Financial Aid & FAQs
Westminster School is committed to helping families afford an independent school education.
Each year approximately 15% of our families receive some form of need-based financial assistance. Financial aid awards are based on the guidelines of the School and Student Service for Financial Aid (SSS), an organization associated with the National Association of Independent Schools. Aid is applied for and awarded annually. Early financial aid application is encouraged. The final decision regarding financial aid awards is made by the school’s Financial Aid Committee. Requests for financial aid have no effect on admission to Westminster School.
For more financial aid information, please contact Debby Graham, director of finance and financial aid, at (405) 524-0631, ext. 122 or by email.
All families applying for financial aid are required to upload or mail the documents below to SSS (School and Student Services) before a financial award can be offered. If you choose to mail the documents, please see the address below.
- Westminster School Financial Aid Information Form
- Parents’ Financial Statement (PFS) filed with SSS. This form should only be completed through the SSS website after your child has been admitted to Westminster School.
- Completed and signed 2016 tax return (Form 1040 with all supporting schedules)
- (New applicants are required to submit two years of tax returns with initial application.)
- 2016 Form W-2s
- 2016 Form 1099s
- Business tax information (if applicable)
- Completed and signed 2016 student tax return (if applicable)
- Two current pay stubs from each wage earner
- Signed IRS Form 4506T
Mail documents to:
School and Student Services
PO Box 449
Randolph, MA 02368
- How do I apply for financial aid?
- How is financial aid determined?
- Is financial aid automatically renewed each year?
- Are there special instructions for parents who request aid for more than one student at Westminster School?
- What happens if parents are divorced, separated, or never married?
- What is the deadline for applying for financial aid?
- If one parent does not work, how will that affect our financial aid award?
- When will I be notified of my award?
- What should I do if I have additional questions about financial aid?
- What is the General Policy Statement?
Once your child has been admitted to Westminster School, you may request the appropriate forms from the Director of Financial Aid. Westminster School requires that the family file a Parents’ Financial Statement (PFS), which is the official application provided by the School and Student Service for Financial Aid (SSS). (If you are a returning Westminster family, the appropriate forms are accessible in the “Inside WS” section of this website.) In addition to the PFS, Westminster School requires families to submit the Westminster Financial Aid Information form, a signed copy of your current Federal Income Tax Return and all supporting schedules, copies of two current pay stubs, W-2 forms, Form 1099’s, and if applicable, partnership/sole proprietorship and/or corporate returns, to the Financial Aid office. All information related to the parents’ financial circumstances will be treated confidentially. These forms will only be used to arrive at a fair determination of financial need.
Financial need is defined as the difference between what it costs to attend Westminster School and what a family is able to pay. The Report of Family Contribution is sent by SSS to Westminster School (and to the family if they so request). It provides the school with a general assessment of a family’s ability to pay for education. Major factors determining financial aid include, but are not limited to, income, assets (including home equity, college funds, and investments), family size and the number of children attending tuition-charging institutions.
In its financial aid deliberation, Westminster School considers the income and assets for both the custodial and non-custodial parent. Both parents, as well as spouses of remarried parents or other adult wage earners living in the home, should provide financial information as part of the financial aid application. It is necessary that both parents and their current spouses, if any, complete separate PFS forms.
For the 2017-2018 school year, Westminster School asks that parents apply online to SSS by the following dates: Primary Division (entering 3-Day,5-Day,and Kindergarten) no later than February 14, 2017. Lower and Middle Divisions (entering grades 1-8) no later than March 6, 2017. A copy of the signed 2016 IRS Form 1040 and all supporting tax schedules plus W-2s should be uploaded or mailed directly to SSS. No financial aid award will be made until a student has been admitted to Westminster School and all necessary documentation has been received.
Since it is our belief that families bear the primary responsibility for financing the education of their children, it is our policy to expect both parents to contribute financially. When a parent or guardian does not have an earned income, Westminster School will impute earnings of $15,080. ($15,080 approximates a full-time job at minimum wage.)
Westminster School (the “School”) offers financial aid to assist students who could not otherwise afford to attend. Financial aid awards are based on the underlying assumption that parents and guardians have an obligation to finance their children's education to the extent they are able. In the administration of its financial aid program the School does not discriminate on the basis of race, color, religion, sex, national and ethnic origin, or physical disability. The School’s financial aid funds are limited. Funds are reserved for families who have no alternative to requesting aid.
