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Financial Aid at Saint James

Financial Aid

In the 2017-2018 Academic Year, over 55 percent of the student body received a total of $3 million in financial aid. The average award for boarding students was $25,000; the average award for day students was $15,000.

Sending a child to an independent school is an important investment in his or her future. We encourage talented, motivated and engaged students to apply for admission. Financial aid is awarded to a wide variety of families across the socio-economic spectrum. If you are unsure if your family qualifies for financial aid, we recommend that you apply for financial aid.

Financial Aid at Saint James School is based on the financial need of the family, as determined by the School and Student Services (SSS), and in conjunction with the School’s financial aid budget. Because Saint James receives many more financial aid applications than it can afford to fund, student merit is also a considerable factor. However, Saint James does not award any financial aid purely determined by merit. Financial aid is renewed yearly (adjusted for changes to the family’s financial circumstances).

Financial aid is available to students of any race, religion, creed, or ethnic origin.

The Process

First Time Financial Aid Applicants

First time financial aid applicants can begin applying for aid as early as November 1.

  1. Submit an online Parent Financial Statement (PFS) (school code 6514)
  2. Pay processing fee $42
  3. Upload 2015-16 1040 (including all associated schedules) and both parent W2s to SSS
  4. Upload 2016-17 1040 (including all associated schedules) and both parent W2s to SSS

Financial Aid Deadline: January 31

Please be sure to upload each supporting tax document into SSS as a separate PDF. There should be 6 total, if both parents are working. Financial aid cannot be awarded until ALL documents are received.

Example:

  1. 2015-16 Household 1040
  2. 2015-16 Parent A- W2
  3. 2015-16 Parent B- W2
  4. 2016-17 Household 1040
  5. 2016-17 Parent A- W2
  6. 2016-17 Parent B- W2

For Students Whose Parents are Divorced or Separated

Saint James School’s policy in determining financial need is derived from the underlying principle that parents have an obligation to pay the educational expenses of their children to the extent that they are able. Although separation and remarriage of parents may create new relationships and perhaps generate legal or personal agreements regarding financial support, we believe that the responsibility of both natural parents for their children’s school costs is more fundamental than any obligation a school may have to provide these expenses. Saint James is not bound by the terms of prenuptial agreements or a divorce decree.

In accordance with this policy, the custodial parents and non-custodial parent should file the “Parents’ Financial Statement” (PFS), with the School and Student Service for Financial Aid (SSS). All parents requesting aid (both custodial and non-custodial) are required to submit a signed copy of their U. S. Federal Income Tax Return Form 1040, 1040A or 1040EZ (including all forms and schedules) for each parent for both the previous year and the current year.

Parents who feel that unusual extenuating circumstances may warrant our reconsideration of the requirement of information from the non-custodial parent may send written inquiries to the attention of the Director of Admission and Financial Aid at Saint James School. Waiver of this requirement is considered only in exceptional cases.

Parents are assured that all information that is submitted will be kept in the strictest confidence. We will not act on a financial aid application until all the required information is received. Every attempt should be made to meet the deadlines specified in the financial aid program brochure.

Returning Financial Aid Applicants

Returning financial aid applicants can begin applying for aid as early as November 1.

  1. Submit an online Parent Financial Statement (PFS) (school code 6514)
  2. Pay processing fee $42
  3. Upload 2016-17 1040 (including all associated schedules) and both parent W2s to SSS

Financial Aid Deadline: December 1

Please be sure to upload each supporting tax document into SSS as a separate PDF. There should be 3 total, if both parents are working. Financial aid cannot be awarded until ALL documents are received.

Example:

  1. 2016-17 Household 1040
  2. 2016-17 Parent A- W2
  3. 2016-17 Parent B- W2

For Students Whose Parents are Divorced or Separated

Saint James School’s policy in determining financial need is derived from the underlying principle that parents have an obligation to pay the educational expenses of their children to the extent that they are able. Although separation and remarriage of parents may create new relationships and perhaps generate legal or personal agreements regarding financial support, we believe that the responsibility of both natural parents for their children’s school costs is more fundamental than any obligation a school may have to provide these expenses. Saint James is not bound by the terms of prenuptial agreements or a divorce decree.

In accordance with this policy, the custodial parents and non-custodial parent should file the “Parents’ Financial Statement” (PFS), with the School and Student Service for Financial Aid (SSS). All parents requesting aid (both custodial and non-custodial) are required to submit a signed copy of their U. S. Federal Income Tax Return Form 1040, 1040A or 1040EZ (including all forms and schedules) for each parent for both the previous year and the current year.

