Affording a JMSG Education

SSS is a third-party need analysis service that relies on economic factors to determining the eligibility of families. The SSS, like JMSG, believes a family has the primary obligation to finance their child’s education. Once a family has applied for Flexible Tuition, SSS generates a Report of Family Contribution (RFC). JMSG then applies a Bay Area Cost of Living Allowance (COLA) to determine a family's ability to pay.
Flexible tuition decisions are made based on the “total family” basis. JMSG maintains a philosophy that requires participation of a student’s entire family in funding this educational opportunity. These expectations are in effect regardless of any legal agreements between family members, such as alimony agreements, pre-nuptial agreements, divorce, custody, or other similar agreements. In cases of co-habitation, JMSG considers the entire household income, whatever the legal status of the family may be. JMSG expects parents, guardians, domestic partners, and stepparents to play a critical role in financing their student’s education. 
JMSG assumes that all adult family members will work to contribute to the investment in a JMSG education. The Committee will input income for parents or guardians who choose not to work and adjust the RFC accordingly. Families with preschool-aged children or extraordinary situation should make the Committee aware of their circumstances and explain their choice in the additional notes section of the PFS. Parents returning to school or starting a business venture or changing jobs as a personal choice must realize that a resulting decrease in their family income will not be underwritten by JMSG. In many JMSG families both parents work in order to maintain income sufficient to support an independent school education for their children. It is unfair to ask these dual employed families to subsidize the educational cost of a family who chooses, for a desired lifestyle, not to work at a level their education and ability permit.
If more than one child in a family attends a tuition-charging institution, JMSG strongly recommends families apply for aid at each of the institutions their children attend. JMSG is unable to subsidize tuition for other tuition charging schools of any type, including college. JMSG does not consider tuition paid for children beyond the undergraduate level such as a master and doctoral degrees when determining eligibility for aid.

Business
All parents who own a business will be required to upload all current business tax returns. Business owners will also be asked to furnish income statements, balance sheets and any other information relevant to the business. We do not consider business or rental depreciation or loss in the calculation of financial need. Depreciation does not reflect an actual cash disbursement or loss.

Student Assets/ Trusts/ College Funds/Inheritance
Savings, investments, trust funds, 529 funds or other assets in a student’s name or held for a student for any reason, or restricted in any way, are considered available resources for use in funding a student’s education at JMSG.

Home Equity
The SSS need analysis considers the equity a family has in their primary residence and other assets. It is not our intent to expect parents to sell their home or to take home equity to support a child’s education unless the balance of equity is significant.  However, if a family has chosen to direct discretionary income toward the acquisition of assets, rather than toward the cost of education, they will be expected to direct a larger portion of current income towards educational expenses.

Business Startups
JMSG will not underwrite a parent’s decision to finance a startup company, and in that same light, we cannot supplement income loss from a business.

 

First, consider the full cost of an independent school education. If you cannot cover expenses out of income and judicious use of assets, consider your other options, such as tapping home equity or assistance from relatives. If you are counting on gifts from relatives, it is important to discuss with them whether or not they can maintain that help over the course of your child’s attendance at JMSG.

No. Admission decisions are made independently.

Yes! Please be assured that all information will be kept in the strictest confidence. 

Yes. Each student’s need is recalculated annually. Therefore, parents are required to complete the application and upload the required documentation each year. Provided family circumstances remain the same and the school’s resources can continue to support the program to the same extent, the school intends to fund the student for three years. 

No. The Flexible Tuition award covers the cost of tuition, classroom books and materials, and field trips. Extra costs such as The Scholars Studio (after school study hall) are not included.