Financial Aid Frequently Asked Questions - Mid-Pacific Institute

Financial Aid Frequently Asked Questions

  1. Should I apply for financial aid?

    Private school education is the responsibility of the family. With that being said, families should first evaluate all resources available to them and try to maximize earnings and alter spending habits. Would your family be able to pay approximately $2,300 per month, for ten months, for your child's education? If no, your family may be a candidate for financial aid.

  2. How do I apply?

    The fastest and easiest way to apply for financial aid is online at www.sss.nais.org, or complete a hard copy of the application form.

    The financial aid packet contains the information from School and Student Services program provided by the National Association of Independent Schools (SSS), an independent service that Mid-Pacific utilizes. Parents are required to complete the SSS Parents' Financial Statement (PFS) application preferably online at www.sss.nais.org or by mailing the original directly to SSS in Randolph, MA. Mid-Pacific's financial aid application packet explains in detail other documentation (such as Federal 1040 income tax returns, W-2s, etc.) that is required by the school, and where these documents should be sent. We recommend that the PFS form be completed online as results are sent to the school quicker and the cost for parents lower.

  3. How does the school determine financial need?

    The School and Student Services By NAIS (SSS) uses a formula nationally accepted among independent schools to analyze need and provides a preliminary estimate of a family's ability to contribute to educational expenses. SSS provides Mid-Pacific with a report of the family's finances. Mid-Pacific uses the "Estimated Family Contribution" figure from SSS to rank the relative need of the family applying for our limited financial aid resources. Mid-Pacific awards only a percentage of the SSS-calculated family need.

    There is no preset income figure that qualifies a family for aid. Numerous factors are considered in determining need, including but not limited to family size, assets, debt, and number of children in tuition-charging schools or colleges, as well as care responsibility for an elderly parent. The school looks at the application, and it differentiates between necessary expenses and money spent for lifestyle choices. The school does not provide financial aid to make up for "lifestyle" expenditures that could have been directed to education.

  4. What should I do if I'm not sure whether I can afford the tuition and whether I should apply at Mid-Pacific?

    It is usually best to start the admissions application process before applying for financial aid. Your child may be eligible for financial aid; however, you may miss the admissions deadline or all openings may become filled before you begin the admissions application process.

  5. What if I have more than one child attending Mid-Pacific?

    Parents with more than one child at Mid-Pacific should apply for financial aid for all children.

  6. What if I have children at other tuition-charging schools?

    Other (Kindergarten through grade twelve) private school tuitions you pay are figured into the calculations of need. In order to receive aid from Mid-Pacific, parents must apply for aid at all schools their children attend. College tuition money is regarded as an investment rather than educational expense, as it pays for itself in higher income levels quite rapidly. For this reason, both parents and students frequently take out federally subsidized loans, in addition to the direct aid that is available at the college level.

  7. Do you offer financial aid for preschool students (three- and four-year-olds)?

    No. Due to the small student-teacher ratio, Mid-Pacific is unable to offer financial aid to our pre-school families. Families can apply for financial aid beginning in Kindergarten.

  8. Are there scholarships other than the usual financial aid?

    Yes. There are scholarships at Mid-Pacific for exceptional students who excel in the arts, athletics, or academics ~ the Alumni, Clark, Hipp, Imoto, Sekiya, Wheeler, and Wood scholarships ~ all of which are both merit- and need-based.

  9. What if my family can't afford the SSS fee?

    Call the Financial Aid Office at (808) 973-5003. We will determine if your family's income level qualifies for a fee waiver. If so, we will provide you with a fee waiver code that you can use in lieu of a check or credit card payment. Because our supply of waivers is limited, we may not be able to honor all requests.

  10. Does applying for financial aid reduce chances of admission?

    Mid-Pacific's Admissions Committee and Financial Aid Committee are independent of each other. Applying for financial aid has no bearing upon the admissions process. While Mid-Pacific is committed to meeting the demonstrated need of accepted students, there is a limited amount of aid available.

  11. Do I need to reapply for financial aid each year?

    Yes, unless your family's circumstances allow you to cover tuition costs in full. As long as your financial need continues, the school will continue to try to assist you. Adjustments will be made each year for tuition increases, changes in your family's financial picture, availability of financial aid funds, and the number of applicants.
  12. Will my child's financial aid award change from year to year?

