FINANCIAL AID & SCHOLARSHIP FAQS
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1) What do you mean by “need based financial aid”?
Need based financial aid means the difference between the school’s tuition and what the family can reasonably contribute. This is called demonstrated need. Families anticipating a reduction of future income will not be given an award until the reduction can be documented. 2) If I am not currently a St. John’s student, how can I apply? If you are not a current student, you must first apply for admission. There is a $100 non-refundable application fee. Once accepted, you may request for a financial aid packet. 3) What kind of information is required to apply for financial aid? a) Salary and wage earnings b) Personal assets (home, auto, personal investments, etc.) c) Personal debts such as home mortgage, auto loan(s), consumer debts (credit cards, etc.) d) Last 2 years annual tax returns and accompanying schedules e) Financial information on business 4) Is there a limit on the amount of financial aid assistance? Yes. Based on the availability of funds. 5) Must I apply for financial assistance every year? Yes, following the same basic process and with updated financial information. 6) Who reviews my financial assistance application? The school utilizes the School and Student Service for Financial Aid (SSS) for pre-evaluation and recommendation of parental contribution towards tuition. The school’s Tuition Assistance Program Committee reviews the SSS recommendation and makes final decision on awards based on the availability of funds. Other imputations may be applied in order to most equitably distribute funds to the students who demonstrate the greatest needs. 7) What are my chances in getting financial assistance? Depends on family income, assets, allowances and number of children applying or attending private schools elsewhere; and the availability of funds. 8) What if my financial aid award is not enough? Depending on the number of applicants and the amount of financial aid funds available, the school may increase the original award provided that parents submit documented changes in financial circumstances. 9) Why do I need to apply for financial assistance or for merit scholarships (non-need based)? Some Scholarships are either merit and need based or both. In order to determine financial need eligibility for these type of scholarships, all candidates must apply for financial assistance. By using the School and Student Service, as pertains to demonstrated financial need, candidates are assessed fairly. |
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