FINANCIAL AND INCLUSION AID GUIDE SCHOOL YEAR

Transcription

1 FINANCIAL AND INCLUSION AID GUIDE SCHOOL YEAR Financing a Pine Crest School Education... 2 The Application Process... 3 Current Families... 3 Merit Aid... 4 Computation of Family Contribution... 3 Divorced, Separated, Non-Traditional Families... 3 Non-Working / Underemployed Parents... 3 Student Assets / Trusts / College Funds / Inheritance... 4 Multiple Tuition Charging Schools... 4 Home Equity... 4 Business Income / Business Startups... 4 Negative Income... 4 Loss of Income from Substance Abuse / Addiction / Criminal Activity... 4 Foreign Income... 5 Frequently Asked Questions

2 Pine Crest School offers financial aid to enroll and retain mission appropriate students who could not otherwise afford the full cost of attendance, to enrich our student body diversity, and to help current families weather a financial crisis. FINANCING A PINE CREST SCHOOL EDUCATION Tuition covers only a portion of the full cost of a Pine Crest education. Therefore all families receive tuition assistance underwritten by the School s endowment and generous gifts from alumni, families, and friends. Pine Crest encourages families with limited means to apply for tuition assistance, keeping in mind that the primary obligation for financing a student s education rests solely with the family and all avenues available to that family should be considered before approaching the School for assistance. The School further expects a family to make significant adjustments in the use of its discretionary resources and lifestyle choices, as well as access ancillary resources available through family, work, and local organizations. In every instance, the Financial Aid Committee requires evidence that a family s commitment to their child s education is a priority over discretionary lifestyle choices. Pine Crest administers a financial aid program that supports approximately 18% of our student body. In order to determine a family s eligibility to receive financial aid in a fair and equitable manner, Pine Crest requires that all applicants complete the Parents Financial Statement (PFS) with a third party called the School and Student Service for Financial Aid (SSS) for each year of matriculation. Despite our dedication to helping those who demonstrate need, there are always more students who qualify than funding available. Therefore, we encourage families to apply as soon as possible and before the application deadline. Understanding that a Pine Crest education is a significant investment in your child s future, the School s Financial Aid Committee reviews, valuates, and determines a fair assessment of a family s ability to afford an exceptional education for your children. Pine Crest School does not use financial need as a consideration in determining a student s eligibility for admission. The admission and financial aid processes are separate and distinct. Financial aid is held in the strictest confidence. All conversations regarding a student s financial aid should take place with the Director of Financial Aid. Families run the risk of losing financial aid if it is found that they have been discussing awards with other parties. THE APPLICATION PROCESS Financial Aid must be applied for annually, and families are required to demonstrate financial eligibility each year of attendance. Pine Crest reserves the right to amend awards if new information comes to light after award notification. It is the responsibility of the family to notify the School of a change in circumstances (better or worse) at any time during the application process and/or school year. Steps in the process include: New families need to complete and submit the Financial Aid Application prior to admission. Gain admission to Pine Crest School. Complete the enrollment process. Pine Crest will not process or review a Financial Aid application until the student is enrolled in the school for the year associated with the financial request. Returning students placed on a hold status due to business, academic, or behavioral reasons run the risk of losing Financial Aid if their application is not processed before the deadline. Complete the online financial aid application on School and SSS by National Assocation of Independent Schools (NAIS) website by Friday, November 30, 2018 for returning students and Friday, January 15, 2019 for new students. Request for assistance with transportation, laptops, parking, and extended day care must be made in the additional comments section of the PFS and the separate request form that is available on the Pine Crest School website. Upload signed 4506-t and prior year (2016 and 2017) signed federal tax returns by Friday, November 30, 2018 for returning students and Friday, January 18, 2019 for new students

