FINANCIAL AID QUESTIONS
For a general description of the Financial Aid process please click Tuition and Financial Aid.
Frequently Asked Questions:
Does A Better Chance provide financial aid or scholarships?
Help! I am having a technical problem with my PFS application!
Hablo Español. ¿Hay alguien que puede ayudarme?
Why does A Better Chance ask for my income on the application?
How can I apply for financial aid for independent schools?
What are the deadlines?
Will I qualify for financial aid?
What is NAIS? SSS? PFS? RFC? EFC? TADS?
How can I get a fee waiver for the financial aid application?
How do I make sure the schools have everything they need?
Why do I need to submit my tax forms?
Is this like college financial aid? Are there loans or just grants?
What happens if the school does not provide enough financial aid for my child?
Are there other outside scholarships for independent school? Other financial aid?
Does A Better Chance provide financial aid or scholarships?
No, A Better Chance is not a scholarship agency, and does not give out financial aid for independent schools. However, our candidates are eligible to receive financial aid from the schools themselves, and most do. We are grateful to our Member Schools for their continued support of our A Better Chance Scholars.
Help! I am having a technical problem with my PFS application!
Please contact SSS directly at 1-800-344-8328 or email at sss@nais.org, Monday - Friday 9am - 8pm EST.
Hablo Español. ¿Hay alguien que puede ayudarme?
Preguntas sobre PFS/SSS: Por favor, llame a SSS: 1-800-344-8328, o email: sss@nais.org
Le van a ayudar en español si usted llame entre las horas de 9am a 8pm EST, lunes a viernes.
Why does A Better Chance ask for my income on the application?
We use your financial information to make determinations about fee waivers for the SSAT, ISEE, and PFS form. Those companies allow us to distribute a limited number of fee waivers, and we follow their rules and guidelines in order to determine who qualifies for these waivers.
How can I apply for financial aid for independent schools?
Most independent schools provide need-based financial aid, but they have limited budgets. In order to fairly and equitably distribute their funds, they usually require the following:
- A completed PFS (Parents' Financial Statement) form. You can find the form here: http://sss.nais.org/parents/.
- PFS reports must be sent to all schools and to A Better Chance (our reporting code is 1024).
- 2011 and 2012 federal tax forms sent to schools and to A Better Chance. Both the 1040 and W-2 are required, along with any additional schedules. Please do not send state taxes.
- If a family receives public assistance, official letters stating income are acceptable documentation.
You should expect to receive information about the financial aid form from A Better Chance in November. Please pay careful attention to the deadlines!
What are the deadlines?
Financial aid is limited, and distributed quickly to the families who have met the deadlines. You should aim to have your financial aid forms complete by the time A Better Chance's referral decisions are made. This way, the school receives your application along with all financial documentation. To be safe, please complete the PFS by December 1st!
Will I qualify for financial aid?
There is no cut-off to qualify for financial assistance. The financial aid forms calculate your family's "estimated family contribution" in other words, how much you can afford to contribute towards tuition. This will be a different number for each family, as each family's financial situation is unique. Schools that make an offer of admission will hope to be able to match the remaining balance in order to provide a workable financial aid package.
What is NAIS? SSS? PFS? RFC? EFC? TADS?
NAIS = National Association of Independent Schools - a non-profit organization that serves as an umbrella group for independent schools, and which manages the financial aid application process.
SSS = School and Student Services (for Financial Aid) - the part of NAIS that handles financial aid.
PFS = Parent Financial Statement - the financial aid application form
RFC = Report of Financial Contribution - the report that SSS sends to you and to the schools (and to A Better Chance) after they crunch the numbers.
EFC = Estimated Family Contribution - reported on the RFC - the number that represents how much your family can afford to pay for independent school
TADS = Tuition Aid Data Service - some schools use this system instead of SSS/PFS
How can I get a fee waiver for the financial aid application?
If your A Better Chance application was completed by the deadline, you will receive notification about a fee waiver in late fall. Please feel free to call the National Office if you have questions (646-346-1310 or 800-562-7865).
How do I make sure the schools have everything they need?
First, make sure that you have added the school code for each school on the PFS. If you completed the PFS online, simply go back into the system and add the schools to which your child was referred. You should also have added the code for A Better Chance (1024) as well as "Family Report," so that you also receive a copy. Unfortunately A Better Chance does not have the capability to add schools to your account on your behalf.
Secondly, please forward all tax forms (2011 and 2012) to each school, and to SSS.
Thirdly, please follow up with the schools to make sure they have received everything!
Why do I need to submit my tax forms?
Schools use the tax forms to verify your income information. They also use the forms as documentation for their own records (for audits, etc.).
Is this like college financial aid? Are there loans or just grants?
With very few exceptions, the financial aid at independent schools comes in the form of grants that do not have to be repaid. Some schools supplement their financial aid packages with optional small loans. You can also apply for private loans to finance your payments, or to distribute the payments differently over time. You can ask the schools for more information about this option.
What happens if the school does not provide enough financial aid for my child?
Please contact your local Program Manager about how to proceed in this situation.
Are there other outside scholarships for independent school? Other financial aid?
Unlike college, there are few places to look for scholarships to attend independent school. There are a few that we are aware of, and most are programs intended for residents of a particular city or state:
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