Few things are as essential as education.WALTER H. ANNENBERG '27
Financial aid at Peddie is based on each family's ability to pay. In accordance with the National Association of Independent Schools "Principles of Good Practice," we believe that the primary responsibility for funding a child's education lies with the family. As such, we expect that each family will fund the child's education to the extent that they are able. Our financial aid program is designed to aid families after they have considered all of their own resources.
Peddie School uses School and Student Services (SSS), a service of the National Association of Independent Schools, to process financial aid applications. This process ensures that your information will be delivered accurately, securely and quickly to our school.
- If we receive financial aid in our child’s first year at Peddie, will we receive the same award in subsequent years?
- If we do not receive financial aid in our child’s first year at Peddie, is there a chance we might get it in subsequent years?
- Does Peddie offer Arts or Athletic scholarships?
- What if I have more than one child in school?
- If parents are divorced or separated, who fills out the financial aid application?
- When will we be notified about our financial aid determination?
- Are there any special obligations for students who receive financial aid?
- How is need assessed?
- Will applying for financial aid affect the admission decision?
- I am an international applicant. Can I apply for financial aid?
You must reapply every year for financial aid. You can expect your child’s level of funding to be consistent each year as long as your family’s financial circumstances remain consistent. (Adjustments in FA awards in dollar amount are made based on income, employment, number of children in tuition charging schools, etc.)
You may apply for financial aid each year and, depending on the applicant pool, additional financial aid may be available, but it is most prudent to assume that you will not get aid. Financial aid requests for students currently enrolled (but not receiving financial aid) are reviewed after determinations are made for new students and current students receiving aid who have completed all application requirements on time. Funds are not reserved for families whose PFS forms are not received after the January 15 deadline.
The Financial Aid Committee will take into consideration tuition expenses for all children in schools that charge tuition (excluding graduate school). Peddie requires that families apply for aid at each of the institutions their children attend. Peddie cannot subsidize tuition for other tuition-charging schools.
New students: If the completed financial aid application is received on time, you will receive your financial aid determination with your admission decision on March 10. Late applications will be considered upon completion and dependent on the amount of funds available.
Returning students renewing financial aid applications: If the completed financial aid application is received on time, returning student families will receive award notifications beginning in mid-April.
No. Each student, regardless of financial assistance, is expected to maintain the high personal and academic qualities evidenced at the time of admission to Peddie. Financial aid recipients have no work commitment beyond that of any Peddie student. Every student contributes to Peddie through the work job program.
SSS generates a recommendation based on information from the PFS and uses a standardized calculation derived from a formula that is nationally accepted by independent schools. Using the tax returns and W-2s, Peddie makes any necessary adjustments (income amounts, federal and state taxes, cafeteria and pension deductions, etc.) to the family’s initial estimates. The Financial Aid Committee determines need by evaluating the family’s ability to contribute against the cost of attendance. We base this analysis on factors including: parental employment, family size, 2015 and 2016 income and expenses, assets and liabilities, living expenses/lifestyle choices, and the number of family members for whom the family is paying tuition.
Yes, however Peddie has limited funds available for this purpose. International families must fill out and submit the Parents’ Financial Statement online at sss.nais.org, and also complete Peddie’s International Student Financial Aid form which can be obtained from the Admission Office.
- What if our financial situation is changing significantly right now?
- What if we own our own business or farm?
- What if my family's financial situation is complicated?
- If my parents are divorced or separated, who fills out the financial aid application?
- Do I really need to explain any circled item numbers on the PFS?
If extenuating circumstances are affecting your family’s financial stability, document these factors and submit the documentation as part of your financial aid application.
Parents who return to school or change jobs as a personal choice must realize that a resulting decrease in their family income cannot be underwritten by financial aid from Peddie.
- Step 1: Submit Parents' Financial Statement (PFS)
- Step 2: Submit Documents
- Step 3: Submit outstanding tax and income information
Submit Parents' Financial Statement (PFS)
- After October 2, 2017 go to SSS.NAIS.ORG
- Click on prompt to begin your Parents' Financial Statement (PFS). You will be assigned a username (your email address) and password, and will be able to return to your PFS at a later date to submit it.
- Peddie's school code is 5716
- Each parent/family/household must complete the PFS
- Once completed, print and retain a copy for your own records.
- PFS statements should be submitted by January 15.
The following documents must be submitted electronically to SSS. Financial Aid applications are not considered complete until all documentation is received.
- Signed federal tax return with all schedules and statements.
- 2017 federal return and 2017 W-2 forms with all schedules and statements (or IRS form 1099 if self-employed). Tax documentation for trusts, partnerships, and corporations is also required (Form 1041, IRS Schedule K-1, Form 1065, Form 1120, or Form 1120S). If applicable, send documentation for miscellaneous income (Social Security, welfare, unemployment, etc).
- Signed copy of IRS form 4506-T (do not fill in date and do not include fee)
- If your 2017 tax return is not available by January 15, you must submit all 2017 W-2 forms, statements, schedules and/or all proofs of income by February 15 along with your 2017 tax return (including all schedules/statements).
- Use an SSS cover sheet (available at sss.nais.org to submit ALL correspondence to SSS. Include your PFS number from your online PFS account and your child's name on all sheets.