3 Upload current (2018) federal tax returns, plus all supporting schedules, W2, and explanations by Friday, March 15, Pine Crest will not award Financial Aid until all current supporting tax documentation is uploaded and reviewed. Draft tax documentation will not be considered. Failure to pay all school-related costs in a timely manner may affect enrollment of the student(s), and financial aid awards may be discontinued. CURRENT FAMILIES Current families who have not previously applied for financial aid will not be eligible for aid unless they demonstrate a significant change in the family s financial situation and until they have been enrolled at Pine Crest School for a minimum of two academic years. In the case of divorce our total family philosophy applies. MERIT AID Pine Crest does not offer merit based aid. There are no scholarships for athletic, academic and arts ability. Pine Crest maintains the philosophy of need based financial assistance. COMPUTATION OF FAMILY CONTRIBUTION SSS is a third-party need analysis service that relies on economic factors to determine the eligibility of families. SSS, like Pine Crest School, believes a family has the primary obligation to finance their child s education. DIVORCED, SEPARATED, NON-TRADITIONAL FAMILIES Pine Crest maintains a philosophy that requires active participation of a student s entire family in funding this educational opportunity. These expectations are in effect regardless of any legal agreements between family members, such as alimony agreements, prenuptial agreements, divorce, custody, or other similar arrangements. In cases of cohabitation, Pine Crest considers the entire household income, regardless of the legal status of the family. Pine Crest expects parents, guardians, domestic partners, and step-parents to play a critical role in financing a student s education. Financial Aid decisions are made on a total family basis. The School is happy to speak with any noncustodial parent who is reluctant to provide their information to SSS and the School. However, Pine Crest s Policy requires noncustodial parents to submit their financial information on the SSS application. Refusal to provide this information will result in an application status of incomplete and a resulting denial of financial aid. The School recognizes, in rare cases, there may be an unusual circumstance that makes it difficult to obtain certain information; in this case, a waiver must be submitted for evaluation before a financial aid application will be reviewed further. Please contact the Director of Financial Aid to request a waiver. UNDEREMPLOYED / NON-WORKING PARENTS The primary responsibility for financing an education rests with the parents of the students. In many Pine Crest families, both parents work in order to maintain income sufficient to support an independent school education for their children. It is unfair to ask these dual-employed families to subsidize the educational cost for a family who chooses, for lifestyle reasons, not to work at a level commensurate with their education and abilities or who chooses not to work at all. If a parent is self-employed and claims a low income for the profession compared to the Bureau of Labor Statistics annual mean wage for that profession, a higher level of income will be imputed unless a justification can be shown for lower income. The Committee will impute estimated income for parents or guardians who choose not to work and adjust the Required Family Contribution accordingly. Families with preschool-aged children or extraordinary situations should notify the Committee of their circumstances and explain their situation in the additional notes section of

4 the PFS application. Parents returning to school, starting a business venture, or changing jobs as a personal choice must realize that a resulting decrease in their family income will not be underwritten by Pine Crest. STUDENT ASSETS / TRUSTS / COLLEGE FUNDS / INHERITANCE Savings, investments, trust funds, 529 funds, or other assets in a student s name which are held for a student for any reason, even those restricted in some way, are considered available resources for use in funding a student s education at Pine Crest and must be reported during the SSS process. MULTIPLE TUITION CHARGING SCHOOLS If more than one child in a family attends a tuitioncharging institution, Pine Crest requires families to apply for aid at each of the institutions their children attend. Pine Crest is unable to subsidize tuition for other tuitioncharging schools of any type, including college. Copies of awards from other institutions are required. Pine Crest does not consider tuition paid for children beyond the undergraduate level such as master s and doctoral degrees when determining eligibility for aid. HOME EQUITY / HOUSING EXPENSE The SSS needs analysis considers equity a family has in their primary residence, as well as other assets. It is not our expectation that parents will sell their home or take a home equity loan to support a child s education unless the balance of equity is significant. However, if a family has directed discretionary income toward the acquisition of assets, rather than toward the cost of education, they will be expected to direct a larger portion of current income towards educational expenses. The expectation is that a family will choose reasonable housing for their income level. If a family spends more than 30% of their net income, the excess spent on housing will be allocated back into the PFS as income. BUSINESS INCOME / BUSINESS STARTUPS All parents who own a business will be required to upload current business tax returns. Business owners will also be asked to furnish cash flow statements, balance sheets, and any other information relevant to the business. We do not consider business or rental depreciation or loss in the calculation of financial need. Depreciation does not reflect an actual cash disbursement or loss. Adjustments will be made to the application. If a clear financial picture that matches lifestyle cannot be created through documentation, the application will be rejected and the family denied aid. Pine Crest School will not underwrite a parent s decision to finance a startup company, and in the same light, will not supplement income loss from a business, bankruptcy, past income tax debt or lawsuit. NEGATIVE INCOME Understand that the reporting to the IRS is different than actual cash flow. The SSS methodology focuses on cash flow and cost of living adjustments. Providing tax documentation is a way to verify what has been reported in the application. In the case of reported negative income, lifestyle will be evaluated and income adjusted. LOSS OF INCOME FROM SUBSTANCE ABUSE / ADDICTION / CRIMINAL ACTIVITY Pine Crest School cannot be expected to underwrite the choice of parents who engage in activities that could jeopardize their ability to provide a Pine Crest education for their children. If a parent loses income due to time loss from work from such an activity, total full income prior to the loss of income will be imputed. FOREIGN INCOME Pine Crest School does not award Financial Aid without the income verification of United States federal tax returns. The school cannot ascertain a family s need and