    Financial aid is recalculated each year using information from the current Parents' Financial Statement. If there is little or no change in the financial circumstances, a family can generally expect awards to remain at approximately the same level. The financial aid awards, however, may be affected by the total funds budgeted and the number of applicants.
  13. What should I do if I have copies of all the required documents for the school, except my Federal income tax return?

    You should submit your copy of the PFS and all other documents to SSS. Your child's name will then be entered onto the financial aid list and will be acted upon when all documents are received. It should be noted that the financial aid will not be granted until the Federal 1040 income tax return (including all schedules) is received.
  14. Do I mail the IRS Form 4506-T to the Internal Revenue Service?

    No, the signed (and undated) form is sent to SSS/NAIS.
  15. When would I be notified of the financial aid award?

    Parents of new incoming middle and high school students will be notified of financial aid awards in April before the parents' admissions decision date of April 15 (if financial aid application was completed on time). Parents of Kindergarten through grade 5 students will be notified in May of the financial aid award (if the financial aid application was completed on time). Parents of returning students will be notified in April/May (provided that the financial aid application was completed on time).
  16. Are there any conditions of this financial aid award?

    Yes. The financial aid recipient must maintain a satisfactory record of grades and citizenship. In addition, tuition payment history by parents may affect financial aid awards.
  17. If a student is not receiving financial aid, could he or she apply for financial aid during the second semester of the school year?

    Yes, parents should complete the PFS (Parents' Financial Statement) and submit the original PFS plus all requested documents (Federal 1040 income tax return, W-2s, etc.) to Mid-Pacific's Financial Aid Office. If financial aid funds are available (due to the departure of a student or students who received financial aid), a financial aid award may be made for the second semester.
  18. In financial emergencies, what should I do?

    The parents should contact the Business Office at (808) 973-5018 if a family financial emergency should occur. For information, participation in the Tuition Refund Plan (TRP) offers tuition-payment protection for (1) the departure of your child for any reason, including medical, withdrawal, or dismissal during the school year; and (2) the death of a parent who is listed on the tuition contract. Under this plan, a percentage of the unused portion of the tuition for school days remaining (less financial aid awarded) is paid by TRP to the school. (Please note that depending on the circumstance, an outstanding tuition balance may remain.)
  19. Do I have to repay the financial aid received?

    No. Families are not expected to repay the financial aid awards. After the students who received financial aid begin their professional careers, Mid-Pacific would hope that the student/family would contribute monetarily to support our programs through the Annual Fund, Capital Campaign, Endowment, etc.

  20. Can a family appeal for additional aid if the amount of award is insufficient?

    Yes. Appeals may be submitted to Mid-Pacific's Financial Aid Office with whatever additional information is available regarding the financial situation of the family. The written request should explain what has changed since the PFS was submitted and why reconsideration should be made, along with proper documentation.
  21. Are there payment plans or loans available?

    In addition to a lump-sum payment, the school has plans that allow families to spread the cost over two or ten payments. All financial aid recipients, whether paying by one lump-sum, or two- or ten- payment plans, are automatically charged for the Tuition Refund Plan (TRP). Low-interest educational loans are available through special programs run by some banks, credit unions, and various financing companies that can be found on the internet ("loans for private elementary and secondary school education").
  22. What should I do if I need to turn in our tuition contract and deposit, and I don't know what the financial aid amount is?

    Turn in the tuition contract and deposit with a note indicating that you have applied for financial aid. If you are on the FACTS plan, you will be notified of your new monthly deduction if financial aid is awarded.
  23. Would I lose the tuition deposit if the financial aid amount is insufficient and my child goes to a public school?

    No. Your deposit will be refunded if you are unable to afford the tuition after the financial aid is applied to the total amount due and your child attends a public school or a private school with a lower net tuition. (Net tuition would be the private school tuition, less financial aid or scholarship.) A copy of your child's class schedule or other document from a public school or a copy of the tuition notification from a private school would be required in order to receive a full deposit refund.
  24. Are there exceptions to any of the above policies?

    Requests for consideration of extenuating circumstances (such as a missing parent or one who has not provided support and has not been in contact with the family for at least two years) should be explained in writing. Documents from an official source, such as a family doctor, attorney, social worker, employer, clergy, etc., explaining the location, involvement, etc., of the non-custodial parent would be required.
  25. What if I have additional questions?

    Contact the Financial Aid Office at (808) 973-5003. We will do our best to help.