Affording Bolles

Bolles understands that the cost of a college preparatory program of this caliber is significant and we are committed to making this educational experience affordable to all students who meet our criteria for acceptance. Tuition pays only a portion of the actual annual cost of a Bolles education. We meet the difference through grants, donations, and investments.

Our Financial Aid Program is based strictly on financial need, rather than academic or athletic performance. Therefore, any family who has reviewed their financial situation and feels they need help paying tuition should apply for aid. Below are the answers to many of the questions you may have about financial aid and how to apply.

How do I apply for financial aid?
You may request a financial aid application from the Admission Office as soon as possible after November 15. Students currently receiving financial aid will be mailed the application automatically. The Parents’ Financial Statement of the financial aid application must be completed and mail to the School and Student Service (SSS) for Financial Aid by the end of February. Simultaneously, the applicant must forward copies of all income tax forms and schedules that were filed with the Internal. Revenue Service for the current tax year.

How is need determined?
Need is determined by the School’s Financial Aid Committee, which uses the confidential Parents’ Financial Statement, tax returns, and the School and Student Service for Financial Aid as a guide. School and Student Service collects information that is submitted by parents to assist our committee in determining need. Through all submitted materials, the committee then determines who receives aid and how much aid to grant.

Must a family have a very modest income in order to receive financial aid?
No. Net income is not the only factor used in making financial aid decisions--assets, debts, and number of dependents have a considerable influence on financial aid decisions.

How much financial aid may I expect to receive?
Each award is individualized, based upon the financial need of each applicant.

What grade levels receive financial aid?
Students enrolling in grades 6-12 may receive financial aid. New students enrolling in grade 12 and international students are not eligible for financial aid.

What if my financial situation changes?
Each year a family must reapply for financial aid. If the family’s financial circumstances remain the same, the School will make every effort to assist a family at the same level of aid.

Must I repay this award?
No. A financial award is used to offset the costs of our educational programs. These awards are grants made possible by donors, many of whom received aid themselves. It is hoped that each recipient will consider a gift to the endowment fund at an appropriate time in the future.

What if I am divorced or separated?
In the matter of divorce or separation of parents, the Financial Aid committee will consider the assets of both natural parents, if living, 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, we will consider also the assets of the stepparent, always bearing in mind the obligation of that stepparent to his or her own natural children. The non-custodial parent also must complete a Parents’ Financial Statement (available from the Admission Office). This statement and a copy of their tax returns must also be submitted.

Are decisions regarding admission and financial aid related?
All admission decisions are made without regard for financial need.

I have other children applying to or attending tuition-charging institutions. Must I also apply for financial aid from those schools?
Yes. We assume that a family applying for aid from Bolles will apply for financial aid from all tuition-charging institutions their other children may be attending. If another school does not have a financial aid program, please note that on your parents’ Financial statement.

Only one parent works outside the home. Must both parents be employed to receive financial aid from Bolles?
In general, yes, if all children in the family are in school. We also realize, however, that circumstances may make it impossible, or very difficult, for both parents to work outside the home in specific cases. Explaining such circumstances on your financial aid application, and describing the non-working partner’s plans for eventual employment, are important.  

Are there other ways of paying school expenses besides receiving financial aid directly from Bolles?
Yes. Many families arrange loans through personal banks or through education payment programs, such as the AchieverLoan, a product of Key Education Resources. For more information on this program, please contact our Finance Center.

TERMS OF ENROLLMENT

A student is entered for one year and the parent or guardian assumes responsibility for the payment of all amounts due for the entire session whether the student be suspended, dismissed or voluntarily withdrawn. If the student leaves the School, the parent or guardian understands and agrees that no part of the fees paid to the School shall be refunded and any unpaid balance for the entire year is due and payable to the School.

The School assumes no responsibility for the collection of amounts due from any person or agency other than the parent or guardian who signs the enrollment agreement.

The charges listed are estimates of expected costs. The School reserves the right to adjust these costs as circumstances warrant. Charges for support services must be paid monthly. Prompt payment assures uninterrupted cash flow to vendors and suppliers.

A finance charge of 1.50% per month (18% per annum) is applied to the unpaid support service balance and to those tuition amounts that are delinquent; minimum finance charge is $.50.

Independent education is not funded by tuition alone. Voluntary support is a key ingredient in determining the vitality of the physical and human resources found on most independent school campuses. Bolles is not unique in this regard. Gifts from parents, trustees, alumni and corporate friends have made possible our success in both Capital Campaigns (for major construction and Endowment) and the Annual Giving Campaign, which supplements the operating budget each year. We believe that each family will come to appreciate the impact of these traditional forms of support and will desire to participate in the effort as a volunteer worker and direct contributor to these needs.