5 evaluate financial aid without the proper documentation. In cases where one parent files United States taxes and another parent works outside the United States income will be imputed for that parent based off of provided documentation and lifestyle evaluation. FREQUENTLY ASKED QUESTIONS Q: Should I apply for financial aid or not? A. First, consider the full cost of an independent school education. If you cannot cover expenses out of income and judicious use of assets, consider your other options, such as tapping home equity or assistance from relatives. If you are counting on gifts from relatives, it is important to discuss with them whether or not they can maintain that help over the course of your child s attendance at Pine Crest School. Q: What financial sacrifices does Pine Crest School expect my family to make when evaluating how much we can afford for tuition and school-related expenses? A: It is Pine Crest School s belief that the primary responsibility for financing education rests with families. Our Financial Aid Committee s goal is to effectively evaluate each family s financial picture in such a manner that the family realizes some financial sacrifice for a Pine Crest School education. We will not provide aid to offset lifestyle choices and expenditures that could have been directed to education, such as luxury cars, second homes, expensive vacations, club memberships, high credit card debt, etc. Q: What does SSS do? A: SSS uses methodology to compute a family s ability to pay for educational expenses for all children. SSS is a service provided by the NAIS. Many NAIS schools use SSS for financial aid analysis. Q: What is the range of aid that is awarded? A: Pine Crest School financial aid awards range from a small percentage of the tuition to almost full tuition. All families are expected to pay some tuition. Q: Do I have to reapply each year for Financial Aid? A: Yes. Each student s need is recalculated annually. Therefore, parents are required to complete the application and upload the required documentation each year. Q: Are students ever asked to take jobs at Pine Crest School to help pay for their education? A: No. Q: Will applying for financial aid have an impact on the admissions decision? A: No. Admissions decisions are made first. The Financial Aid Committee only reviews applications after a child is admitted and enrolled. Q: Does financial aid cover school trips and other ancillary costs, like the Learning Network? A: No. The financial aid award covers the cost of tuition and in certain circumstances the cost of transportation and after school care. Extra costs which may include trips, music lessons, and athletic fees are not included. Certain high-need students will qualify for our inclusion aid program that will help cover ancillary costs. Q: If a parent decides to attend graduate school, how will that choice impact the financial aid award? A: The Financial Aid Committee expects the parent enrolled in graduate school will continue to earn income and has arranged to fund their education without depending heavily on family resources. Q: I choose to volunteer at Pine Crest School rather than work. How will that decision impact my financial aid award? A: Pine Crest School recognizes that families have the freedom and the responsibility to make choices regarding their financial status. However, if only one parent works outside of the home, the Financial Aid Committee will add additional income as if the nonworking parent was employed full time. Q: If I am living with someone who is not my child s biological parent or if I am remarried, how will the Financial Aid Committee review my child s file? A: We will require financial information from all adults involved in the applicant s life, including step-parents,

6 significant others, and partners. Q: Our family needs financial support beyond the level Pine Crest School can provide. Are there other financing options available? A: Yes. Families may apply for a customized educational loan through Your Tuition Solution (YTS). YTS pays the school your child s tuition and you pay YTS directly. For more information, contact the Financial Aid Office at Q: The award amount that we received is not sufficient, is there an appeal process? A: Yes. Please send your request for a second review in writing to the Financial Aid Office. You will be asked to fill out a detailed Monthly Cash Flow Report and provide additional documents to substantiate your appeal. Q: I still have questions regarding the application process for financial aid. Whom should I contact? A: Please contact Steven Casey, Pine Crest School Director of Financial Aid, at steven.casey@pinecrest.edu, or call SSS at

7 PINE CREST COMMITMENT A Pine Crest education will always be a significant financial commitment for a family. We do our best to keep tuition low through careful management of School resources and through our best effort to gain alternate sources of income from an expanded endowment, summer programs, and charitable giving. In return, we seek families who will place the educational experience as a first priority in budgeting their financial resources and in their commitment of time. Students are entered into Pine Crest School under an enrollment or re-enrollment contract for the entire school year, or from the time of enrollment until the end of the school year. No reduction in tuition and fees can be made for health, change of residence, absence, voluntary or involuntary withdrawal, or expulsion. Parents are obligated for payment for the full school year. Tuition refund insurance is included in tuition cost. Subject to certain requirements, this program insures a portion of the total tuition in the event of student withdrawal for medical causes, dismissal by the School, or some other reason. Families should note that the non-refundable deposit holds a place until April 30. Unless the School receives written notice of withdrawal of the contract by this date, the family will be held responsible for full payment of the coming year s tuition. There will be no waiver of this financial responsibility to Pine Crest School. Pine Crest has an open admission policy of nondiscrimination on the basis of race, religion, color, creed, ethnicity, national origin, gender, gender identity, sexual orientation, disability, and similar factors. Committed to the development of cultural, racial, religious, economic, and geographic diversity in our School community, we do not discriminate in the administration of our educational policies, admission, financial aid, athletics, or other programs. Learn more about the Admission and Financial Aid application process at Fort Lauderdale Campus 1501 NE 62nd Street Fort Lauderdale, FL Boca Raton Campus 2700 St. Andrews Boulevard Boca Raton, FL

