How to apply for Financial Aid
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STEP 1: Submit your completed PFS form to SSS in Pittsburgh, PA with the appropriate fee. Remember to request that the results be sent to Fay. We recommend that you also request a copy of the results for your own records. This should be done no later than FEBRUARY 1, 2008.
STEP 2: Send a copy of your PFS to Fay along with a letter describing your family’s financial situation. This letter should include any financial information not included on the PFS or give a more detailed description of information on the PFS. The copy of the PFS and the letter should be submitted no later than FEBRUARY 1, 2008.
STEP 3: Send a signed copy of your 2007 Federal Tax Form 1040, with all supporting schedules, and a copy of your 2007 W-2 to Fay. The above information should be submitted no later than February 11, 2008. (If parents file separately, both parents must submit their tax information. If either parent is self-employed, the business tax return should be submitted.)
In the case of divorce or separation, the assets of both parents are taken into consideration. Both the custodial parent and the non-custodial parent are required to fill out the PFS and submit the necessary tax documentation. This information is held in the strictest confidence. When a parent has remarried, the assets of the stepparent are also considered as a resource, bearing in mind the obligation of the stepparent to his or her own children. The assets of the stepparent should also be included on the custodial parent’s PFS. Please note that the omission of this information may be a determining factor in the granting of financial aid.
Late forms, errors, or omissions in the preparation of the PFS or letter may seriously jeopardize your child’s chance of receiving or renewing an award.
OPTIONS
It should be understood that it is not possible to meet the needs of all families applying for financial aid. Here are some possibilities that should be considered before applying for aid:
- Resources of extended family
- Home Equity Loan
- The Key Education Resources Monthly Payment Plan
- The Achiever Loan (through Key Education)
- The Fay School Business Office is happy to answer questions regarding the above payment plans.