Parents who feel that unusual extenuating circumstances may warrant our reconsideration of the requirement of information from the non-custodial parent may send written inquiries to the attention of the Director of Admission and Financial Aid at Saint James School. Waiver of this requirement is considered only in exceptional cases.

Parents are assured that all information that is submitted will be kept in the strictest confidence. We will not act on a financial aid application until all the required information is received. Every attempt should be made to meet the deadlines specified in the financial aid program brochure.

First Time International Financial Aid Applicants

Must be pre-approved by Director of Financial Aid. All amounts to be entered in USD.

  1. Submit an online Parent Financial Statement (PFS) (school code 6514)
  2. Pay processing fee $42
  3. Upload 2014-15 tax & household income verification documents to SSS
  4. Upload 2015-16 tax & household income verification documents to SSS

Financial Aid Deadline: January 31

Please be sure to upload each supporting tax & household income verification document into SSS as a separate PDF.

For Students Whose Parents are Divorced or Separated

  • Content

Saint James School’s policy in determining financial need is derived from the underlying principle that parents have an obligation to pay the educational expenses of their children to the extent that they are able. Although separation and remarriage of parents may create new relationships and perhaps generate legal or personal agreements regarding financial support, we believe that the responsibility of both natural parents for their children’s school costs is more fundamental than any obligation a school may have to provide these expenses. Saint James is not bound by the terms of prenuptial agreements or a divorce decree.

In accordance with this policy, the custodial parents and non-custodial parent should file the “Parents’ Financial Statement” (PFS), with the School and Student Service for Financial Aid (SSS). All parents requesting aid (both custodial and non-custodial) are required to submit a signed copy of their U. S. Federal Income Tax Return Form 1040, 1040A or 1040EZ (including all forms and schedules) for each parent for both the previous year and the current year.

Parents who feel that unusual extenuating circumstances may warrant our reconsideration of the requirement of information from the non-custodial parent may send written inquiries to the attention of the Director of Admission and Financial Aid at Saint James School. Waiver of this requirement is considered only in exceptional cases.

Parents are assured that all information that is submitted will be kept in the strictest confidence. We will not act on a financial aid application until all the required information is received. Every attempt should be made to meet the deadlines specified in the financial aid program brochure.

Financial Aid Timeline & Deadlines

November 1- PFS becomes available for families

December 1- Financial Aid Deadline for RETURNING families

January 31- Financial Aid Deadline for NEW families

Your financial aid application cannot be considered until the PFS & ALL supporting tax documents are completed and submitted, with Saint James as a dedicated recipient (school code 6514).

*Financial aid applications completed and verified with supporting documents after January 31 will be considered on a rolling basis, if financial aid funding remains available.

Notification and Renewal

December 29- RETURNING families who have completed the financial aid process by the stated deadlines will be notified, in writing, of their financial aid award in December; notification will be included in the renewed enrollment contract.

March 10- NEW families who have completed the financial aid process by the stated deadlines will be notified, in writing, of their financial aid award in March; notification will be included in the acceptance mailing.

Financial aid is awarded for one year and must be renewed yearly following the application procedure and schedule above.



Financial Aid FAQ

Financial Aid- FAQ

Q: How long does it take to complete the Parents’ Financial Statement (PFS)?

A: Approximately two hours. The information provided must be complete and accurate. Referencing the Federal 1040 tax return of the previous year can be very helpful in completing the PFS. Because timeliness in the application process is important, estimated numbers may be used with the Federal 1040 for validation at a later date.

Q: Does a non-custodial parent need to file a PFS and submit a tax return?

A: Yes. The non-custodial parent is required to complete the PFS and return it, along with a photocopy of the signed Federal 1040 form and supporting schedules and wage and tax statement(s), to the Financial Aid Director.

Q: Is it possible for a family with more than $180,000 in income to qualify for financial assistance?

A: Yes. This is especially possible if the family is also paying tuition for other children attending educational institutions.

Q: Are scholarships that are not based on financial need available?

A: No. Saint James only awards financial aid to those families that have a demonstrated need. Because the need of students deemed admissible is greater than the available financial aid resources, the student quality and merit does play a factor in who receives an award.

Q: Is financial aid available to international students?

A: In special situations, it is possible for international students to receive financial assistance. However, priority in the funding process is given to United States citizens.

Q: Does applying for financial aid affect my chances for admission?

A: In most years, the collective need of those students applying for financial aid deemed admissible by the Admission Committee does exceed the financial resources available to new students. Those students will be placed on the financial aid wait list and will be notified if unused financial aid awards become available to them.


Questions

Phone: 301-733-9330 ext. 3004 | Email: admissions@stjames.edu | Fax: 301-739-1310

Admissions at Saint James School
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