Financial Aid

Where can I find the financial aid application?

On our website you may review the criteria of our different assistance programs available. Once you are ready to apply, complete this application where you can select the program you are applying for and provide the required information.

Should I submit multiple applications for different tuition assistance programs?

Usually that is not necessary. The committee will consider all programs you may be eligible for and provide you with the best offer of tuition assistance. Here is a quick reference guide for financial aid applications:

• Families with K-8 student(s) only apply via Tiered iCap or Traditional Financial Aid.

• Families with a toddler through Pre-K AND a K-8 student apply via the Traditional Financial Aid.

• Families with a toddler through Pre-K student(s) only apply via the Early Childhood financial aid application.

Should I complete a separate application for each child?

No, complete one application per household.

What if I am self-employed or have income from sources other than on my W2?

• You should provide all relevant tax documents, for example:

• Business: Schedule C or C-EZ (Form 1040)

• Farm: Schedule F (Form 1040) and Form 4562 Depreciation and Amortization

• Rental Property: Schedule E (Form 1040)

• S-Corporation: Schedule E (Form 1040), Form 1120S, Schedule K-1 and Form 8825

• Partnership: Schedule E (Form 1040), Form 1065, Schedule K-1 and Form 8825

• Estates and Trusts: Schedule E (Form 1040), Form 1041, Schedule K-1 and Form 8825

What happens if I miss a financial aid deadline?

Applications received on time and fully completed with required documentation will be considered first. Late or incomplete applications will be reviewed on a rolling bases as funds allow.

Do you consider tuition paid to other institutions when calculating aid?

Yes, the Financial Aid Committee will consider tuition paid to other institutions for siblings. The committee does expect you to file for financial assistance from all institutions involved.

Do you offer aid for after school activities, transportation, or trips?

Financial aid is generally only allocated against the core tuition, excluding other expenses such as fees, trips, activities, food, or athletics.

Do I need to re-apply and complete the application every year?

Yes, families apply for financial aid each school year at Schechter as family finances can change from year to year. Likewise, the financial aid program that a family utilizes can change from year to year as well.

Do you accept payments from 529 plans?

Yes, families may now withdraw up to $10,000 tax-free from a 529 plan to pay up to $10,000 per year in K-12 tuition expenses.

What is SSS?

SSS, School & Student Services, is third party provider of financial aid services. SSS helps Schechter to collect and analyze financial information from families. Family income, expenses, assets, liabilities, number of children attending tuition charging schools, family size, age of the older parent, and other information determine need assessment. There is a non-refundable application fee with the Traditional Financial Aid application.

What is Direct IRS Integration in SSS?

We’re excited to announce that direct tax data integration is now available in SSS! Families can authorize the secure transfer of their tax information—eliminating the need to manually upload documents. Powered by a partnership with TaxStatus ® , this new feature provides faster, verified financial data at no additional cost to families.

Is SSS secure?

SSS uses the most up-to-date intrusion detection, firewalls, encryption levels and security patches. For more information, please visit the parent FAQ section on the Solutions By SSS Website.

Where can I upload my tax documents securely?

If you applied utilizing the Traditional Financial Aid application via SSS, your documents are upload to the School and Student Services (SSS) website. For all other programs, your documents can be uploaded to our secure ShareFile portal found here.

Should I spend limited financial resources on elementary/secondary school or college?

Whether to spend limited financial resources on elementary/secondary school or college education can be a difficult choice for families. At the college level there is considerable financial aid and federal funding relief available. As all family and student assets, in addition to income, are taken into strict account when determining college-level financial aid packages, an argument can be made that overweighting the use of limited assets in favor of a strong preparatory education can prove to be a thoughtful, reasonable, and wise decision. With the reality that all independent schools, unsupported by tax dollars, are expensive for virtually every family, it is increasingly common for parents and grandparents to share the financial cost of a student’s education.