Afford

Indexed Tuition

Indexed Tuition (IT) is the tuition affordability model at Spring Street. The purpose of IT is to sustain socio-economic diversity in our school community. We know that sustaining diversity depends on an inclusive community and that creating an inclusive environment is our shared responsibility. We are committed to working individually with families to help make our school an affordable option through Indexed Tuition, which takes into account a family’s ability to pay. If families wish to apply to pay tuition below the top of the index, they must register with School and Student Services (SSS) by the National Association of Independent Schools. This service calculates a family’s “demonstrated need,” which is defined as the difference between the calculated amount a family can contribute to the cost of the student’s education and the full cost of tuition. We are strongly committed to helping families in need as best we can, and SSS will assist our analysis by giving us a commonly defined, objective process.

FAQs

• Should every family submit an IT application? – No. Only families who feel they are unable to pay full tuition should submit an application.
• Do families apply yearly for IT? – Yes. Families must submit a new application each school year and tuition may be adjusted (up or down) depending on a family’s demonstrated need.
• Will my personal information be protected? – The school works with families individually and maintains strict confidentiality.
• What if parents are divorced? – Financial information is received from both custodial parents/guardians in divorced/separated families.
• Where do IT funds come from? – The Indexed Tuition budget is comprised of funds from the annual operating budget which primarily comes from tuition and donations.

Applying Online with School and Student Services (SSS)

• SSS information
• Go to the SSS Website, and click the link to “Create an Account.”
• For more information, see the SSS Resources page. If you need further assistance, please call the SSS helpline at 1-800-344-8328
• The online filing fee is $60. School code 1171

Guiding Principles for Families Applying for Indexed Tuition

The following principles reflect the standards of equity and fairness Spring Street and SSS embrace and the collaborative nature of the financial aid process for yielding the best result that works for our families.

1. The family seeks to apply for aid only after it has determined its own resources are insufficient to cover school costs and has exhausted the potential resources and options available to it.
2. The family is proactive in seeking information and answers to questions related to the financial aid process directly from the school.
3. The family is open and honest when completing financial aid applications and when providing any supporting documentation.
4. The family adheres to school deadlines and documentation submission requirements.
5. The family submits true and accurate tax-related documentation, such as the 1040 when required by the school.
6. The family is responsive to school requests for additional information to support the application.
7. The family understands that the school is not obligated to provide financial assistance, even if the family shows eligibility for it.
8. The family is respectful in communications with the school’s financial aid staff and administrators.
9. The family uses school-established channels for disputing or appealing a financial aid decision.
10. The family is discreet about disclosing its financial aid outcomes.
11. The family respects the privacy of other families who choose not to disclose their financial aid details or outcomes.
12. The family works to the best of its ability to arrange its financial resources to pay any determined family contribution in the timeline prescribed by the school.

FACTS Tuition Billing

Spring Street has partnered with FACTS Management Company to help us manage our tuition payment program. FACTS will process and track all tuition payments.

FAQs

•  Is my information secure? -Yes. Your personal information, including payment information, is protected with the highest security standards in the industry. For more information on security, visit  FACTSmgt.com/Security-Compliance.
• When will my payments be due? -Your payment schedule is set by your school, and your financial institution will decide the time of day your payments are processed.
• What happens when my payment falls on a weekend or a holiday? -Your payment will be processed on the next business day.
• What happens if a payment is returned? -Returned payments may be subject to a FACTS returned payment fee. Watch for a returned payment notice for additional information.
• How do I make changes once my agreement is on the FACTS system?
  -Changes to your address, phone number, email address, or banking information can be made at Online.FACTSmgt.com or by contacting your school or FACTS. Any changes to payment dates or amounts need to be approved by the school and the school will then need to notify FACTS.  All changes must be received by FACTS at least two business days prior to the automatic payment date in order to affect the upcoming payment.
• What is the cost to set up a payment plan? -If an enrollment fee is due, the amount of the fee is indicated when setting up your agreement. If applicable, the nonrefundable FACTS enrollment fee will be automatically processed within 14 days of the agreement being posted to the FACTS system. Enrollment fees range between $25-$45 depending on the plan.

FACTS Customer Service

We are committed to doing all we can to provide you with the highest quality customer service in the industry. Whether you want to view your account online or speak with one of our highly-trained customer service representatives, FACTS is dedicated to serving you. To view your payment plan details, log in to your FACTS account at Online.FACTSmgt.com. Customer Care Representatives are also available to assist you 24/7.