideline in determining financial aid decisions. All awards are based on a family’s demonstrated financial need, and athletic scholarships are not available.

• How much aid is awarded each year?

  For the 2018-2019 school year, Buckley awarded families more than $3 million in financial aid providing 14 percent of families with financial assistance.

• What if I do not apply for aid the year I apply to Buckley? Is financial aid automatically renewed each year?

  If a family does not apply for financial aid the year they apply for admission or if they do not have a significant, documented change in their financial status, they will not be awarded financial assistance in future years. Buckley requires families receiving aid to reapply each year. A change in income, family status, or the number of children attending tuition-charging institutions may result in increases or decreases in an award. Every application will be reviewed annually.

• What happens if parents are divorced or separated?

  In the case of divorced or separated parents or parents that have never married, the Financial Aid Committee considers the income and assets of both legal parents, if living, before making any award, and cannot be bound to the assertion that one parent has disclaimed, legally or otherwise, any responsibility for educational expenses. Buckley will not become involved in allocating the award on a proportional basis to the families involved, and the responsibility for all communications and payments ultimately lies with the custodial parent. If either parent has remarried, Buckley will also consider the income and assets of the step-parent, always bearing in mind the financial obligations of that step-parent to his or her own natural children. In view of this policy, it is required that parents to whom this situation pertains complete the Parents’ Financial Statement (PFS), submit signed copies of their current year Form 1040, all W-2 forms, and all schedules and statements. Please be aware that if a noncustodial parent refuses to comply to submit the required documentation, the Financial Aid Committee will determine if the family is eligible to receive financial aid.

• I never do my taxes until the April 15 deadline. How will this impact my financial aid award?

  We recognize that preparing your 2018 IRS tax documents by February 15 is challenging. Our financial aid budget is limited, however, and those who meet the deadline have a distinct advantage. Your timely application means we can give your son or daughter the consideration he or she deserves. If your taxes cannot be completed by that date, taxes from the previous year should be submitted and a tentative award will be made subject to verification. The award, however, will not become finalized until we receive the tax information for the current year. If you have questions regarding this policy, please contact our office.

• When will I be notified of my award?

  If a student is admitted to Buckley and qualifies for aid, a financial aid award will be included along with the admission packet. Returning students will receive an updated award as the Financial Aid Committee reviews any changes in their files.

• What payment plans are available?

  It is the policy of the school that all tuition and fees are due by June 15. Parents receiving financial aid, however, are able to pay their tuition over a ten-month period beginning in March and ending in December. Buckley also offers a six-month payment plan through Tuition Management Systems for all non-financial aid families. More detailed information regarding this program can be found online at www.buckley.afford.com. Parents must signup through Tuition Management Systems in order to be eligible for this payment plan. In addition, families may also investigate third-party loan programs from Your Tuition Solution at www.yourtuitionsolution.com. Please note that all loans are subject to availability by the provider, and that The Buckley School does not guarantee the availability of a loan at any time.

• How is a financial aid application handled if one parent does not work?

  If a family has children over the age of six, it is expected that both parents are employed. If one parent chooses not to work, then a full-time income at minimum wage will be imputed for that parent for the purposes of preparing a financial aid grant.

• How can I be assured that my information is kept confidential?

  Applying for financial aid at Buckley is a private matter between the family and the school. The Financial Aid Committee conducts a comprehensive review of a family’s personal financial situation, and that review is not discussed with any other person outside of the Financial Aid Committee. In an effort to protect a family’s privacy, we expect all financial aid applicants to exercise discretion during the financial aid process by not discussing their financial aid application or award with other families.
  
  In addition, School & Student Services (SSS) by NAIS places a priority on collecting and processing a family’s documents in a safe and efficient manner. When documents are sent to SSS, families submit their information to SSS through a secure server. Families are able to track receipt of the documents sent to SSS through a unique password-protected account.

• Do families have to pay back their financial aid award?

  Every year, the school sets aside a portion of its budget in order to help families cover the educational expenses of attending school at Buckley for the year. Although financial aid awards do not need to be repaid to the school, it is the expectation that all families will contribute to Buckley to the best of their ability so that the financial aid program will be able to be sustained for future years.

• What is the purpose of the IRS Form 4506-T?

  This form gives the Financial Aid Committee permission to request a transcript copy of a family’s Federal Income Tax Return as filed with the IRS. Families should sign but not date Form 4506-T.