Will a request for financial aid influence the admission decision?
No. SBMS admits students independent of a family’s request for financial aid and bases its acceptance of students on academic ability, achievement, personal qualities, etc.
Is there a repayment obligation involved when a family receives aid from SBMS?
Your award package could include a need-based grant with no repayment obligation, loans, and/or work/trade commitment.
Is a family receiving financial aid required to assume extra responsibilities at SBMS?
Your award package could include adult work/trade commitments.
What is the largest award amount that I can receive?
We believe that all families should contribute to their child’s education. Most awards are less than 50% of tuition. Awards as large as 80% of tuition have been made when need is demonstrated. However, due to limitations of our budget, awards of this size are not typical.
Is financial aid renewed each year automatically?
SBMS asks families receiving financial aid to reapply each year. However, once financial aid has been awarded, SBMS makes every attempt to provide a similar level of aid, if possible, within the constraints of the school budget. Changes in a family's financial situation could result in an increase or decrease in financial aid, depending on individual circumstances.
Does the fact that other children in a family are attending tuition-charging schools influence SBMS’ financial aid decision?
Yes. One of the factors that influence the decision is the family's financial commitment to education. SBMS takes into account the amount of discretionary income for education that can be divided among all children attending tuition-charging schools.
Does home equity influence the financial aid decision?
Home equity is not considered in SSS methodology, but other expendable assets/expenses such as expensive cars and vacations are considered.
What happens if the parents are divorced or separated?
SBMS considers the assets of both natural parents and/or stepparents before making an award and cannot be bound by the assertion that one parent has disclaimed responsibility for educational expenses. We require that both natural parents fill out the PFS and submit it to SSS. Non-custodial parents and stepparents must also complete a PFS. It is the custodial parent's responsibility to ensure that this procedure is completed.
Is there a minimum or maximum income a family must have in order to be considered for financial aid?
No. Net income is not the only factor used in making financial aid decisions. Assets, debts, and number of dependents are among the various factors that SBMS considers, and these factors may have an influence on financial aid decisions.
Does SSS provide the funds for financial aid?
No. SBMS uses its own resources for financial aid. Fundraising helps to provide funds for financial aid, and families receiving assistance are asked to participate in the school’s Annual Fund, auction, and other fundraising activities.
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