Hammond’s financial aid program was designed to help the school enroll a talented, bright, socially and economically diverse group of students who might otherwise not be able to attend Hammond. For the 2012-2013 school year, Hammond provided more than $1.2 million in financial aid to qualifying families. Financial aid is granted to families on the basis of demonstrated need through the use of School and Student Service for Financial Aid (SSS). In using SSS, Hammond follows the Principles of Good Practice outlined by the National Association of Independent Schools (NAIS):
- Financial aid awards will be made without regard to race, nationality, or ethnic origin.
- Financial aid will be determined on the basis of demonstrated need.
- Families must submit annually the financial statement by SSS.
- The financial aid process is 100% confidential.
FINANCIAL AID PROCESS
Families who feel they will or might need financial assistance to help cover the cost 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 School and Student Services for Financial Aid (SSS).
Beginning in December, PFS information is mailed to returning families currently receiving aid, applicants who have indicated a request for financial aid on their application for admission, and others upon request.
Parents are to complete the PFS online at http://sss.nais.org/
. We encourage all returning Hammond families to complete this process by February 1, 2013.
Provide Hammond with a copy of your most recent 1040, copy of W-2 forms, 1099, or other forms filed by you or your business.
Families will be notified in early April.
Every financial aid award is made for one year and will be reviewed annually. Each year, and for each child, parents must submit the necessary forms to School and Student Services for Financial Aid (SSS). While significant changes in a family’s financial circumstances can impact the Report of Family Contribution (RFC), the Financial Aid Committee’s goal is to maintain funding at proportionate levels over a student’s year of enrollment. The Committee is also empowered to increase or reduce the amount of the annual award based on the student’s overall performance at Hammond.
An application for financial aid is considered only after the student has been admitted to Hammond. Applicants accepted for admission and qualifying for need-based financial aid outnumber those whom we can afford to support; therefore some students will be accepted to Hammond but not awarded financial aid for the academic school year. Consideration for financial aid is given in the following order. Funds are not reserved for families whose PFS or tax forms are received late.
- Applications from current financial aid recipients who have completed all financial aid forms by the deadline.
- New applications from currently enrolled families, if completed by the deadline.
- New applications from candidates accepted by the Admission Committee for enrollment.
- Applications completed after the specified deadlines, as long as funds remain available.
EVALUATION BY THE FINANCIAL AID COMMITTEE
Approximately 2 working days after SSS receives the PFS form, a computer-generated Report of Financial Need (RFN) is electronically sent to Hammond. Upon receipt of all the required forms, the Financial Aid Committee begins the process of evaluating financial aid applications using guidelines recommended by the SSS. While the Financial Aid Committee uses the RFN as a guideline, the committee is not bound by the figures generated by the SSS.
The Financial Aid Committee has incorporated the following priorities in the allocation of funds. First, consideration for budgeted dollars is 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.
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.
For any specific questions, please call Matt Radtke at 803-776-0295.
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.