The Unquowa School :Learn More About...
Financial Aid Information
Financial Aid Policy
The Unquowa School offers tuition assistance based on financial need to current and incoming families. The Unquowa School's Financial Aid Program has a two-fold purpose: to provide students an opportunity for an education which might otherwise be inaccessible for them and to provide the School with a well-qualified student body reflecting economic diversity. All requests for financial aid should be made directly to the Business Office.
To be eligible for financial aid at The Unquowa School, a family must demonstrate financial need based on criteria established by the School and Student Service for Financial Aid (SSS). The completed application provides a comprehensive review of a family's finances. The Unquowa School's Financial Aid Committee reviews the initial application, the SSS calculation, and a copy of the family's federal tax return (Form 1040). Final aid decisions are based on the committee's assessment of the applicants' needs and the budgeted funds available. There is always a greater demand for aid than there are resources. Information reviewed by the Financial Aid Committee and discussions within committee meetings are strictly confidential. The School asks that recipients maintain the same sense of confidentiality regarding awards.
Financial need is defined as the difference between tuition and a family's ability to pay. The Unquowa School, through the SSS calculation process, assesses the financial strength of each family by taking into account many factors. Major factors considered are income (both taxable and nontaxable) and expenses, assets (home equity, real estate, savings, etc) indebtedness, family size, and number of children attending tuition-charging schools or in full time day care. The SSS standard calculation considers these factors and determines each family's effective income. Out of this income, a portion is protected for necessities. The remaining income is defined as discretionary income. A standard percentage of this discretionary income is allocated towards education. Financial aid awards reflect the difference between this amount and the tuition.
Frequently Asked Questions
How do I apply for financial aid?
The Unquowa School uses the Parents' Financial Statement (PFS) provided by SSS as its official
application for financial aid. We encourage families to fill out the PFS online at sss.nais.org,
although a paper copy can be obtained by contacting the Business Office. If completing the PFS by
hand, the paper copy PFS should be mailed directly to: SSS by NAIS, Application Processing Center,
PO Box 449, Randolph, MA 02368-0449.
In addition to the PFS, families must provide The Unquowa School with a copy of their current year signed IRS 1040 tax form and all supporting schedules, all current year W-2s, a signed but not dated IRS tax form 4506, and, if applicable, partnership/sole proprietorship and/or corporate returns. If you own a business or farm, you must also submit an SSS Business/Farm Statement for each business you own. 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.
What is the deadline for applying for financial aid?
The Unquowa School asks that parents complete their PFS online as early as possible (SSS will begin
accepting online applications on November 8th). The deadline for completing the PFS is February
1st and the deadline for submitting all supporting documentation is March 1st. No financial aid award
will be made until a student has been admitted into the school and all necessary documentation has
been received. A delay in sending the required forms may disqualify a family from receiving funds if
all available aid is previously allocated.
Is financial aid automatically renewed each year?
The Unquowa School requires families receiving financial aid to reapply each year. As long as the
student remains at our school, financial aid will generally be renewed each year according to
demonstrated need. Changes in such things as income, family status, or the number of children
attending tuition charging institutions may result in an increase or decrease in an award. Every
application is reviewed annually.
My spouse is not employed. How will that affect my financial aid award?
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. If your spouse chooses not
to work, then an annual salary based upon a 40 hour position paying an appropriate wage will be
added to the income calculations for evaluation. There are circumstances such as caring for a disabled
or elderly parent, or a disabled or preschool child that would exempt a family from this policy. Each
application and circumstance is evaluated individually.
I never do my taxes until close to the April 15th deadline. How will this affect my financial aid
award?
You will need to complete your taxes early enough to meet the March 1st deadline in order to receive
a financial aid award. While PFS forms can be filled out using an estimated IRS Form 1040, no award
can be made until the final IRS 1040 is received by the school.
What happens if the parents are divorced or separated?
The Unquowa School believes that parents have an obligation to pay for the educational expenses of
their children to the extent that they are able and that takes precedence over the school's
responsibility to provide financial assistance. The Financial Aid Committee will consider the assets
of both parents before making any award. If either parent has remarried, the committee will also
consider the income and assets of the stepparent. Therefore, it is necessary that both parents and
their current spouses, if any, complete separate forms. It is the responsibility of the custodial parent
to ask the non-custodial parent to complete this form.
When will I be notified of my financial aid award?
Returning students will receive their award letter as the committee reviews their financial aid files.
This process usually extends from the middle of March until the end of May. New students (with
completed financial aid applications and all supporting documentation) will receive an award letter
shortly after admission to the school, providing all required financial documents and SSS results have
been received by the School.
What payment plans are available?
The Unquowa School offers three different payment plans: a one-time payment, a two-time
payment, or a ten payment plan option through Smart Tuition.
