Financial Aid Q&A

Grants awarded to families who demonstrate a financial need for tuition assistance with the cost of affording an independent education. Schools endowments fund financial aid – generous donors give to McCallie to provide access to all deserving boys. This generosity assists parents in overcoming financial challenges they may encounter when trying to afford their son a well-rounded and robust academic experience.

Anyone can apply for financial aid, but only accepted McCallie students with demonstrate financial need, as determined by the School and Student Services (SSS), can be considered. 

The deadline to return financial aid forms to McCallie for all current and new students is in January. Although additional applications will be accepted after this date, it is possible that funds will be exhausted. The deadline for new boarding students will vary. New boarding students will be considered for financial aid depending on when they submit their application for admission and financial aid.

Due by January 15, 2021

Parent Financial Statement (PFS) must be completed and submitted to SSS. First-time applicants must also submit to SSS the following additional documentation: 2019 1040 (all schedules), W-2 and/or 1099 form(s), Business/Farm Statement (if applicable), Corporate returns and/or K-1s (if applicable), and a copy of Mortgage statement (not Interest Statement).

Due by February 17, 2021

All applicants must submit signed copies to SSS of the following required documentation: 2020 1040 (all schedules), W-2 and/or 1099 form(s), Business/Farm Statement (if applicable) and Corporate returns and/or K-1’s (if applicable). IF filing for an extension, please upload in “Additional Documents” to SSS a copy of 4868-1040 Extension.

No. Financial aid is a grant awarded by McCallie to offset the cost of your son’s education.

All admissions decisions are made without regard for financial need. 

Yes. Changes in financial status may affect the size of your award. Therefore, a new financial aid application must be filed with School and Student Services (SSS) each year. Lack of adherence to deadlines, academic ability, extracurricular involvement, character and demonstrated leadership can affect the student’s renewal of financial aid. 

The financial information you share with SSS is important and private. McCallie and SSS treat information submitted on the Parents' Financial Statement (and any follow-up tax documents) with the utmost protection, confidentiality, and security. Only certain members of the financial aid committee have access.

You can complete your Parents' Financial Statement (PFS) online (beginning October 2) at https://www.solutionsbysss.com/parents.  You will also need to express interest in financial aid on your McCallie inquiry and application. Cost of PFS is $55 per family.  

To compute and determine demonstrated need, McCallie uses School and Student Services (SSS) to calculate your demonstrated need that will be a factor in determining your financial aid award. This service uses information from the Parents’ Financial Statement (PFS) which asks for income, expenses, assets, and liabilities. The family selects 4744-school code for McCallie and submits a PFS form online.  SSS sends the Report of Family Contribution (RFC) to McCallie. McCallie’s Financial Aid Committee uses this estimate as a guideline in making awards.

Upload to School and Student Services (SSS) required documents as they become available. DO NOT WAIT TO HAVE ALL THE DOCUMENTS to begin uploading them to SSS. If there is a specific document that will impede you from adhering to deadlines, notify us at fa@mccallie.org. 

Recommendations:

• If your W2(s) will be delayed by your employer, use your 2020 final pay-stub to approximate annual income on the PFS.
• If you will be filing an extension on your tax return – upload to SSS or forward to fa@mccallie.org a copy of the 4868-1040 Extension.

McCallie expects both the custodial and non-custodial parents to participate in the application process, unless there is an official document stipulating differently.  It is up to all parties involved to communicate and participate in good faith in the responsibilities.  On extenuating circumstances, please contact us at fa@mccallie.org. The methodology of SSS factors households not individuals. The formula will also account for all sources of taxable and non-taxable income.

Each award is individualized based on the family’s demonstrated need.  There are other factors taken into consideration: availability of funds, cost of attending and strength of the applicant’s file. An applicant’s file reflects academic ability, extracurricular involvement, character and leadership. 

Financial Aid recipients are expected to maintain the highest academic standards for himself, to conduct himself in a responsible and honorable manner, and to play an active role in the daily life of the school’s community. Failure to meet these expectations will result in review of financial assistance by the Financial Aid Committee mid-year and/or at the end of the school year. 

The Tennessee Secondary School Athletic Association (TSSAA) prohibits varsity athletes from receiving financial aid or merit awards in excess of demonstrated need. (This does not apply to non-TSSAA sports such as Climbing, Crew, Lacrosse, Squash and Swimming.) 

See the TSSAA Eligibility Checklist here.

Financial aid decisions will be included for new students in their acceptance packets. Notifications to returning families currently receiving awards will be sent out in February concurrently with enrollment contracts.  If there are changes in your demonstrated need another form of notification will be sent to the family.

Books, uniforms, laptop, facility fee, travel, voluntary trip fees, bookstore charges, supplementary athletic apparel and some equipment are not included in the price of tuition. McCallie offers a limited loaner book program for financial aid recipients.

The only scholarships available are for highly-qualified day and boarding students who participate in the Michaels-Dickson Scholars Program (ONLY 9th and 10th – Domestic), which was established in 1998.  Otherwise, the assistance McCallie offers is need based financial aid as determined by the School and Student Services (SSS).

No. McCallie does not offer athletic scholarships.

The enrollment deposit varies by the tuition balance (Tuition minus Financial Aid/Merit). The deposit amount is due when your enrollment contract is submitted.

McCallie offers a variety of payment plans to make private education a reality.

Domestic Students:

• The 10-month plan*: Monthly payments are due July 1 through April 1

• The 60/40 plan – 60% of tuition is due August 1; 40% is due December 1.

• Full payment – due on August 1.

International Students:

Full payment by August 1. In addition, a minimum of $2,000 is required per semester (by August 1 and January 1) to be applied towards a student incidental account, tutoring, books, and any other incidental charges.

* There is an administrative fee per year of $250 for these payment plans.