Financial Aid FAQs

1. What is Financial Aid? Financial Aid is monetary assistance given to a person or family for an intended reason, based upon a program’s intent and requirements.
2. Will my child’s chances for admission be handicapped if I apply for financial aid? All students making application for admission to Breck are afforded equal consideration for admission and have equal access to available places in the grade of interest. This is termed "need-blind" acceptance.
3. What is SSS and what role does it play in the financial aid process? SSS (School and Student Service for Financial Aid) is a program sponsored by NAIS (National Association of Independent Schools), of which Breck is a member. SSS collects and analyzes a family’s financial information from their Parents Financial Statement form. SSS then sends to Breck a Report of Family Contribution, which recommends a dollar amount that parents should contribute toward the cost of their child’s education. Breck’s Office of Financial Aid considers the RFC report in conjunction with the School’s policies regarding financial aid. The recommendation is not binding on the school.
4. How does SSS determine a family's degree of need? SSS includes a number of factors: gross income, effective income, adjusted effective income, assets, discretionary income, unusual circumstances, and size of family in determining a recommended family contribution.
5. What does it cost to submit an application to SSS?  Regardless of the number of children in a family pursuing admission, the fee for submitting an application online is $35.  Parents applying online may charge the fee on a credit card. The fee for filing a hard copy application via the mail is $42 per family.  Parents are able to pay by check or money order.  
6. Are students receiving financial aid required to work on campus or expected to maintain certain performance standards different from students whose parents pay full tuition? Breck does not subscribe to the concept of a work/study program for any of its students.  All students, whether paying full tuition or receiving financial aid, are held to the same academic and other performance standards. The school does not identify in any way those students receiving financial aid.
7. If only one parent works outside of the home, will the student be considered for financial aid? If there are no small children in the home during the day and a parent chooses not to work outside the home, it is considered a voluntary decision. Breck cannot subsidize this decision. In such cases, a salary commensurate with the non-working parent’s earning potential will be assigned and added to the family’s financial information as "taxable income." This would also hold true if a parent makes the decision to return to school—undergraduate or graduate—or to resign from the work-place in order to become self-employed.
8. If my child lives with a guardian, what information will the Office of Financial Aid require? Varying circumstances exist in cases of guardianship and, therefore, each situation is reviewed on an individual basis.  A guardian should make contact with the Director of Financial Aid as soon as possible to discuss their particulars.
9. If we cannot pay the determined Parents Family Contribution, what options are available? There are possible avenues for funding such as a family’s bank or a lending institution that has a payment plan program for parents with children in college preparatory, tuition-bearing schools.
10. Who will review my financial aid application and determine the amount of assistance that my child will receive? Once the Director of Financial Aid receives and reviews the SSS Report of Family Contribution, a recommendation will be made to the school’s Financial Aid Committee based upon the School’s policies and availability of funds.
11. What is a Financial Aid Waiting List? Each year, more families apply for admission to Breck and qualify for financial aid than the budget can accommodate.  When this occurs — given the nature of "need-blind" acceptance — a student can be accepted for admission and offered a place in the desired class but, yet, placed on a Financial Aid Waiting List.  It is maintained throughout the spring and summer months in case any previously-grant dollars are declined and become available.  It is the parents who make the decision whether or not to accept a Wait List position for a grant.
12. If a current family did not make application for financial aid at time of entry to the school in a previous year, or if application was made at that time but aid denied, is it permissible to make application in a subsequent year if necessary? A family may make application in any year that they feel necessary.  Failure to have demonstrated need in a previous year does not automatically preclude doing so and perhaps qualifying in a subsequent year.