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Tuition vs. Cost of Attendance
Tuition
Activity fee
Tuition refund policy
Books
Athletic fees
Transportation costs
Class field trips/school trips/various programs
Common Abbreviations Used
SSS – School and Student Service for Financial AidPFS – Parents Financial StatementRFC – Report of Family ContributionFC - Family ContributionFN - Financial Need
Online
Paper
The Financial Aid Process
Understand the financial aid philosophy
Understand the methodologies employed
Know the key financial aid season dates – they are school specific
Know the complete list of documents to be submitted to the school and their financial aid partner (if applicable)
The Financial Aid Process
After Nov. 1, 2012 you can begin the process of completing the PFS online
Submit the PFS electronically to SSS
Upload the 4506-T using the “Manage Documents” tab
Upload the 2011 tax return and supporting documents*
Complete the 2012 tax return and supporting documents*, then upload using the “Manage Documents” tab
* - Supporting documents include W-2’s & 1099’s
Key Financial Aid Dates
2/1/13 Admission application deadline (first wave)
2/1/13 Financial aid application deadline
3/10/13 Admission/financial aid common notification
4/10/13 Candidates’ reply deadline
2/2/13 Begin rolling admissions
What Information Do I Need? Where Do I Send It?
You will need the following:
SSS
Parent Financial Statement (PFS) Online
Document Cover Sheet for paper only, else
follow upload instructions
2012 & 2011 tax return Upload - "Manage Documents Tab"
2012 & 2011 W-2's Upload - "Manage Documents Tab"
2012 & 2011 1099's Upload - "Manage Documents Tab"
4506-T (complete top portion) Upload - "Manage Documents Tab"
Business/Farm Statement Upload - "Manage Documents Tab"
(if applicable)
Effective Income……
Total IncomeLess:
Federal Income Tax
FICA Tax Allowance
State Taxes
Employment Allowance
Medical Allowance
Unusual Expenses____________=Effective Income
Income Supplement……
Parent AssetsResidence Equity
Other Real Estate Equity
Business/Farm Share
Bank Accounts
Investments- Debts____________= Net Worth Income Supplement
What if I have more than one child at a tuition-charging school?
Kingswood Oxford School will prorate the family contribution.
Child A – Applying for financial aid at Kingswood Oxford School
Tuition - $33,675
Child B – Applying for financial aid at Independent School B
Tuition - $42,150
Your family contribution (per RFC) is $14,150
Your adjusted family contribution per Kingswood OxfordSchool’s modified RFC is $6,284.
Payment Options
Payment Option 1 – Total tuition paid by 7/1/2013 (1% discount)
Payment Option 2 – 60% by 7/1/2013 & 40% by 11/1/2013
Payment Option 3 – 10 Month payment plan* (Smart Tuition)
*Requires a $45 administration fee
Tuition Refund Plan – Administered by A.W.G. Dewar, Inc.
Lender in the K-12 Market
Your Tuition Solution (www.yourtuitionsolution.com)
800.920.9777
SLM Financial - SallieMae (www.salliemae.com) 888-272-5543
Kingswood Oxford School does not provide financial advice. The above loan provider is listed as a resource for parents of K-12 students and can be viewed at nais.org. You should consult a professional financial advisor to
determine if a student loan is the right choice for your financial situation.
Important SSS Contact Information
Customer Service Center for Parents: 800-344-8328 (Mon-Fri: 9 am - 8 pm.)
www.sss.nais.org – then select SSS by NAIS from NAIS Sites menu
Mailing Address for Submitting Paper PFS and for Submitting Required Documents:
School and Student ServicesP.O. Box 449Randolph, MA 02368-0449
For overnight mail, use this address: School and Student Services, 437 Turnpike Street, Canton, MA 02021.
The link from that site to the Parents' Financial Statement (PFS) will not be live until Nov. 1, 2012.
Merit Scholarships
Tuition discounts based on a student’s ability
Example: Martin-Nicholson Merit Scholarship
Prospective freshman
A- grade point average in 8th grade
>79th percentile on entrance test (SSAT)
Positive contributions to community
Helpful Web Sites…www.nais.org - National Association of Independent Schools
www.caisct.org - Connecticut Association of Independent Schools
www.isminc.com - Independent School Management
www.sss.nais.org - School & Student Service for Financial Aid