8 FINANCIAL ASSISTANCE APPLICATION FOR NON-TUITION EXPENSES Please complete this application to request financial assistance for non-tuition school-related expenses. This application will be reviewed by the Financial Assistance Committee as soon as possible. Awards will be based on your family s demonstrated need as well as the availability of very limited endowment/gift funds for these nontuition school-related expenses. If you do not currently receive financial assistance for tuition, the online SSS financial assistance application must first be completed in order to determine your family s ability/need. Student s Name: Grade: Purpose of request: If known, what is the estimated cost? List previous financial assistance received for any school-related expenses or other opportunities (e.g. Travel, Enrichment & Learning Network). Please explain your family s need for this subsidy and what you hope to gain from this opportunity. How much of the cost can you/your family financially contribute? Please return your completed application to Steven Casey at Steven.Casey@pinecrest.edu. Note: Please understand funds for these purposes are extremely limited and may not be sufficient to fund all requests for assistance despite your family s need. In addition, available funds will vary from year to year

9 APPLYING FOR FINANCIAL AID AT OUR SCHOOL FOR THE ACADEMIC YEAR W e partner with School and Student Services (SSS) in our financial aid process. To begin your financial aid application, you will complete SSS s Parents Financial Statement (PFS). The Parents Financial Statement (PFS) is the cornerstone of our financial aid application process. By submitting a PFS, you re granting SSS permission to analyze your financial information. Using their unique methodology, they estimate the amount you can contribute to school expenses and forward that estimate to the appropriate schools. It s one form, for one fee, for any number of applicants, for any number of schools. How to complete the Parents Financial Statement (PFS) online Beginning October 2, 2018, visit the SSS Family Portal at Create your Family Portal account with your address and a password. If you applied for financial aid last year, log into the Family Portal as a Returning Family using the same address and password. Complete a PFS for Academic Year You can log out of the portal at any time and return later to finish it. Once all PFS sections are complete with green checks, the Submit & Pay button activates. Follow the prompts to the payment screen. The fee of $51 is nonrefundable. Once your PFS is submitted, it cannot be withdrawn from the SSS system. Next Steps After you pay for and submit your PFS, you have access to the Family Portal s My Documents tab to upload required documents as part of your application process. Be sure to submit required document by their deadlines. We will communicate our financial aid decision to you directly. To make our decision, we use the information from the PFS as a starting point, and we also consider our school policies, practices, and available budget. PAGE 1 OF 2 FIND THE PARENTS FINANCIAL STATEMENT ONLINE AT School and Student Services, part of the family

10 APPLYING FOR FINANCIAL AID AT OUR SCHOOL FOR THE ACADEMIC YEAR The PFS is a comprehensive application that will take some time to complete. Give yourself the time you need by not waiting until the deadline approaches. It s important to note the difference between the deadlines for admission and financial aid applications. If you do not have your 2018 tax return, complete the PFS using your most recent tax return. When the requested tax forms arrive, such as W2s or 1040s, log back in and upload them (if required). We also recommend that you review the wide range of materials that SSS has put together to help families with the financial aid process. They are found at solutionsbysss.com/parents. Top 10 Tips for Completing Your Financial Aid Application Complete only one PFS per household. You can apply for aid to any number of schools for any number of children using just one PFS for the same flat fee. Know your deadlines for submission. Use your legal name. Make sure your name on your Parents Financial Statement (PFS) appears exactly the way your name appears on your tax documents. Enter whole numbers. When entering numbers, do not enter decimals or cents simply round to the nearest whole number. Understand that all monetary values must be in US Dollars. Differentiate applicants from dependents. Questions about student applicants refer to your children who are applying for financial aid via the PFS. Questions about other dependents refer to the children (or adults) for whom you provide support but ARE NOT applying for financial aid. Separate salary from profit. If you are a business or farm owner, you will be asked about your salary in the Family Income section. Enter only the amount you actually draw as salary (reported on your W-2). You will provide information about profit/loss elsewhere in the PFS. PAGE 2 OF 2 School and Student Services, part of the family Estimate your taxes. We realize most tax forms are not available until late January. If you don t have your current year s taxes available, it s okay to estimate your answers based on your prior year s tax return. Upload or mail your required documents. You re strongly encouraged to upload tax documents via the Family Portal. If you prefer to submit documents by mail, you must print your Cover Sheet from the My Documents tab and send it with your documents to the address provided at least 10 days before your school s deadline. Tell your story. Offer explanations when requested, so your story or situation is clear and understandable to those reviewing your application. Calculate debt and unusual expenses. When asked to report your credit card debt, enter your total outstanding balances and use the Notes section to specify the types of purchases you used these cards for. When asked to total your unusual expenses, you ll find a list of the types of expenses you should and should not include. Be honest. Take time to carefully consider how much you think you can pay towards tuition on your own. Make a budget of income and expenses and see how much you can include for school costs.

