Financing Your Education

Tuition for the 2012-13 Academic Year

Kindergarten – Grade 3: $29,055
Grades 4-6: $31,185
Grades 7-8: $33,440*
Grades 9-12: $33,345

*Intermediate School students are issued a laptop for individual use.

Extended Day:
Per year per child full time: $4,175
Per year per child part time: $2,090

The Potomac School offers several payment plans or financing options.

Option 1: Full tuition paid by July 1
Option 2: Tuition paid in two installments of 65% tuition and 100% of fees by July 1 and the remaining 35% of tuition by December 1
Option 3: Ten monthly payment plan (May - February) through FACTS.

Financial Aid

Mission Statement:
Education has the power to transform the individual and society. We believe that Potomac's legacy of teaching to the whole child, placing equal emphasis on character, the arts, athletics and a demanding academic program prepares our students to lead exemplary lives. Financial aid ensures that all qualified children of varying social and economic backgrounds have the opportunity to attend Potomac. Parents have an obligation to finance their child's education to the extent that they are able; therefore, Potomac's financial aid program is based solely on financial need.

Assistance Provided:
The Potomac School is committed to maintaining a student body that reflects the varied economic background of the metropolitan area.  The Board of Trustees has established a generous financial aid program for the School, allocating 11% of tuition and fees to financial aid for children of families who demonstrate financial need. The program provided financial assistance to 18% of our students in the 2012-13 school year, totaling over $3.8 million. 

We follow the National Association of Independent School guidelines for financial aid to determine need.  School and Student Services (SSS) guidelines, which are used to determine the level of need, take into account current income and other family assets and liabilities. Grants are made for one year but may be renewed upon evidence of continuing need.  Applications for aid must be filed by February 1, 2013 for students new to Potomac.

All financial aid information is confidential. Decisions on admission bear no relation to requests for financial aid. If any fees connected to the application process pose a hardship, please contact the Admission Office.  

APPLICATIONS FOR FINANCIAL AID SHOULD BE FILED NO LATER THAN FEBRUARY 1, 2013.

The Financial Aid office is available throughout the year for conversations about assistance for school - related expenses. Contact Charlotte Nelsen at (703) 749-6313 or cnelsen@potomacschool.org.

Financial Aid Application Process for Prospective Families

1. Go to the School and Student Services for Financial Aid (SSS) Web site to apply online for financial aid. The deadline to apply is February 1, 2013.
   
2. When completing the Parents' Financial Statement form (PFS), be sure to indicate Potomac's School code 5872.
   
3. Where tax information is needed, use the numbers from your 2012 tax form 1040 and/or year-end pay statement.
   
4. If your 2012 tax information is not available by February 1, please estimate your 2012 data as accurately as possible.  Grants are based on information submitted at the deadline and are subject to change upon submission of final tax returns and new information that adjusts your family’s financial picture. 
   
5. Mail copies of your 2011 and 2012 tax returns: form 1040 with W-2's and any completed schedules to SSS and to Potomac's Financial Aid Office. Keep a copy of the forms for your own records.
   
6. Once SSS has analyzed your PFS statement, SSS will send the Financial Aid Office a Report of Family Contribution School Report (RFC). RFC will help our financial aid office determine the financial need of each applicant. We recommend you request a copy of the RFC for your own records. The deadline to apply is February 1, 2013.

Please note the following due dates and requirements for financial aid consideration.

Required documents from each household:

1. SSS Parents’ Financial Statement (PFS) online (sss.nais.org) [By February 1, 2013]
   
   -- If you are unable to apply online, please call the Admission office for a printed PFS.
   -- Print and mail a completed copy to Potomac

2. 2011 tax documents:
   
   -- 2011 W2s and 1099s [By February 1, 2013]
   -- Complete 2011 tax return, 1040, schedules, and forms

3. 2012 tax documents:
   
   -- Complete 2012 tax return, 1040, schedules, and forms (as soon as available)

* Grants are based on information submitted at the deadline and are subject to change depending on current year tax returns and new information that adjusts your family’s financial picture.

• Copies of all tax forms must be submitted to SSS and to The Potomac School.
  
  -- SSS by NAIS, PO Box 449, Randolph, MA 02368-0449
  -- The Potomac School, 1301 Potomac School Road, McLean, VA 22101

Assistance:

• SSS Helpline (800-344-8328) can assist with any questions regarding the PFS. 

Guidelines:

• Potomac’s SSS school code (5872) is required for your financial aid file to be sent to our office.
• Only one PFS is needed for each family, no matter how many children are applying for aid.
• Parents who are divorced, separated, or have never been married must complete a PFS for each household, regardless of custodial arrangements.
• If all children in the family are school age, Potomac generally expects both parents to be employed and will use a formula adding a dollar amount to compensate when this is not the case.
• Because tuition assistance is based on a family’s ability to pay, the income and resources of both parents and/or stepparents must be considered.
• Be sure to explain special circumstances in the area provided in order to give the financial aid committee a clear picture of your family’s financial situation.  Failure to do so lessens your likelihood of receiving financial aid or may affect the amount offered.
• Admission decisions are handled separately from the granting of financial aid and will be mailed in mid-March; acceptance letters will state that families can wait to complete the admission contract until after they have heard whether they are receiving aid.

Financial Aid Contact

In order to best serve our families, we encourage open conversations regarding your financial situation.  If we can assist you in any way, please feel free to contact our office.

Charlotte Nelsen
Director of Admission and Financial Aid
cnelsen@potomacschool.org
(703) 749-6313

Annual Fund

Like most independent schools, Potomac’s operating expenses exceed the revenue from tuition and fees. As a non-profit, independent educational institution, we depend on our parents, alumni, and friends for voluntary support. All parents are asked to contribute to the annual giving program that helps balance our operating budget. All contributions are tax-deductible.