Financial Aid

• Financial Aid grants are awarded on the basis of parental financial need. The Newman School belongs to School & Student Services (SSS) by Community Brands which requires parents to complete a Parents’ Financial Statement (PFS) annually. Uploaded copies of personal tax returns and business taxes, if applicable, are also required.
• In evaluating the amount of aid needed to meet tuition costs, the Financial Aid Committee takes into account the family’s other children (ages, schools they attend), additional dependents, all sources of income, priority of spending, debts, and expenses.
• The Financial Aid application process occurs at the same time as application for admissions. However, the decisions to accept and to award assistance are separate.
• In the case of divorced, separated, or never married parents, both parents must submit a separate Parents’ Financial Statements to School & Student Services (SSS). Both parents upload copies of their personal tax return to SSS. Neither parent has access to the others’ information.
• If one parent has no contact with the family, the custodial parent should submit third-party verification explaining the situation, i.e. by clergy, school administrator, or other individual with knowledge of the situation.
• Renewal grants are given priority. Then, consideration is given to those seeking aid for the first time.
• Priority for Financial Aid to incoming students is given by grade. Due to the number of years potentially involved in meeting need, it is sometimes more difficult for the school to make awards in the lowest grade levels.
• It should be understood that lifestyle choices that result in increased expenses or decreased income cannot be underwritten by the financial aid program at Newman.

Domestic:

Grades 7 - 12:  $28,000

International:

Grades 7 - 12:  $39,000

Boarding Program:

Grades 9-12: $21,000

Every financial aid application will be reviewed on an individual basis. Our guidelines are meant to assist the Financial Aid Committee with the issuance of financial aid awards.  

Continuing families currently receiving financial aid will be given first priority. Adherence to deadlines is essential because funds will be allocated to other families if materials have not been submitted by the deadline.

Financial aid awards are for one year. Failure to comply with financial aid deadlines may disqualify a student from receiving aid. Misrepresentation, or failure to disclose completely all information on the Parents’ Financial Statement, will result in the loss of financial aid.

Families should fill out the PFS at SSS and submit all tax documents and necessary schedules.  In addition, families should fill out Form 4506. This document is available at http://www.irs.gov/pub/irs-pdf/f4506.pdf and should be signed, undated, and uploaded through SSS.  Form 4506 is an IRS document that is used to retrieve past tax returns, W-2s, and 1099 transcripts that are on file with the IRS. The document gives permission for a third party to retrieve the taxpayer’s data.

A complete 2019 Federal tax return, including all appropriate schedules, must be received by SSS via by  JANUARY 31, 2022. 

A complete 2020 Federal tax return, including all appropriate schedules, must be received by SSS at your earliest convenience, but no later than APRIL 15, 2022. If you require special considerations, please contact Melissa Bacon: mbacon@newmanboston.org. 

Unmarried Couples and Single Parents
The birth parent(s) and guardian(s) must report all income and assets.

Divorced or Separated Parents
The Newman School policy for determining the financial need of students from separated or divorced families is derived from the underlying principle on which we base financial aid for all of our students—that is, parents should pay the educational expenses of their children to the extent they are able. 

In situations where an applicant’s parents are separated or divorced, the term custodial parent is used for the parent with whom the applicant resides (or has resided with most often during the twelve months prior to the application). The other parent is referred to as the non-custodial parent. The Parents’ Financial Statement (PFS), which is submitted to SSS for central processing, is completed by the custodial parent, and if that parent has remarried, by the step-parent. Non-custodial parents are also expected to complete a PFS form and send it to SSS.

We will consider the assets of both birth parents before making any award and cannot be bound by the assertion that one parent has disclaimed responsibility for educational expenses. If either parent has remarried, the School will also consider the assets of the step-parent, always bearing in mind that the obligation of that step-parent is to his or her own birth children.

It is the responsibility of both parents to submit the appropriate financial information. It is the responsibility of the custodial parent to ask the non-custodial parent to complete the appropriate forms. If the requested information is not provided, the Financial Aid Committee will not be able to review your application. Remarriage of either parent creates a new family unit with new relationships, but we believe that the natural (or adoptive) parents still have a responsibility for educational expenses despite any legal agreements to the contrary. Therefore, the income, expenses, assets and liabilities of the entire new family are considered pertinent to the birth (or adoptive) parents’ ability to contribute to the cost of education.

In accordance with this policy, the custodial parent (and any spouse) should file the PFS. The non-custodial parent (and any spouse) must file the PFS as well. Applicants awarded aid and accepting the offer of admission to Newman will be required to submit a signed copy of their 2019 and 2020 IRS Form 1040, 1040A or 1040EZ with all schedules and attachments for each parent.

We will consider waiving the requirement for submission of the Financial Statement for Parents Who Are Separated or Divorced by the non-custodial parent under the following circumstances:

1. Information is provided which clearly indicates that the location of the non-custodial parent is unknown.
2. Information is provided that the non-custodial parent has not provided support and has had no contact with the family for at least 10 years.

In either of the above mentioned situations, supporting documentation clarifying the situation will be accepted from a doctor, lawyer or other such person with knowledge of the family’s circumstances. There may be other extenuating circumstances which would warrant our waiving this requirement.

Tuition does not include:
Personal computer; books for grades 7-12 (books are purchased online; annual costs are approximately $300); optional field trips, such as international trips; some athletic equipment; optional sports fees; and optional club fees.
 

Families are also charged a $300 fee at the start of each school year for the student fund. This fund will act as a debit account for each student for above costs and additional incidental charges during the year. Should this $300 deplete, the Family is responsible for refilling the student account. This money will be rolled over to the next school year or refunded (for graduates) should there be additional funds at the end of a school year.

Financial aid decisions are made apart from student applications but in tandem. All aid will be no later than March 15 for the March 10 acceptances. 

It may help to look over the workbooks below for an overview before you fill out the PFS online. Most of your answers will be estimates. The financial aid office will make adjustments after taxes are uploaded.

• PFS Workbook-English
• PFS Workbook-Spanish

If you need help with the online application, call the SSS Helpline at 1.800.344.8328 or visit the SSS Help Page. For questions about The Newman School program, contact Melissa Bacon, Director of Admission, at mbacon@newmanboston.org.

You should estimate. Amounts are corrected by the financial aid office after your tax information is received. The top priority is to have your child’s PFS in the SSS system before January 31 in order to be considered for the coming year.

Yes, students receiving aid are only known by the financial aid committee and business offices, so no teachers or administrators are ever aware of who receives aid nor are they asked for academic reports on any student.

Priority goes to older students since they need funds for a shorter period and are preparing for college. Consideration is sometimes given to present Newman School families who have an emergency or other unforeseen circumstance that can be documented (such as COVID).

It is not recommended that a family enroll in the school with an intent to apply for aid at a later date. We budget by grade level, and if you wait until after enrollment, funds will already be allocated to other families. 

Funding is from the school’s operating budget, foundation grants, and major donors.

Admissions committee members make their decisions independently. Then, if financial aid funds cannot cover all accepts, families could be denied aid or moved to the admissions Wait Pool.

First, a family should look at all personal avenues for meeting costs. If all available resources from both parents' full-time employment are still not enough to meet tuition costs, then the family may qualify for aid. Exceptions may be made if one parent cannot work due to disability or leaving non-school age children at home.