grants and policies

Financial Aid Grants
Financial aid grants are made to families with demonstrated family financial need. Grants are made for one year to students in good academic standing, and applications for financial aid must be renewed each year. Eligibility for aid is determined by Chapin’s Financial Aid Committee based on the Parents’ Financial Statement (PFS) as computed by Chapin and the School and Student Service for Financial Aid (SSS), a service of the National Association of Independent Schools (NAIS), and as verified by a copy of the family’s and student applicant’s current Federal income tax returns and W2 forms.

In evaluating this information, the school’s Financial Aid Committee takes into account the number and ages of children in the family attending tuition-paying schools, additional dependents, all sources of income, debts, and expenses, such as the number and ages of cars, and the extent of contribution to family income by parents, guardians and the aid recipient. In fairness to two-income applicant families, Chapin will add $20,000 to a non-earning spouse’s income since that parent chooses not to work for an income. Exceptions will be granted for spouses staying at home with pre-school children.

All families are expected to pay a portion of tuition expenses, and grants will not be awarded in excess of demonstrated family financial need. Grants do not cover expenses over and above tuition such as After School Program, clubs, gym uniforms, books, lunch, and Parents’ Association dues.

Named Scholarships
Chapin School is fortunate to be able to award endowed scholarships to students who contribute to the life of the school and qualify for financial aid.  These Named Scholarships are as follows:

Student Assets
The student applicant’s assets are now expected to be liquidated for education over the remaining years in pre-college school plus an allowance for four years of college. This allocation will be added to the calculated parental contribution to determine a total contribution from parents and student. For this reason, the student applicant’s Federal income tax return is now also required.

Separated or Divorced Parents
Certain difficulties may arise in judging financial aid applications filed on behalf of students with special family circumstances. Nevertheless, because financial aid is based on a family’s ability to meet the cost of education at Chapin School, it is necessary to consider the financial resources of both natural parents in cases where separation or divorce has taken place. Although the custodial parent (the parent with whom the applicant resides) and spouse are considered to be the student’s primary family, the non-custodial parent and spouse must also complete the PFS and supply a copy of their family’s current Federal income tax return. The school will not be bound by the assertion of one parent that he/she is not responsible for educational expenses. If this information is not available at the time the application is evaluated, it may cause an arbitrary assessment of financial need to be made by the school. This may result in a lesser award, or no award at all.

It is the responsibility of the custodial parent to see that the non-custodial parent receives, completes, and returns the PFS. Failure to do so could limit the amount of aid granted because the Financial Aid Committee would be required to make its decision with incomplete data.

Parents are assured that all information submitted will be kept in strictest confidence and that this information will not be shared with either family.

Decision Process
SSS uses a formula widely accepted nationally by independent schools to analyze family financial need. Financial need is determined by taking into account a number of variables such as family income, assets, number of children, other tuitions, expenses, and debts. For more information about this determination, please read the booklet supplied with this packet entitled “Family Guide to Financial Aid.”

Based on the information provided by parents in the PFS, SSS  provides Chapin with a preliminary estimate of a family’s ability to contribute to educational expenses. The school’s Financial Aid Committee reviews this information, the information provided in the Federal income tax returns and W-2 forms, and makes the final determination, factoring in any additional pertinent information.

Please note that the procedures have changed from last year. No forms or tax returns should be sent to Chapin School. All forms should be sent to SSS by NAIS per the instructions below.  We will have access to all information sent to SSS. 

Application Procedures

Special Notes

Deadlines are important! Because of the demand for financial aid each year, our financial aid funds are allocated quickly. Eligible families whose applications for financial aid are filed after the deadlines will find the amount of financial aid extremely limited or depleted. 

Please contact Mr. Gordon Neeld, Director of Finance at 609-924-2644 x1728 or GNeeld@ChapinSchool.org with all financial aid questions.

All financial records, requests, and grants are kept in strictest confidence by the Financial Aid Committee. Neither faculty nor trustees are made aware of financial aid information.

Any misrepresentation of information in the financial aid application process will result in cancellation of any financial aid package awarded by the school.

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