Availability
Financial aid is available to students in all grades (6-12) at Dunn School.
Evaluating Need
Dunn School follows the guidelines of the National Association of Independent Schools (NAIS) Principles of Good Practice for Financial Aid Administration. Financial Aid decisions are based on a family’s ability to finance their child’s education based on the methodology of Clarity Tuition.
Within the limitations of its budget, and according to its own financial aid policies, Dunn uses the Clarity recommendation as a guideline in determining individual awards.
Dunn School has adopted the following policies and computation guidelines:
Parental Obligation
Recognizing that each family bears the primary responsibility for financing a student’s education costs, it is the position of Dunn School that biological/legal parents whether separated or divorced retain the obligation to contribute to the education of their children. Expectations are regardless of any legal agreements, including custody, pre-nuptial, alimony, or child support. In the case where a parent is “absent” or his/her parental rights have been terminated, the School must receive a statement to this effect from a lawyer, member of the clergy, school official or other third party for verification.
If a biological/legal parent has remarried, Dunn will require all paperwork, including tax documents, from both individuals, bearing in mind the obligations the other individual might have to his or her natural children.
All forms will be sent to the custodial parent, and the custodial parent should forward them to the non-custodial parent. If the non-custodial parent refuses to submit the necessary information to the Financial Aid Office, the application for aid may not be processed.
Multiple Tuition Charging Schools
If one or more child in a family attends a tuition-charging institution, Dunn requires that families apply for aid at each of the institutions their children attend. It is important to note that Clarity computes the total funds available for education then pro-rates the available funds in proportion to the tuition expenses for each child.
Student Assets
Savings, investments, or other assets in a student’s name are considered available resources for use in funding a student’s education at Dunn. When determining available resources, the students’ assets will be equally distributed over their years at Dunn, plus four years of college/university.
Other Financial Resources
Any financial support that may be available beyond the parents’ own income and assets must be reported on the PFS and Dunn Parent Questionnaire for consideration by the school. These include resources that might be expected from grandparents or other relatives, church funds, direct scholarship grants, etc. Identified funds will be included in the calculation of family contribution, decreasing the financial need of the student and therefore the amount of a Dunn financial aid award.
Business and/or Farm
If either parent owns a business or farm, the business or farm should be listed as an asset in Clarity and the required schedules must be submitted with the Tax Return. Tax documents for partnerships and corporations are also required (Schedule K-1, Form 1065, Form 1120, or Form 1120S).
The Financial Aid Office reserves the right to request additional information, including but not limited to, cash flow statements, balance sheets, and any other information relevant to the business, if necessary to determine financial status.
Business losses and expenses that do not affect cash flow (such as depreciation and home office write-offs) may be disallowed when computing financial need.
Any adjustments in income as a result of these add-backs will be treated as non-taxable income.
Award Appeal Process
While the Financial Aid Committee will consider appeals, it must do so within the limitations of available funding.
Appeals to the Financial Aid Committee must be made prior to the submission of a signed enrollment contract. All appeals must be made in writing with a full explanation of any mitigating circumstances or information not addressed during the initial process. The Committee will review the appeal and notify families of the decision in writing.
Recognizing that each family bears the primary responsibility for financing a student's education costs, NAIS's Principles of Good Practice for Financial Aid Administration are designed to serve as guideposts in the development of professional policies and orderly procedures among schools. Through these principles, NAIS affirms its belief that the purpose of a financial aid program is to provide monetary assistance to those students who cannot afford the cost of attending an independent school. Furthermore, these principles reflect the standards of equity and fairness NAIS embraces and reassert NAIS's ongoing commitment to access and diversity.