Affordability
Hammond School is strongly committed to
providing a Hammond education for deserving students, regardless
of financial circumstances. To that end, Hammond will offer
more than 1 million in need-based financial aid to its students
for the 2007-08 academic year. Eligibility is based on many
factors, so you should always investigate the possibility
of receiving financial aid if you feel you cannot payall
the costs yourself. While Hammond is proud to offer generous
financial
aid, our funds are not limitless. Therefore, families requesting
financial aid are urged to follow the timetable and deadlines
below.
APPLICATION
Families who feel they will need financial assistance to
help cover the costs of Hammond are encouraged to indicate
so on the application for admission. The school will make
available to all such families a Parents' Financial Statement
(PFS) for submission to the School and Student Service (SSS)
for Financial Aid in Princeton, NJ.
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Beginning in December, Parents' Financial
Statement (PFS) information is mailed from Hammond to:
A. Returning
students currently receiving financial aid.
B. Applicants
who have indicated a request for financial aid on their
application for admission, and
C. Others upon request.
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Parents are to complete the PFS online
at
www.nais.org/financialaid/sss
(APFS is also available through our office), paying particular
attention to explanations required on all circled items.
Your most recent Federal
IRS form1040 with all supporting schedules should be
included with the financial aid form. In the instance
of separated
or divorced parents, regardless of any financial agreement
between parents, the custodial/parent must complete the
PFS and the non-custodial parentmust submit to the School
an alternate Statement for Separated or Divorced Parents.
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Provide Hammond with a copy of your
SSS application and copies of your Federal Income Tax
Return including your W2, 1099, or other forms filed by
you or your business.
-
Financial aid decisions will be mailed
to families in March.
LATE APPLICATIONS
Families whose applications for admission are initiated too
late to meet the financial aid application timetable are
encouraged
to proceed with the process, although our resources cannot
be guaranteed under these circumstances.
EVALUATION BY THE FINANCIAL AID COMMITTEE
Approximately ten working days after SSS receives the PFS
form, a computer-generated Report of Financial Need (RFN)
is mailed toHammond. Upon receipt of all the required forms,
the Financial Aid Committee begins the process of evaluating
financial aid applica-tions using guidelines recommended
by the SSS. While the Financial Aid Committee uses the RFN
as a guideline, the committee is notbound by the figures
generated by the SSS.
PRIORITIES
The Financial Aid Committee has incorporated the following
priorities in the allocation of funds. First, consideration
for budgeted dollarsis given to renewal applicants. Second,
returning students not previously receiving financial
aid
are considered. Third, applicants offered admission are
considered. Finally, late applicants are considered
if funds are available.
CONFIDENTIALITY
All information relating to the financial aid application
process is held in the strictest confidence. The only
individuals
with access to financial aid files are members of the Financial
Aid Committee. If you have any questions regarding financial
aid at Hammond, please do nothesitate to contact the Office
of Admission at 776-0295.
NOTE: Financial aid grants are awarded
on an annual basis. The application process must be repeated
each year of a student's enrollment at Hammond, at which
time the Financial Aid Committee evaluates the student's
academic, social, disciplinary and other records at school.
Normally, a family should expect that financial aid will
be continued throughout a student's career, but the Financial
Aid Committee is empowered to increase or reduce the amount
of the annual award based on changes in the family's financial
status, the student's performance at Hammond, or both.
