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Financial Aid

College Prep recognizes that access and affordability are essential to a socio-economically diverse educational community.
Our financial aid program helps ensure that talented students from a wide range of socio-economic backgrounds can afford to attend College Prep. All financial aid awards are grants that do not need to be repaid. 25% of College Prep students receive financial support, with an average grant of $24,200. More than $2 million have been designated for need-based aid ranging from $3,000 to $38,600. Tuition for 2016-17 is $40,310.
 
College Prep awards financial aid based on the guidelines and methodology used by the SSS by NAIS. If your family would like to apply for financial aid, please review all the information on our website and download the appropriate forms.

Once aid is awarded, College Prep provides support to families who continue to demonstrate financial need. Families are required to complete the application and submit supporting documents each year as financial aid awards are reviewed annually.

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  • Financial Aid Application Process: Getting Started

    The financial aid application for the 2017-18 school year will be available beginning November 2, 2016. Successfully submitting an application for financial aid is a two-step process. To begin, families complete and submit a copy of your Parents’ Financial Statement (PFS) by Thursday, January 12, 2017. Part II requires families to submit their 2016 taxes, including Form 1040, and all associated schedules by February 15, 2017 for new families or by February 22, 2017 for returning families.
     
     Here are some helpful tips for preparing to complete the application:
    • Prepare your 2016 taxes as early as possible to meet the application deadline.
    • If you are a business owner and/or self-employed, the application will require you to reference 1099s, K-1s (including Forms 1120S and 1065), and may request copies from the prior two years.
    • Families are required to report 2016-17 tuition support for their children other than the applicant, and may be required to provide a copy of award letters from independent schools and/or Form 1098-T from colleges and universities.
  • Financial Aid Application Process: Part I

    Part I deadline for all families: January 12, 2017
     
    The Parents’ Financial Statement (PFS) collects information regarding your family’s financial picture. Both new and returning parents should use 2015 tax returns, in combination with good estimates for 2016 taxes, to complete the PFS. SSS by NAIS will automatically update figures once 2016 tax returns are successfully uploaded into the SSS portal.
     
    Step 1: Create an account, complete and submit your PFS
    • If you are also applying for admission, you can now access the PFS which is  designed to link the demographic information from your Ravenna application to your PFS. Returning families should visit sssbynais.org to access their account.
    • The College Preparatory School’s SSS code is 2485.
    • There is a $48 application fee to submit your PFS. Fee waivers are automatically granted to families who qualify.
    • For questions on specific PFS line items, feel free to call SSS customer service at 800.344.8328 or email sss@nais.org
     
    Step 2: Submit for 4506-T to SSS
    Verifying the accuracy of reported figures by collecting and using tax returns is a critical part of the financial aid process. Form 4506-T authorizes the IRS to supply College Prep with a summary of the 1040 form for a particular family.
    Step 3: Upload 2015 Federal Tax Form 1040 to SSS
    All financial aid applicants to College Prep are required to upload completed 2015 Federal Tax Form 1040, including all schedules (e.g. Schedules A, C, D, E, and/or F), W-2’s, and supporting documents to the SSS portal. Returning families who uploaded completed 2015 tax returns last year do not need to resubmit their 2015 taxes.
     
    NOTE: If you have other children in tuition charging-schools, including college, and/or you file a Schedule E, please take note of the following additional requirements:
     
    Partnerships and S Corporations
    If you file a Schedule E with your 1040, College Prep requires you to submit all K-1s and/or Forms 1065 and/or 1120S with your tax returns.
     
    Families receiving financial assistance from other tuition-charging schools for other children the family (e.g. private elementary/middle/high schools) must provide a copy of your 2016-17 financial aid award letter.
     
    *For families with older children in college and receive financial aid, please provide a copy of your 1098-T form for the 2016 year. 

  • Financial Aid Application Process: Part II

    Part II deadline for current families: February 15, 2017
    Part II deadline for first-time and prospective students: February 22, 2017
     
    In order to complete the financial aid process, we will need a copy of your 2016 tax returns. Once you have completed your 2016 Federal Tax Form 1040, please upload them into the SSS portal. Be sure to include all Schedules, W-2’s, and supporting documents by the appropriate deadline.
     
    Other Helpful Tips
    • If your tax returns are too large to be uploaded and must be mailed, please securely mail them to: School and Student Services, P.O. Box 449, Randolph, MA, 02368. Be sure to include a Required Documents Cover Sheet.
    • College Prep’s financial aid application does not require state tax returns to be uploaded or submitted.
    • Financial aid decisions are postmarked with admission decisions on March 16, 2017. Returning students receive financial aid awards for the following year throughout the month of March.
    • Enrollment contracts and non-refundable deposits are due from all newly admitted students receiving financial aid awards by 12 pm on Wednesday, March 24, 2017. There are no exceptions to this due date and time.
     
  • FAQs

    What are the basics of financial aid at College Prep?
    College Prep financial aid awards are grants that do not need to be repaid. Funding for the financial aid program is 100% school-based; College Prep receives no government funding.
     
    What is “need-based” financial aid?
    College Prep offers grants based on a family’s ability to pay tuition. We utilize SSS by NAISguidelines and methodology, supporting documents, and our financial aid policies to determine each applicant’s demonstrated financial need.
     
    Who is eligible to apply for financial aid?
    All current and prospective College Prep students are eligible to apply for aid, regardless of their grade level or current financial aid status.
     
