St. Gregory is a member of the School and Student Service for Financial Aid (SSS) which assists independent schools in determining a family’s financial need. The Report of Family Contribution (RFC), which is computed by SSS, is reviewed by our financial aid committee and serves as a guideline in making financial aid decisions. The RFC report does not bind St. Gregory to any specific award.
All aid is awarded as grants which do not require repayment.
Anyone.
No. St. Gregory accepts students based on academic merit, test scores and personal qualities. Financial aid files are reviewed and awards made only after a student is admitted. However, financial aid requests must be made by the March 7, 2008 deadline in order for an award to be considered. If a student is neither admitted nor placed in the “wait pool”, the financial aid file is shredded and destroyed.
Contact St. Gregory Admissions Office for the appropriate forms. St. Gregory 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). The PFS should be completed and mailed to SSS in Princeton, NJ. by March 7, 2008 In addition, we require that a copy of the signed 2007 IRS 1040 tax form and all supporting schedules, plus W-2’s and if applicable, partnership/sole proprietorship and/or corporate returns, be sent to the Admissions and Financial Aid office by March 7, 2008. You can also apply online.
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.
Yes. If you do not apply for aid by March 7, 2008 we cannot guarantee scholarship funds will be available.
Financial need is defined as the difference between what it costs to attend St. Gregory and a family’s ability to pay. The Report of Family Contribution is sent by SSS to St. Gregory (and to the family if they so request), and it provides the school with a general assessment of a family’s ability to pay for education. Major factors in determining financial need 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, excluding day care, preschool and graduate school.
You must complete your taxes early enough to meet the March 7 deadline in order to be considered for a financial aid award. Failure to meet our deadlines will result in your child not being considered for financial assistance.
St. Gregory requires families receiving financial aid to reapply each year. However, as long as the student remains at our school, financial aid will be renewed each year according to demonstrated need. Changes in such things as income, family status, the number of children attending private institutions may result in increases or decreases in an award. Every application is reviewed annually.
Parents need file only one Parents’ Financial Statement in the name of the oldest child attending St. Gregory and should list the other children in the proper place on the PFS form.
If your circumstances change shortly after you submit the PFS, please contact the financial aid office and submit your new information. Do not submit a new PFS to SSS. The Financial Aid Committee will review the new information, and awards will be based on your need and our remaining resources.
St. Gregory believes that parents have an obligation to pay for the educational expenses of their children to the extent that they are able, which takes precedence over the school’s responsibility to provide financial assistance. We ask that the primary custodial parent provide current tax information AND complete the PFS. We ask that noncustodial parents also fill out the PFS and provide their current tax information.
This procedure helps us distribute equitably the limited financial resources St. Gregory has to offer those families with the greatest need. Please contact Debby Kennedy in the Admissions Office if this policy posses special challenges. Additional forms for the noncustodial parent may be obtained from the Admissions Office.
St. Gregory asks that parents send their PFS to SSS as early as possible after January 1. It will take 14 working days to send the analysis of the PFS to St. Gregory by March 7. A copy of the signed IRS 1040 and all tax schedules plus W-2’s should be sent directly to St. Gregory prior to March 7. No financial aid award will be made until a student has been admitted into the school and all necessary documentation has been received.
Students will receive a notification of award by the end of March if they have met the March 7 deadline or approximately two weeks after application for what limited funds may be available during the summer months.
St. Gregory offers two payment plans; a two-time payment (May and August) or a ten month payment plan, (May-February).
