The following are answers to frequently asked questions about financial aid.
If you have additional questions, you may contact the Financial Aid Office at 919-424-4007.
- Q: What if our tax information isn’t available at the time of the application?
- Q: Who completes the Parents’ Financial Statement (PFS) if parents are separated? Divorced? Remarried?
- Q: If a family has more than one child applying for financial aid at Saint Mary’s School, does the family have to complete more than one financial aid application?
- Q: Who completes the PFS if a student lives with a relative?
- Q: How are financial aid decisions made?
A: If your current tax forms are not complete by the financial aid deadline, then estimate your tax information on the PFS form and submit a copy of your prior year tax return and your 2019 W-2s by February 15. The PFS must be submitted by January 30 to ensure preliminary consideration among the initial aid awards. Final awards will not be granted until the entire financial aid application, including tax forms from the current year, is complete. Initial computations based on the PFS will adjust to reflect up-to-date figures from the current tax forms.
A: The Financial Aid Committee considers the assets of both natural parents and stepparents. The custodial parent, the non-custodial parent and all stepparents must submit the PFS form and a copy of their current tax forms. If a non-custodial parent refuses to comply, the Financial Aid Committee will determine if the family is eligible for financial aid.
A: Children living with grandparents or other relatives will be reviewed on a case-by-case basis. If the parents are living and are claiming the child on their tax return, the parents must complete financial aid forms. If other family members have legal custody, forms will be required of the custodian.
A: Need-based aid is awarded based on a family’s demonstrated need, as calculated by the School and Student Service by NAIS (SSS) and a family’s tax returns. These calculations include the incomes and ages of parents, the number of dependents, the number of children in tuition-charging schools, and the family’s assets. Saint Mary’s School uses a family’s demonstrated need as estimated by SSS as a guide to allocating need-based aid to families. Because financial aid funds are limited, Saint Mary’s School is not able to meet each family’s full demonstrated need.
Saint Mary's School does not discriminate on the basis of race, color, national or ethnic origin, religion, mental or physical disability, or any other status protected by applicable law in the administration of its educational, admission, financial aid, athletic and other policies and programs.