Frequently Asked Questions
1. Can my family qualify for financial aid?
Below are illustrations showing approximate levels of minimum income at which a family would first be expected to begin contributing the first dollar towards the cost of education. Also shown is the maximum income, an amount above which a family would no longer qualify for financial aid. These illustrations are only guidelines. Actual numbers will vary based on your family’s circumstances and funds available.
Number of Parents | Number of Children | Minimum Income | Maximum Income |
|---|---|---|---|
1 |
1 |
$51,300 |
$132,000 |
1 |
2 |
$57,600 |
$138,200 |
1 |
3 |
$69,000 |
$150,500 |
1 |
4 |
$79,500 |
$160,000 |
2 |
1 |
$58,000 |
$135,500 |
2 |
2 |
$68,000 |
$146,000 |
2 |
3 |
$78,000 |
$156,000 |
2 |
4 |
$87,000 |
$165,500 |
The above table is based on the following assumptions:
- All parents work
- One income is at $12,000
- Parent(s) age is 45
- Net worth of $75,000
- One child in private school
- Cost of living adjustment for Philadelphia area of 1.26
2. Will we receive financial aid if our family qualifies?
Not necessarily. Because our budget is limited, we try to use our financial aid dollars where they are most needed. Continuing students get priority over new students for financial aid. Families who apply later than our deadline have a lower chance of receiving aid than families who have applied on time.
3. If my family’s income is below the maximum income shown in the table, does that mean we qualify for financial aid?
No, every case is looked at individually. Because of differences within each family, and because of adjustments which may be made, it cannot be assumed that a family with income as shown in the table will qualify. Variables include net worth, debts, unusual expenses, number of children in private school, and if there are two parents, whether both work. The table shown above is presented only as a general guideline.
4. What kind of financial aid awards can we expect in following years?
Financial aid awards are subject to review annually, and families must file new applications each year. When we grant financial aid to a family, we make a commitment to that family to provide aid for as long as their child is attending BFS, as long as the family’s financial circumstances do not change substantially. The cost of tuition increases is shared between the School and the family.
5. Are there any special obligations or performance requirements for students who receive financial aid?
No, there are no extra work or other requirements for financial aid recipients. Every BFS student is expected to do their best and maintain the strong academic and personal qualities evidenced upon admission, and financial aid recipients are no different.
6. Are other families, teachers, or staff members aware of who receives financial aid?
No, only the Financial Aid Committee (comprised of the Head of School, and the Business Manager) has this information.
7. What amounts of financial aid awards have been granted?
While awards vary widely due to family circumstances, below is a range of amount awarded for the current school year:
Family Income | Awards |
|---|---|
$0 – 40,000 |
$9,700 – 10,000 |
$40,001 – 60,000 |
$8,500 – 12,600 |
$60,001 – 80,000 |
$8,500 – 13,400 |
$80,001 – 100,000 |
$4,000 – 8.600 |
$100,001 – 120,000 |
$6,700 – 12,900 |
$120,001 + |
$5,500 – 9,500 |