11 Parents Financial Statement Workbook and Instruction Booklet Apply for Financial Aid in Academic Year This workbook and instruc on booklet walks you through comple ng your Parents Financial Statement (PFS) as part of your applica on for financial aid for the academic year. The PFS is completed online in the SSS Family Portal. Apply Online: h ps://sssbynais.org.force.com/familyportal. Find out from each school their applica on deadlines and requirements. Then, gather any materials you will need to reference as you answer ques ons in the PFS. On your Family Portal Dashboard, choose to begin a new PFS for the academic year you are applying for aid. As you work, you can save and stop your work at any me, then log in again using your address and password. A er comple ng all the sec ons of the PFS, on the Pay and Submit screen, choose your method of secure payment ($51.00). Once you submit your PFS, your informa on is sent immediately to schools. It cannot be withdrawn from the PFS system and your money cannot be refunded. Once you have paid for your PFS, the system ac vates the My Documents tab, where you can view the list of documents your schools are requiring and upload them electronically. You ll need to upload them before their requested deadline date as part of your applica on for financial aid. Contact the SSS Parent Support Team Call (800) sss@communitybrands.com From outside of the US or Canada dial (952) Copyright 2018 School and Student Services, part of the Community Brands family. All rights reserved. The SSS logo design is a registered trademark.

12 Know Your School Deadlines Find out what is required and by when for each school you re applying to for aid. Use this list to keep track of these dates. Some schools list these dates on their websites. They are also available on the Dashboard of the Family Portal a er you select your schools in Sec on 5. School Name SSS Code Deadline to Submit the PFS Deadline to Submit Required Documents Mail or Upload Documents: You have the op on to either upload required documents or mail them to SSS. Please note, uploading your documents is in your best interest your documents will be marked as received much quicker if you upload them. It s important to note, however, a dis nc on between uploading your documents and fulfilling your requirements. SSS is required to review the documents, verify their authen city, and label them for our use. This process typically takes up to 3 business days a er mailed receipt or upload date. Types of Ques ons You ll Answer on the PFS Ques ons about your family s income ( what you earn and receive ) You will answer ques ons about income that is taxed and income that is not taxed. Ques ons about taxable income cover salaries/wages earned by parents and children, alimony, and taxable dividends or interest income. Ownership of a business, farm, or rental property are other poten al sources of taxable income. Ques ons about non-taxable income cover child support, social security benefits, etc. If you do not have your current tax documenta on completed, please do your best to es mate. You can always use your previous year s tax documenta on assuming there had not been a great change. Ques ons about the value of your assets ( what you own ) Be ready to answer ques ons about the value of your home and what you pay. The PFS will also ask you about the vehicles you own and about investments and re rement plan accounts. Ques ons about your debts ( what you owe ) These include ques ons about the amount you owe on your credit cards, as well as other debt you have incurred. Ques ons about how much you pay for educa onal expenses for all your children (not just the children for whom you are applying for financial aid). The PFS also asks HOW you pay for these expenses that is, from what sources (your own funds, loans, friends, family, etc.). Ques ons about other family expenses These include ques ons about medical and dental care expenses that weren t covered by insurance and ques ons about the annual cost of camps, lessons, tutors, and vaca ons. Informa on to have handy to answer these ques ons W-2 and/or 1099 form(s) IRS Form(s) 1040 or 1040A Schedule C, E, F, K-1 Social Security statements [SSA-1099 form(s)] A sum of the child support you actually received Mortgage principal balance statements for your home(s) Lease or finance statements showing the amount owed on vehicles Bank, investment, and/or mutual fund account statements Re rement Plan account statements Credit card statements Bills/account statements showing major debt outstanding (for past educa onal expenses, past legal or funeral expenses, damage from natural disasters, etc.) A sum of the expenses you pay for school, college, and childcare for EACH of your children A sum of the expenses you paid for medical/dental premiums, as well as non-reimbursed amounts A sum of expenses for camps, lessons, sports, and tutors A sum of expenses for vaca ons taken by all members of the family 2

13 Internet Browser: We recommend using Google Chrome when working in the SSS Family Portal. Since Google Chrome updates automa cally, the most recent version should be supported. It s important to note that Internet Explorer 10 is the minimum required version to successfully view and work within the PFS. Browsers Supported: Google Chrome Mozilla Firefox Safari Internet Explorer 10 Browsers NOT Supported: Internet Explorer 7, 8, 9 Opera Choose and Confirm the Correct Academic Year: At some points during the year, SSS may have applica ons open for two academic years. Be sure to choose the PFS for the academic year in which you are applying for financial aid, then confirm your applica on year selec on when you begin to fill out your PFS. Refunds are not available for applica ons submi ed for the incorrect academic year. How to Return to Your Applica on at a Later Date: You do not have to finish your PFS in one si ng. To return to it, from the SSS Website for Families (h ps://sssbynais.force.com/familyportal), login on the right side of the page with the and password you used to create your account. If you have forgo en your password, click on Get help signing in. Save & Next vs. Save & Exit Bu ons: At the bo om of every screen in the Family Portal, you ll see two save bu ons. If you press Save & Exit, you will leave the Family Portal. You should press this if you are finishing your session and wish to log out. If you have completed the page and wish to move on to the next, press Save & Next. Note: If you haven t finished answering all the required ques ons on that page, you will be prompted to do so. If an answer doesn t apply to you, fill in a zero. Don t leave it blank. The Back Bu on: Do NOT use the back bu on on your Internet browser. Instead, click on the PFS sec on headers in the menu on the le side of the screen to navigate to earlier sec ons of the PFS. Data may be lost if you use the browser back bu on. You ll see blue icon help ps inline as you move through the applica on. Hover your cursor over these blue icons for more informa on. 3

