Financial Aid

We believe that extraordinary students should be rewarded with extraordinary opportunities.

That's why, all the way back in 1921, Walter Annenberg was accepted and enrolled at Peddie, having been denied admission at other schools because of his religious and ethnic background. Peddie saw promise in him. Annenberg went on to lead one of America's most influential media empires. In 1993, he awarded Peddie the largest financial gift ever given to an independent boarding school, in large part to endow financial aid for deserving students.

At Peddie, we are committed to finding ways to help extraordinary students attend our school. Almost 40% of our students receive tuition assistance, including merit-based scholarships.

 

Frequently asked questions

Questions about the financial aid process

If we receive financial aid in our child’s first year at Peddie, will we receive the same award in subsequent years?

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 financial aid awards in dollar amount are made based on income, employment, number of children in tuition charging schools, etc.

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?

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. 

Does Peddie offer Arts or Athletic scholarships?

Peddie does not offer arts or athletic scholarships; however, there are a select number of merit scholarships available.

What if I have more than one child in school?

The Financial Aid Committee will take tuition expenses into consideration for all children in schools that charge tuition (excluding graduate school). Peddie requires that families apply for aid at each institutions in which they have a child enrolled. Peddie cannot subsidize tuition for other tuition-charging schools.

If parents are divorced or separated, who fills out the financial aid application?

Each parent/family/household, regardless of custodial arrangements, must submit a complete financial aid application. If there are mitigating circumstances, please contact financialaid@peddie.org.

When will we be notified about our financial aid determination?

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 those financial aid decisions are 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 when issued the re-enrollment contract.

Are there any special obligations for students who receive financial aid?

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. 

How is need assessed?

School and Student Services (SSS) generates a recommendation based on information from the Parent Financial Statement (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, 2017 and 2018 income and expenses, assets and liabilities, living expenses/lifestyle choices, and the number of family members for whom the family is paying tuition.

Will applying for financial aid affect the admission decision?

Admission applications are reviewed without regard for a family’s ability to pay. Only in the final phase of the selection process is the committee “need aware” when weighing admission decisions against available funds. If you think you need aid, you should apply.

I am an international applicant. Can I apply for financial aid?

Peddie has limited funds available for international students. To learn more, please contact financialaid@peddie.org.

Questions regarding the Parents' Financial Statement

What if our financial situation is changing significantly right now?

If extenuating circumstances are affecting your family’s financial stability, please submit the documentation that outlines these factors 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.

What if we own our own business or farm?

If you own a business or farm, you must submit tax documentation for partnerships and corporations to School and Student Services (SSS) (IRS Schedule K-1, Form 1065, Form 1120, Form 1120S).

What if my family's financial situation is complicated?

Please submit a detailed letter about any circumstances that Peddie should consider when determining your financial need. Be as specific as possible with dates and figures.

If my parents are divorced or separated, who fills out the financial aid application?

Each parent/family/household, regardless of custodial arrangements, must submit a complete financial aid application.

Contacts

Michael O'Neill

Michael O'Neill

Associate Director of Admission, Director of Financial Aid
Peter Park

Peter Park

Associate Director of Admission and Financial Aid

 

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) to process financial aid applications. This process ensures that your information will be delivered accurately, securely and quickly to our school.

 

 

Financial Aid Application Checklist:

Submit Parents' Financial Statement (PFS)

 

Submit Parents' Financial Statement (PFS)

  • Go to peddie.org/sss.
  • Click on prompt to begin your Parents' Financial Statement (PFS). You will be assigned a username (your email address) and password, and you will be able to return to your PFS at a later date to submit it.
  • Peddie's school cod​​​​​​​e 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.

 

Submit Documents

Submit Documents

The following documents must be submitted electronically to SSS. Financial Aid applications are not considered complete until all documentation is received.

  • Signed 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, submit documentation for miscellaneous income (Social Security, welfare, unemployment, etc) as well.
  • Signed copy of IRS form 4506-T (do not fill in date and do not include fee)
  • All 2018 W-2 forms, statements, schedules and/or all proofs of income should be submitted by January 15, 2019, or as soon as possible thereafter. All of these documents and 2018 tax returns must be submitted no later than February 15, 2019.* 
  • *What if my tax information is not available by the required deadline? If your current tax information is not available prior to January 15, please provide all previous year's information by January 15. However, it is imperative that current tax information be uploaded as soon as it becomes available, as financial aid awards will not be finalized until after receipt of current-year returns and verification of supplied income, asset and tax estimates.

Submit outstanding tax and income information

If you have not received your 2018 W-2 forms before the January 15 deadline, ensure that all other application materials are sent by January 15, and send 2018 W-2 forms as soon as possible and no later than February 15, 2019.

  • Please notify Peddie's Admission Office via email to financialaid@peddie.org if you make any subsequent revisions to your initial PFS application.
  • Returning Peddie families: If you submitted 2017 tax information to SSS already, you do not have to do so again. Please email financialaid@peddie.org once all of the financial aid information you have submitted to SSS has been posted.
  • Each parent/family/household, regardless of custodial arrangements, is required to complete a Parents' Financial Statement (PFS) by January 15. Applications completed after this date cannot be guaranteed consideration.
  • For questions about PFS online application, contact SSS at 800-344-8328 or visit peddie.org/sss.