FAQs

What is financial aid?

Financial aid is a decrease of tuition costs, formulated on the basis of need. Although sometimes referred to as “grant” or “scholarship”, BB&N does not award “merit scholarships” (i.e. a monetary award based on either academic or extracurricular merit). All students who receive aid have families that qualify according to the School and Student Services for Financial Aid.

Who can apply?

Anyone may apply for financial aid. There is no income ceiling or minimum. For the 2016-17 academic year, BB&N awarded $7.6 million in financial aid to 233 students. All awards were based on demonstrated need.

How do I apply?

Fill out the Financial Aid Application and submit the requested materials by the deadlines indicated below.

If your child is an applicant for admission:

  • January 25, 2018 - Complete the Parents’ Financial Statement (PFS). BB&N's school code is 1930. In separated/divorced cases, both parents must submit a PFS. The PFS can be filled out and submitted online at the School and Student Services (SSS) website (www.sssbynais.org/parents) after October 2, 2017. Be sure to fill out all items fully and frankly and provide clear explanations when called for. If you do not have Internet access and/or desire assistance filling out the PFS, please call the Financial Aid Office by Monday, December 4 to set up an appointment.
  • January 25, 2018 - Upload to SSS your complete 2016 federal tax return with all schedules, 2016 W-2 forms, and a signed, dated IRS Form 4506 t-ez (available at the following website: http://www.irs.gov/pub/irs-pdf/f4506tez.pdf).
  • February 22, 2018 - Upload to SSS your 2017 Federal Income Tax Return with W-2 forms and all the attached schedules.

If your child is a current student:

Current families applying for aid for the first time should call the Financial Aid Office (617-800-2188) for information about the application process.

  • January 11, 2018 - Complete the Parents’ Financial Statement (PFS). In separated/divorced cases, both parents must submit a PFS. The PFS can be filled out and submitted online at the School and Student Services (SSS) website (www.sssbynais.org/parents) after November 2, 2017. Be sure to fill out all items fully and frankly and provide clear explanations when called for.
  • January 11, 2018 - Upload to SSS a signed, dated IRS Form 4506 t-ez (available at the following website: http://www.irs.gov/pub/irs-pdf/f4506tez.pdf).
  • By February 15, 2018 - Upload to SSS your 2017 Federal Income Tax Return with W-2 forms and all the attached schedules. A copy of your previous years' taxes should be on file.

Will applying for financial aid affect my child's chances for admission?

We encourage all families who feel they need financial aid to apply. While the admission and financial aid processes are separate, there are times when budget constraints lead to "need aware" admission decisions.

How are the financial aid decisions made?

Financial aid is awarded based on a family’s demonstrated need, as determined by a collaboration between the School and Student Service for Financial Aid, or SSS (see link in sidebar at right) and BB&N’s financial aid committee. Calculations are based primarily on:

  • the incomes of both parents
  • the family’s assets
  • the age of both parents
  • the number of dependents
  • the number of children in tuition-charging schools (BB&N does not include graduate school tuition for family members in our computation).
  • The information from the SSS is supplemented by information gleaned from each family’s federal income tax return as well as the explanations provided on the PFS by each family. We use the SSS analysis of a family’s need as a guideline but are not bound by that estimate of need. We do make every effort, subject to the availability of financial aid funds, to provide for the demonstrated need of our students.

If my child is admitted but not awarded aid, might we receive aid the following year?

It is very unlikely. We aid as many students as we feel we can continue to support through their years at BB&N. Our first obligation is to our currently enrolled students. There is little chance that a student enrolling without aid would be awarded aid in any subsequent year, without significant changes in that family’s financial circumstances.

If we are offered aid and decide to enroll at BB&N, can we expect approximately the same level of aid in future years?

Yes, provided your financial situation does not change. Because financial aid decisions are reviewed each year, families receiving aid must, each year, submit information (the PFS and the 1040) establishing need for the next academic year.

Must I reapply for aid next year?

Yes. You will need to submit your Parents' Financial Statement and income tax return.

What payment plans are available?

All families may also take advantage of payment plans through Tuition Management Systems which allows families to pay tuition in smaller, manageable monthly installments.

Tuition Management Systems: https://www.afford.com/

What if I am a single parent?

BB&N requires complete financial information from both the custodial and non-custodial parents, including the Parents’ Financial Statement form and tax forms. This information is collected in an attempt to determine the ability, not the willingness, of each parent to financially support their child’s education. If the whereabouts of the non-custodial parent are unknown, a good-faith effort must be made to locate him or her. In most cases, a letter from a third-party (such as a teacher or minister) will be required to verify that the noncustodial parent has no contact with the applicant.

What if I am self-employed?

Parents who are self-employed, or who own a business or farm should complete the Business and Farm Statement section of the PFS to SSS and include their business taxes with their income tax.

What if I have more than one child applying to BB&N?

One set of forms is sufficient, even if your children are applying to different grades in the school.

Is financial aid available for supplemental costs?

BB&N makes every attempt to give each student access to the opportunities the School offers. A Book Grant is applied to Middle and Upper School financial aid packages to help defer the cost of books. Additionally, financial aid is available for activities such as World Language Department’s trips, summer opportunities, academic support, and class field trips and events. Students apply and awards are based on the percentage of funding they receive for tuition. In addition, we have a program that grants computers to students from 5th to 12th grade who meet certain financial criteria. These supplemental grants are all subject to the availability of funding.

Financial Aid Deadlines

If your child is an applicant for admission:

January 25, 2018: Complete the Parents' Financial Statement.

January 25, 2018: Upload to SSS your complete 2016 federal tax return with all schedules, 2016 W-2 forms, and a signed, dated (2016,2017) IRS Form 4506 t-ez.

February 22, 2018: Upload to SSS your 2017 Federal Income Tax Return with W-2 forms and all the attached schedules.

If your child is a current student:

Current families applying for aid for the first time should call the Financial Aid Office for information about the application process.

January 11, 2018: Complete the Parents' Financial Statement.

January 11, 2018: Upload to SSS a signed, undated IRS Form 4506 t-ez.

By February 15, 2018: Upload to SSS your 2017 Federal Income Tax Return with W-2 forms and all the attached schedules.

For additional information, see "How do I apply?" under FAQs.

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