14 Use the sec on-by-sec on guide below to complete the PFS fully and accurately. You may not see all ques ons discussed below as some ques ons are only displayed based on your answers to previous ques ons. An applica on will not be processed un l you have completed all required ques ons online. Note: References to tax form line numbers below and on the online form may vary slightly from the actual line numbers on 2018 tax forms. Household Information Parent/Guardian A and B: Fill in the biographical and contact informa on exactly as you do on tax and other official forms. Include an address so we can send you a confirma on that we have received your PFS. If either parent has more than one job, please iden fy. Other Parent: Complete this sec on only if the student applicant(s) has another living biological or legal (adop ve) parent who was not listed as Parent/Guardian A or B. Any noncustodial parent or parent with joint custody in separate households should be listed here, but he/she must also complete a separate PFS. Be sure your answers to the remainder of the ques ons in the PFS only pertain to the parents/guardians in your household. Please note that both of these fields are listed with None in the field by default. The None must be changed to Yes or No prior to saving this sec on. Applicant(s): Enter the biographical informa on only for students who are applying for financial aid at SSS subscriber schools. Do not include your other dependent children who are not applying for aid, or are only applying for aid at non-sss subscriber schools. Applicant Lives With: Select the best response for the current family situa on. If the applicant lives with someone other than Parent/Guardian A or B, enter the name(s) of the other parent(s)/guardian(s). Dependent(s): Enter the biographical informa on for all dependent individuals in your household who are NOT applying for financial aid at an SSS subscriber school. DO NOT add anyone to this sec on you have already iden fied as a Parent/Guardian or an Applicant. School Selection School Selec on: Iden fy the SSS subscriber schools to which we should send copies of your family s report where you are applying by entering the SSS code(s) or name of the schools and organiza ons or looking them up by loca on. Once the schools have been found and selected, assign them to the correct applicant(s). If a school/ organiza on is not listed, contact the school/organiza on directly. Family Income 2018 Tax Return: It is preferred, but not required, that you have completed your 2018 tax return in order to complete this PFS. If you have not yet completed it, select Es mated and use your best es mate to answer each ques on. Income Tax Filing Status: If Parent/Guardian A and B have different tax filing statuses, enter the status of Parent/ Guardian A (lines 1-5 on IRS Form 1040 or 1040A). Exemp ons: If Parent/Guardian A and B file tax forms separately, enter the total amounts claimed/reported on both tax returns (line 6D on IRS Form 1040 or 1040A). 4

15 Itemized Deduc ons: If you file a Schedule A along with your tax return, enter the total itemized deduc ons (line 29). If Parent/Guardian A and B file taxes separately and both file a Schedule A, enter the total from both forms. Federal Tax Paid: Enter the total federal tax paid in 2018 (line 63 minus line 57 on IRS Form 1040, line 28 on IRS Form 1040A or line 11 on IRS Form 1040EZ). Self employment tax in line 57 of the 1040 is reported elsewhere on the PFS. Do NOT enter the amount labeled federal income tax withheld, because the amount that is withheld is not always what you actually need to pay for federal income tax. Business/Farm Ownership: Indicate if you are a sole proprietor or partner in one or more businesses and/or farms. If you are, you will be asked for addi onal informa on in a separate Business/Farm sec on. Taxable Salaries and Wages: Enter taxable salaries and wages including ps, drawing accounts from selfemployment, and other employee compensa on before payroll deduc ons for Enter the actual amount if your 2017 taxes have been completed or es mate them if they have not. Refer to Box 1 on your W2 from your employer(s). If you have more than one W2, add the amounts and enter the total. (If you own a business/farm, do NOT include profit/loss from the business; only include any W2 salary you pay yourself. Taxable Dividend and/or Interest Income: Enter taxable dividend (line 1A on 1099-DIV or line 9a from 1040) and interest income (line 1 on 1099-INT or line 8a from 1040) for 2018 and 2019 (es mated). Do not include value of your income-genera ng assets here. Alimony: Enter the total amount of alimony received in 2018 and 2019 (es mated). Do not include child support. Adjustments to Income: Enter the total amount of adjustments (line 36 on IRS Form 1040) reported for 2018 and 2019 (es mated). Untaxed Por ons of Payments to an IRA: Enter the amount of any payments you made into an Individual Re rement Account (IRA) or a Roth IRA (line 32 of IRS Form 1040 or line 17 of IRS Form 1040A). Otherwise, enter zero. Keogh Payments and SEP Deduc ons: Enter the amount of any payments you made into a Keogh, Simplified Employee Pension (SEP), SIMPLE, and/or other qualified plans (line 28 of IRS Form 1040). If you made no such payments, enter zero. Self-Employment Tax: Enter the total deduc ble amount of self-employment taxes (line 27 on IRS Form 1040) you paid in 2018 and 2019 (es mated). Other IRS-Allowable Adjustments: Itemize any other IRS-allowable adjustments not listed above. Other Taxable Income: Enter the amount of any other taxable income received. Enter zero if no other value applies. Child Support: Enter the total amount of child support you receive for all your children, not just those applying for financial aid, in 2018 and 2019 (es mated). Enter the amount you actually received, not the amount agreed upon. This is not reported on your federal or state tax returns. Social Security Benefits: Enter the total amount of all social security benefits received by all members of your household, not just by parents/guardians in 2018 and 2019 (es mated). Other Nontaxable Income: Enter the amount of any other nontaxable income you received, if any. Enter zero if no other value applies. Student Applicant Income: Enter the amount of money, if any, earned by each student applicant in 2018 and 2019 (es mated) and whether or not the student applicant filed a federal tax return. Only enter earnings for your children who are applying for financial aid. Complete this sec on even if the applicant worked but did not file taxes. 5

