Financial Aid

Philosophy and Purpose

It is the goal of Proctor Academy’s Admissions office to enroll a talented, motivated, passionate and diverse student body. The financial aid program supports deserving students who are unable to afford a Proctor education without financial assistance. Financial aid is need-based and Proctor adheres to the principles and methodology of the School & Student Services in Randolph, MA.

The Financial Aid Process

Admissions and financial aid are separate processes. Admissions decisions are never based upon a family’s ability to pay. Once a student is admitted, the Financial Aid Committee determines whether the school will be able to meet the need of the family. Need is defined as the difference between a family’s discretionary resources and the cost of educating the student. Although the school grants $3,700,000 in financial aid to approximately 35% of the student body, we are unable to offer financial aid to every qualified applicant. Therefore, some students will be admitted to Proctor without financial aid. Financial aid decisions are made in conjunction with the March 10th Admissions notification date.

Determination of Awards

Proctor’s need-based financial assistance program is guided by the National Association of Independent Schools’ “Principles of Good Practice for Financial Aid Administration.” The School & Student Services for Financial Aid (SSS) uses a family’s financial information and applies it to a formula to estimate what a family can contribute towards the cost of education. The financial aid committee makes a final determination taking into account SSS’s estimate and each family’s resources and individual circumstances. Families should identify all possible resources for funding a Proctor education before seeking financial assistance from the school.

How to Apply

New Families:

Set up an account with School & Student Services
Complete the Parent Financial Statement (PFS)
Submit the Parent Financial Statement (PFS) using Proctor’s school code: 5914
Submit required tax documents:

Upload copies of signed 2018 1040s, all related schedules, and copies of all W-2s and 1099 forms to SSS.
Upload 2019 W-2s and 1099s, but not your complete returns

Application Deadline: January 15, 2020

Returning Families:

Log into your SSS account. Your prior year information will be saved there.
Complete a new Parent Financial Statement (PFS)
Submit the Parent Financial Statement (PFS) using Proctor’s school code: 5914
Submit required tax documents:

Upload copies of signed 2018 1040s, all related schedules, and copies of all W-2s and 1099 forms to SSS.
Upload 2019 W-2s and 1099s, but not your complete returns

Application Deadline: January 15, 2020

Please contact the Director of Financial Aid if you have any questions regarding Proctor’s financial aid policies.

Christin Lathrop

Director of Financial Aid and Associate Director of Admissions

(603) 735-6658

lathropch@proctoracademy.org

Lisa Wood

Assistant Director of Financial Aid

(603) 735-6653

woodli@proctoracademy.org

Nondiscriminatory Statement

Proctor does not discriminate on the basis of race, color, religion, national or ethnic origin, citizenship, sex, sexual orientation, gender or creed in the administration of its educational policies, admissions policies, financial assistance, programs, athletic programs, opportunities, or any other Academy policy or program.

FINANCIAL AID FAQS:

List of 14 items.

What is financial aid and how is it different from loans?
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Financial aid is a need-based award given to qualifying families to offset the cost of a Proctor education. Unlike a loan, which requires repayment, an award does not have to be repaid.
How is financial aid determined?
Read More
Proctor’s need-based financial assistance program is guided by the National Association of Independent Schools’ “Principles of Good Practice for Financial Aid Administration.” The School & Student Services for Financial Aid (SSS) uses a family’s financial information and applies it to a formula to estimate what a family can contribute towards the cost of education. The Financial Aid Committee makes a determination taking into account SSS’s estimate and each family’s resources and individual circumstances.
Where does financial aid come from?
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Each year, Proctor’s Board of Trustees establishes a financial aid budget, which currently represents 17% of Proctor Academy’s operating funds. Proctor is committed to a comprehensive financial aid program, which exists to attract and allow for a broad selection of students to be a part of our community.
Will applying for financial aid affect my child’s admission?
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No, financial aid determination is separate from the Admissions decision. However, timely completion of the financial aid paperwork may expedite the financial aid decision.
When is the financial aid application deadline?
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January 15, 2020
What if my 2019 W-2s and 1099s are not available by the deadline?
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Upload your W-2s and 1099s as soon as they become available.
When will I receive notification of my financial aid award?
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For new families, you will receive your financial aid award in conjunction with your Admissions decision on March 10th. For returning families, you will receive your financial aid award in mid-February.
Will my financial aid award change from year to year?
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Families can expect awards to be renewed at the original level of funding from year to year, provided there is no significant change in financial circumstances and that the student remains in good academic and social standing. Proctor requires families to file a new PFS each year and to comply with all tax documentation requirements. Failure to comply could result in a loss of financial assistance.
Are the financial aid records confidential?
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All financial aid information is strictly confidential and viewed only by the Financial Aid Committee and Proctor’s Business Manager.
Is financial aid available for international students?
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Proctor does offer financial aid to international students. International families are requested to fill out the Parent Financial Statement through School & Student Services online HERE, keeping in mind to convert currency to US dollars. We also ask that they submit appropriate government documents verifying a family’s stated income and assets.
What if parents are divorced or separated?
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The Financial Aid Committee considers the financial resources of both parents regardless of current marital status. Proctor is not bound by the assertion that one parent is not responsible for educational expenses due to court order, separation, or divorce. Both parents must submit a Parent Financial Statement, and financial documentation is required from all family members, both parents and step-parents. Failure to comply with this request may result in a denial of financial aid or a reduced award.
Are there payment plans available?
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Yes, we offer four payment plans through our billing service “FACTS.”
Are there other financing options available in the form of loans?
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The only NAIS corporate subscriber currently providing tuition loans is:

Your Tuition Solution
2 Park Central Drive, Suite 100
Southborough, MA 01772
1-800-920-9777
http://www.yourtuitionsolution.com
What does financial aid cover, should I expect other fees?
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Financial Aid awards account for costs associated with tuition and room and board. Incidentals such as travel to and from school, school and dorm supplies, and spending money are generally not covered by financial aid. Students are encouraged to pursue vacation employment to help defray incidental costs.

FINANCIAL AID

FINANCIAL AID FAQS:

List of 14 items.

What is financial aid and how is it different from loans?

How is financial aid determined?

Where does financial aid come from?

Will applying for financial aid affect my child’s admission?

When is the financial aid application deadline?

What if my 2019 W-2s and 1099s are not available by the deadline?

When will I receive notification of my financial aid award?

Will my financial aid award change from year to year?

Are the financial aid records confidential?

Is financial aid available for international students?

What if parents are divorced or separated?

Are there payment plans available?

Are there other financing options available in the form of loans?

What does financial aid cover, should I expect other fees?