Applying for Financial Aid

Families must submit a Parents’ Financial Statement (PFS) and all supplemental materials to School & Student Services (SSS) by the stated deadlines in order to be eligible for consideration for financial aid. The Academy strongly encourages families to apply online through the SSS website, although paper applications are available by request. Application materials received past the following dates will be reviewed on a funds-available basis:

Parents’ Financial Statement (PFS)	January 31
2010 W-2 and 1099 forms	January 31
2010 income tax returns with all filed schedules and attachments	January 31
2011 W-2 and 1099 forms	February 4
2011 income tax returns with all filed schedules and attachments	February 15

Financial Aid Application Instructions

Beginning on November 1, families can go to www.sss.nais.org/parents and click on the ‘Apply Now’ button to initiate an online application for the 2012-2013 academic year. A family will only need to complete one Parents’ Financial Statement (PFS), even if there is more than one child applying for financial aid.

• Each family is assigned a secure username and password so that they can access and edit their PFS in multiple sittings as well as monitor the status of their application and view their Family Report. Going forward, families will use this same account to apply for aid in subsequent years.
• Be sure to designate BU Academy (SSS school code 1761) as a recipient of the PFS.
• In addition to the PFS, the Academy requires all families to submit additional tax documents (listed above) as part of the application. Documents may be uploaded electronically from the “Manage Documents” section of the PFS Online or mailed directly to SSS with a Required Documents Cover Sheet.
• A separate PFS is also required if an applicant’s parents are divorced or separated, or if they have never been married. Families will also need to provide additional documentation by February 15 if any of the following scenarios apply:
  • If either parent/guardian is self-employed, complete an SSS Business/Farm Statement and submit a signed copy of the business tax return for the previous two years.
  • If either parent/guardian is or was formerly enrolled in the military, submit Leave and Earning Statements for 2010 and 2011.
  • If the student has assets in a trust fund, submit a copy of the Trust Agreement.
• The PFS form and the online application system are only offered in English; however, Spanish-language documents and instructions are available to help families complete a financial aid application. Hoja de Trabajo y Instrucciones >>

Things to Remember When Applying for Financial Aid

• While cost should not be a barrier to applying or attending an independent school, the Academy acknowledges that it remains the family’s responsibility to cover the cost.
• SSS recommends that all families review the PFS Online Workbook prior to starting their application.
• Once a PFS has been processed, families can view an individualized Family Report that shows how SSS estimates the amount their family can contribute to educational expenses. The Estimated Family Contribution (EFC) is used as a baseline to help the Financial Aid Committee make fair and objective decisions based on its specific budget restrictions as well as its own policies.
• Due to limited funds, financial aid is not guaranteed to all applicants who qualify.
• All financial aid decisions are made separate from the admission process, although notification of the awards will be given with admission decisions on March 10.
• All applicants for financial aid must hold US citizenship or permanent resident status.
• Families are required to re-apply for financial aid every year. Awards may be adjusted based on significant changes in family circumstances.

SSS recommends using one of the following browsers in order to successfully view and work within the PFS Online:
Windows | Internet Explorer 7 or higher, Firefox 3 or higher
Mac OS | Internet Explorer 7 or higher, Firefox 3 or higher, or Safari 3 or higher
Adobe Acrobat Reader 5.0 or higher is required to view some forms and worksheets