16 Student Applicant Assets: Enter the total value of each student applicant s assets, if any, and itemize them. Include student savings accounts, IRAs, stocks, bonds, inheritances, trust funds, and real estate, as well as the cash value of annui es and educa on insurance policies. Student assets do NOT include life insurance policies, stamp or coin collec ons, the value of personal property, or Sec on 529 plans* and Educa on IRAs* held on behalf of the student. *These count as parent/guardian assets. Family Assets and Debts Real Estate Home (Owned): If you own your home/primary residence, enter the purchase date, purchase price, current market value, current unpaid principal on your first mortgage, and total annual payments on your first mortgage (include all property taxes, interest payments, insurance payments and condo/associa on fees). If you have a second mortgage or home equity loan, you will also be asked for the current unpaid principal, annual payments on it, and its purpose. If you re unsure how to es mate your home s current market value, consider using an online resource like Home (Rental): If you do not own your home/primary residence, enter the total annual rent paid. Other Real Estate: If you own real estate or property other than your primary residence or a business or a farm, enter the address, purpose, purchase price, current market value, and unpaid principal on all mortgages, not including interest or property taxes for each property. Also report the total annual payments on all first mortgages, including all property taxes, interest payments, insurance payments, and condo/associa on fees for each addi onal property owned. Vehicles Cars, Boats, and Recrea onal Vehicles: Enter the type, make, model, year, ownership status, current debt, and annual lease cost for every vehicle in your household. Include vehicles purchased for your children. If you do not make payments on the vehicle, enter zero in the debt/lease ques ons and provide an explana on. Other Assets and Debts Bank Accounts: Enter the total value of parents checking and savings (interest bearing and non-interest bearing) accounts, including money market accounts as of the date you complete your PFS. Do NOT include the value of student applicant accounts in this total. Investments: Enter the total net value of investments (market value minus debt) as of the date you complete the PFS. Include stocks, bonds, mutual funds, other securi es, CDs, college savings plans (e.g. 529 and Coverdell), savings plans, trust funds, and total case value of whole life insurance policies. Do NOT include re rement-specific accounts. Re rement Plans: Enter the total current value of re rement-specific accounts, such as 401(k)s, 403(b)s, IRAs, Keoghs, pensions, etc. Do NOT include savings, investments, CDs, etc. that are not held in vehicles specifically designated as re rement plan accounts. Debts: Enter the outstanding balances on amounts borrowed for situa ons such as parent educa onal debt, encumbrances against home or other real estate (NOT mortgages), living expenses if business fails, prolonged illness, unemployment, etc. have depleted assets; past medical/dental expenses, past business debts and legal fees; and uninsured na onal disasters or past funeral expenses. Do NOT include: business, farm, car or consumer debt/ loans, debts for rou ne home repairs, school expenses for children, travel expenses, or debts from investments. Consumer Debts: Enter the total outstanding balances on all credit cards that you hold, including department stores, gas sta on credit cards, etc. Do NOT include items reported as debts elsewhere on the PFS. 6

