The formula used by the Clarity Application to calculate the exact tuition level is complex and considers many factors that affect a family’s ability to pay. The information that follows is designed to give families a general idea of some of the major factors that influence where a family may fall within our tuition assistance. It is impossible for the school, or the family, to determine the exact level of tuition unless the entire tuition assistance application is completed.
Income: Income means pre-tax income from wages, business, or investments. The formula that determines a family’s ability to pay considers expenses that differ from those used by the IRS to calculate taxable income. Therefore, all tax schedules must be submitted. If parents reside in separate households, the income and expenses of both households are considered in the calculation.
Assets: If a family has major assets, savings, and/or investments, the formula computes an income supplement that is added to the gross income. Should the student have assets (savings, trust accounts, etc.), these assets are considered in the amount that parents can pay. The income assumed to be generated by assets also takes parent age into account with respect to consideration of retirement savings.
Family size: Living allowance estimates take into account the number of people in a student’s household(s) and bases estimated necessary expenditures for housing, food, medical needs, etc., on this number. Income is adjusted by these expenses to calculate the available discretionary income.
Unusual expenses: The formula for determining the family contribution for educational expenditures takes into account certain “unusual expenses,” such as expenses for the care of an aging grandparent, parent educational loan payments, and a number of other expenses listed in the application instructions for the Parent Financial Statement (PFS).
Other discretionary costs: The formula expects a family to allocate only a portion of discretionary income to tuition payments.
Number of independent school or college tuitions currently being supported: The ability to pay is divided by the number of tuition-paying family members at any elementary school, high school, or undergraduate college to determine the tuition for any one student.
Cost of living adjustment: Brandeis makes a cost-of-living adjustment for San Francisco to reflect a Bay Area family’s ability to afford an independent school education. The report that a family receives from SSS does not include this adjustment.