Financial Aid
“Financial need should not deter qualified students from applying.”
FINANCIAL AID
Through a financial aid program that is based principally upon demonstrated financial need, LTS assists over 63 percent of the student body in meeting educational costs. Assistance is based on the assumptions that the primary obligation for financing a student’s education lies with the family and that the family is willing to make significant adjustments in the use of its discretionary resources in order to meet educational costs. In order to provide financial assistance in an equitable manner, families seeking aid must meet all financial deadlines. In all cases, we look for evidence that a family’s commitment to their child’s education is at least as strong as the School’s.
In allocating the School’s limited financial aid resources, the financial aid committee considers a number of criteria. These include the strength of a candidate’s academic credentials, the quality of their extracurricular involvement, the strength of their recommendations, their potential to make a meaningful contribution to the life of the School, the diversity they will bring to the School community, and the amount of need.
Financial aid is granted for one school year. It is the intention of the school to renew financial aid in each of the following years provided the family continues to demonstrate need, all financial commitments from the previous year are met, and the student remains in good academic and community standing.
Financial Assistance applicants should be aware that:
- LTS expects applicants to utilize all other sources of tuition support such as Tuition Pay loans and other loan sources including family members.
- Applicants must eliminate other non-essential expenses such as expensive vacations or vacation homes.
- If a parent is unemployed or works less than 1/2 time, a potential salary based on education and previous work experience will be estimated in our financial aid calculations.
Due to the large number of families applying for aid and the limited funds available, LTS cannot hold financial aid awards beyond stated deadlines. After deadlines have passed, unclaimed financial aid awards may be offered to applicants in LTS’s financial aid waiting pool. The same process applies each year a family applies for financial aid.
FINANCIAL AID PROCEDURE
Financial Aid is awarded first to returning students, then to Early Bird Acceptances. Any remaining money is then distributed to later acceptances.
PARENTS MAY BEGIN APPLYING FOR FINANCIAL AID JANUARY 1.
1. Log in to http://sss.nais.org/parents/. If you are a returning parent simply enter your email address and password from the previous year. If you are new you will need to create a new account. NOTE: there is an application fee.
2. Complete your Parents’ Financial Statement (PFS) and mail your required documents to School and Student Services, PO Box 449, Randolph, MA 02368-0449 no later than March 1*. The required documents are the 2012 1040 with all filed schedules and attachments, W2’s, and business taxes (if applicable). You will also need the PFS Documentation Cover Sheet, SSS Business/Farm Statement. If your 2012 taxes are not complete please enter your 2011 information and send your 2012 W2′s to SSS. When your 2012 taxes are complete, update the information on the PFS.
3. The Financial Aid Commitee reviews all applicant information. In order to provide financial assistance in an equitable manner, all applicants are reviewed at one time rather than as completed.
5. An Enrollment Agreement stating your tuition and other fees along with any town tuition, financial aid or scholarship awarded will be mailed by April 30.
6. Enrollment Agreements must be returned to LTS within two weeks of the issue date. Enrollment Agreements not returned within that time frame may forfeit their financial aid or scholarship award.
