Frequently Asked Questions
What are the Payment options at Pingree?
Semi-annual tuition payments: 50% invoiced on July 1, due August 1; and 50% invoiced October 31, due November 30
Monthly payment plan: For some families, a monthly payment plan allows parents to budget school expenses. Pingree offers such a plan through TUITION PAY. The annual school cost is divided into ten equal monthly payments. The cost of the plan is $55. There are no interest charges. For information about the TUITION PAY plan, please contact the Business Office at Pingree.
What types of financial aid are available?
Grants: A grant is an unrestricted amount of cash offered to defray tuition costs. There is no expectation of repayment.
Loans: A small portion of the financial aid award is made in the form of a $500 loan. The loan program operates according to the following guidelines:
- No interest is charged while a child is enrolled at Pingree. Interest at the rate of 8% per year will start to accrue as of July 1 of the year of expected graduation from Pingree. Payment of interest is due each year on July 1, based upon the balance of the loan the previous July 1.
- Repayment of the principal will begin four years after graduation from Pingree and will be made in quarterly installments for four years thereafter.
- Repayment of part or the entire loan may be made without penalty at any time.
How is financial aid determined?
Pingree uses the principles and guidelines of the School and Student Service for Financial Aid (SSS) in Princeton, New Jersey in order to determine the fairest and most equitable estimate of a family’s ability to contribute to education costs. To apply for financial assistance, a family must complete the Parents’ Financial Statement (PFS) online at sss.nais.org. In addition, copies of the most recently filed 1040 tax form must be uploaded into a secure portal at sss.nais.org no later than January 2, 2013 for returning families and February 1, 2013 for new families. All financial aid materials will be held in the strictest confidence.
After receiving the Report of Parental Contribution from the SSS and reviewing the parents’ most recent tax return, the Financial Aid Committee determines the amount of assistance to be offered. Although the analysis of a family’s ability to pay is based largely on parent income, family assets such as real estate equity and savings are also taken into consideration.
Will we qualify for financial aid?
The only way to accurately determine whether or not you qualify for financial aid is to complete the application. If you have questions about any aspect of this process, you may contact John Harrington, Director of Financial Aid (978) 468-4415, ext. 226.
Does Pingree offer merit scholarships?
Yes, the Pingree Scholars Program offers eighth grade applicants the opportunity to receive substantially reduced tuition through their four years at Pingree. All candidates interested in the Pingree Scholars Program will visit the campus for a morning of testing in December or January. Finalists are chosen from those candidates receiving the highest scores on the test. Two Pingree scholars are chosen each year. For more information about this opportunity, please contact the Admission Office.
Do applications for financial aid affect admission decisions?
While Pingree allocates a generous amount of financial aid each year, the demand exceeds our budget and, as a result, we are unable to meet the demonstrated need of all of our prospective families. Because of this, we will only offer a space to those students we can financially assist. If we are unable to offer financial assistance to an admissible student, that student will be placed on the admission wait list until funds and a space become available.
What if Parents are divorced or separated?
On the matter of divorce and separation, Pingree’s policy is necessarily forthright and clear. The Financial Aid Committee is not bound by the assertion that one of the parents has no responsibility for educational expenses. An individual PFS and most recently filed tax form must be submitted by both parents, regardless of custody.
Do financial aid awards vary from year to year?
Financial Aid is awarded on an annual basis. All grants are reviewed yearly and an application must be filed with the SSS each year if continued aid is sought. Unless there is a significant change in demonstrated financial need, a family can expect that grants will be renewed at the original level of funding. Any increase in tuition costs will typically be shared by the family and Pingree.
When should I apply for financial aid?
A family applying to Pingree should indicate that they are seeking financial aid on the application forms. To apply for financial aid, go to sss.nais.org. If you prefer a paper copy, contact the Admission Office. The deadline for applying for financial aid is January 2, 2013 for returning students and February 1, 2013 for new students. Please note that if you apply for financial aid online, your information will be delivered more quickly to Pingree for processing.
When are financial aid decisions made?
The Financial Aid Committee mails award decisions in the accepted student packet, which is mailed on March 10.
What if I am self-employed?
Parents who own their own business or have a partnership are required to submit copies of their 2010 federal 1065 or 1120 business tax forms along with any K-1 forms.
If my child is admitted but not awarded aid, could we receive aid the following year?
Students who enter Pingree without receiving financial aid should not expect to receive financial aid in the future years unless there is a significant change in their financial circumstance. Families who have had a significant change in their financial circumstance should contact John Harrington to discuss their situation before applying for financial assistance.
Are there additional fees above and beyond tuition and is there financial assistance for these costs?
Pingree makes every attempt to give each student access to the opportunities the School offers. While financial aid grants and loans are offered to defray tuition costs, additional financial aid is available for other costs such as textbooks, buses, tutoring and trips. This is a separate in house process, in which families apply through the Financial Aid Office and may be awarded up to a percentage of the funding they receive for tuition.