    Could the request for financial aid impact my child’s chances of being accepted for admission?
    The school’s financial aid budget is able to meet the demonstrated need of almost all eligible applicants. In some years, the outcomes of a small percentage of qualified students are impacted when the financial aid budget is expended.
     
    If I did not apply or did not qualify for financial aid, can I pay full tuition for a year and then reapply for financial aid?
    College Prep assumes that all students who enroll without receiving financial aid will be able to pay full tuition each year. Unless your family circumstances change dramatically while your child is a student at the school, financial aid will not be awarded in subsequent years.
     
    Do I have to reapply for financial aid each year?
    Yes. Awards are given for one academic year. We require all aid recipients to reapply each year. A family whose financial situation remains relatively unchanged can generally expect the same percentage of their tuition to be covered by financial aid from year-to-year. For current College Prep families, all future financial aid awards are contingent upon payment of the prior year’s account.
     
    When will I receive a decision regarding financial aid?
    For new students, financial aid decisions are mailed with admission decisions on March 16, 2017. Returning students receive financial aid awards for the following year throughout the month of March.
     
    Is there a minimum GPA required to maintain a student’s financial aid eligibility?
    No. College Prep maintains the same standards of academic performance and behavior for recipients of financial aid as it does for non-recipients.
     
    Is my information kept confidential?
    Financial aid applications are only reviewed by the Financial Aid Committee. The school safeguards the confidentiality of financial aid applications, records, and decisions while respecting the right of each family to discuss its own financial aid outcomes in an appropriate manner.
     
    Does financial aid cover non-tuition school fees and other expenses?
    Non-tuition expenses are typically $1,500 annually. Financial aid recipients can expect to receive about the same percentage of their non-tuition costs covered as their tuition costs. For example, a student receiving a financial aid award equal to 50% of tuition will have about half of his non-tuition expenses paid for by the school. Non-tuition expenses include books, the Intraterm Program, and the annual laptop fee, among others.
     
    What information will the Financial Aid Committee need to determine an award if I am no longer living with my child's other parent?
    To promote a fair and equitable process, each parent is required to submit a separate and complete financial aid application. If the student’s parents do not live together, whether separated, divorced, or never married, each should complete a Parents’ Financial Statement (PFS) that is reflective of his or her own household and financial picture. If one of the parents has remarried, the expectation is for the stepparent information to be included in the PFS as well, since the stepparent is a contributing member to supporting the household’s needs. College Prep determines the ability to pay that each household exhibits and makes an award determination based on the combined determination.
     
    What if my child’s non-custodial parent is not willing to complete a financial aid application?
    If the non-custodial parent has little or no contact with their child for a significant period of time, and provides little to no financial support, the requirement may be waived. In such cases, the school requires a written statement from a non-family member (such as a family lawyer, clergyperson, social worker, or school official) who is aware of the family situation in a professional capacity. If the non-custodial parent is providing financial support and/or is in contact with their child, College Prep requires their participation. Financial aid is determined by the parents’ ability to pay, not by their willingness.
     
    I’m a stay-at-home parent and do not work outside the home. Will my family still be considered for financial aid?
    In order for the school to treat families with stay-at-home parents equitably compared to families in which all parents work outside the home, College Prep typically attributes a small income for stay-at-home parents to the financial aid calculations. Exceptions to this policy may occur if a parent is caring for a child not yet of school age, a child with a disability, a seriously ill child, parent, or grandparent or if a parent is disabled and cannot work. Please inform the Financial Aid Committee in writing of these circumstances at the time of your initial application.
     
    If we cannot afford to pay the family contribution after an award is made, is there an appeals process?
    If you feel that you cannot pay the family contribution, please contact the Admission Office and provide any additional documentation supporting your claim.
     
    Are there opportunities for merit-based scholarships?
    No, all financial aid at College Prep is need-based.
     
    I still have questions about financial aid. Whom should I contact?
    Please contact David Lazo, Director of Admission & Financial Aid, at 510.652.4364 ext. 2 or DavidL@college-prep.org
  • Important Dates & Events

    November 2, 2016: Parents’ Financial Statement, the financial aid application hosted on SSS by NAIS, opens for submissions for the 2017-18 school year.
     
    December 12, 2016, 6:00 pm at College Prep: You are invited to a financial aid information session. Topics covered during this optional workshop include completing the Parents' Financial Statement using your prior year tax returns, financial aid policies and practices, and a question-and-answer session.
     
    January 12, 2017: Parents’ Financial Statement (financial aid application) due for both new and returning applicants.
     
    February 15, 2017: Deadline for returning College Prep financial aid recipients to upload 2016 federal tax returns and required supplementary tax documents to SSS.
     
    February 22, 2017: Deadline for new applicants to upload 2016 federal tax returns and required supplementary tax documents to SSS.
     
    March 16, 2017:  Acceptance letters to new students mailed. Financial aid award letters are included with offer of admission.
     
    March 22, 2017: Courtesy response deadline for financial aid candidates. 
     
    March 24, 2017, noon: Enrollment contract and non-refundable deposit are due from all newly admitted students receiving financial aid awards. There are no exceptions to this due date and time.

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The College Preparatory School

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Photo Credit: Dan Battle, Mark Compton, Bosky Frederick, Polly Lockman, Richard Wheeler, and Jonathan Zucker.