Financing Your Education

Tuition | Financial Aid | Financial Aid Application Process | Annual Fund

Tuition

Kindergarten – Grade 3: $22,535
Grades 4-6: $24,010
Grades 7-8: $25,890
Grades 9-12: $25,890

Extended Day:
Per year per child full time: $3,400
Per year per child part time: $1,700

The Potomac School offers several payment plans or financingl options.

Option 1: Full tuition paid by July 15
Option 2: 65% of tuition, plus deferred payment fee, paid by July 15; 35% balance paid by January 1
Option 3: Ten monthly payment plan (May - February)

Financial Aid

Potomac School provides need-based financial aid to assist families with tuition and related costs. In the 2006-2007 school year, Potomac granted over $2.4 million to 14% of the student body. Grants to families are based on financial information submitted to the School and Student Service for Financial Aid in Princeton, New Jersey. Their guidelines, which are used to determine the level of need, take into account current income and other family assets and liabilities. Application for aid must be filed by February 1, 2008.

Please indicate on your admission application if you would like to receive a financial aid form. Along with a letter confirming receipt of your application, we will send you all the information needed to file for financial aid. 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.

In order to keep Potomac available to families of varying economic backgrounds, 11% of the total school budget is allocated to financial aid for children of families who demonstrate financial need.

We follow guidelines of the School and Student Service (SSS) for Financial Aid to determine financial aid need. Grants are made for one year but may be renewed upon evidence of continuing need. The financial aid application will be mailed to you from the Admission Office if you indicate on your admissions application that you are interested in receiving aid. Apply immediately once you have received the financial aid form. If you have any questions about how to apply for aid, please call our office at (703) 749-6313.

Your child's admission to Potomac will be handled separately from the granting of financial aid. You will hear about admission in mid-March. If we are able to offer your child a place at Potomac, the admission letter will state that you can hold the admission contract until you have heard whether you will be receiving aid. A decision on financial aid should come shortly after the letter from the admission office.

APPLICATION FOR AID SHOULD BE FILED BY FEBRUARY 1.

Financial Aid Application Process

  • Where tax information is needed, use the numbers from your 2007 return form 1040.
  • When completing the Parents' Financial Statement form (PFS), be sure to indicate Potomac's School code.
  • Mail the original of the (PFS) to Princeton, New Jersey. The address is on the front of the form or you can use the envelope stapled in the booklet.
  • Mail one copy of the PFS form, a copy of your 2007 tax return form 1040 with W-2's and any completed schedules to Potomac's financial aid office. Keep a copy of the PFS form for your own records.
  • As soon as you have your W-2 for 2006 and you have completed your taxes for 2007, mail Potomac's financial aid office copies of the new tax return and schedules.
  • Once SSS has analyzed your PFS statement, SSS will send the financial aid office a Report of Family Contribution School Report (RFC). The 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.

 

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.