Financial Aid FAQs

Steps for Applying for Financial Aid

Applying for financial assistance for School Year Abroad is a simple three-step process, and must be completed by February 14, 2018.

1. Fill out the Parents' Financial Statement
2. Prepare your tax return and send a copy to School Year Abroad
3. Fill out and mail IRS form 4506-T to School Year Abroad

STEP ONE: COMPLETING THE PARENTS' FINANCIAL STATEMENT (PFS)

Go to sss.nais.org, or click here, carefully read the instructions and complete the Parents' Financial Statement (PFS) online. As you begin, be sure to write your PFS password and SSS PIN in a safe location.

Be sure to note our full school name, School Year Abroad, and our school code, 7216, in the appropriate sections of the PFS.

After you complete the PFS online, print two copies, keep one for your records and send one copy to us with the required supporting documents. Continue to step two.

If you opt to complete the PFS on paper (and not online) follow these steps:
1. Type or print carefully in ink your answers to all sections of the PFS. Be sure to sign and date the form.
2. Make two copies of the completed and signed PFS. Keep one for your records and mail the second copy to us with the required supporting documents.
3. Send the ORIGINAL completed and signed PFS, along with the required processing fee to:

School and Student Service by NAIS
SSS/PFS
P.O. Box 449
Randolph, MA 02368

STEP TWO: PREPARE YOUR TAX RETURN AND SUPPORTING DOCUMENTS

Prepare your tax return as soon as possible. Then, send a photocopy of your signed and completed Form 1040 for the year 2017, including all schedules and W -2 forms, to School Year Abroad.

STEP THREE: FILL OUT IRS FORM 4506-T

Complete all sections of IRS Form 4506-T; date the document, sign and send it to SYA. Do NOT include a check with this form. SYA will pay the fee if we request information from the IRS. The form is available online at www.irs.gov/formspubs. Select Form and instruction number (pdf) from the Download forms and publications menu. You can also click here for a pdf of the 4506-T form.

In order to be assured of full consideration as we begin to allocate funds, you must submit your completed application as soon as possible.
We will not be able to calculate aid until we have received all the required components of the financial aid application.

Please note:
If the student's parents are divorced or separated, or were never married, each birth parent and spouse (that is, both households) must complete and submit the PFS, current Income Tax Return and IRS Form 4506-T before SYA can calculate an award.

Mail all required forms to:
School Year Abroad
Financial Aid Office
120 Water Street, Suite 310
North Andover, MA 01845

How does School Year Abroad determine financial need?

Financial need is the difference between the cost to attend School Year Abroad and the amount a family is able to pay. SYA uses the guidelines established by the School and Students Service for Financial Aid (sss.nais.org) to help assess a family's ability to pay for independent education.

The SSS methodology considers the income, assets and expenses of both the student and the parents, and the education costs for all children attending tuition-charging schools. The goal of the Financial Aid Office at SYA is to ensure that each family's financial contribution towards tuition is feasible.

Will applying for financial aid affect my chance of being accepted?

No. SYA accepts students based on academic excellence and personal qualities, not on their ability to pay. We review applications for financial aid after students are accepted. Financial aid is limited however, so we cannot guarantee that all students who qualify will receive grants.

I am receiving financial assistance from my child's school now, would I qualify for an award from SYA?

Families receiving need-based aid from their home schools normally do qualify for aid from SYA. However, we cannot answer this question definitively without seeing your financial aid application.

Do you need my most current tax return? I usually file close to the deadline.

Yes. We understand that your 2017 Income Tax Return may not be prepared by our application deadline. Therefore, we ask you to estimate your tax information on the Parents’ Financial Statement (PFS) and submit the most recent tax return available. We must have a copy of your most recent Income Tax Return with schedules before we can confirm your financial aid scholarship award.

What other financing options are available?

There are a number of other options available which may meet your needs. National Association of lndependent Schools (NAIS) offers a list of vendors on their website, www.nais.org. You can also view the NAIS Family Guide to Financial Aid here.

If you have any other questions, please contact the Financial Aid office at 978.725.6828.