Lincoln School Financial Assistance Mission
Lincoln School seeks to enroll a diverse and talented student body from Nursery through Grade 12. Lincoln believes that qualified students should have the opportunity to attend an independent school regardless of their family's financial situation.
Lincoln School Financial Assistance Policy
Lincoln School follows the "Principles of Good Practice for Financial Aid Administration" set out by the National Association of Independent Schools (NAIS). The School's program provides the opportunity for admitted students whose families need financial assistance and view education as a priority to attend Lincoln. Families should expect to contribute to their child's educational costs at the highest possible level given their economic situation.
To be eligible for financial assistance at Lincoln School, a family must demonstrate financial need based on criteria established by the School and Students Service (SSS) for Financial Aid. The completed application provides a comprehensive review of a family's finances.
In cases of divorce or separation, Lincoln requires information from both natural parents and any stepparents. Each parent must complete and submit a Parents' Financial Statement (PFS) before the Financial Assistance Committee will consider a candidate's eligibility. The family's ability to contribute is based on both natural parents' and any stepparents' income and assets as well.
Lincoln School's Financial Assistance Committee reviews the accepted students' Financial Aid application, the SSS calculation, and a copy of the family's signed Federal Tax Return (Form 1040) and W2's. If a family owns a business or farm, a SSS Business or Farm Statement is also required. Final financial assistance decisions are based on the Financial Aid Committee's assessment of an applicant's need and the funding available and are not final until the most recent tax returns are submitted.
Families must re-apply for Financial Assistance each year. Awards may increase or decrease from year to year based on changes to a family's financial situation and the available Financial Assistance budget. Information reviewed by the Financial Aid Committee and discussions within committee meetings are strictly confidential.
Please note: The Financial Aid Committee may not grant financial assistance if the applying family has an overdue account with the school.
Lincoln School does not discriminate on the basis of a student's race, color, religion, national, or ethnic origin.
How to Apply for Financial Assistance
Lincoln School uses School and Students Service for Financial Assistance (SSS) to determine financial assistance awards and to collect documentation. In addition to submitting an application, families must provide copies of the most recent filed and signed Federal 1040’s tax returns and supporting schedules, W-2's, and a Business/Farm Statement if appropriate. The below steps outline the financial assistance application process.
Financial Assistance Application Steps
Go to http://sss.nais.org/parents to complete and submit:
- Complete the parent financial statement (PFS) by December 1, 2016 for returning families and February 15 for new families.
- A signed copy of your filed 2015 federal tax return (including all required schedules) uploaded by December 1, 2016. If you uploaded these last year you can skip this step.
- A copy of your 2016 W2’s and/or 1099’s uploaded no later than February 15, 2017. If you estimated your salary and wages on the PFS please update with your 2016 W2’s and /or 1099’s.
- A signed copy of your complete 2016 federal tax return (including all schedules) by May 1, 2017.
If you have any questions call 1-800-344-8325 or email email@example.com.
Frequently Asked Questions
Q. What happens if my parents are divorced or separated?
A. Lincoln School believes that both parents have the primary responsibility to support the educational expenses of their children to the extent that they are able. Expected parent contributions are based on parents' ability and not willingness to pay. The Financial Assistance Committee considers the assets of both parents in determining Financial Aid eligibility. If either or both parents have remarried, the Committee may also consider the income and assets of the stepparent(s). Therefore, it is necessary that both parents and their current spouses, complete the PFS. It is the responsibility of the custodial parent to ask the non-custodial parent to complete the PFS and furnish a copy of his/her tax return to SSS. An application will be considered incomplete until all the required information is submitted.
Q. My spouse is not employed. How will that affect our financial assistance award?
A. Our Financial Aid program is based on the belief that the the family bears the primary responsibility for financing their children's education, and therefore, it is our policy to expect both parents to contribute financially. If one parent is not working, then an adjustment will be made to increase the family's income equivalent to one year's tuition for the current grade applying. Special circumstances such as caring for a disabled or elderly parent, or a disabled or preschool child may exempt a family from this policy. Each application and circumstance is evaluated individually.
Q. Are there payment plans available?
A. Lincoln School offers three different options for the annual tuition: a one-time payment, a two-time payment, or a ten-time payment plan through FACTS. Lincoln does not accept cash or credit card payments for tuition and fees directly; however, credit card payments can be arranged through FACTS. For further information please email Michelle White at firstname.lastname@example.org.
Q. When will I be notified of my financial assistance award?
A. New students (with completed financial aid applications) will receive notification at the time of admission.
Q. Is my financial aid renewable each year?
A. Families must re-apply for financial aid each year by submitting a new PFS and current year tax returns to School and Student Services (SSS). If a family's financial situation remains similar from one year to the next, a family can generally expect awards to remain at approximately the same level. The financial aid awards, however, may be affected by financial aid budget and number of eligible applicants.
Q. Are there any conditions of this financial aid award?
A. Yes. The financial aid recipient must remain in good standing re: academic and school citizenship. In addition, tuition payment history by parents may affect financial assistance awards.