Financial Aid Program FAQs
Q: Does Augusta Prep offer any sort of financial aid to families?
A: Yes. Augusta Prep's financial aid program is designed to support our commitment to enrolling a diverse community of students. Financial aid is granted to families on the basis of need, as determined by the School and Student Service for Financial Aid (SSS) and the resources of the school.
Q. How do we apply for financial aid?
A: If you wish to apply for assistance:
- Notify Director of Admission & Financial Aid Rosie Herrmann about your interest in financial aid.
- Please file with the School and Student Service for Financial Aid (SSS) by Feb. 15 to be considered for first-round awards made in April. Go to www.nais.org to file online.
- You may file online as early as December, though estimating may be necessary.
- If you are unable to file online, please contact the Admission Office for an application. Note: electronic filing is the preferred method of filing.
- Submit a copy of your Federal Tax Return to the Admission Office by the end of February.
Q: How does the School and Student Service for Financial Aid (SSS) program calculate my family’s ability to pay?
A: The School and Student Service for Financial Aid (SSS) provides an objective and consistent method to determine a family’s ability to contribute to educational expenses. The process starts when you complete and submit the Parents' Financial Statement (PFS) to SSS. With the PFS, SSS gathers family and financial information that it applies to a formula to estimate the resources your family may have available to pay school costs. Simply stated, the formula considers your income, what you own (your house and other investments), what you owe (your mortgage and other debts), the size of your family, and how many family members are enrolled in tuition-charging schools or colleges.
After making allowances for basic necessities, taxes, and certain other expenses, SSS figures out what portion of your remaining funds is available to pay school costs. Then the service provides the results of the analysis as a recommendation of your ability to cover expenses at Augusta Prep.
SSS encourages schools to use this estimate in addition to other information they collect from your family to make their final determination about your family's contribution.
Q. Will my family be awarded the entire amount recommended by SSS?
A: Financial aid amounts vary according to a family’s ability to pay and the school’s financial resources. We typically are able to meet at least a portion of the amount needed, as determined by SSS, but generally not the full amount recommended.
Q: Does Augusta Prep award financial aid based on the talents of the applicant?
A: No. Financial aid is only awarded to families based on their demonstrated need.
Q: If my family turned in our financial aid application late, is there any chance more funds may be available later in the year?
A: In most cases, Augusta Prep awards virtually all financial aid funds in April. That said, sometimes in June or July, we may learn that students who were given financial aid are not enrolling after all, and extra dollars become available. It’s always worthwhile to ask the Admission Office, just in case!