17 Family Expenses Children You Support: Enter the total number of children for whom you will be providing support for in Include both student applicants applying for financial aid AND other non-applicant dependent children. If you are providing support for dependents living with you who are not your children, please explain. Number of Children at Tui on-charging Ins tu ons: Of the children you support, indicate how many of them will be a ending tui on-charging ins tu ons such as childcare centers, schools, or colleges. Do NOT include children who are cared for by a nanny, family members, or other types of daycare that are not operated by an ins tu on, business, or agency. Educa on Expenses: Enter the educa onal and childcare costs for EACH of your children for 2018 and 2019 (es mated). Include costs for a nanny, family members, and/or daycare that are not provided by an ins tu on, business, or agency. Sources of Payment: Indicate how you paid for the academic year from each source for the educa on expenses listed above and how much you will pay for the academic year. If you are unsure which school your child/children will a end and how much it will cost for tui on, enter your best es mate based on your preferred school. Sources include financial aid, parent/guardian, student assets/earnings, loans, friends/rela ves, trust funds, and other. What You Can Pay: Es mate what you can pay towards tui on and other educa onal expenses for each applicant. Be realis c about the amount you can contribute, keeping in mind the primary responsibility for paying for your child s educa on lies with you. It is helpful for financial aid officers to have a realis c es mate of how much the family feels they can pay for tui on. Non-Reimbursable Medical/Dental Expenses: Enter the total amount paid for uninsured medical and dental expenses in 2018 and 2019 (es mated). Do not include amounts covered by insurance or the cost of insurance premiums or medical plans. Itemize amounts by each type of medical expense, such as doctors bills, medicine, and hospital bills. Total Paid for Medical/Dental Insurance: Enter the total amount paid out-of-pocket for medical/dental insurance premiums and plans. Do not include the amount of premiums paid by your and your spouse s employer(s). Unusual Expenses: Enter and explain the total amount paid for unan cipated, non-typical or emergency expenses in 2018 and 2019 (es mated). Include expenses such as nursing home/assisted living care, current legal fees, closing costs for home purchases or refinancing; sewer, street and water assessments (installa on only); unreimbursed tui on for parents, uninsured natural disasters, child support paid in excess of $5,000; special costs for a child with physical, developmental, or other diagnosed challenges; funeral expenses; and union dues. Do NOT include expenses covered in other ques ons, charity or church contribu ons, commu ng expenses, household help payments, or rou ne home repair expenses. Cost of Club Dues: Enter the yearly costs of social clubs, health/athle c clubs, etc. to which parents and/or children belong that cost more than $250. Specify the types of clubs. Cost of Camps and Lessons: Enter the total amount paid for camps and lessons for your children in Include academic, sports, music, summer day or overnight camps, tutors, test prepara on, and academic enrichment programs. Itemize these expenses. Cost of Vaca ons: Enter the total cost of all individual and family vaca ons taken in

18 Business and Farm Owner and Contact Informa on: Enter the owners, names, and addresses of all the businesses/farms owned in full or in part by Parent/Guardian A and/or Parent/ Guardian B. Type of Business: Select the type of business(es)/farm(s) and describe the service/ product provided. Tip for Business and Farm Owners: Use the SSS Tax Primer for Self- Employed Parents for specific guidance on where to find the business or farm tax information you need to report on your PFS. Business/Farm Income: Determine your total business/farm income by entering the gross receipts and sales, cost of goods sold, and other business/farm income for each business or farm you own. Enter totals for 2018 and 2019 (es mated). You may also be required to provide addi onal documents, such as: Schedule C or F Schedule E *Schedule E business owners must answer Yes to PFS ques on 7 for Other Taxable Income, and report amount on 7q. Schedule K-1 Form 1065 Form 1120S Business/Farm Expenses: Determine your total business/farm expenses by entering the total salaries and wages paid to you and/or your spouse, other salaries/wages, addi onal compensa on, business property rent, business property mortgage, and other business/farm expenses for each business or farm you own. Enter totals for 2018 and 2019 (es mated) for each business or farm. You may be asked to provide addi onal informa on, such as a Schedule C included with your IRS Form Total Deprecia on: Enter the total amount of deprecia on claimed for tax purposes for each business, farm and/or rental property you own. Refer to IRS Schedules C (line 13), E (line 23d), and/or F (line 14). Self-Employed Tax Paid: Enter the amount paid for self-employment taxes for each business or farm you own for 2018 and 2019 (es mated). Refer to IRS Form 1040 (line 57). Business/Farm Assets: For each business or farm you own, enter the total value of the business assets as of the date you complete the PFS. Do NOT include any of your personal assets. Business/Farm Debts: For each business or farm you own, enter the amount of the business debts or liabili es as of the date you complete the PFS. Do NOT include any of your personal debts or liabili es. Other Information Addi onal Comments: Enter any comments regarding your applica on to provide schools with addi onal informa on not covered elsewhere in the applica on. 8

19 This worksheet is intended only to assist you with comple ng the online Parents Financial Statement to apply for financial aid for the academic year THIS IS NOT THE ACTUAL PFS. Do not send this worksheet to SSS. The PFS applica on is only available online in the SSS Family Portal h ps://sssbynais.force.com/familyportal. You may be required to provide addi onal informa on online depending on your individual circumstances, but all applicants must provide the informa on below unless otherwise indicated. HOUSEHOLD INFORMATION Enter names exactly as they appear on tax/official forms. Parent/Guardian A Parent/Guardian A will be our primary contact for correspondence. First Name MI Last Name Suffix Address City State/Province Suite/Apt. No Country Birthdate (mm/dd/yyyy) Gender M F Phone Employer Occupa on If Parent/Guardian A has more than one job, explain: Parent/Guardian B Home Work Cell Years with Employer First Name MI Last Name Suffix Check if address is the same as Parent/Guardian A. Address Suite/Apt. No City State/Province Zip/Postal Code Country Birthdate (mm/dd/yyyy) Gender M F Phone Employer Occupa on If Parent/Guardian A has more than one job, explain: Home Work Cell Zip/Postal Code Years with Employer 9