What is Financial Assistance?
A portion of the operating budget is set aside each year for financial assistance to help families who might find the cost of a Paddington education beyond their reach. We also request donations for financial assistance at our annual spring auction. These funds are offered to new or returning families when need is determined. Paddington Station does not offer loans for tuition.
Families who wish to apply for financial assistance can begin the process online at solutionsbysss.com. The Paddington Station code is 5634. Applications should be completed no later than February 10, 2018 for returning and alumni sibling families and February 15, 2018 for prospective new families, although late applications will be considered if financial assistance funds are still available. Copies of the federal tax return for the last two years (2016 and 2017) including schedule 1040 and all supporting schedules, plus W-2s should be placed online with your Parents’ Financial Statement on the SSS website or submitted directly to the Paddington Station Business Manager, Estelle Dougherty(email@example.com). We will also require the IRS Form 4506-T. If the federal return for 2017 is not yet completed, please submit it by May 1, 2018. Paddington Station reserves the right to deny a financial assistance award if the tax returns are not submitted in a timely manner or do not verify the information submitted with the application to SSS.
The SSS processing fee is $49. If a family qualifies for a fee waiver, it will be applied automatically by SSS.
THE FINANCIAL ASSISTANCE PROCESS
1. Each family must apply for financial assistance each year; it is not automatically renewable.
2. All custodial parents must complete a Parents’ Financial Statement (PFS) and submit it to SSS. Online application at solutionsbysss.com is strongly encouraged. The Paddington Station code is 5634.
3. All parents must furnish the school with a copy of their current tax return with schedules and W-2’s and the IRS Form 4506-T.
4. Non-custodial parents must submit a separate PFS form along with their tax returns and schedules.
5. The school reserves the right to request additional financial information when necessary.
6. Resources of a step-parent or other family members will be considered in making award determination as will unique or unusual circumstances.
7. The school may provide financial assistance on a temporary basis if a family experiences a temporary or sudden change in its financial circumstances.
8. The school reserves the right to withdraw financial assistance at any time during the school year should discrepancies be discovered in the information provided.
9. The Financial Assistance Committee determines the allocations of aid according to the following guidelines: Priority is given to returning families. Priority is given to families with more than one student enrolled. There are no 100% financial assistance awards.
FREQUENTLY ASKED QUESTIONS
Will I qualify for assistance?
Each family situation is reviewed carefully, and an individual decision is made based on all available information. Therefore, it is very difficult to offer general guidelines by which you can determine your own eligibility. For further information, or if you wish to discuss your particular circumstances, please contact the Paddington Station Business Manager, Estelle Dougherty, at 303-333-9154 Ext. 306. The school provides tuition assistance to as many families as possible.
What factors are considered?
All of Paddington Station’s financial assistance awards are based strictly on demonstrated need. Priority is given to current families. Although family income level is an important consideration, many other factors enter into the decision-making process, including the number of children in the family, number of children attending schools for which tuition is paid, other family dependents, assets and liabilities, unusual expenses, etc.
What if I am separated or divorced? What if I have remarried?
The non-custodial parent will be expected to complete a separate Parents’ Financial Statement (PFS). While recognizing that divorce may create challenging situations, it is expected that all available family resources will be committed to a child’s education, from both the custodial and the non-custodial parents. The school will also consider the resources of a step-parent in making an award determination. However, unique or unusual circumstances will be considered.
What is the size of a typical award?
There is no “typical” award. Awards range from $500.00 per year to an amount close to covering full tuition. In addition, the Denver Preschool Program contributes varying amounts to the tuition of children the year before kindergarten enrollment. Paddington will supplement the DPP grant if a family needs additional assistance and completes the financial assistance process.
To what extent will I be expected to use my own resources?
Many families seek aid through the financial assistance program each year, and the school’s resources are limited. Therefore, we begin the review of each family’s financial circumstances with the assumption that family resources will be used to the maximum extent possible. We anticipate that this will involve some degree of sacrifice. We ask that you give careful thought to the maximum amount of tuition which you can reasonably pay, and ask only for that which cannot realistically be paid from your own resources or those of your extended family.
Must I reapply each year for assistance?
Yes. Financial circumstances often change from year to year, and in order to allocate our limited resources wisely, it will be necessary for you to reapply each year for assistance. Many families keep copies of their completed PFS forms for reference the following year.
Will my records be confidential?
Yes. All materials and documentation submitted with the financial assistance application are held in the strictest confidence.
Will my application for financial assistance affect my child’s chances for admission?
No. Admission decisions are made without regard to a family’s financial circumstances.
For further questions, contact the Paddington Station Business Manager, Estelle Dougherty, at 303-333-9154 or call the SSS helpline directly at 800-344-8328.