Financial aid may be requested to apply toward payment of tuition and, for a student in the primary or lower division, toward payment of after-school program fees. Financial aid is not provided toward payment of any other fee, such as fees for enrollment, field trips, electives, books, and supplies.
Any financial aid award is based on a family’s demonstrated need. The most significant factors in determining need are family income and assets. Family income includes both parents, stepparents, guardians and any other adult wage earners who may be living in their home(s). Several other factors are considered in evaluating a family's financial strength including home equity, investments, and educational expenses of all family children and extraordinary expenses.
The School requires all applicants to submit an application form through the School and Student Service for Financial Aid (SSS), as well as submitting completed IRS Form 1040, including all attached schedules and W-2s for the year immediately preceding re-enrollment or new admission. New applicants are required to submit two years of tax returns with the initial application. If self-employed, you will be required to submit a Business/Farm Statement. Assets held in trust may require additional documentation and the School may require other information as requested at the discretion of the Financial Aid Committee. Financial aid is not automatically renewed. A new application must be submitted each year. However, if financial circumstances do not change between years, families can expect to receive comparable aid each year. If the family’s financial situation changes after the application and other supporting materials have been submitted, then the change must be disclosed and additional documentation concerning the change must be submitted.
The final decision regarding financial aid awards is made by the Financial Aid Committee. The School reserves the right to review each application on a case-by-case basis. All applications and awards are confidential.
ADDITIONAL EXPLANATION FOR PARENTS WHO ARE SEPARATED, DIVORCED, OR NEVER MARRIED
In its financial aid deliberation, the School considers the income and assets not only of the custodial parent but also the noncustodial parent. Both parents, as well as spouses of remarried parents or other adult wage earners living in the home, should provide financial information as part of the financial aid application.
If the custodial parent cannot locate the non-custodial parent, or the non-custodial parent has provided no support and has had no contact with the family for at least two years, forms may not be required. However, a letter of verification from a disinterested third party (DHS, minister, attorney, etc.) or other appropriate documentation may be required to support the financial aid application. All information submitted is confidential and will not be shared with either family. The School will not be able to review an application until all required information is complete. Notwithstanding the foregoing guidelines contained in this section, Westminster School reserves the right to review these situations on a case-by-case basis.
FINANCIAL AID POLICIES
1. All families will be required to furnish the Financial Aid Office a copy of the following:
New applicants are required to submit two years of tax returns with the initial application.
The above information is required before a financial aid award is credited.
- Wage earners who are self-employed will be required to furnish current business tax information. For those having formed partnerships, limited partnerships, corporations, or other business entities, the School will need copies of the applicable business tax returns and an SSS Business/Farm Statement. The School reserves the right to request any additional financial information such as balance sheets, cash flow statements, monthly budgets, etc.
- A copy of the student's tax return (1040 with all schedules) will be required, if applicable. Student assets reserved for college will still be included in the calculations.
- If a wage earner or student has assets in a trust fund, a copy of the trust agreement and financial statement will be required.
- All wage earners will be required to sign a release to allow Westminster to obtain a copy of their tax return from the IRS (Form 4506T). This form is required even though copies of tax returns are furnished.
2. The School will not consider most ordinary business or rental depreciation or loss in calculating financial need. Losses on second homes and hobby businesses are also disallowed.
3. Unexplained debts and/or consumer debt will not be allowed in the calculations.
4. When a parent or guardian does not have earned income, the School will impute earnings equivalent to a full-time job of 2,080 hours per year based on the minimum wage rate of the preceding year.
5. If a family has children in other independent schools or in college, the family is expected to apply to those institutions for financial aid as well. A copy of the financial aid letter may be requested.
6. Should discrepancies be discovered in the information provided to Westminster School's Financial Aid Office, the School reserves the right to withdraw or revise financial assistance at anytime during the school year.
7. Financial aid recipients will be required to pay a $200 enrollment fee.
8. Westminster School reserves the right to review each situation on a case-by-case basis and to request additional information as considered necessary.