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Q
How do I apply for financial aid?
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A
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.
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Q
How is financial need determined?
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A
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.
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Q
Is financial aid automatically renewed each year?
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A
No. Westminster School requires families receiving financial aid to reapply each year. Changes in income, family status, and the number of children attending tuition-charging institutions may result in increases or decreases in an award.
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Q
Are there special instructions for parents who request aid for more than one student at Westminster School?
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A
Parents need to file only one Parents’ Financial Statement (PFS) form in the name of the oldest child attending Westminster School. The PFS form provides an opportunity to list other children in the family.
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Q
What happens if parents are divorced, separated, or never married?
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A
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.
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Q
What is the deadline for applying for financial aid?
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A
For the 2011-2012 school year, Westminster School asks that parents submit their PFS forms to SSS no later than March 10, 2011. A copy of the signed 2010 IRS Form 1040 and all supporting tax schedules plus W-2’s should be sent directly to Westminster School by March 10, 2011. No financial aid award will be made until a student has been admitted to Westminster School and all necessary documentation has been received.
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Q
If one parent does not work, how will that affect our financial aid award?
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A
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.)
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Q
When will I be notified of my award?
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The financial aid process usually results in award notification in mid-May. Families are notified of their award in writing.
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Q
What should I do if I have additional questions about financial aid?
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Please call Debby Graham, Director of Financial Aid at (405) 524-0631, ext. 122 or contact her via e-mail at dgraham@westminsterschool.org