Application Process
Apply on time. This is the most important thing you can do to increase your chances of receiving an aid award. If you think there is any chance your family will choose Georgetown Prep, apply for financial aid at the same time you apply for admission. DO NOT wait until your son is admitted to apply for financial aid. Often the financial aid funds are spoken for at this point. We do not want to see a family who would otherwise qualify for aid miss this opportunity because they waited to apply for aid.
Learn the Language
The financial aid process is full of acronyms. We have defined some of the key acronyms for you below.
| SSS |
School and Student Services |
The clearing house most independent schools use to process family financial information in order to determine eligibility for aid. |
| PFS |
Parents' Financial Statement |
Form filed with the SSS; families report key financial information (income, assets, debt, etc.) that is used by SSS in determining eligibility for aid. |
| RFC |
Report of Family Contribution |
SSS' estimate of a family's ability to contribute to their son's education based on their answers on the PFS; this amount is used as a guideline by the school when determining the amount of aid a family will receive. |
File your Parents' Financial Statement
Each family applying for financial aid from Georgetown Prep is required to complete a Parents' Financial Statement (PFS) through School and Student Services (SSS).
Beginning November 1, families can log into SSS online by going to www.sss.nais.org. There you will find instructions on how to register for SSS online and how to fill out the PFS online. The PFS may be filled out either online or in paper. We strongly recommend filing the PFS online. Not only is filing the PFS online cheaper, $37 online versus $49 in print, the online form walks you through the process step by step. The online version is very similar to Turbo-Tax. It gives you detailed explanations of what to include or not include at each step along the way. Several links are provided below to help you through the process of filing your PFS.
Helpful PFS Links
Information to Gather Before Beginning the PFS
A brief summary of the types of information you will want at your fingertips when filling out the PFS is listed below.
- Social Security Numbers for each applicant
- 2010 1040's with all relevant schedules
- 2010 W-2's, 1099's and other earnings statements
- Bank & Dividend Statements
- Loan & Debt Statements
Completing the PFS
1. Gather your documents.
2. Log into your SSS account at SSS online.
3. Fill out the form as completely as possible. Many questions will refer to your 2011 Federal Tax return. If you are completing the PFS prior to filing your 2011 tax return, you may estimate these numbers. Be sure to indicate that the numbers are estimates where appropriate. Regardless of when you fill out the PFS, you will be required to submit your 2010 1040 with all relevant schedules, W-2's, 1099's, etc. to SSS before January 20, 2012 and your 2011 documents as soon as they are available.
4. You will be asked to fill in school codes for the schools to which you wish to have your PFS information sent. Georgetown Prep's School Code is 3376.
5. When you reach the end of the PFS it will ask you to print a required documents cover sheet. This sheet gives detailed instructions of which documents (Tax Returns, etc.) to send to SSS along with the appropriate address. SSS scans these documents and makes them available to all the schools to which you have applied for aid.
6. You can log into SSS online anytime to check the status of your application or documents.
7. Georgetown Prep will mail an award letter with the admission decision on March 1, 2012.