Tuition and Financial Aid

Tuition for the 2008-2009 school year is $15,382.

Investing in Your Child’s Future

Financing the tuition for an independent school education is not always easy, but it is possible. Unfortunately, many families do not consider independent schools because of the high cost of tuition. An independent school education can be costly, yet the cost may not be as large a barrier as many assume. As a Quaker school, Buckingham Friends strives to provide educational opportunities to students of varying financial resources. We believe we offer opportunities for your child which are well worth the cost. A BFS education is an investment in your child’s future. In selecting a school, parents should choose one that can best meet the educational needs of their child, and then look into the possible ways to pay for that tuition.

Need-based Financial Aid

Buckingham Friends School believes that a child’s family bears the primary responsibility for the cost of the child’s education. Because not all families can afford to pay this cost, we offer financial aid grants to families who qualify, based upon their financial circumstances. These grants do not have to be repaid. Our financial aid program is designed to help bridge the gap between what a family can afford and our tuition. Although Buckingham Friends School sets aside a significant amount of its budget for financial aid, we are not always able to meet all the needs for which families apply.

The amount of financial aid offered will vary from one family to another because each family’s needs are looked at individually. Financial aid could be as high as 100% of tuition, but only in rare and exceptional cases. The Financial Aid Committee expects each family to contribute the maximum amount they are able towards tuition.

Calculating Financial Need

Buckingham Friends School uses a standardized calculation formulated by the School and Student Service for Financial Aid (SSS) in Princeton, NJ. This system considers gross taxable and non-taxable income, assets, liabilities, family size, and the number of children in tuition-charging schools. After an allowance for basic necessities and required taxes, a percentage of the remaining funds are considered available for education. In most cases, the more you earn, the greater the expected contribution.

While our calculation will be based on these factors, it will differ somewhat from the SSS calculation, which is a suggested guideline. Schools are encouraged to make adjustments based on each family’s own financial circumstances. We also disallow losses and certain depreciation expenses on second homes, and we make adjustments for non-working parents and the cost of living factor for our area.

Payment Plans

Buckingham Friends School offers three payment plans to give families maximum flexibility in paying for their child’s education. All of our payment plans require a deposit when the enrollment agreement is submitted.

1. Single Payment Plan. The balance of tuition is due by August 15 for the school year beginning in September.
2. Two Payment Plan. One-half the balance of tuition is due by August 15, and the second half is due by the following January 15.
3. Monthly Payment Plan. The balance of tuition is due in ten equal monthly installments, beginning in July, for the school year beginning in September, and ending in April. There is an additional charge of $100 for using the monthly payment plan. This plan is only available through a direct debit from your checking account.

Loans

BFS does not offer loans to pay for tuition, but a loan may be practical for your financial circumstances. The decision to borrow money for an elementary school education must be made independently by the family. Upon request, we will provide information from companies which offer loans.